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I Have Had An Account With CNB Bank Direct For Over A Year

I have had an account with CNB Bank Direct for over a year. The inital setup process took longer than expected, but once the account was set up, it worked okay. The online access system is no-frills but usable. You can only transfer back to the account you used to set up the account, so make certain you fund from the right account with your opening deposit. The interest rate has been very good, but not the best available. ACH transfers happen very quickly so that is a plus with this account. It is possible to pull money out of this account if you issue the instruction from another bank, but CNB doesn't like to tell you that.



Health

Data for Q4 2013

Institution Health

A

Texas Ratio

GRADE:
A+

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 December 31, 2013 CNB Bank Direct had $3.82 million in non-current loans and owned real-estate with $66.05 million in equity and loan loss allowances on hand to cover it. This gives CNB Bank Direct a Texas Ratio of 5.78% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for CNB Bank Direct decreased slightly from 7.96% as of December 31, 2012 to 5.78% as of December 31, 2013, resulting in a positive change of 27.40%.This indicates that the balance sheet and financial strength for CNB Bank Direct has improved slightly in recent periods.

Deposit Growth

GRADE:
B+

In the past year, CNB Bank Direct has increased its total deposits by $6.53 million, resulting in 1.39% 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 CNB Bank Direct has shown is above average.

Capitalization

GRADE:
B

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. CNB Bank Direct has $664.84 million in assets with $66.05 million in equity, resulting in a capitalization level of 9.94%, which is above average.

Institution Statistics

Overall
FDIC Certificate #6531
Year Established1920
Employees146
Primary RegulatorOCC
Assets and Liabilities
Assets$664.84 million
Loans$492.57 million
Deposits$476.50 million
Equity Capital$59.62 million
Loan Loss Allowance$6.44 million
Unbacked Noncurrent Loans$3.20 million
Real Estate Owned$620,000
Historic Data - December 2012
Assets$668.08 million
Equity Capital$59.51 million
Loan Loss Allowance$5.48 million
Unbacked Noncurrent Loans$3.20 million
Real Estate Owned$1.98 million
Profit Margin - Quarterly
Net Interest Margin3.93%
Return on Assets1.8%
Return on Equity20.44%
Interest Income$28.41 million
Rates
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CNB Bank Direct Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.41%--High Yield Savings

CNB Bank Direct CD Rates

DetailsAPYMINMAXPRODUCT
1.51%$1k$250k48 Month CD
1.31%$1k$250k36 Month CD
0.86%$1k$250k24 Month CD
0.76%$1k$250k18 Month CD
0.66%$1k$250k12 Month CD
Locations

CNB Bank Direct is an Internet only bank and does not have branch locations. Its headquarters is located at 102 South Main Street - Bluffton, OH 45817