At Boiling Springs Savings Bank, they believe that true community banking means providing their customers with the best solutions to their financial needs through superior personal and professional service provided by a staff of dedicated people. It also means being a part of the community. They strive to support their communities by making a positive impact on the organizations and neighborhoods within their market.
My rating for this bank is a zero. I approached the mortgage department asking for a reprieve for 2 months because I have a seasonal business. I paid my mortage promptly for 15 years but had a rough patch. They treated me like shit and were anxious to trash my credit. They keep sending me late fees for a balance of $3,000. Go to Wachovia in Rutherford and ask for Lina. This is the best bank and they care about their customers. Boiling Springs Savings Bank rates a zero in my book. I will tell all my friends.
I went to Boiling Springs last year to close out a CD that was set up almost 20 yrs ago when my great-grandmother passed away. Since it was the last day of the period allowed, and we did not have a passbook, we were told that we could close the account and pay $10 for the account not having a passbook or they would put a note in the system and next year we would not have any problems. Well, guess what....
Passbooks were not issued because of how the account was opened and when I went to get the money this year, again same issue with the passbooks. The only note put on the account last year was that we came to take it out of a dormant state. They will not let me close the account without a passbook and are going to charge me $10 because I "lost" a passbook that was never issued! First off, to charge me a $10 fee for a passbook is ABSURD and then to make me have one to close the account is even more ridiculous! THIS BANK IS CRAP. I have 4 other accounts in this bank and they are all being closed.
Do yourself a favor, find another bank before they find some reason to charge you for ridiculous things.
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 Boiling Springs Savings Bank had $26.2 million in non-current loans and owned real-estate with $204.54 million in equity and loan loss allowances on hand to cover it. This gives Boiling Springs Savings Bank a Texas Ratio of 12.81% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Boiling Springs Savings Bank decreased dramatically from 22.18% as of March 31, 2013 to 12.81% as of March 31, 2014, resulting in a positive change of 42.25%.This indicates that the balance sheet and financial strength for Boiling Springs Savings Bank has improved dramatically in recent periods.
In the past year, Boiling Springs Savings Bank has increased its total deposits by $28.95 million, resulting in 2.63% 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 Boiling Springs Savings Bank has shown is above average.
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. Boiling Springs Savings Bank has $1.4 billion in assets with $204.54 million in equity, resulting in a capitalization level of 14.62%, which is excellent.
|FDIC Certificate #||30052|
|Assets and Liabilities|
|Equity Capital||$189.49 million|
|Loan Loss Allowance||$15.05 million|
|Unbacked Noncurrent Loans||$21.38 million|
|Real Estate Owned||$4.82 million|
|Historic Data - March 2013|
|Equity Capital||$184.63 million|
|Loan Loss Allowance||$15.45 million|
|Unbacked Noncurrent Loans||$21.38 million|
|Real Estate Owned||$2.75 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.42%|
|Return on Assets||0.52%|
|Return on Equity||3.89%|
|Interest Income||$13.52 million|
Always verify rates and promotions with the bank or credit union. We are not Boiling Springs Savings Bank, we are a rate comparison website and can not provide official rates or promotions.
|0.25%||$25k||-||IRA Asset Builder|
|0.25%||-||-||Boiling Bucks Youth Savings|
|0.15%||-||-||Holiday Savings Club|
|0.15%||-||-||Special Occasion Savings|
|0.25%||$25k||-||Money Market Checking|
|0.10%||$100||-||Direct Deposit Checking|
|1.85%||$1k||-||60 Month CD|
|1.25%||$1k||-||36 Month CD|
|0.80%||$1k||-||24 Month CD|
|0.65%||$1k||-||18 Month CD|
|0.45%||$1k||-||12 Month CD|
|0.45%||$1k||-||15 Month CD|
|0.30%||$1k||-||182 Day CD|
|0.30%||$1k||-||7 Month CD|
|0.20%||$1k||-||91 Day CD|
|1.85%||$1k||-||60 Month IRA|
|1.25%||$1k||-||36 Month IRA|
|0.80%||$1k||-||24 Month IRA|
|0.65%||$1k||-||18 Month IRA|
|0.45%||$1k||-||12 Month IRA|
|0.32%||$250||-||18 Month Variable IRA|
|0.30%||$1k||-||182 Day IRA|