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270-688-8878
313 Frederica Street
Owensboro, KY 42301

First Security Bank (KY) is headquartered in Owensboro and is the 26th largest bank in the state of Kentucky. It is also the 1,404th largest bank in the nation. It was established in 1997 and as of December of 2013, it had grown to 138 employees at 12 locations. First Security Bank (KY) has a A health rating.

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Rewards Account Changing As Of March 1, 13

Rewards Checking is changing terms on March 1.  Cap is decreasing to $15K. Interest Rate increasing to 2.5 APY.  Number of debit card swipes increasing from 10 to 12.  Other terms staying the same according to CSR.  Thanks.



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 First Security Bank (KY) had $3.35 million in non-current loans and owned real-estate with $43.75 million in equity and loan loss allowances on hand to cover it. This gives First Security Bank (KY) a Texas Ratio of 7.65% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for First Security Bank (KY) decreased dramatically from 13.42% as of December 31, 2012 to 7.65% as of December 31, 2013, resulting in a positive change of 42.99%.This indicates that the balance sheet and financial strength for First Security Bank (KY) has improved dramatically in recent periods.

Deposit Growth

GRADE:
A+

In the past year, First Security Bank (KY) has increased its total deposits by $29.02 million, resulting in 7.88% 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 Security Bank (KY) has shown is excellent.

Capitalization

GRADE:
C+

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 Security Bank (KY) has $477.4 million in assets with $43.75 million in equity, resulting in a capitalization level of 9.16%, which is average.

Institution Statistics

Overall
FDIC Certificate #34524
Year Established1997
Employees138
Primary RegulatorFDIC
Assets and Liabilities
Assets$477.40 million
Loans$372.63 million
Deposits$397.31 million
Equity Capital$40.14 million
Loan Loss Allowance$3.61 million
Unbacked Noncurrent Loans$3.05 million
Real Estate Owned$295,000
Historic Data - December 2012
Assets$427.63 million
Equity Capital$41.19 million
Loan Loss Allowance$3.08 million
Unbacked Noncurrent Loans$3.05 million
Real Estate Owned$536,000
Profit Margin - Quarterly
Net Interest Margin3.7%
Return on Assets0.4%
Return on Equity4.46%
Interest Income$19.38 million
Rates
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First Security Bank (KY) Checking Account Rates

DetailsAPYMINMAXPRODUCT
2.50%-$15kFREE eXtreme Checking
0.05%--FREE eXtreme Checking
Locations

First Security Bank (KY) has 12 locations. Click to view all First Security Bank (KY) locations.