First Madison Valley Bank is headquartered in Ennis and is the 24th largest bank in the state of Montana. It is also the 4,027th largest bank in the nation. It was established in 1965 and as of March of 2014, it had grown to 44 employees at 4 locations. First Madison Valley Bank's savings rates are 92% higher than the national average, and it has a B+ health rating.
Review Of First Madison Valley Bank
First Madison Valley Bank primarily services the Madison Valley in southwestern Montana. Based out of Ennis, the bank has two locations. The only other bank in town is Valley Bank, with one location. Of the two, FMVB has many more ATM locations, including ones conveniently placed at the gas station and grocery store. As far as basic checking and savings account services, FMVB is pretty average. When it comes to servicing loans and mortgages, I would recommend Valley Bank before FMVB. Valley Bank is much friendlier and provides much better personal service.
Data for Q1 2014
Institution Health
Texas Ratio
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 First Madison Valley Bank had $2.49 million in non-current loans and owned real-estate with $12.8 million in equity and loan loss allowances on hand to cover it. This gives First Madison Valley Bank a Texas Ratio of 19.47% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for First Madison Valley Bank decreased dramatically from 29.25% as of March 31, 2013 to 19.47% as of March 31, 2014, resulting in a positive change of 33.43%.This indicates that the balance sheet and financial strength for First Madison Valley Bank has improved dramatically in recent periods.
Deposit Growth
In the past year, First Madison Valley Bank has increased its total deposits by $3.99 million, resulting in 3.41% 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 First Madison Valley Bank has shown is excellent.
Capitalization
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. First Madison Valley Bank has $132.9 million in assets with $12.8 million in equity, resulting in a capitalization level of 9.63%, which is above average.
Institution Statistics
| Overall | |
|---|---|
| FDIC Certificate # | 19544 |
| Year Established | 1965 |
| Employees | 44 |
| Primary Regulator | FDIC |
| Assets and Liabilities | |
|---|---|
| Assets | $132.90 million |
| Loans | $72.57 million |
| Deposits | $120.88 million |
| Equity Capital | $11.74 million |
| Loan Loss Allowance | $1.06 million |
| Unbacked Noncurrent Loans | $807,000 |
| Real Estate Owned | $1.69 million |
| Historic Data - March 2013 | |
|---|---|
| Assets | $128.54 million |
| Equity Capital | $11.43 million |
| Loan Loss Allowance | $1.13 million |
| Unbacked Noncurrent Loans | $807,000 |
| Real Estate Owned | $2.11 million |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 4.16% |
| Return on Assets | 1.01% |
| Return on Equity | 11.78% |
| Interest Income | $1.35 million |
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First Madison Valley Bank Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.00% | $50 | - | Holiday Savings | |
| 1.00% | $50 | - | Business Holiday Savings | |
| 0.05% | $50 | - | Personal Savings | |
| 0.05% | $50 | - | Business Savings |
First Madison Valley Bank Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.35% | $100k | - | Money Market | |
| 0.35% | $100k | - | Business Money Market |
First Madison Valley Bank Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.10% | - | - | Freedom Plus | |
| 0.10% | - | - | Business Freedom Plus Checking | |
| 0.05% | $1k | - | Interest Checking | |
| 0.05% | $1k | - | Business Interest Checking |
First Madison Valley Bank CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.00% | $500 | - | 48 Month CD | |
| 1.00% | $500 | - | Business 48 Month CD | |
| 0.70% | $100 | - | 18 month multiple deposit | |
| 0.70% | $100 | - | Business 18 month multiple deposit | |
| 0.55% | $500 | - | 24 Month CD | |
| 0.55% | $500 | - | Business 24 Month CD | |
| 0.30% | $500 | - | 12 Month CD | |
| 0.30% | $500 | - | Business 12 Month CD | |
| 0.10% | $500 | - | 6 Month CD | |
| 0.10% | $500 | - | Business 6 Month CD | |
| 0.05% | $500 | - | 1 month CD | |
| 0.05% | $500 | - | 3 Month CD | |
| 0.05% | $500 | - | Business 1 month CD | |
| 0.05% | $500 | - | Business 3 Month CD |
| First Madison Valley Bank Locations | ||
|---|---|---|
| Boulder Branch | 109 West 2nd Street | Boulder, MT 59632 |
| First Madison Valley Bank | 213 East Main | Ennis, MT 59729 |
| Grizzly Park Branch | 216 Grizzly Avenue. | West Yellowstone, MT 59758 |
| Clancy Branch | 9 Bankers Lane | Clancy, MT 59634 |