First Nebraska Bank is headquartered in Valley and is the 34th largest bank in the state of Nebraska. It is also the 2,319st largest bank in the nation. It was established in 1934 and as of March of 2014, it had grown to 83 employees at 15 locations. First Nebraska Bank has a B+ health rating.
Well, here is the lame attempt (below) at an explanation as to why these guys are lowering their rates - AGAIN. For some reason other banks continue to offer 4+% rewards checking......but the economy is apparently too sluggish for First Nebraska Bank to continue to offer this rate.
Time to move your money all....my recommendation is Bank of Nebraska. They currently offer over 4% and have the same account terms, except that you need to rack up 12 card swipes per month versus 10...
(Email I received from First Nebraska Bank):
I know that you are aware that deposit rates have been at historically low levels for quite some time. With the U.S. Economy continuing to be sluggish, it doesn't appear that these rates will change anytime soon. Unfortunately this means First Nebraska Bank needs to lower its "Real Checking" interest rate again. The interest rate on this account will change from 4% APY to 3% APY on February 1, 2011. We appreciate your understanding the need to lower this rate and thank-you for doing business with First Nebraska Bank.
(They appreciate my understanding? I'm glad to see that they'll understand why I'm closing this rewards checking account then...)
This bank operates in a weird way. A month and a half after I opened my account, they closed it without notice because I made a ACH transaction that made my balance zero (not overdraft). This was weird because the account was a 'no minimum balance account', and so a zero balance should be okay. I called them and explained that I never asked for a closure. So they reopened it, but after a week I get a call stating that they are closing it again because they don't see any big dollar transactions in the 1.5 months that it was open and apparently because I was 'verbal' on the phone when I had complained about my account being closed without notice. Very weird. Perhaps they want only rich customers. Well, I am doing okay with a 5 figure salary, its just that I decided to wait before entrusting my money to them. So they probably assumed that I am broke. Another possibility is that they might be racist -- looking for just white customers. I am saying this because the vice president seemed to habitually mispronounce and fumble my name a number of times without attempting to actually give it a try to read it right. Overall, a suspect bank, with a suspect management. Stay away.
Great bank, friendly staff, local management able to make quick decisions. Very competitive with mortgage rates. Highly recommended.
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 Nebraska Bank had $1.12 million in non-current loans and owned real-estate with $24.85 million in equity and loan loss allowances on hand to cover it. This gives First Nebraska Bank a Texas Ratio of 4.52% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for First Nebraska Bank experienced no significant changes from 2.35% as of March 31, 2013 to 4.52% as of March 31, 2014, resulting in a negative change of 92.69%. This indicates that the balance sheet and financial strength for First Nebraska Bank has had no significant changes in recent periods.
In the past year, First Nebraska Bank has increased its total deposits by $9.88 million, resulting in 4.22% 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 Nebraska Bank has shown is excellent.
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 Nebraska Bank has $278.88 million in assets with $24.85 million in equity, resulting in a capitalization level of 8.91%, which is average.
|FDIC Certificate #||12248|
|Assets and Liabilities|
|Equity Capital||$23.38 million|
|Loan Loss Allowance||$1.46 million|
|Unbacked Noncurrent Loans||$1.05 million|
|Real Estate Owned||$72,000|
|Historic Data - March 2013|
|Equity Capital||$22.50 million|
|Loan Loss Allowance||$1.35 million|
|Unbacked Noncurrent Loans||$1.05 million|
|Real Estate Owned||$481,000|
|Profit Margin - Quarterly|
|Net Interest Margin||3.2%|
|Return on Assets||0.8%|
|Return on Equity||9.41%|
|Interest Income||$2.25 million|
Always verify rates and promotions with the bank or credit union. We are not First Nebraska Bank, we are a rate comparison website and can not provide official rates or promotions.
|0.15%||-||-||Health Savings Account|
|0.16%||$100k||-||Money Market Investment Account|
|0.05%||-||-||49er Checking Account|
|0.05%||-||-||Hometown Checking Account|
|1.50%||$200||-||60 Month Certificate|
|1.35%||$200||-||48 Month Certificate|
|0.75%||$200||-||36 Month Certificate|
|0.55%||$500||-||24 Month Certificate|
|0.45%||$500||-||18 Month Certificate|
|0.30%||$500||-||15 Month Certificate|
|0.25%||$500||-||12 Month Certificate|
|0.20%||$500||-||9 Month Certificate|
|0.15%||$500||-||6 Month Certificate|
|0.15%||$500||-||12 Month Certificate-No Penalty|
|0.10%||$500||-||3 Month Certificate|
|1.50%||$200||-||IRA - 60 Month|
|0.45%||$200||-||IRA - 18 Month|