The Andover Bank

The Andover Bank is headquartered in Andover and is the 61^st largest bank in the state of Ohio. It is also the 1,972^nd largest bank in the nation. It was established in 1884 and as of March of 2012, it had grown to 94 employees at 8 locations. The Andover Bank has a 4-star health rating.

The Andover Bank Routing Number: 041208719

Data for Q1 2012

Institution Statistics The Andover Bank FDIC Certificate # 10663 BankRate Report View Year Established 1884 Employees 94 Primary Regulator FED Assets and Liabilities Assets $331.20 million Loans $147.57 million Deposits $280.91 million Equity Capital $32.80 million Loan Loss Allowance $1.45 million Unbacked Noncurrent Loans $2.07 million Real Estate Owned $950,000 Historic Data - March 2011 Assets $307.81 million Equity Capital $27.87 million Loan Loss Allowance $1.49 million Unbacked Noncurrent Loans $2.97 million Real Estate Owned $385,000 Profit Margin - Quarterly Net Interest Margin 3.71% Return on Assets 1.14% Return on Equity 11.62% Interest Income $3.29 million

Institution Health Overall Score: 4 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 March 31, 2012 The Andover Bank had $3.02 million in non-current loans and owned real-estate with $34.25 million in equity and loan loss allowances on hand to cover it. This gives The Andover Bank a Texas Ratio of 8.83% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk. Texas Ratio Trend The Texas Ratio for The Andover Bank decreased slightly from 11.43% as of March 31, 2011 to 8.83% as of March 31, 2012, resulting in a positive change of 22.79%.This indicates that the balance sheet and financial strength for The Andover Bank has improved slightly in recent periods. Deposit Growth In the past year, The Andover Bank has increased its total deposits by $12.86 million, resulting in 4.8% 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 Andover Bank 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. The Andover Bank has $331.2 million in assets with $34.25 million in equity, resulting in a capitalization level of 10.34%, which is above average.

No reviews have been left for this bank yet. Be the first to review.