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Overview / Commentary
800-836-7173
200 South Banker Street
Effingham , IL 62401

Washington Savings Bank is headquartered in Effingham and is the 159th largest bank in the state of Illinois. It is also the 2,427th largest bank in the nation. It was established in 1883 and as of June of 2014, it had grown to 42 employees at 2 locations. Washington Savings Bank's savings rates are 44% higher than the national average, and it has a A health rating.

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Health

Data for Q2 2014

Institution Health

A

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 June 30, 2014 Washington Savings Bank had $2.06 million in non-current loans and owned real-estate with $31.83 million in equity and loan loss allowances on hand to cover it. This gives Washington Savings Bank a Texas Ratio of 6.46% 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 Washington Savings Bank decreased slightly from 8.04% as of June 30, 2013 to 6.46% as of June 30, 2014, resulting in a positive change of 19.61%.This indicates that the balance sheet and financial strength for Washington Savings Bank has improved slightly in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Washington Savings Bank has increased its total deposits by $4.58 million, resulting in 2.03% 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 Washington Savings 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. Washington Savings Bank has $265.49 million in assets with $31.83 million in equity, resulting in a capitalization level of 11.99%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #29227
Year Established1883
Employees42
Primary RegulatorFDIC
Assets and Liabilities
Assets$265.49 million
Loans$168.48 million
Deposits$229.49 million
Equity Capital$30.30 million
Loan Loss Allowance$1.54 million
Unbacked Noncurrent Loans$2.03 million
Real Estate Owned$31,000
Historic Data - June 2013
Assets$258.74 million
Equity Capital$29.18 million
Loan Loss Allowance$1.51 million
Unbacked Noncurrent Loans$2.03 million
Real Estate Owned$175,000
Profit Margin - Quarterly
Return on Assets0.44%
Return on Equity3.9%
Interest Income$4.04 million
Rates
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Washington Savings Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.75%-$10kKasasa Saver - Qualifying
0.50%--Christmas Club Account
0.45%$100k-Tiered Statement Savings
0.40%$250k-Commercial Statement Savings
0.35%$10k-Health Savings Accounts
0.20%--Passbook Savings
0.20%--Kid's Club
0.03%--Kasasa Saver - Non Qualifying

Washington Savings Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
2.50%-$10kKasasa Cash - Qualifying
0.40%$250k-Super NOW Checking
0.03%--Kasasa Cash - Non Qualifying

Washington Savings Bank CD Rates

DetailsAPYMINMAXPRODUCT
2.00%$1k-84 Month CD
1.50%$1k-60 Month CD
1.30%$1k-48 Month CD
1.00%$1k-30 Month CD
1.00%$2,500-36 Month CD
0.75%$2,500-20 Month CD
0.75%$1k-24 Month CD
0.60%$2,500-15 Month CD
0.60%$1k-18 Month CD
0.50%$2,500-10 Month CD
0.50%$1k-12 Month CD
0.30%$2,500-182 Day CD
0.20%$2,500-91 Day CD

Washington Savings Bank IRA Rates

DetailsAPYMINMAXPRODUCT
2.00%$1k-84 Month IRA
2.00%$1k-84 Month Roth IRA
1.50%$1k-60 Month IRA
1.00%$2,500-36 Month Bump Roth IRA
1.00%$1k-30 Month IRA
1.00%$2,500-36 Month Bump IRA
0.75%$1k-24 Month Roth IRA
0.75%$1k-24 Month IRA
0.60%$2,500-15 Month Roth IRA
0.60%$2,500-15 Month IRA
0.60%$1k-18 Month IRA
0.50%$100-18 Month Variable Roth IRA
0.50%$1k-12 Month Roth IRA
0.50%$100-18 Month Variable IRA
0.50%$1k-12 Month IRA
Locations


Washington Savings Bank Locations
Keller Drive Branch1300 North Keller DriveEffingham, IL 62401
Washington Savings Bank200 South Banker StreetEffingham, IL 62401