The Central Trust Bank is headquartered in Jefferson City and is the 10st largest bank in the state of Missouri. It is also the 313st largest bank in the nation. It was established in 1902 and as of September of 2013, it had grown to 525 employees at 13 locations. The Central Trust Bank has a A health rating.
On September 18th, 2013 I accepted an offer from Hollywood Casino for a one night complimentary room. I used my Securite Card issued by Central Trust Bank and Missouri Department of Social Services Child Support Division to secure the room. Hollywood Casino placed a 3-7 day hold on the funds for any incidentals that might have occurred (there were none) therefore this was only a hold on the funds and no purchase was made.
For the past two weeks since Sept 19th I've gone back and forth between Hollywood Casino and Central Trust Bank to have my funds released back to my card. Central Trust Bank (CTB) has through several representatives, denied and confirmed themselves to be and to not be the ones holding my funds.
I've been given several conflicting versions of who is holding my funds and the process that it takes to release my funds. I've had all parties involved on the phone at the same time and the merchant confirmed that they only hold funds for a period of 3-7 days and CTB confirmed that they are holding the funds for 15 days just in case a purchase comes through. When speaking with a supervisor at CTB I was then informed that if I did a Pre Authorization to Release on the fourth (4th) day my funds could be released in 2 hours (after they would confirm and verify with the merchant the okay to release the funds early) the merchant faxed over a Pre-Authorization to release funds yet CTB continues to hold my funds steady stating "the merchant" has a 15 day hold on my funds and that the Pre Authorization needs to come from me rather than the merchant. CTB has stated that they have until 12 midnight to release the funds (this then makes it a 16 day hold on my funds). Ms Lomorah White a supervisor at CTB states that this process is systematic and the system cannot be overridden but remember when speaking with another "supervisor" at CTB I was informed that after (4 days I could do a Pre-Authorization Release and the funds would be released in 2 hours). Ms. Whittington a supervisor at CTB states that CTB has until 11:59:30, 11:59:59 or 12 midnight to release my funds or if I did a Pre Authorization to Release the funds would then be released in 24 hours. I was informed by a representative "Melanie" that on the 15th day my funds will be released automatically without a Pre Authorization fax or my contacting them, (this is also false and deceitful information).
If all of this sounds like confusing garble that's because it is, no one at Central Trust Bank works with the same information besides the fact that they refuse to release my funds, this however is who the State of Missouri Family Support Division has entrusted services to for customers receiving of child support payments ( these are child support payments and back arrears owed to me) on a Debit MasterCard issued through Central Trust Bank located in Jefferson City, MO. The funds do not belong to any of the representatives at CTB, Central Trust Bank itself, or to Hollywood Casino and Hotel but to me and I've been given a total run around on whose holding the funds, when the funds can be released and when the my funds will be released.
Please conduct an investigation into this situation especially during times like this with the government shut down and the state of the economy consumers need to be able to pay bills and support their families instead of being given a run around as to whose holding the customers funds and when they will be released. If it were my preference I would have my funds deposited into my personal financial institution account rather than Missouri state pay an institution for services such as these.
The requested information that CTB wanted on this fax is as follows:
My Signature, Merchant Name, Pre Authorization Date, Pre Authorization Amount, Did I contact the merchant?, who did I speak with there? When did I speak with them? What was said?, Why was this transaction not processed?, the merchant's contact number- this is just too much and ridiculous.
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 Central Trust Bank had $13.95 million in non-current loans and owned real-estate with $211.63 million in equity and loan loss allowances on hand to cover it. This gives The Central Trust Bank a Texas Ratio of 6.59% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for The Central Trust Bank held steady from 3.80% as of September 30, 2012 to 6.59% as of September 30, 2013, resulting in a negative change of 73.61%. This indicates that the balance sheet and financial strength for The Central Trust Bank has held steady in recent periods.
In the past year, The Central Trust Bank has increased its total deposits by $103.23 million, resulting in 7.73% 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 Central Trust Bank 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 Central Trust Bank has $2.31 billion in assets with $211.63 million in equity, resulting in a capitalization level of 9.15%, which is average.
|FDIC Certificate #||12633|
|Assets and Liabilities|
|Equity Capital||$196.11 million|
|Loan Loss Allowance||$15.52 million|
|Unbacked Noncurrent Loans||$12.71 million|
|Real Estate Owned||$1.24 million|
|Historic Data - September 2012|
|Equity Capital||$201.45 million|
|Loan Loss Allowance||$14.56 million|
|Unbacked Noncurrent Loans||$12.71 million|
|Real Estate Owned||$1.05 million|
|Profit Margin - Quarterly|
|Net Interest Margin||2.25%|
|Return on Assets||1.07%|
|Return on Equity||11.8%|
|Interest Income||$39.42 million|
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