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

Friends Bank

Friends Bank Locations
2222 State Route 44
New Smyrna Beach, FL 32168
386-428-2299
www.friendsbank.com



Friends Bank is headquartered in New Smyrna Beach and is the 167th largest bank in the state of Florida. It is also the 4,363rd largest bank in the nation. It was established in 2000 and as of March of 2012, it had grown to 29 employees at 3 locations. Friends Bank has a 1-star health rating.

Friends Bank Routing Number: 063114975

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4.15% 12-Month CD & 4.00% 6-Month CD at Friends Bank in Florida - 12/16/2008

Update 12/19/08: These CD rates have fallen. Please check the bank's website for the latest rates.Friends Bank is listing several competitive CD rates in its rate table as of 12/16/08. These include a 4.00% APY 6-month CD, 4.15% APY 12-month CD and a...



See Rates for: Checking | Savings | Money Market | CD | IRA

Friends Bank Checking Account Rates

ApyMinMaxProduct
0.35%$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 Savings Account Rates

ApyMinMaxProduct
0.20%--Christmas Cash Account
0.15%--Young Friends Savings Account
0.15%$100-Friends Sensible Savings Account

Friends Bank Money Market Rates

ApyMinMaxProduct
0.35%$100k-Friends Business Advantage Money Market

Friends Bank CD Rates

ApyMinMaxProduct
1.00%$1k-60 Month CD
0.90%$1k-48 Month CD
0.75%$1k-36 Month CD
0.65%$5k-30 Month Advantage CD
0.60%$1k-24 Month CD
0.50%$5k-18 Month Advantage CD
0.40%$500-12 Month CD
0.15%$2k-6 Month CD
0.10%$2k-90 Day CD

Friends Bank IRA Rates

ApyMinMaxProduct
1.00%$1k-60 Month IRA
1.00%$1k-60 Month Roth IRA
1.00%$1k-60 Month Education IRA
0.90%$1k-48 Month IRA
0.90%$1k-48 Month Roth IRA
0.90%$1k-48 Month Education IRA
0.75%$1k-36 Month IRA
0.75%$1k-36 Month Roth IRA
0.75%$1k-36 Month Education IRA
0.65%$1k-30 Month Advantage IRA
0.65%$1k-30 Month Advantage Roth IRA
0.65%$1k-30 Month Advantage Education IRA
0.60%$1k-24 Month IRA
0.60%$1k-24 Month Roth IRA
0.60%$1k-24 Month Education IRA
0.50%$1k-18 Month Advantage IRA
0.50%$1k-18 Month Advantage Roth IRA
0.50%$1k-18 Month Advantage Education IRA
0.40%$1k-12 Month IRA
0.40%$1k-12 Month Roth IRA
0.40%$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

Rates updated: 5/25/2012

Data for Q1 2012


Institution Statistics


Friends Bank
FDIC Certificate #35376
BankRate ReportView
Year Established2000
Employees29
Primary RegulatorFDIC

Assets and Liabilities

Assets$124.41 million
Loans$88.41 million
Deposits$117.77 million
Equity Capital$6.50 million
Loan Loss Allowance$3.36 million
Unbacked Noncurrent Loans$12.35 million
Real Estate Owned$5.02 million

Historic Data - March 2011

Assets$141.39 million
Equity Capital$11.92 million
Loan Loss Allowance$5.18 million
Unbacked Noncurrent Loans$33.12 million
Real Estate Owned$819,000

Profit Margin - Quarterly

Net Interest Margin3.63%
Return on Assets-0.9%
Return on Equity-16.54%
Interest Income$1.31 million

Institution Health


Overall Score:
1 out of 5
1
Texas Ratio1
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 Friends Bank had $17.37 million in non-current loans and owned real-estate with $9.86 million in equity and loan loss allowances on hand to cover it. This gives Friends Bank a Texas Ratio of 176.14% which is poor. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Friends Bank held steady from 198.46% as of March 31, 2011 to 176.14% as of March 31, 2012, resulting in a positive change of 11.25%.This indicates that the balance sheet and financial strength for Friends Bank has held steady in recent periods.
Deposit Growth1
In the past year, Friends Bank has decreased its total deposits by -$11.63 million, resulting in -8.99% 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.
Capitalization2
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 $124.41 million in assets with $9.86 million in equity, resulting in a capitalization level of 7.93%, which is below average.
Write Review

Theft By Policy
1 stars - mvando01 - Monday, September 26, 2011 - 12:28 PM

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!

 

4

A Friendly Place To Bank
5 stars - RPadgett - Sunday, April 17, 2011 - 8:11 PM

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!!!!!!!!!!!!

2