The Adirondack Trust Company is headquartered in Saratoga Springs and is the 43rd largest bank in the state of New York. It is also the 650th largest bank in the nation. It was established in 1901 and as of September of 2013, it had grown to 246 employees at 12 locations. The Adirondack Trust Company's savings rates are 92% higher than the national average, and it has a A health rating.
The rate was lowered in a dramatic fashion from 3% to 1% apy. The fee being charged still remains at $2 per month.
Just a heads-up everybody: I was trying to move my HSA from Connexus Credit Union (advertised rate of 2% APY only applies to balances over $15,000, and I just opened my first ever HSA as you may know the amount allowed to contribute per year is $3,050.00) to Adirondack whose rate dropped from 5% to 3%APY which is double of what I am earning at Connexus.
And then I saw the following statement on Adirondack website:
Effective October 1st 2011 the following fees will apply:
$25.00 enrollment fee $4.00 monthly service fee. No other details are provided as far as conditions to have the monthly fee waived. I need to call and find out, but I have a feeling that they think they can adopt these fees because of the higher rate available nationwide.
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, 2013 The Adirondack Trust Company had $9.73 million in non-current loans and owned real-estate with $114.36 million in equity and loan loss allowances on hand to cover it. This gives The Adirondack Trust Company a Texas Ratio of 8.51% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for The Adirondack Trust Company held steady from 8.96% as of September 30, 2012 to 8.51% as of September 30, 2013, resulting in a positive change of 5.11%.This indicates that the balance sheet and financial strength for The Adirondack Trust Company has held steady in recent periods.
In the past year, The Adirondack Trust Company has increased its total deposits by $42.64 million, resulting in 5.02% 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 The Adirondack Trust Company has shown is excellent.
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. The Adirondack Trust Company has $1.02 billion in assets with $114.36 million in equity, resulting in a capitalization level of 11.23%, which is excellent.
|FDIC Certificate #||660|
|Assets and Liabilities|
|Equity Capital||$105.46 million|
|Loan Loss Allowance||$8.90 million|
|Unbacked Noncurrent Loans||$6.51 million|
|Real Estate Owned||$3.22 million|
|Historic Data - September 2012|
|Equity Capital||$104.89 million|
|Loan Loss Allowance||$9.33 million|
|Unbacked Noncurrent Loans||$6.51 million|
|Real Estate Owned||$3.52 million|
|Profit Margin - Quarterly|
|Net Interest Margin||2.79%|
|Return on Assets||0.67%|
|Return on Equity||6.56%|
|Interest Income||$20.64 million|
Always verify rates and promotions with the bank or credit union. We are not The Adirondack Trust Company, we are a rate comparison website and can not provide official rates or promotions.
|1.00%||-||-||Health Savings Account|
|0.25%||$200k||-||High Peaks Tiered Money Market|
|0.25%||$500k||-||Corporate High Peaks Tiered Money Market|
|0.10%||$2,500||-||Money Market (MMDA)|
|0.10%||-||-||High Yield Money Market|
|0.50%||$500||-||3 Year CD|
|0.35%||$500||-||2 Year CD|
|0.20%||$500||-||1 Year CD|
|0.15%||$500||-||182 Day CD|
|0.10%||$500||-||7 Day CD|
|0.10%||$500||-||32 Day CD|
|0.10%||$500||-||91 Day CD|
|0.50%||$500||-||3 Year IRA|
|0.50%||$500||-||3 Year Roth IRA|
|0.50%||$500||-||3 Year SEP IRA|
|0.50%||$500||-||3 Year Education IRA|
|0.35%||$500||-||2 Year IRA|
|0.35%||$500||-||2 Year Roth IRA|
|0.35%||$500||-||2 Year SEP IRA|
|0.35%||$500||-||2 Year Education IRA|
|0.20%||$500||-||1 Year IRA|
|0.20%||$500||-||1 Year Roth IRA|
|0.20%||$500||-||1 Year SEP IRA|
|0.20%||$500||-||1 Year Education IRA|
|0.15%||$500||-||182 Day IRA|
|0.15%||$500||-||182 Day Roth IRA|
|0.15%||$500||-||182 Day SEP IRA|
|0.15%||$500||-||182 Day Education IRA|
|0.10%||$500||-||91 Day IRA|
|0.10%||$500||-||91 Day Roth IRA|
|0.10%||$500||-||91 Day SEP IRA|
|0.10%||$500||-||91 Day Education IRA|