1 star ratingAverage User Rating:
1 star rating based on 2 reviews.

First Place Bank

First Place Bank Locations
185 East Market Street
Warren, OH 44481
877-271-1122
www.firstplacebank.com

FDIC

First Place Bank is headquartered in Warren and is the 11st largest bank in the state of Ohio. It is also the 289th largest bank in the nation. It was established in 1949 and as of December of 2012, it had grown to 832 employees at 43 locations. First Place Bank has a 3-star health rating.



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First Place Bank CD Rates

ApyMinMaxProduct
0.35%$2,500-24 Month CD
0.30%$2,500-36 Month CD
0.30%$2,500-48 Month CD
0.30%$2,500-60 Month CD
0.25%$2,500-18 Month CD
0.20%$2,500-12 Month CD
0.20%$2,500-13 Month Golden Choice CD
0.20%$500-12 Month Ultimate Saver CD
0.15%$2,500-182 Day CD
0.15%$2,500-7 Month CD
0.15%$2,500-5 Month CD
0.15%$2,500-10 Month CD
0.15%$1k-30 Month CD
0.15%$10k-6 Month Flex CD
0.15%$50k-10 Month Jumbo CD

First Place Bank IRA Rates

ApyMinMaxProduct
0.35%$2,500-24 Month IRA
0.30%$2,500-36 Month IRA
0.30%$2,500-48 Month IRA
0.30%$2,500-60 Month IRA
0.25%$2,500-18 Month IRA
0.20%$2,500-12 Month IRA
0.20%$2,500-13 Month Golden Choice IRA
0.20%$500-12 Month Ultimate Saver IRA
0.15%$2,500-5 Month IRA
0.15%$2,500-182 Day IRA
0.15%$10k-6 Month Flex IRA
0.15%$2,500-7 Month IRA
0.15%$2,500-10 Month IRA
0.15%$50k-10 Month Jumbo IRA
0.15%$1k-30 Month IRA

Rates updated: 5/23/2013

Data for Q4 2012


Institution Statistics


First Place Bank
OTS #14752
FDIC Certificate #34657
BankRate ReportView
Year Established1949
Employees832
Primary RegulatorOCC

Assets and Liabilities

Assets$2.59 billion
Loans$1.80 billion
Deposits$2.12 billion
Equity Capital$155.25 million
Loan Loss Allowance$69.75 million
Unbacked Noncurrent Loans$94.23 million
Real Estate Owned$22.99 million

Historic Data - December 2011

Assets$2.72 billion
Equity Capital$136.05 million
Loan Loss Allowance$90.52 million
Unbacked Noncurrent Loans$161.57 million
Real Estate Owned$22.96 million

Profit Margin - Quarterly

Net Interest Margin3.59%
Return on Assets0.83%
Return on Equity14.9%
Interest Income$107.89 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 December 31, 2012 First Place Bank had $117.22 million in non-current loans and owned real-estate with $224.99 million in equity and loan loss allowances on hand to cover it. This gives First Place Bank a Texas Ratio of 52.10% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for First Place Bank decreased slightly from 82.09% as of December 31, 2011 to 52.10% as of December 31, 2012, resulting in a positive change of 36.53%.This indicates that the balance sheet and financial strength for First Place Bank has improved slightly in recent periods.
Deposit Growth2
In the past year, First Place Bank has decreased its total deposits by -$97.82 million, resulting in -4.41% 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 Place Bank has shown is below average.
Capitalization3
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 Place Bank has $2.59 billion in assets with $224.99 million in equity, resulting in a capitalization level of 8.69%, which is average.
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“This Is The Worst Bank I Have Ever Tried To Work With. ”
1 stars - dwiering - Friday, August 24, 2012 - 8:51 AM

 [/H2] Dave Stellin was recommended to me by my real estate agent. Dave Stellin ran the numbers through his spread sheet and dismissed me out of hand. He did not return my call for a week and told me he worked on commission for closing loans, "I don't get paid to tell you no" He would not even give me an amount that I would need down to make the deal work. Very dissapointed.

3


Three Months Into A Refi Process From &*(^%
1 stars - jsinger - Thursday, May 31, 2012 - 12:33 PM

Three months into a refi process that should have taken 2 weeks.  Involves one dealyed clsing and two bank cancelled clsings.  Most issues involve unwarranted requests for insurance coverages or loss payees.  For example they are insisting on HO6 coverage of 20% when Fannie Mae regs clearly indicate that is no longer necessarily required under HO6SVC-2011-23.

1
 
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