5 star ratingAverage User Rating:
5 star rating based on 4 reviews.

CharterBank

CharterBank Locations
1233 O.G. Skinner Dr
West Point, GA 31833
800-763-4444
www.charterbk.com



CharterBank is headquartered in West Point and is the 11st largest bank in the state of Georgia. It is also the 560th largest bank in the nation. It was established in 1954 and as of September of 2011, it had grown to 289 employees at 23 locations. CharterBank has a 3-star health rating.

Related Posts

Reward Checking Rate Dropped From 3.51% To 2.01% (Forum) - 2/24/2011

Rate tiers are as follows: 2.010% APY applies to balances of $.01 - $15,000 and 0.600% APY applies to the portion of balances over $15,000 as long as qualifications are met each statement cycle.  0.10% APY applies to all balances if qualifications

Interest Rate Dropping In Sept. (Forum) - 8/31/2010

Went by a local branch and they said that the interest rate was going to drop to 3.5% in Sept 2010 and the limit of 25K will be lowered to 15K.

I Have Account With This Bank Since Last Several Months (Forum) - 4/6/2010

I have account with this bank since last several months. Great service and great rates(5.01%). Hoping to continue. I definately recommend unless they drop the rate !

2.25% 11-Month CD & 3.70% 59-Month CD at CharterBank in GA & AL - Local Only - 12/9/2009

CharterBank is offering two competitive rates on its CD specials: 2.25% APY for 11 months and 3.70% APY for 59 months. Minimum deposit is $1,500. The 59-month CD also has a bump-up feature. These rates are listed in the bank's rates page as of...

2009

2008




See Rates for: Checking | Savings | Money Market | CD | IRA

CharterBank Checking Account Rates

ApyMinMaxProduct
1.01%-$15kREWARDSChecking
0.25%$15k-High Interest Checking
0.15%$50k-Business With Interest Checking
0.12%--50 + Free Interest Checking
0.12%--Direct Deposit FREE Interest Checking

CharterBank Savings Account Rates

ApyMinMaxProduct
0.05%--Regular Savings Account
0.05%--Holiday Account
0.05%--I-Count Savings Account

CharterBank Money Market Rates

ApyMinMaxProduct
0.45%$100k-Premier Plus Money Market Account
0.20%$1k-Retirement Premier Money Market Account

CharterBank CD Rates

ApyMinMaxProduct
1.39%$1,500-59 Month Bump Up Special
1.00%$1,500-35 Month CD Special
0.95%$1,500-60 Month CD
0.74%$1,500-20 Month Added Advantage CD Special
0.63%$1,500-11 Month CD Special
0.55%$1,500-36 Month CD
0.30%$1,500-18 Month CD
0.30%$1,500-24 Month CD
0.20%$1,500-12 Month CD
0.15%$1,500-6 Month CD
0.03%$1,500-91 Day CD

CharterBank IRA Rates

ApyMinMaxProduct
0.95%$1,500-60 Month IRA
0.55%$1,500-36 Month IRA
0.30%$1,500-18 Month IRA
0.30%$1,500-24 Month IRA
0.20%$1,500-12 Month IRA
0.15%$1,500-6 Month IRA
0.03%$1,500-91 Day IRA

Rates updated: 2/10/2012

Data for Q3 2011


Institution Statistics


CharterBank
OTS #05798
FDIC Certificate #30720
BankRate ReportView
Year Established1954
Employees289
Primary RegulatorOCC

Assets and Liabilities

Assets$1.17 billion
Loans$652.42 million
Deposits$925.43 million
Equity Capital$128.94 million
Loan Loss Allowance$8.14 million
Unbacked Noncurrent Loans$74.55 million
Real Estate Owned$31.77 million

Historic Data - September 2010

Assets$1.19 billion
Equity Capital$123.12 million
Loan Loss Allowance$7.61 million
Unbacked Noncurrent Loans$4.97 million
Real Estate Owned$39.27 million

Profit Margin - Quarterly

Net Interest Margin3.66%
Return on Assets0.31%
Return on Equity2.6%
Interest Income$33.65 million

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio2
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2011 CharterBank had $106.32 million in non-current loans and owned real-estate with $137.08 million in equity and loan loss allowances on hand to cover it. This gives CharterBank a Texas Ratio of 77.56% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for CharterBank held steady from 79.33% as of September 30, 2010 to 77.56% as of September 30, 2011, resulting in a positive change of 2.23%.This indicates that the balance sheet and financial strength for CharterBank has held steady in recent periods.
Deposit Growth5
In the past year, CharterBank has increased its total deposits by $85.18 million, resulting in 10.14% 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 CharterBank has shown is excellent.
Capitalization4
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. CharterBank has $1.17 billion in assets with $137.08 million in equity, resulting in a capitalization level of 11.71%, which is above average.
Write Review

Opened Reward Checking Account At Peachtree City Branch
5 stars - Anonymous - Saturday, January 16, 2010 - 12:16 PM

Opened Reward checking account at Peachtree City Branch. So far no issues. Use my Ally bank account for Push and Pull money from the Charter Bank Account. One issue I have is I can't add this bank account to mint or Yodlee.

5

Opened An Account As An Out Of State Resident
5 stars - Anonymous - Friday, August 13, 2010 - 6:03 PM

On a recent business trip to Atlanta, I opened an account. There is a branch in Peachtree City not too far from the airport. So far, I have been very pleased with the customer service, interest rate and requirements. I would highly recommend this bank to others in the local area as well as anyone who may be visiting the Atlanta area. The bank customer service rep told me they get a lot of out of state account applicants but have no plans to allow people to sign up on the website.

3

I Missed To Rate The Bank
5 stars - Anonymous - Tuesday, April 6, 2010 - 6:02 PM

I missed to rate the bank. I can give full 5 star for their outstanding rate & good service @ Peachtree branch.

2

Great Customer Service
5 stars - Anonymous - Monday, August 30, 2010 - 6:14 PM

Very impressed with the Charter Bank branch in Newnan, GA. 

1