SFGI Direct

SFGI Direct is headquartered in Moorefield and is the 4^th largest bank in the state of West Virginia. It is also the 458^th largest bank in the nation. It was established in 1995 and as of September of 2011, it had grown to 200 employees at 17 locations. SFGI Direct's savings rates are 94% higher than the national average, and it has a 3-star health rating.

Related Posts

2011

• 1/11 - Today's Top 3 Liquid Bank Accounts: Checking, Savings & Money Market

2010

• 12/6 - SFGI Direct Increases Rate on its Internet Savings Accounts
• 12/5 - SFGI Direct Raises Savings Account Yield From 1.26% To 1.41% (Forum)
• 3/27 - Note On Their Website On 3/27/10 Says They Are Not Accepting New Accounts Into This Program At This (Forum)

2009

• 11/5 - Last Chance at the 2.25% Savings Account at SFGI Direct?
• 10/27 - Update on SFGI Direct - The Top Online Savings Account
• 9/30 - SFGI Direct's 2.25% Online Savings Account Is Open Again But With Changes
• 7/25 - Competitive Online Savings Account at SFGI Direct

SFGI Direct Savings Account Rates

Data for Q3 2011

Institution Statistics Summit Community Bank, Inc FDIC Certificate # 34102 BankRate Report View Year Established 1995 Employees 200 Primary Regulator FDIC Assets and Liabilities Assets $1.46 billion Loans $964.64 million Deposits $1.05 billion Equity Capital $132.85 million Loan Loss Allowance $17.95 million Unbacked Noncurrent Loans $36.26 million Real Estate Owned $63.34 million Historic Data - September 2010 Assets $1.49 billion Equity Capital $126.76 million Loan Loss Allowance $18.87 million Unbacked Noncurrent Loans $29.29 million Real Estate Owned $68.35 million Profit Margin - Quarterly Net Interest Margin 3.22% Return on Assets 0.27% Return on Equity 3.03% Interest Income $53.95 million

Institution Health Overall Score: 3 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 September 30, 2011 SFGI Direct had $99.59 million in non-current loans and owned real-estate with $150.79 million in equity and loan loss allowances on hand to cover it. This gives SFGI Direct a Texas Ratio of 66.04% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk. Texas Ratio Trend The Texas Ratio for SFGI Direct held steady from 67.05% as of September 30, 2010 to 66.04% as of September 30, 2011, resulting in a positive change of 1.50%.This indicates that the balance sheet and financial strength for SFGI Direct has held steady in recent periods. Deposit Growth In the past year, SFGI Direct has increased its total deposits by $18.72 million, resulting in 1.81% 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 SFGI Direct has shown is above 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. SFGI Direct has $1.46 billion in assets with $150.79 million in equity, resulting in a capitalization level of 10.35%, which is above average.

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