STAR Financial Bank is headquartered in Fort Wayne and is the 10st largest bank in the state of Indiana. It is also the 423rd largest bank in the nation. It was established in 1988 and as of December of 2013, it had grown to 512 employees at 45 locations. STAR Financial Bank has a A health rating.
Star Caused Financial Hardship On My Family
I obtained a business loan through Star Financial. The business was unsucessful and had to close. Star Financial sued me and garnished my wages for $1,000/ month not leaving enough money to provide for my family so we had to depend upon relatives. New slogan suggestion: Star Financial: your kids went hungry but at least we got our money.
Loan Troubles
I have had a boat loan thru Star since 2010. The dealership is the one that set up the loan. Ever since then it has been a nightmare. The first year I was making my payments from my payment book. The next year I started recieving late payment statements for no reason. When I called them they told me my insurance wasn't correct on the boat and that is why they had to charge me more. I checked with my insurance and the boat was covered correctly. The bank was wrong. After about 2 months they sent me another payment book with my payment raised and I am not sure why. I just talked to them yesterday and they still say I don't have the correct insurance. By the way I have never recieved any kind of statement from the bank telling me what I owe on the boat. Their answer to that was that they don't send out statements. You have to personally walk into the bank or call for the amount. I will never do business with Star again.
Helpful Bank?
We Have had a checking account with Star Financial Bank for 11yrs. My wife and i are disabled and have our checks direct deposited. For that Star Bank has been great. No problems and always help with correcting account errors. I admit when we started out that our credit was'nt good, but over the 11 yrs we worked hard to straighten it out and have got our credit score to the middle 700's. We have have ask Star bank for 3 different loans on three different occations and each time the answer came back "no". We were however able to go to other banks and high end credit cards to get our financial needs. That is the only complaint we have against Star Bank.
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 STAR Financial Bank had $11.29 million in non-current loans and owned real-estate with $185.22 million in equity and loan loss allowances on hand to cover it. This gives STAR Financial Bank a Texas Ratio of 6.10% 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 STAR Financial Bank decreased dramatically from 10.82% as of December 31, 2012 to 6.10% as of December 31, 2013, resulting in a positive change of 43.66%.This indicates that the balance sheet and financial strength for STAR Financial Bank has improved dramatically in recent periods.
Deposit Growth
In the past year, STAR Financial Bank has decreased its total deposits by -$1.22 million, resulting in -0.09% 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 STAR Financial Bank has shown is 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. STAR Financial Bank has $1.66 billion in assets with $185.22 million in equity, resulting in a capitalization level of 11.13%, which is excellent.
Institution Statistics
| Overall | |
|---|---|
| FDIC Certificate # | 27235 |
| Year Established | 1988 |
| Employees | 512 |
| Primary Regulator | FDIC |
| Assets and Liabilities | |
|---|---|
| Assets | $1.66 billion |
| Loans | $1.18 billion |
| Deposits | $1.41 billion |
| Equity Capital | $164.53 million |
| Loan Loss Allowance | $20.69 million |
| Unbacked Noncurrent Loans | $8.47 million |
| Real Estate Owned | $2.83 million |
| Historic Data - December 2012 | |
|---|---|
| Assets | $1.66 billion |
| Equity Capital | $160.21 million |
| Loan Loss Allowance | $21.09 million |
| Unbacked Noncurrent Loans | $8.47 million |
| Real Estate Owned | $5.31 million |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 3.52% |
| Return on Assets | 0.76% |
| Return on Equity | 7.71% |
| Interest Income | $56.60 million |
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STAR Financial Bank Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.45% | $10k | - | HSA | |
| 0.16% | $2,500k | - | Preferred Liquidity Fund | |
| 0.02% | - | - | Regular Savings | |
| 0.02% | - | - | Cosmo Kid's Club |
STAR Financial Bank Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.05% | $10k | - | Money Market Savings |
STAR Financial Bank Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.05% | $20k | - | Interest Checking |
STAR Financial Bank CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.25% | $1k | - | 5 Year Star Relationship CD | |
| 1.15% | $1k | - | 60 Month CD | |
| 1.15% | $1k | - | 60 Month HSA CD | |
| 1.00% | $1k | - | 4 Year Star Relationship CD | |
| 0.90% | $1k | - | 48 Month CD | |
| 0.90% | $1k | - | 48 Month HSA CD | |
| 0.65% | $1k | - | 3 Year Star Relationship CD | |
| 0.55% | $1k | - | 36 Month CD | |
| 0.55% | $1k | - | 36 Month HSA CD | |
| 0.35% | $1k | - | 30 Month Star Relationship CD | |
| 0.30% | $1k | - | 30 Month CD | |
| 0.30% | $1k | - | 30 Month HSA CD | |
| 0.30% | $1k | - | 2 Year Star Relationship CD | |
| 0.25% | $1k | - | 24 Month CD | |
| 0.25% | $1k | - | 24 Month HSA CD | |
| 0.25% | $1k | - | 18 Month Star Relationship CD | |
| 0.23% | $1k | - | 15 Month Star Relationship CD | |
| 0.20% | $1k | - | 18 Month CD | |
| 0.20% | $1k | - | 18 Month HSA CD | |
| 0.20% | $1k | - | 1 Year Star Relationship CD | |
| 0.18% | $1k | - | 15 Month CD | |
| 0.18% | $1k | - | 15 Month HSA CD | |
| 0.16% | $1k | - | 9 Month Star Relationship CD | |
| 0.15% | $1k | - | 12 Month CD | |
| 0.15% | $1k | - | 12 Month HSA CD | |
| 0.13% | $1k | - | 6 Month Star Relationship CD | |
| 0.11% | $1k | - | 9 Month CD | |
| 0.11% | $1k | - | 9 Month HSA CD | |
| 0.10% | $5k | - | 14 Day Star Power CD | |
| 0.10% | $1k | - | 3 Month Star Relationship CD | |
| 0.08% | $1k | - | 6 Month CD | |
| 0.08% | $1k | - | 6 Month HSA CD | |
| 0.07% | $1k | - | 1 Month Star Relationship CD |
STAR Financial Bank has 48 locations. Click to view all STAR Financial Bank locations.