2.5 star ratingAverage User Rating:
2.5 star rating based on 3 reviews.

Proficio Bank

Proficio Bank Locations
420 East South Temple
Salt Lake City, UT 84111
www.proficiobank.com



Proficio Bank is headquartered in Cottonwood Heigh and is the 36th largest bank in the state of Utah. It is also the 3,215st largest bank in the nation. It was established in 2000 and as of March of 2012, it had grown to 407 employees at 1 location. Proficio Bank has a 2-star health rating.

Proficio Bank Routing Number: 124084779


Data for Q1 2012


Institution Statistics


Proficio Bank
FDIC Certificate #35495
BankRate ReportView
Year Established2000
Employees407
Primary RegulatorFDIC

Assets and Liabilities

Assets$193.07 million
Loans$113.83 million
Deposits$175.67 million
Equity Capital$12.83 million
Loan Loss Allowance$2.68 million
Unbacked Noncurrent Loans$2.66 million
Real Estate Owned$14.33 million

Historic Data - March 2011

Assets$142.26 million
Equity Capital$18.04 million
Loan Loss Allowance$3.11 million
Unbacked Noncurrent Loans$13.59 million
Real Estate Owned$9.74 million

Profit Margin - Quarterly

Net Interest Margin3.1%
Return on Assets1.9%
Return on Equity25.71%
Interest Income$1.44 million

Institution Health


Overall Score:
2 out of 5
2
Texas Ratio1
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 Proficio Bank had $16.99 million in non-current loans and owned real-estate with $15.51 million in equity and loan loss allowances on hand to cover it. This gives Proficio Bank a Texas Ratio of 109.54% which is poor. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Proficio Bank held steady from 107.52% as of March 31, 2011 to 109.54% as of March 31, 2012, resulting in a negative change of 1.88%. This indicates that the balance sheet and financial strength for Proficio Bank has held steady in recent periods.
Deposit Growth5
In the past year, Proficio Bank has increased its total deposits by $56.96 million, resulting in 47.98% 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 Proficio Bank has shown is excellent.
Capitalization3
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. Proficio Bank has $193.07 million in assets with $15.51 million in equity, resulting in a capitalization level of 8.03%, which is average.
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*Do Not Use*
1 stars - cdiorka - Friday, June 3, 2011 - 9:11 AM

I would definitely NOT recommend using Proficio Bank/Community First Bank of Schaumburg to get a home loan.  Our main contact was Vito and we were not satisfied with the service we received.  In the beginning, he was very quick to respond to our questions/concerns but when we really needed him – right before closing, it was impossible to get answers or to reach him.  We didn't find out we were approved until two days before closing.  They asked us for the application documents several times and didn't appear organized.  While we were sitting at our closing, Proficio decided that they weren’t going to approve our $2,000 towards closing costs.  They even asked our realtor for advice on how they could make it work.  They seemed like they didn’t know what they were doing and waited to the very last minute.  We are lucky we closed on time.

5

Proficio Has Poor Customer Service
1 stars - tonjota - Thursday, January 26, 2012 - 4:10 PM

My husband talked with one loan officer and she was really nice to him. She called me to get financial information from me to give me a quote. I told her that I never heard of Proficio and that I wanted more information. She did not like that answer and started being rude to me. Telling me that I was going about this all wrong. I told her that we were not interested in this company. Then today I received a call from another loan officer and he told me that  I was rude and told me he did not care if I became a customer at the end of our conversation. Never in my life have I had people treat me with such disrespect and tell me that they did not want me as a customer. I decided that I would go with another company that had better customer service. I would not recommend this company to anyone.  I have never had a person call me and then tell me they wanted to educate me about mortages and that they did not care if I became a customer.  Customer service should be number one with a company and there no one should ever be told that they are not wanted as a customer. 

4

Wonderful Service
5 stars - RobertTimbrook - Tuesday, April 24, 2012 - 10:00 PM

I must say I had wonderful service from this company.they were in contact with me every couple days iinforming of the status of my loan.very friendly and everything they promised to me was exactly correct when the notary came to my home to sign the closing documents! I have refinanced 3 times in the last 7 years and I must say this bank was by far the best!!

3