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Overview / Commentary
626-282-3000
245 West Valley Boulevard
San Gabriel, CA 91776

Mega Bank is headquartered in San Gabriel and is the 125th largest bank in the state of California. It is also the 2,539th largest bank in the nation. It was established in 2008 and as of December of 2013, it had grown to 40 employees at 4 locations. Mega Bank's savings rates are 54% higher than the national average, and it has a B+ health rating.

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Health

Data for Q4 2013

Institution Health

B+

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 Mega Bank had $3.69 million in non-current loans and owned real-estate with $37.76 million in equity and loan loss allowances on hand to cover it. This gives Mega Bank a Texas Ratio of 9.78% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Mega Bank decreased slightly from 13.20% as of December 31, 2012 to 9.78% as of December 31, 2013, resulting in a positive change of 25.96%.This indicates that the balance sheet and financial strength for Mega Bank has improved slightly in recent periods.

Deposit Growth

GRADE:
F

In the past year, Mega Bank has decreased its total deposits by -$35.47 million, resulting in -15.06% 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 Mega Bank has shown is poor.

Capitalization

GRADE:
A+

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. Mega Bank has $250.72 million in assets with $37.76 million in equity, resulting in a capitalization level of 15.06%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #58401
Year Established2008
Employees40
Primary RegulatorFDIC
Assets and Liabilities
Assets$250.72 million
Loans$186.76 million
Deposits$199.97 million
Equity Capital$34.32 million
Loan Loss Allowance$3.44 million
Unbacked Noncurrent Loans$3.69 million
Real Estate Owned$0
Historic Data - December 2012
Assets$269.63 million
Equity Capital$33.44 million
Loan Loss Allowance$3.19 million
Unbacked Noncurrent Loans$3.69 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin3.57%
Return on Assets0.56%
Return on Equity4.36%
Interest Income$10.72 million
Rates

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

Mega Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.80%$500k-Tiered Personal Savings
0.50%$500k-Tiered Business Savings

Mega Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.45%$500k-Tiered Personal Money Market
0.40%$500k-Tiered Business Money Market

Mega Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.25%--Personal Super NOW
0.25%--Business Super NOW

Mega Bank CD Rates

DetailsAPYMINMAXPRODUCT
0.80%$100k-18 Month Regular Time CD
0.80%$100k-Over 2 Year Regular Time CD
0.70%$100k-271-365 Day Regular Time CD
0.60%$100k-181-270 Day Regular Time CD
0.50%$100k-91-180 Day Regular Time CD
0.40%$100k-61-90 Day Regular Time CD
0.35%$100k-31-60 Day Regular Time CD
0.30%$100k-7-30 Day Regular Time CD

Mega Bank IRA Rates

DetailsAPYMINMAXPRODUCT
0.85%$2,500-24 Month IRA
0.75%$2,500-18 Month IRA
0.65%$2,500-12 Month IRA
Locations


Mega Bank Locations
Rowland Heights Branch1370 S. Fullerton Road, #101Rowland Heights, CA 91748
Hacienda Heights Branch17188 Colima Road #aHacienda Heights, CA 91745
Mega Bank245 West Valley BoulevardSan Gabriel, CA 91776
Irvine Branch3996 Barranca Pkwy Suite 100Irvine, CA 92606