North American Savings Bank is headquartered in Grandview and is the 19st largest bank in the state of Missouri. It is also the 569th largest bank in the nation. It was established in 1923 and as of December of 2013, it had grown to 450 employees at 9 locations. North American Savings Bank has a B health rating.
From the beginning it appeared that going with NASB for my mortgage would be a smooth process. This was far from the truth when it got down to crunch time. I DO NOT recommending contacting NASB for anything at all regarding a mortgage.
NASB had 30 days to secure a loan and 38 days to close on my condo. The day before I was suppose to have a loan commitment I received an email from my loan officer at 3:42PM stating they would be late. They had to do an extra “field review”. Mind you my agent said they had never had this problem with the previous 28 units sold in the condo development. Wells Fargo, NASB’s underwriter, demanded this field review to sign off on the loan. The review itself was a bit ridiculous itself considering the developments past, but to realize the review needed to happen less than 24 hours before a loan commitment was due? That’s inexcusable. NASB was 10 days late securing a loan commitment while up until 2 days before it was due all I heard was “Don’t worry we will get it done on time”. This caused me to close 8 business days later than I was expecting to. Also they charged me an extra $325 for an extra appraisal (which was basically just a second appraiser double checking what the first one did) and would not waive that fee even thought NASB was late every single step of the way.
In summary, in a time critical process NASB and their underwriter’s weren’t able to meet any sort of a deadline at all. What good is a decent rating on the BBB website if you can’t meet any deadlines as a mortgage provider?? That’s like being an eight foot ball basketball player and not being able to catch, dribble, or shoot the basketball. PLEASE use somebody else to secure a loan for your new house or condo to avoid what I had to go through. NASB failed to meet any expectations I had for them. I know every company has little slip ups. This was a major one. Stay away from NASB for your mortgage if you want to close on your home on time. Everything NASB was extremely last minute. Reply to this review and I can email you actual emails from NASB with dates and time stamps on them.
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 North American Savings Bank had $34.53 million in non-current loans and owned real-estate with $217.11 million in equity and loan loss allowances on hand to cover it. This gives North American Savings Bank a Texas Ratio of 15.90% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for North American Savings Bank decreased dramatically from 35.99% as of December 31, 2012 to 15.90% as of December 31, 2013, resulting in a positive change of 55.81%.This indicates that the balance sheet and financial strength for North American Savings Bank has improved dramatically in recent periods.
In the past year, North American Savings Bank has decreased its total deposits by -$133.32 million, resulting in -15.14% 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 North American Savings 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. North American Savings Bank has $1.16 billion in assets with $217.11 million in equity, resulting in a capitalization level of 18.69%, which is excellent.
|FDIC Certificate #||29708|
|Assets and Liabilities|
|Equity Capital||$195.84 million|
|Loan Loss Allowance||$21.27 million|
|Unbacked Noncurrent Loans||$23.94 million|
|Real Estate Owned||$10.60 million|
|Historic Data - December 2012|
|Equity Capital||$183.87 million|
|Loan Loss Allowance||$27.85 million|
|Unbacked Noncurrent Loans||$23.94 million|
|Real Estate Owned||$15.31 million|
|Profit Margin - Quarterly|
|Net Interest Margin||4%|
|Return on Assets||1.9%|
|Return on Equity||11.38%|
|Interest Income||$50.05 million|
Always verify rates and promotions with the bank or credit union. We are not North American Savings Bank, we are a rate comparison website and can not provide official rates or promotions.
|0.45%||$75k||-||Select III Savings|
|0.34%||-||-||Smart Savers Savings|
|0.14%||-||-||Stepping Stones Savings|
|0.05%||$50||-||Deposit the Difference Savings|
|0.15%||$2,500||-||Elite 50 Checking|
|1.05%||$10k||-||48 - 59 Month CD with Checking|
|1.05%||$10k||-||60 - 120 Month CD with Checking|
|0.90%||$1k||-||48 - 59 Month CD|
|0.90%||$1k||-||60 - 120 Month CD|
|0.85%||$10k||-||36 - 47 Month CD with Checking|
|0.70%||$1k||-||36 - 47 Month CD|
|0.70%||$10k||-||14 Month CD with Checking|
|0.60%||$10k||-||24 - 35 Month CD with Checking|
|0.50%||$1k||-||14 Month CD|
|0.45%||$1k||-||24 - 35 Month CD|
|0.35%||$10k||-||12 - 23 Month CD with Checking|
|0.30%||$10k||-||6 - 11 Month CD with Checking|
|0.25%||$10k||-||3 - 5 Month CD with Checking|
|0.20%||$1k||-||12 - 23 Month CD|
|0.15%||$1k||-||6 - 11 Month CD|
|0.10%||$1k||-||3 - 5 Month CD|
|1.05%||$10k||-||48 - 59 Month IRA with Checking (Traditional,Roth,CESA)|
|1.05%||$10k||-||60 - 120 Month IRA with Checking (Traditional,Roth,CESA)|
|0.90%||$1k||-||60 - 120 Month IRA (Traditional,Roth,CESA)|
|0.90%||$1k||-||48 - 59 Month IRA (Traditional,Roth,CESA)|
|0.85%||$10k||-||36 - 47 Month IRA with Checking (Traditional,Roth,CESA)|
|0.70%||$1k||-||36 - 47 Month IRA (Traditional,Roth,CESA)|
|0.70%||$10k||-||14 Month IRA with Checking (Traditional,Roth,CESA)|
|0.60%||$10k||-||24 - 35 Month IRA with Checking (Traditional,Roth,CESA)|
|0.50%||$1k||-||14 Month IRA (Traditional,Roth,CESA)|
|0.45%||$1k||-||24 - 35 Month IRA (Traditional,Roth,CESA)|
|0.35%||$10k||-||12 - 23 Month IRA with Checking (Traditional,Roth,CESA)|
|0.35%||$10k||-||12 Month Fixed IRA with Checking (Traditional,Roth,CESA)|
|0.30%||$10k||-||6 - 11 Month IRA with Checking (Traditional,Roth,CESA)|
|0.25%||$10k||-||3 - 5 Month IRA with Checking (Traditional,Roth,CESA)|
|0.20%||$1k||-||12 - 23 Month IRA (Traditional,Roth,CESA)|
|0.20%||$100||-||12 Month Fixed IRA (Traditional,Roth,CESA)|
|0.15%||$1k||-||6 - 11 Month IRA (Traditional,Roth,CESA)|
|0.10%||$1k||-||3 - 5 Month IRA (Traditional,Roth,CESA)|
|North American Savings Bank Locations|
|Community Bank - Excelsior Springs Branch||1001 N Jesse James Road||Excelsior Springs, MO 64024|
|11400 East 23rd Branch||11400 E 23rd Street||Independence, MO 64052|
|North American Savings Bank, F.S.B.||125th and South 71 Highway||Grandview, MO 64030|
|2002 East Mechanic St Branch||2002 East Mechanic Street||Harrisonville, MO 64701|
|Platte City Branch||2707 Prairie View Road||Platte City, MO 64079|
|291 Highway Branch||646 North 291 Highway||Lee's Summit, MO 64063|
|7012 NW Barry Road Branch||7012 NW Barry Road||Kansas City, MO 64153|
|North Oak Trafficway Branch||8501 North Oak Trafficway||Gladstone, MO 64119|
|920 Belt Highway Branch||920 Belt Highway||St. Joseph, MO 64501|