First Place Bank

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

First Place Bank is headquartered in Warren and is the 11st largest bank in the state of Ohio. It is also the 261st largest bank in the nation. It was established in 1949 and as of March of 2012, it had grown to 843 employees at 43 locations. First Place Bank has a 2-star health rating.



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First Place Bank CD Rates

ApyMinMaxProduct
1.80%$2,500-60 Month CD
1.55%$2,500-48 Month CD
1.35%$2,500-36 Month CD
0.95%$2,500-24 Month CD
0.95%$1k-30 Month CD
0.95%$1k-33 Month Convertible CD
0.50%$2,500-18 Month CD
0.50%$1k-18 Month Convertible CD
0.40%$2,500-13 Month Golden Choice CD
0.30%$2,500-12 Month CD
0.30%$2,500-10 Month CD
0.30%$1k-12 Month Convertible CD
0.30%$50k-10 Month Jumbo CD
0.30%$500-12 Month Ultimate Saver CD
0.20%$2,500-182 Day CD
0.20%$2,500-7 Month CD
0.20%$2,500-5 Month CD
0.20%$10k-6 Month Flex CD

First Place Bank IRA Rates

ApyMinMaxProduct
1.80%$2,500-60 Month IRA
1.55%$2,500-48 Month IRA
1.35%$2,500-36 Month IRA
0.95%$2,500-24 Month IRA
0.95%$1k-30 Month IRA
0.95%$1k-33 Month Convertible IRA
0.50%$2,500-18 Month IRA
0.50%$1k-18 Month Convertible IRA
0.40%$2,500-13 Month Golden Choice IRA
0.30%$2,500-10 Month IRA
0.30%$50k-10 Month Jumbo IRA
0.30%$2,500-12 Month IRA
0.30%$1k-12 Month Convertible IRA
0.30%$500-12 Month Ultimate Saver IRA
0.20%$2,500-5 Month IRA
0.20%$2,500-182 Day IRA
0.20%$10k-6 Month Flex IRA
0.20%$2,500-7 Month IRA

Rates updated: 5/25/2012

Data for Q1 2012


Institution Statistics


First Place Bank
OTS #14752
FDIC Certificate #34657
BankRate ReportView
Year Established1949
Employees843
Primary RegulatorOCC

Assets and Liabilities

Assets$2.72 billion
Loans$2.04 billion
Deposits$2.21 billion
Equity Capital$137.22 million
Loan Loss Allowance$91.62 million
Unbacked Noncurrent Loans$163.16 million
Real Estate Owned$18.64 million

Historic Data - March 2011

Assets$2.96 billion
Equity Capital$168.18 million
Loan Loss Allowance$77.37 million
Unbacked Noncurrent Loans$122.58 million
Real Estate Owned$34.51 million

Profit Margin - Quarterly

Net Interest Margin3.55%
Return on Assets0.11%
Return on Equity2.09%
Interest Income$27.80 million

Institution Health


Overall Score:
2 out of 5
2
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 March 31, 2012 First Place Bank had $181.8 million in non-current loans and owned real-estate with $228.84 million in equity and loan loss allowances on hand to cover it. This gives First Place Bank a Texas Ratio of 79.44% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend2
The Texas Ratio for First Place Bank increased slightly from 64.32% as of March 31, 2011 to 79.44% as of March 31, 2012, resulting in a negative change of 23.52%. This indicates that the balance sheet and financial strength for First Place Bank has declined slightly in recent periods.
Deposit Growth2
In the past year, First Place Bank has decreased its total deposits by -$55.04 million, resulting in -2.43% 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 $2.72 billion in assets with $228.84 million in equity, resulting in a capitalization level of 8.42%, which is average.
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