Reliance Bank is headquartered in Altoona and is the 89th largest bank in the state of Pennsylvania. It is also the 1,688th largest bank in the nation. It was established in 1939 and as of March of 2014, it had grown to 97 employees at 7 locations. Reliance Bank has a A+ health rating.
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New Management
The State College branch of this bank has new management and it is no longer the friendly place that it used to be. It used to be a very friendly place, but that has changed.
Data for Q1 2014
Institution Health
Texas Ratio
The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Reliance Bank had $2.44 million in non-current loans and owned real-estate with $48.75 million in equity and loan loss allowances on hand to cover it. This gives Reliance Bank a Texas Ratio of 5.00% 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 Reliance Bank decreased slightly from 5.60% as of March 31, 2013 to 5.00% as of March 31, 2014, resulting in a positive change of 10.77%.This indicates that the balance sheet and financial strength for Reliance Bank has improved slightly in recent periods.
Deposit Growth
In the past year, Reliance Bank has increased its total deposits by $12 million, resulting in 4.28% 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 Reliance 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. Reliance Bank has $396 million in assets with $48.75 million in equity, resulting in a capitalization level of 12.31%, which is excellent.
Institution Statistics
| Overall | |
|---|---|
| FDIC Certificate # | 30117 |
| Year Established | 1939 |
| Employees | 97 |
| Primary Regulator | FDIC |
| Assets and Liabilities | |
|---|---|
| Assets | $396.00 million |
| Loans | $297.11 million |
| Deposits | $292.16 million |
| Equity Capital | $45.10 million |
| Loan Loss Allowance | $3.65 million |
| Unbacked Noncurrent Loans | $2.06 million |
| Real Estate Owned | $374,000 |
| Historic Data - March 2013 | |
|---|---|
| Assets | $382.21 million |
| Equity Capital | $43.62 million |
| Loan Loss Allowance | $3.49 million |
| Unbacked Noncurrent Loans | $2.06 million |
| Real Estate Owned | $615,000 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 3.34% |
| Return on Assets | 0.46% |
| Return on Equity | 4.04% |
| Interest Income | $3.51 million |
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Reliance Bank Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.25% | $50 | - | Christmas Club | |
| 0.25% | $50 | - | Vacation Club | |
| 0.25% | - | - | Young Savers | |
| 0.15% | $2,500 | - | Statement Savings |
Reliance Bank Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.26% | $25k | - | Mutual Advantage MMDA | |
| 0.25% | $100k | - | Money Market Deposit Account |
Reliance Bank Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.80% | - | $25k | Reward Checking - Qualifying | |
| 0.30% | $100k | - | Estate Checking Account | |
| 0.25% | $50k | - | Mutual Club Plus Checking | |
| 0.20% | $50k | - | Traditions Checking | |
| 0.05% | - | - | Reward Checking - Non Qualifying |
Reliance Bank CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.15% | $500 | - | 60 Month CD | |
| 1.00% | $5k | - | 36 Month Rate Plus CD | |
| 0.90% | $500 | - | 48 Month CD | |
| 0.80% | $500 | - | 36 Month CD | |
| 0.75% | $5k | - | 25 Month RatePlus CD | |
| 0.70% | $500 | - | 30 Month CD | |
| 0.60% | $500 | - | 24 Month CD | |
| 0.50% | $500 | - | 18 Month CD | |
| 0.45% | $5k | - | 24 Month Rate Plus CD | |
| 0.40% | $2,500 | - | 18 Month Variable CD | |
| 0.35% | $500 | - | 12 Month CD | |
| 0.30% | $2,500 | - | 12 Month Variable CD | |
| 0.20% | $2,500 | - | 6 Month Variable CD | |
| 0.20% | $500 | - | 6 Month CD | |
| 0.20% | $500 | - | 9 Month CD | |
| 0.15% | $500 | - | 91 Day CD |
Reliance Bank IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.15% | $500 | - | 60 Month Fixed Rate IRA | |
| 0.90% | $500 | - | 48 Month Fixed Rate IRA | |
| 0.70% | $500 | - | 30 Month Fixed Rate IRA | |
| 0.50% | $500 | - | 18 Month Fixed Rate IRA | |
| 0.35% | $500 | - | 12 Month Fixed Rate IRA |
| Reliance Bank Locations | ||
|---|---|---|
| North Atherton Branch | 100 Hawbaker Industrial Drive | State College, PA 16803 |
| Reliance Savings Bank | 1119 Twelfth Street | Altoona, PA 16601 |
| Meadows Branch | 1254 Plank Rd | Duncansville, PA 16635 |
| 17th Street Branch | 1921 Pleasant Valley Boulevard | Altoona, PA 16602 |
| Plank Road Branch | 226 W Plank Road | Altoona, PA 16602 |
| Lakemont Branch | 401 S. Logan Blvd | Altoona, PA 16602 |
| Tyrone Branch | 916 Pennsylvania Ave | Tyrone, PA 16686 |