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The Security State Bank

Based on 1 review
The Security State Bank
Overview / Commentary
101 North Washington
Wellington, KS 67152

The Security State Bank is headquartered in Wellington and is the 189th largest bank in the state of Kansas. It is also the 5,597th largest bank in the nation. It was established in 1897 and as of March of 2014, it had grown to 18 employees at 3 locations. The Security State Bank has a B health rating.

Reviews (1)

VERY UNHAPPY!

My husband and I have been banking through this bank since 2009, so for four years. Just within the first year, they screwed up our deposits. We put our checks in the bank and went to pay bills and get odds and ends for the house, and we ended up overdrafting $500 or so in the first day we got our checks. The reason for that was that they never added our money into the acct. They did five days later. We have overdrafted so many times just because of their mess ups. They don't like to add your money in when you put it in there; it's been almost 24 hours since we made a deposit, and it's still not in there. I recommend that NOBODY goes to this bank.  We have had so many problems that it's ridiculous. They do try to make it right once you confront them, but I am tired of not being able to do what I need to do with my money when I put the money in the bank. It's time to switch banks, and get ahold of the administrator. This is the last straw.



Health

Data for Q1 2014

Institution Health

B
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. The Security State Bank has a relatively low asset base.

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 The Security State Bank had $1.76 million in non-current loans and owned real-estate with $8.66 million in equity and loan loss allowances on hand to cover it. This gives The Security State Bank a Texas Ratio of 20.39% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for The Security State Bank experienced no significant changes from 22.32% as of March 31, 2013 to 20.39% as of March 31, 2014, resulting in a positive change of 8.66%.This indicates that the balance sheet and financial strength for The Security State Bank has had no significant changes in recent periods.

Deposit Growth

GRADE:
B+

In the past year, The Security State Bank has increased its total deposits by $1.37 million, resulting in 2.47% 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 Security State Bank has shown is above 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. The Security State Bank has $64.74 million in assets with $8.66 million in equity, resulting in a capitalization level of 13.37%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #12422
Year Established1897
Employees18
Primary RegulatorFDIC
Assets and Liabilities
Assets$64.74 million
Loans$35.93 million
Deposits$56.85 million
Equity Capital$7.64 million
Loan Loss Allowance$1.02 million
Unbacked Noncurrent Loans$1.73 million
Real Estate Owned$37,000
Historic Data - March 2013
Assets$63.68 million
Equity Capital$7.93 million
Loan Loss Allowance$850,000
Unbacked Noncurrent Loans$1.73 million
Real Estate Owned$30,000
Profit Margin - Quarterly
Net Interest Margin4.47%
Return on Assets0.65%
Return on Equity5.36%
Interest Income$723,000
Rates

Sorry, we do not have rate data for The Security State Bank

Locations


The Security State Bank Locations
The Security State Bank101 North Washington AvenueWellington, KS 67152
Wellington Branch113 East HarveyWellington, KS 67152
The Security State Bank2022 E. 16th StreetWellington, KS 67152