Vision Bank (OK) is headquartered in Ada and is the 13st largest bank in the state of Oklahoma. It is also the 1,053rd largest bank in the nation. It was established in 1924 and as of December of 2013, it had grown to 221 employees at 9 locations. Vision Bank (OK) has a B+ health rating.
On November 5, 2012, we received an email notice from Vision Bank. It is provided below. Not only do we now have to charge a total of $250 per month, (use to be just 10 POS transactions), but their interest rate has dropped to 1%. Vision bank management has been making small changes to the interest rate for years (started out at 4%), and as a result, total deposits have dropped significantly over the last year. This illustrates how such managerial decisions have just the opposite effect than what is desired. Unfortuneately, management is taking another step in the wrong direction. Their latest decision will result in even lower overall deposits and stagnate growth -- if not decline and downsizing in the future.
IMPORTANT NOTICE ON
CHANGES TO YOUR VIVA CHECKING ACCOUNT
EFFECTIVE December 1, 2012
Your VIVA checking account is one of the best accounts to be found anywhere and we plan to keep it that way, however, given the historical low interest rate environment, coupled with the large additional expenses we will incur to comply with the new Dodd-Frank Banking bill, we must make some changes to this account. The changes outlined below will be effective December 1, 2012.
Presently, in order to earn the premium interest rate on your account, you must make at least 10 Point of Sale (POS) transactions on the account by the end of each month. This is being changed to a total of $250 in POS transactions per month. You will no longer be required to make the 10 POS transactions per month as long as the total of all of your POS transactions completed each month total at least $250.
As long as you meet the POS requirements, we have been refunding fees incurred for 5 transactions when using non Vision Bank ATMs. Effective December 1, 2012, we are placing a cap on the ATM fees refunded at $15 per month.
Finally, the interest rate paid on this account will be lowered from 2% to 1% APY.
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 December 31, 2013 Vision Bank (OK) had $5.13 million in non-current loans and owned real-estate with $61.2 million in equity and loan loss allowances on hand to cover it. This gives Vision Bank (OK) a Texas Ratio of 8.39% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Vision Bank (OK) decreased slightly from 10.96% as of December 31, 2012 to 8.39% as of December 31, 2013, resulting in a positive change of 23.45%.This indicates that the balance sheet and financial strength for Vision Bank (OK) has improved slightly in recent periods.
In the past year, Vision Bank (OK) has decreased its total deposits by -$14.45 million, resulting in -2.97% 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 Vision Bank (OK) 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. Vision Bank (OK) has $639.9 million in assets with $61.2 million in equity, resulting in a capitalization level of 9.56%, which is above average.
|FDIC Certificate #||4029|
|Assets and Liabilities|
|Equity Capital||$57.27 million|
|Loan Loss Allowance||$3.93 million|
|Unbacked Noncurrent Loans||$4.20 million|
|Real Estate Owned||$930,000|
|Historic Data - December 2012|
|Equity Capital||$55.05 million|
|Loan Loss Allowance||$3.37 million|
|Unbacked Noncurrent Loans||$4.20 million|
|Real Estate Owned||$2.03 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.88%|
|Return on Assets||0.88%|
|Return on Equity||9.94%|
|Interest Income||$25.60 million|
Always verify rates and promotions with the bank or credit union. We are not Vision Bank (OK), we are a rate comparison website and can not provide official rates or promotions.
|1.00%||-||$25k||VIVA Free Checking|
|0.05%||-||-||VIVA Free Checking|
|Vision Bank (OK) Locations|
|Vision Bank, National Association||101 East Main Street||Ada, OK 74820|
|Sulphur Branch||1100 West Broadway||Sulphur, OK 73086|
|Motor Bank Branch||1200 East 12th Street||Ada, OK 74820|
|Davis Branch||1200 East Main Street||Davis, OK 73030|
|Arlington Center Branch||1901 Arlington St||Ada, OK 74820|
|Durant Branch||2514 University Boulevard||Durant, OK 74701|
|Meeker Branch||409 South Dawson||Meeker, OK 74855|
|Shawnee Branch||4301 N. Harrison Street||Shawnee, OK 74804|
|Prague Branch||802 Jim Thorpe Blvd||Prague, OK 74864|