Friends Bank is headquartered in New Smyrna Beach and is the 166th largest bank in the state of Florida. It is also the 4,718st largest bank in the nation. It was established in 2000 and as of September of 2013, it had grown to 28 employees at 3 locations. Friends Bank has a D health rating.
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!
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!!!!!!!!!!!!
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.
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 September 30, 2013 Friends Bank had $9.2 million in non-current loans and owned real-estate with $6.44 million in equity and loan loss allowances on hand to cover it. This gives Friends Bank a Texas Ratio of 142.90% which is poor. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Friends Bank decreased slightly from 199.29% as of September 30, 2012 to 142.90% as of September 30, 2013, resulting in a positive change of 28.29%.This indicates that the balance sheet and financial strength for Friends Bank has improved slightly in recent periods.
In the past year, Friends Bank has decreased its total deposits by -$13.57 million, resulting in -12.23% 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 $102.35 million in assets with $6.44 million in equity, resulting in a capitalization level of 6.29%, which is below average.
|FDIC Certificate #||35376|
|Assets and Liabilities|
|Equity Capital||$4.65 million|
|Loan Loss Allowance||$1.79 million|
|Unbacked Noncurrent Loans||$3.79 million|
|Real Estate Owned||$5.41 million|
|Historic Data - September 2012|
|Equity Capital||$5.83 million|
|Loan Loss Allowance||$1.87 million|
|Unbacked Noncurrent Loans||$3.79 million|
|Real Estate Owned||$7.42 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.27%|
|Return on Assets||-0.51%|
|Return on Equity||-11.15%|
|Interest Income||$2.95 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.
|0.15%||-||-||Christmas Cash Account|
|0.10%||-||-||Young Friends Savings Account|
|0.10%||$100||-||Friends Sensible Savings Account|
|0.25%||$100k||-||Friends Business Advantage Money Market|
|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|
|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|
|0.85%||$1k||-||60 Month IRA|
|0.85%||$1k||-||60 Month Roth IRA|
|0.85%||$1k||-||60 Month Education IRA|
|0.75%||$1k||-||48 Month IRA|
|0.75%||$1k||-||48 Month Roth IRA|
|0.75%||$1k||-||48 Month Education IRA|
|0.65%||$1k||-||36 Month IRA|
|0.65%||$1k||-||36 Month Roth IRA|
|0.65%||$1k||-||36 Month Education IRA|
|0.60%||$1k||-||30 Month Advantage IRA|
|0.60%||$1k||-||30 Month Advantage Roth IRA|
|0.60%||$1k||-||30 Month Advantage Education IRA|
|0.50%||$1k||-||24 Month IRA|
|0.50%||$1k||-||24 Month Roth IRA|
|0.50%||$1k||-||24 Month Education IRA|
|0.40%||$1k||-||18 Month Advantage IRA|
|0.40%||$1k||-||18 Month Advantage Roth IRA|
|0.40%||$1k||-||18 Month Advantage Education IRA|
|0.35%||$1k||-||12 Month IRA|
|0.35%||$1k||-||12 Month Roth IRA|
|0.35%||$1k||-||12 Month Education IRA|
|0.15%||$1k||-||6 Month IRA|
|0.15%||$1k||-||6 Month Roth IRA|
|0.15%||$1k||-||6 Month Education IRA|
|Friends Bank Locations|
|Edgewater Office||1504 South Ridgewood Avenue||Edgewater, FL 32132|
|Ormond Beach Branch||208 South Nova Road||Ormond Beach, FL 32174|
|Friends Bank||2222 State Route 44||New Smyrna Beach, FL 32168|