Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts
Overview / Commentary
800-433-0285
7045 C Avenue Northeast
Cedar Rapids, IA 52402

BankIowa of Cedar Rapids is headquartered in Cedar Rapids and is the 29th largest bank in the state of Iowa. It is also the 1,345th largest bank in the nation. It was established in 1881 and as of March of 2014, it had grown to 125 employees at 11 locations. BankIowa of Cedar Rapids' savings rates are 2X the national average, and it boasts a A+ health rating.

Related Posts



Reviews (1)

Additional Information

"US citizen" or "PR" only.



Health

Data for Q1 2014

Institution Health

A+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 BankIowa of Cedar Rapids had $198,000 in non-current loans and owned real-estate with $59.46 million in equity and loan loss allowances on hand to cover it. This gives BankIowa of Cedar Rapids a Texas Ratio of 0.33% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for BankIowa of Cedar Rapids decreased dramatically from 0.89% as of March 31, 2013 to 0.33% as of March 31, 2014, resulting in a positive change of 62.66%.This indicates that the balance sheet and financial strength for BankIowa of Cedar Rapids has improved dramatically in recent periods.

Deposit Growth

GRADE:
A

In the past year, BankIowa of Cedar Rapids has increased its total deposits by $14.58 million, resulting in 3.62% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth BankIowa of Cedar Rapids has shown is excellent.

Capitalization

GRADE:
A

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. BankIowa of Cedar Rapids has $502.75 million in assets with $59.46 million in equity, resulting in a capitalization level of 11.83%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #17282
Year Established1881
Employees125
Primary RegulatorFDIC
Assets and Liabilities
Assets$502.75 million
Loans$368.66 million
Deposits$417.18 million
Equity Capital$54.55 million
Loan Loss Allowance$4.91 million
Unbacked Noncurrent Loans$198,000
Real Estate Owned$0
Historic Data - March 2013
Assets$494.17 million
Equity Capital$53.61 million
Loan Loss Allowance$4.46 million
Unbacked Noncurrent Loans$198,000
Real Estate Owned$52,000
Profit Margin - Quarterly
Net Interest Margin3.38%
Return on Assets0.89%
Return on Equity8.31%
Interest Income$4.69 million
Rates

Always verify rates and promotions with the bank or credit union. We are not BankIowa of Cedar Rapids, we are a rate comparison website and can not provide official rates or promotions.

BankIowa of Cedar Rapids Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.06%--Variable Rate Freedom CD-Current Customers Only
1.00%$100-Health Savings Account
0.50%--Variable Rate IRA
0.10%$100-Savings Account

BankIowa of Cedar Rapids Money Market Rates

DetailsAPYMINMAXPRODUCT
0.80%$1m-Personal Premium Money Market
0.80%$1m-Public Funds Premium Money Market
0.80%$1m-Commercial Premium Money Market
0.80%$1m-501 C3 Premium Money Market
0.55%$500k-Personal Platinum Money Market Account
0.55%$500k-Commercial Platinum Money Market Account
0.25%$250k-Personal Money Market Account
0.25%$250k-Commercial Money Market Account

BankIowa of Cedar Rapids Checking Account Rates

DetailsAPYMINMAXPRODUCT
2.53%-$15kChampion Checking Account - Qualifying
0.70%$500k-Super Public Fund NOW Account
0.20%$100k-Rewards NOW Account
0.05%--Personal NOW Checking
0.05%--Qualified NOW Checking
0.05%--Champion Checking Account - Non Qualifying

BankIowa of Cedar Rapids CD Rates

DetailsAPYMINMAXPRODUCT
1.40%$500-59 Month Special CD
1.00%$500-36 Month One Way Up CD
0.85%$500-23 Month CD Special
0.76%$500-60 + Month CD
0.50%$500-12 Month CD Special
0.40%$500-48 - 59 Month CD
0.37%$500-36 - 47 Month CD
0.35%$500-24 - 35 Month CD
0.22%$500-12 - 23 Month CD
0.20%$500-You Pick The Term: 3-5 Month CD Special
0.14%$500-6 - 11 Month CD
0.10%$500-3 - 5 Month CD
Locations

BankIowa of Cedar Rapids has 11 locations. Click to view all BankIowa of Cedar Rapids locations.