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Overview / Commentary
800.524.CASH
1359 N. Grand Avenue
Covina, CA 91724

Simplicity Bank is headquartered in Covina and is the 60th largest bank in the state of California. It is also the 787th largest bank in the nation. It was established in 1953 and as of March of 2014, it had grown to 121 employees at 8 locations. Simplicity Bank has a B+ health rating.

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Top Checking Account Rate at Simplicity Bank - 3/20/2014

Simplicity Bank just increased the rates on all tiers of its Relationship Checking account. The top-tier interest rate is now 1.25% APY. This requires a minimum balance of $75K. The rated drops to 1.0 ...



Reviews (1)

Bad Service

All that I can say is that this is the worst bank ever.



Health

Data for Q1 2014

Institution Health

B+

Texas Ratio

GRADE:
B+

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 Simplicity Bank had $14.78 million in non-current loans and owned real-estate with $129.34 million in equity and loan loss allowances on hand to cover it. This gives Simplicity Bank a Texas Ratio of 11.43% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Simplicity Bank decreased slightly from 14.34% as of March 31, 2013 to 11.43% as of March 31, 2014, resulting in a positive change of 20.32%.This indicates that the balance sheet and financial strength for Simplicity Bank has improved slightly in recent periods.

Deposit Growth

GRADE:
D

In the past year, Simplicity Bank has decreased its total deposits by -$36.09 million, resulting in -5.31% 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 Simplicity Bank has shown is below average.

Capitalization

GRADE:
A+

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. Simplicity Bank has $861.08 million in assets with $129.34 million in equity, resulting in a capitalization level of 15.02%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #35448
Year Established1953
Employees121
Primary RegulatorOCC
Assets and Liabilities
Assets$861.08 million
Loans$725.58 million
Deposits$643.14 million
Equity Capital$124.33 million
Loan Loss Allowance$5.01 million
Unbacked Noncurrent Loans$14.50 million
Real Estate Owned$284,000
Historic Data - March 2013
Assets$882.25 million
Equity Capital$132.47 million
Loan Loss Allowance$6.44 million
Unbacked Noncurrent Loans$14.50 million
Real Estate Owned$264,000
Profit Margin - Quarterly
Net Interest Margin3.27%
Return on Assets0.6%
Return on Equity4.19%
Interest Income$8.26 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Simplicity Bank, we are a rate comparison website and can not provide official rates or promotions.

Simplicity Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.25%--Holiday Club
0.05%$100-Savings Account
0.05%$100-IRA Savings
0.05%$100-Roth IRA Savings
0.05%$100-CESA Savings
0.05%$100-Youth Savings Account

Simplicity Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.30%$75k-Money Maximizer IRA
0.30%$75k-Money Maximizer

Simplicity Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
1.05%$75k-Relationship Checking

Simplicity Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-5 Year CD
0.80%$1k-3 Year to Less than 5 Year CD
0.50%$1k-2 Year to Less than 3 Year CD
0.40%$1k-1 Year to Less than 2 Year CD
0.30%$1k-182 - 364 Day CD
0.20%$1k-90 - 181 Day CD

Simplicity Bank IRA Rates

DetailsAPYMINMAXPRODUCT
1.75%$10k-5 Year IRA
1.25%$10k-3 Yr to <5 Yr IRA
0.90%$10k-2 Yr to <3 Yr IRA
0.40%$10k-1 Yr to <2 Yr IRA
0.30%$10k-182 - 364 Day IRA
Locations


Simplicity Bank Locations
Los Angeles Branch1118 N Vermont Ave.Los Angeles, CA 90029
Downey Branch114 Stonewood StreetDowney, CA 90241
Simplicity Bank1359 N. Grand AvenueCovina, CA 91724
Pasadena Branch252 S Lake Ave.Pasadena, CA 91101
Harbor City Branch26640 Western Ave. Ste. NHarbor City, CA 90710
Northern California Branch3375 Scott Boulevard, Suite 312Santa Clara, CA 95054
Glendora Branch650 S Grand Ave Suite 105Glendora, CA 91740
Panorama City Branch8501 Van Nuys BoulevardPanorama City, CA 91402
Sierra Avenue Branch9714 Sierra AvenueFontana, CA 92335