Prime Bank

Prime Bank is headquartered in Orange and is the 51^st largest bank in the state of Connecticut. It is also the 6,145^th largest bank in the nation. It was established in 1990 and as of March of 2012, it had grown to 8 employees at 1 location. Prime Bank has a 5-star health rating.

Prime Bank Routing Number: 011104335

Data for Q1 2012

Institution Statistics Prime Bank FDIC Certificate # 32836 BankRate Report View Year Established 1990 Employees 8 Primary Regulator FDIC Assets and Liabilities Assets $57.29 million Loans $25.25 million Deposits $48.92 million Equity Capital $8.27 million Loan Loss Allowance $381,000 Unbacked Noncurrent Loans $550,000 Historic Data - March 2011 Assets $51.26 million Equity Capital $7.69 million Loan Loss Allowance $330,000 Unbacked Noncurrent Loans $704,000 Profit Margin - Quarterly Net Interest Margin 3.01% Return on Assets 0.62% Return on Equity 4.17% Interest Income $562,000

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 March 31, 2012 Prime Bank had $550,000 in non-current loans and owned real-estate with $8.65 million in equity and loan loss allowances on hand to cover it. This gives Prime Bank a Texas Ratio of 6.36% 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 Prime Bank decreased slightly from 8.78% as of March 31, 2011 to 6.36% as of March 31, 2012, resulting in a positive change of 27.59%.This indicates that the balance sheet and financial strength for Prime Bank has improved slightly in recent periods. Deposit Growth In the past year, Prime Bank has increased its total deposits by $5.42 million, resulting in 12.46% 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 Prime Bank has shown is excellent. 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. Prime Bank has $57.29 million in assets with $8.65 million in equity, resulting in a capitalization level of 15.10%, which is excellent.

No reviews have been left for this bank yet. Be the first to review.