Minster Bank is headquartered in Minster and is the 57th largest bank in the state of Ohio. It is also the 1,764th largest bank in the nation. It was established in 1914 and as of September of 2013, it had grown to 82 employees at 7 locations. Minster Bank has a A health rating.
I am a Business owner. In the past I have delt with larger banks, but decided to do my business with a smaller bank to develop a more personal relationship. So I chose Minster Bank. This would prove to be a huge mistake! Minster Bank is not at all business friendly.
I own a company with approximately 15 employees. We are a growing business, and cash flow is very imporatant. Mister Bank said they would be willing to work with us. This turned out to be false. Checks that would be deposited into the Business Checking would be held for 7-10 BUSINESS DAYS with NO NOTICE! 10 DAYS BEFORE THE MONEY WAS RELEASED! This was common practice for the bank. In the mean time any purchases of checks that were made against the already deposited, we cleared but charged large fees. When I would check with the companies who issued the checks to my company, I was informed the checks had cleared their bank the day I deposited them with Minster. They knew we needed our money, they had our money, and they knew by holding it we would be willing to pay the fees because e had no choice.
After questioning the bank manager both at the branch level as well as corperate level, I was told it was Ohio law to hold checks of over $5,000.00 for that amount of time. They said any bank would do the same. After checking the state laws as well as the practices of other banks, I found these statements to be blatent lies. I have since closed my account with minster and taken my banking business elsewhere. In my short time with the bank, I incurred housands of dollars in charges as a result of Minster Banks practices.
If you are considering doing business with this bank, I would advise you to reconsider. You can get better service elsewhere, and you will be better off for doing so!
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 Minster Bank had $1.41 million in non-current loans and owned real-estate with $35.46 million in equity and loan loss allowances on hand to cover it. This gives Minster Bank a Texas Ratio of 3.98% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Minster Bank held steady from 1.44% as of September 30, 2012 to 3.98% as of September 30, 2013, resulting in a negative change of 176.82%. This indicates that the balance sheet and financial strength for Minster Bank has held steady in recent periods.
In the past year, Minster Bank has increased its total deposits by $27.6 million, resulting in 9.37% 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 Minster Bank has shown is excellent.
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. Minster Bank has $372.7 million in assets with $35.46 million in equity, resulting in a capitalization level of 9.52%, which is above average.
|FDIC Certificate #||763|
|Assets and Liabilities|
|Equity Capital||$32.23 million|
|Loan Loss Allowance||$3.24 million|
|Unbacked Noncurrent Loans||$1.39 million|
|Real Estate Owned||$22,000|
|Historic Data - September 2012|
|Equity Capital||$30.38 million|
|Loan Loss Allowance||$3.36 million|
|Unbacked Noncurrent Loans||$1.39 million|
|Real Estate Owned||$58,000|
|Profit Margin - Quarterly|
|Net Interest Margin||3.14%|
|Return on Assets||1.12%|
|Return on Equity||13.36%|
|Interest Income||$8.81 million|
Always verify rates and promotions with the bank or credit union. We are not Minster Bank, we are a rate comparison website and can not provide official rates or promotions.
|1.00%||$10k||-||60 Month CD|
|0.60%||$10k||-||48-59 Month CD|
|0.60%||$5k||-||25 Month CD Special|
|0.40%||$10k||-||36-47 Month CD|
|0.30%||$5k||-||13 Month CD Special|
|0.25%||$10k||-||24-35 Month CD|
|0.15%||$10k||-||12-23 Month CD|
|0.10%||$10k||-||6-11 Month CD|
|Minster Bank Locations|
|Sidney Banking Center Branch||117 West Russell Road||Sidney, OH 45365|
|Troy Banking Center Branch||1280 Experiment Farm Rd||Troy, OH 45373|
|Minster Bank At Wagners Iga||265 East Fourth Street||Minster, OH 45865|
|St. Marys Banking Center Branch||301 West High Street||St. Marys, OH 45885|
|New Bremen Branch||443 South Washington Street||New Bremen, OH 45869|
|Wapakoneta Banking Center Branch||607 North Defiance Street||Wapakoneta, OH 45895|
|Minster Bank||95 West 4th Street||Minster, OH 45865|