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Overview / Commentary
800-990-4828
1051 E. Cary St., Suite 1200
Richmond, VA 23219

Union First Market Bank is headquartered in Richmond and is the 8th largest bank in the state of Virginia. It is also the 204th largest bank in the nation. It was established in 1997 and as of March of 2014, it had grown to 1,017 employees at 89 locations. Union First Market Bank's savings rates are 4X the national average, and it has a B+ health rating.

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Reviews (1)

ONLINE BANKING UNSATISFACTORY

THEIR SECURITY PROCEDURES ARE DRACONIAN AND RIDICULOUS. APPLICATION FOR ONLINE BANKING IS LENGTHY, COMPLEX AND INTRUSIVE. THE LATEST REQUIREMENT WAS TO REGISTER YOUR COMPUTER TO AVOID HAVING TO VERIFY IDENTITY BY TELEPHONE EACH TIME YOU SIGN ON EVEN AFTER YOU HAVE ENTERED PASSWORD. I STRONGLY DISLIKE HAVING TO REGISTER MY COMPUTER WITH ANYONE. I HAVE BEEN A CUSTOMER FOR OVER 12 YEARS, BUT THE SEARCH FOR A NEW BANK STARTS TOMORROW.



Health

Data for Q1 2014

Institution Health

B+

Texas Ratio

GRADE:
A

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 Union First Market Bank had $53.91 million in non-current loans and owned real-estate with $496.65 million in equity and loan loss allowances on hand to cover it. This gives Union First Market Bank a Texas Ratio of 10.86% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B

The Texas Ratio for Union First Market Bank decreased slightly from 12.75% as of March 31, 2013 to 10.86% as of March 31, 2014, resulting in a positive change of 14.83%.This indicates that the balance sheet and financial strength for Union First Market Bank has improved slightly in recent periods.

Deposit Growth

GRADE:
C

In the past year, Union First Market Bank has decreased its total deposits by -$62.34 million, resulting in -1.88% 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 Union First Market Bank has shown is 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. Union First Market Bank has $4.21 billion in assets with $496.65 million in equity, resulting in a capitalization level of 11.80%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #34589
Year Established1997
Employees1017
Primary RegulatorFED
Assets and Liabilities
Assets$4.21 billion
Loans$3.08 billion
Deposits$3.26 billion
Equity Capital$466.32 million
Loan Loss Allowance$30.33 million
Unbacked Noncurrent Loans$21.58 million
Real Estate Owned$32.34 million
Historic Data - March 2013
Assets$4.04 billion
Equity Capital$477.32 million
Loan Loss Allowance$34.42 million
Unbacked Noncurrent Loans$21.58 million
Real Estate Owned$35.88 million
Profit Margin - Quarterly
Net Interest Margin4.08%
Return on Assets0.4%
Return on Equity3.53%
Interest Income$42.35 million
Rates
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Union First Market Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
2.25%$10k-CollegeWealth Account
0.30%$25k-Health Savings Account

Union First Market Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.30%$500k-Money Market Account

Union First Market Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.00%$5k-52 Month CD Special
0.90%$1k$100k5 Year Preferred CD
0.70%$1k$100k4 Year Preferred CD
0.70%$5k-27 Month CD Special
0.65%$10k$100k5 Year CD
0.60%$1k$100k3 Year Preferred CD
0.45%$10k$100k4 Year CD
0.40%$5k-13 Month CD Special
0.40%$1k$100k2 Year Preferred CD
0.35%$10k$100k3 Year CD
0.30%$100k-1 Year Jumbo CD
0.25%$1k$100k1 Year Preferred CD
0.15%$10k$100k2 Year CD
0.15%$100k-180 Day Jumbo CD
0.10%$10k$100k6 Month CD
0.10%$10k$100k1 Year CD
0.10%$10k$100k18 Month CD
0.10%$100k-60 Day Jumbo CD
0.10%$100k-90 Day Jumbo CD
0.05%$10k$100k3 Month CD
0.05%$100k-30 Day Jumbo CD

Union First Market Bank IRA Rates

DetailsAPYMINMAXPRODUCT
0.90%$1k$100k5 Year Preferred IRA
0.70%$1k$100k4 Year Preferred IRA
0.65%$1k$100k5 Year IRA
0.60%$1k$100k3 Year Preferred IRA
0.45%$1k$100k4 Year IRA
0.40%$1k$100k2 Year Preferred IRA
0.35%$1k$100k3 Year IRA
0.25%$1k$100k1 Year Preferred IRA
0.15%$1k$100k2 Year IRA
0.10%$1k$100k6 Month IRA
0.10%$1k$100k1 Year IRA
0.10%$1k$100k18 Month IRA
0.05%$1k$100k3 Month IRA
Locations

Union First Market Bank has 89 locations. Click to view all Union First Market Bank locations.