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2222 State Route 44
New Smyrna Beach, FL 32168

Friends Bank is headquartered in New Smyrna Beach and is the 166th largest bank in the state of Florida. It is also the 4,736th largest bank in the nation. It was established in 2000 and as of December of 2013, it had grown to 28 employees at 3 locations. Friends Bank has a D health rating.

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Reviews (3)

Theft By Policy

If you plan on dealing with Friends Bank in New Smyrna Beach, Florida,I have one piece of advice, don't!

In my opinion, they use antiquated methods of reporting and communicating, not to mention a pervese sense of customer service!

The result is when you are not informed in a timely manner; of an impending penalty, on say a CD that you have had with them for five years! That's right, you get slammed! Their excuse, "It's Policy"!

That's right their policy is to only use snail mail to inform you a CD is about to mature! No E-mail, No Fax, No Phone call and 6 months of interest now belongs to them! Ouch! "Sorry, Our Policy"!

The folks that run this bank are rank amatuers at best, don't take my opinion as fact, just look at their ratings and financials!

If you deal with them, good luck or should I say Caveat Emptor"

Friends Bank is no friend of mine!


A Friendly Place To Bank

I have been a bank customer of this bank for better than 18 months and I must say this bank treats you like a real person. If you live in the Eastern Volusia county area this is the Bank!!!! Friendly and always ready to help you. The way banking was ment to be!!!!!!!!!!!!

Customer Servicw

If you are tired of the BIG Bank BS, visit Friends Bank, you will leave there feeling like a King!!!!!!! It is what you expect from a Bank, Royal treatment.


Data for Q4 2013

Institution Health


Texas Ratio


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 Friends Bank had $7.43 million in non-current loans and owned real-estate with $6.17 million in equity and loan loss allowances on hand to cover it. This gives Friends Bank a Texas Ratio of 120.50% which is poor. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Friends Bank decreased dramatically from 181.93% as of December 31, 2012 to 120.50% as of December 31, 2013, resulting in a positive change of 33.77%.This indicates that the balance sheet and financial strength for Friends Bank has improved dramatically in recent periods.

Deposit Growth


In the past year, Friends Bank has decreased its total deposits by -$10.96 million, resulting in -10.22% 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 Friends Bank has shown is poor.



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. Friends Bank has $100.79 million in assets with $6.17 million in equity, resulting in a capitalization level of 6.12%, which is below average.

Institution Statistics

FDIC Certificate #35376
Year Established2000
Primary RegulatorFDIC
Assets and Liabilities
Assets$100.79 million
Loans$64.42 million
Deposits$96.28 million
Equity Capital$4.37 million
Loan Loss Allowance$1.80 million
Unbacked Noncurrent Loans$2.20 million
Real Estate Owned$5.24 million
Historic Data - December 2012
Assets$112.61 million
Equity Capital$5.17 million
Loan Loss Allowance$1.87 million
Unbacked Noncurrent Loans$2.20 million
Real Estate Owned$6.45 million
Profit Margin - Quarterly
Net Interest Margin3.07%
Return on Assets-0.63%
Return on Equity-14.12%
Interest Income$3.66 million

Always verify rates and promotions with the bank or credit union. We are not Friends Bank, we are a rate comparison website and can not provide official rates or promotions.

Friends Bank Savings Account Rates

0.15%--Christmas Cash Account
0.10%--Young Friends Savings Account
0.10%$100-Friends Sensible Savings Account

Friends Bank Money Market Rates

0.25%$100k-Friends Business Advantage Money Market

Friends Bank Checking Account Rates

0.25%$100k-Friends Treasure Account
0.10%$25k-Friends Merit Account
0.10%$25k-Friends Choice Checking Account
0.10%$25k-Friends IOTA Account

Friends Bank CD Rates

0.85%$1k-60 Month CD
0.75%$1k-48 Month CD
0.65%$1k-36 Month CD
0.60%$5k-30 Month Advantage CD
0.50%$1k-24 Month CD
0.40%$5k-18 Month Advantage CD
0.35%$500-12 Month CD
0.15%$2k-6 Month CD
0.10%$2k-90 Day CD

Friends Bank IRA Rates

0.85%$1k-60 Month IRA (Traditional,Roth,CESA)
0.75%$1k-48 Month IRA (Traditional,Roth,CESA)
0.65%$1k-36 Month IRA (Traditional,Roth,CESA)
0.60%$1k-30 Month Advantage IRA (Traditional,Roth,CESA)
0.50%$1k-24 Month IRA (Traditional,Roth,CESA)
0.40%$1k-18 Month Advantage IRA (Traditional,Roth,CESA)
0.35%$1k-12 Month IRA (Traditional,Roth,CESA)
0.15%$1k-6 Month IRA (Traditional,Roth,CESA)

Friends Bank Locations
Edgewater Office1504 South Ridgewood AvenueEdgewater, FL 32132
Ormond Beach Branch208 South Nova RoadOrmond Beach, FL 32174
Friends Bank2222 State Route 44New Smyrna Beach, FL 32168