Reliance Bank
Reliance Bank is headquartered in Altoona and is the 87th largest bank in the state of Pennsylvania. It is also the 1,675th largest bank in the nation. It was established in 1939 and as of December of 2013, it had grown to 98 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 Q4 2013
Institution Health
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, 2013 Reliance Bank had $2.7 million in non-current loans and owned real-estate with $47.67 million in equity and loan loss allowances on hand to cover it. This gives Reliance Bank a Texas Ratio of 5.65% 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 experienced no significant changes from 4.35% as of December 31, 2012 to 5.65% as of December 31, 2013, resulting in a negative change of 29.83%. This indicates that the balance sheet and financial strength for Reliance Bank has had no significant changes in recent periods.
Deposit Growth
In the past year, Reliance Bank has increased its total deposits by $19.04 million, resulting in 6.95% 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 $397.74 million in assets with $47.67 million in equity, resulting in a capitalization level of 11.99%, which is excellent.
Institution Statistics
| Overall | |
|---|---|
| FDIC Certificate # | 30117 |
| Year Established | 1939 |
| Employees | 98 |
| Primary Regulator | FDIC |
| Assets and Liabilities | |
|---|---|
| Assets | $397.74 million |
| Loans | $299.02 million |
| Deposits | $293.23 million |
| Equity Capital | $44.08 million |
| Loan Loss Allowance | $3.59 million |
| Unbacked Noncurrent Loans | $2.28 million |
| Real Estate Owned | $416,000 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $382.24 million |
| Equity Capital | $42.95 million |
| Loan Loss Allowance | $3.37 million |
| Unbacked Noncurrent Loans | $2.28 million |
| Real Estate Owned | $322,000 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 3.36% |
| Return on Assets | 0.59% |
| Return on Equity | 5.29% |
| Interest Income | $13.98 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 | |
| 0.30% | $100k | - | Estate Checking Account | |
| 0.25% | $50k | - | Mutual Club Plus Checking | |
| 0.20% | $50k | - | Traditions Checking | |
| 0.05% | - | - | Reward Checking |
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% | $2,500 | - | 18 Month Variable CD | |
| 0.45% | $5k | - | 24 Month Rate Plus CD | |
| 0.40% | $500 | - | 12 Month CD | |
| 0.35% | $2,500 | - | 12 Month Variable CD | |
| 0.25% | $2,500 | - | 6 Month Variable CD | |
| 0.25% | $500 | - | 6 Month CD | |
| 0.25% | $500 | - | 9 Month CD | |
| 0.20% | $500 | - | 91 Day CD |
Reliance Bank IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.15% | $500 | - | 60 Month Fixed Rate IRA (Traditional,Roth) | |
| 0.90% | $500 | - | 48 Month Fixed Rate IRA (Traditional,Roth) | |
| 0.70% | $500 | - | 30 Month Fixed Rate IRA (Traditional,Roth) | |
| 0.50% | $500 | - | 18 Month Fixed Rate IRA (Traditional,Roth) | |
| 0.40% | $500 | - | 12 Month Fixed Rate IRA (Traditional,Roth) |
| 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 |