Tioga State Bank is headquartered in Spencer and is the 90th largest bank in the state of New York. It is also the 1,672nd largest bank in the nation. It was established in 1884 and as of September of 2013, it had grown to 93 employees at 11 locations. Tioga State Bank has a B+ health rating.
Two days after opening my account I found out that I couldn't make deposits to this bank via arms... I also discovered that I couldn't do a joint account with my 12 year. Decided to move my money elsewhere and the want $25.00 plus change. When I found this out I told them to stop. As I was walking out the door, the main branch manager instructed the worker to close the account and mail the check.. extremely rude...which is a shame because I was hoping to bank locally. Beware. They are a bank just looking to charge fees any way they can.
I've been with this 'small' bank for YEARS, but recent customer service flubs is going to make me switch to Scottrade Bank where I have a brokerage account. At least at Scottrade I can talk to people easier after 4pm, etc. Tioga State Bank recent flubs, IMO? 1) Posting a check to my account from Aug. 2012 when the check states VOID AFTER 90 DAYS, the date posted was Jan. 25, 2013. Well after 90 days. 2) Deposit funds deposited LATE due to the MY branch office has a PO BOX and "HAS to WAIT UNTIL SOMEONE IS AVAILABLE TO GO PICK UP MAIL". That's the answer i rec'd when I inquired why my deposit was not posted yet. This was at 3:45PM! MAIL WAS STILL NOT picked up! Hard to believe that way of doing business in 2013, IMO. The result was a $30 fee from the bank becos the same day a bill was posted. Either one of the items mentioned above could have warranted customer service contact. Seems a good way to charge extra fees. This happened on the same day. Customer mail does not seem to be important to Tioga. I could list other things also, but... I gave 2 stars instead of 1 becos I assume the employees mean well but are bound by this banks procedures. And the bank never finds fault with themselves. I did contact customer service and management. Answers are "It's another bank's fault and the customer's fault." This is why I've moved the bulk of my $ to my brokerage account and will look to close Tioga Bank account and move the remaining $ elsewhere.
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 Tioga State Bank had $849,000 in non-current loans and owned real-estate with $47.3 million in equity and loan loss allowances on hand to cover it. This gives Tioga State Bank a Texas Ratio of 1.79% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Tioga State Bank held steady from 0.46% as of September 30, 2012 to 1.79% as of September 30, 2013, resulting in a negative change of 290.49%. This indicates that the balance sheet and financial strength for Tioga State Bank has held steady in recent periods.
In the past year, Tioga State Bank has decreased its total deposits by -$13.07 million, resulting in -4.15% 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 Tioga State Bank has shown is below average.
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. Tioga State Bank has $396.68 million in assets with $47.3 million in equity, resulting in a capitalization level of 11.92%, which is excellent.
|FDIC Certificate #||9410|
|Assets and Liabilities|
|Equity Capital||$43.24 million|
|Loan Loss Allowance||$4.06 million|
|Unbacked Noncurrent Loans||$772,000|
|Real Estate Owned||$77,000|
|Historic Data - September 2012|
|Equity Capital||$41.92 million|
|Loan Loss Allowance||$3.77 million|
|Unbacked Noncurrent Loans||$772,000|
|Real Estate Owned||$298,000|
|Profit Margin - Quarterly|
|Net Interest Margin||3.84%|
|Return on Assets||0.95%|
|Return on Equity||8.8%|
|Interest Income||$12.52 million|
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|0.25%||$250k||-||High Yield Money Market Investment|
|1.31%||$5k||-||Ladder CD 60 Month|
|1.00%||$5k||-||Ladder CD 48 to 59 Month|
|0.80%||$5k||-||Ladder CD 36 to 47 Month|
|0.60%||$5k||-||Ladder CD 24 to 35 Month|
|0.40%||$5k||-||Ladder CD 12 to 23 Month|
|0.20%||$1k||-||12 Month CD|
|1.31%||$5k||-||Ladder IRA 60 Month|
|1.31%||$5k||-||Ladder SEP IRA 60 Month|
|1.00%||$5k||-||Ladder IRA 48 to 59 Month|
|1.00%||$5k||-||Ladder SEP IRA 48 to 59 Month|
|0.80%||$5k||-||Ladder IRA 36 to 47 Month|
|0.80%||$5k||-||Ladder SEP IRA 36 to 47 Month|
|0.60%||$5k||-||Ladder IRA 24 to 35 Month|
|0.60%||$5k||-||Ladder SEP IRA 24 to 35 Month|
|0.40%||$5k||-||Ladder IRA 12 to 23 Month|
|0.40%||$5k||-||Ladder SEP IRA 12 to 23 Month|
|0.20%||$1k||-||12 Month IRA|
|0.20%||$1k||-||12 Month SEP IRA|