Average User Rating:
4 star rating based on 1 review.

North Country Savings Bank

127 Main Street
Canton, NY 13617
315-386-4533
www.northcountrysavings.com

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North Country Savings Bank is headquartered in Canton and is the 113^st largest bank in the state of New York. It is also the 2,758^th largest bank in the nation. It was established in 1909 and as of December of 2012, it had grown to 79 employees at 5 locations. North Country Savings Bank has a 5-star health rating.

North Country Savings Bank Routing Number: 221371550

Updated Review of North Country Savings Bank's Advantage Checking Account - 5/10/2012

Last week I started writing updated reviews of some of the mature reward checking accounts that are still nationally available. In this updated review, I'm taking another look at North Country Savings ...

Best Reward Checking Accounts for Large Balance Caps - 11/29/2010

High-yield reward checking accounts that pay the top rates on large balances are rare these days. If you want a balance cap above $25K, it's hard to find, and if you do find one, you may not be happy ...

North Country Savings RCA rate drop (Forum) - 7/3/2010

rate is down from 3% to 2.5%

I Called This Morning And Was Told By The CSR That The 30 Month 2 (Forum) - 3/31/2010

I called this morning and was told by the CSR that the 30 month 2.72r/2.75APY is not a nationwide deal. It is open only to residents of their county.

2010

3/4 - This Bank Asks A Lot Of Security Questions (Forum)
2/10 - What Is Star Rating (Safety Rating) Of North County Savings Bank (Forum)

2009

9/25 - High-Yield Reward Checking Account with a $50K Cap at North Country Savings Bank - Available Nationwide

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

North Country Savings Bank Checking Account Rates

Apy	Min	Max	Product
1.05%	-	$25k	Advantage Checking
0.15%	$2,500	-	Premier Interest Checking
0.05%	$25	-	FREE Business NOW
0.05%	-	-	Low Minimum Interest Checking
0.05%	-	-	No Minimum Interest Checking
0.05%	-	-	Economy Interest Checking
0.05%	-	-	50+ Free Interest Checking
0.05%	-	-	VIP Free Interest Checking

North Country Savings Bank Savings Account Rates

Apy	Min	Max	Product
0.75%	$75k	-	IRA Advantage
0.10%	-	-	Christmas Club
0.10%	-	-	North Country Kids Savings Account
0.10%	$50	-	Passbook Savings Account
0.10%	$50	-	Statement Savings Account
0.10%	$50	-	IRA Passbook Account

North Country Savings Bank Money Market Rates

Apy	Min	Max	Product
0.75%	$75k	-	Money Market Advantage Account
0.15%	$1k	-	Money Market Passbook
0.15%	$2,500	-	Money Market Demand Account
0.15%	$1k	-	Money Market Statement Savings

North Country Savings Bank CD Rates

Apy	Min	Max	Product
1.05%	$500	-	5 Year CD
0.75%	$500	-	4 Year CD
0.70%	$500	-	4 Year Step Up CD
0.65%	$500	-	3 Year CD
0.55%	$500	-	30 Month CD
0.50%	$500	-	2 Year CD
0.30%	$500	-	1 Year CD
0.30%	$500	-	18 Month CD
0.20%	$500	-	6 Month CD

North Country Savings Bank IRA Rates

Apy	Min	Max	Product
1.15%	$500	-	5 Year IRA
0.90%	$500	-	4 Year IRA
0.65%	$500	-	3 Year IRA
0.50%	$500	-	2 Year IRA
0.30%	$500	-	1 Year IRA
0.30%	$500	-	18 Month IRA

Rates updated: 5/21/2013

Data for Q4 2012

Institution Statistics

The North Country Savings Bank
FDIC Certificate #	16030
BankRate Report	View
Year Established	1909
Employees	79
Primary Regulator	FDIC
Assets and Liabilities
Assets	$231.36 million
Loans	$187.94 million
Deposits	$186.77 million
Equity Capital	$29.79 million
Loan Loss Allowance	$893,000
Unbacked Noncurrent Loans	$1.93 million
Real Estate Owned	$519,000
Historic Data - December 2011
Assets	$232.40 million
Equity Capital	$29.95 million
Loan Loss Allowance	$1.00 million
Unbacked Noncurrent Loans	$1.93 million
Real Estate Owned	$554,000
Profit Margin - Quarterly
Net Interest Margin	4.04%
Return on Assets	-0.11%
Return on Equity	-0.83%
Interest Income	$10.49 million

Institution Health

Overall Score:

5 out of 5

Texas Ratio
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, 2012 North Country Savings Bank had $2.45 million in non-current loans and owned real-estate with $30.68 million in equity and loan loss allowances on hand to cover it. This gives North Country Savings Bank a Texas Ratio of 7.99% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for North Country Savings Bank held steady from 8.01% as of December 31, 2011 to 7.99% as of December 31, 2012, resulting in a positive change of 0.29%.This indicates that the balance sheet and financial strength for North Country Savings Bank has held steady in recent periods.
Deposit Growth
In the past year, North Country Savings Bank has decreased its total deposits by $-340,000, resulting in -0.18% 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 Country Savings Bank has shown is average.
Capitalization
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 Country Savings Bank has $231.36 million in assets with $30.68 million in equity, resulting in a capitalization level of 13.26%, which is excellent.

So Far So Good
4 stars

- Anonymous - Tuesday, April 6, 2010 - 10:26 AM

So far so good. Transferred large sum to their hi-yield advantage checking back in Nov'09. Interest rates still 3% apr.

Their website could use some overhaul. They charge a monthly fee for their MoneyHQ transfer system. But you don't have to use it. Can do standard transfer on their regular transfer interface.

They do require a lot of paperwork, even for simple things like adding an external transfer account at another bank. But if you are patient and promptly respond to their requests, things go smoothly.

Their qualifications to meet the hi-yield interest are just slightly easier than other banks. I use their debit card for all my purchases under $10.00. It's easy to meet their 10 debit transactions monthly using that method. ;-)