4 star ratingAverage User Rating:
4 star rating based on 4 reviews.

Worthington Federal Bank

Worthington Federal Bank Locations
3301 Memorial Parkway, Sw
Huntsville, AL 35801
800-239-8562
www.worthingtonfederalbank.com



Worthington Federal Bank is headquartered in Huntsville and is the 64th largest bank in the state of Alabama. It is also the 3,360th largest bank in the nation. It was established in 1920 and as of September of 2011, it had grown to 68 employees at 1 location. Worthington Federal Bank's savings rates are 2X the national average, and it has a 3-star health rating.

Worthington Federal Bank Routing Number: 062292788

Related Posts

2.30% 21-Month CD at Worthington Federal Bank in Alabama - Local Only - 1/10/2010

Worthington Federal Bank is offering a fairly competitive CD special. It's a 2.30% APY 21-month CD. Minimum deposit is $1,000. The bank also has some competitive standard CDs including a 2.05% APY 18-month CD and a 1.85% APY 12-month CD. These rates are...

2.50% 18-Month CD at Worthington Federal Bank in Alabama - Local Only - 7/14/2009

Worthington Federal Bank is offering a few competitive CD rates at its Huntsville branch. The most competitive include a 2.30% APY 12-month CD, a 2.50% APY 18-month CD and a 2.55% APY 24-month CD. Minimum deposit is $1,000. Same rates also apply to IRA...

1.75% Reward Checking Account Without a Balance Cap at Worthington Federal Bank in AL & NC - Local Only - 7/14/2009

Update 1/10/10: The top rate has fallen to 1.75% APY.Worthington Federal Bank is offering a reward checking account called High Interest Plus (HIP) Account. The account pays 1.75% APY on all balances if the following monthly requirements are met:10 debit...



See Rates for: Checking | Savings | Money Market | CD | IRA

Worthington Federal Bank Checking Account Rates

ApyMinMaxProduct
3.01%-$15kKasasa Cash

Worthington Federal Bank Savings Account Rates

ApyMinMaxProduct
1.25%--Kasasa Saver
0.20%$1k-Savings Account

Worthington Federal Bank Money Market Rates

ApyMinMaxProduct
0.65%$250k-Money Market Account

Worthington Federal Bank CD Rates

ApyMinMaxProduct
1.45%$1k-60 Month CD
1.30%$1k-48 Month CD
1.25%$1k-36 Month CD
0.40%$1k-30 Month CD
0.35%$1k-24 Month CD
0.25%$1k-18 Month CD
0.20%$1k-12 Month CD
0.15%$1k-6 Month CD
0.10%$1k-3 Month CD

Worthington Federal Bank IRA Rates

ApyMinMaxProduct
1.45%$1k-60 Month IRA
1.45%$1k-60 Month Roth IRA
1.45%$1k-60 Month CESA
1.30%$1k-48 Month IRA
1.30%$1k-48 Month Roth IRA
1.30%$1k-48 Month CESA
1.25%$1k-36 Month IRA
1.25%$1k-36 Month Roth IRA
1.25%$1k-36 Month CESA
0.40%$1k-30 Month IRA
0.40%$1k-30 Month Roth IRA
0.40%$1k-30 Month CESA
0.35%$1k-24 Month IRA
0.35%$1k-24 Month Roth IRA
0.35%$1k-24 Month CESA
0.25%$1k-18 Month IRA
0.25%$1k-18 Month Roth IRA
0.25%$1k-18 Month CESA
0.20%$1k-12 Month IRA
0.20%$1k-12 Month Roth IRA
0.20%$1k-12 Month CESA
0.15%$1k-6 Month IRA
0.15%$1k-6 Month Roth IRA
0.15%$1k-6 Month CESA
0.10%$1k-3 Month IRA
0.10%$1k-3 Month Roth IRA
0.10%$1k-3 Month CESA

Rates updated: 2/11/2012

Data for Q3 2011


Institution Statistics


Worthington Federal Bank
OTS #08569
FDIC Certificate #32649
BankRate ReportView
Year Established1920
Employees68
Primary RegulatorOCC

Assets and Liabilities

Assets$180.66 million
Loans$140.50 million
Deposits$146.84 million
Equity Capital$17.73 million
Loan Loss Allowance$1.45 million
Unbacked Noncurrent Loans$6.42 million
Real Estate Owned$3.13 million

Historic Data - September 2010

Assets$168.96 million
Equity Capital$17.16 million
Loan Loss Allowance$1.45 million
Unbacked Noncurrent Loans$1.67 million
Real Estate Owned$728,000

Profit Margin - Quarterly

Net Interest Margin3.81%
Return on Assets-0.23%
Return on Equity-2.37%
Interest Income$6.53 million

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio2
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, 2011 Worthington Federal Bank had $9.54 million in non-current loans and owned real-estate with $19.18 million in equity and loan loss allowances on hand to cover it. This gives Worthington Federal Bank a Texas Ratio of 49.76% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend2
The Texas Ratio for Worthington Federal Bank increased slightly from 12.89% as of September 30, 2010 to 49.76% as of September 30, 2011, resulting in a negative change of 285.98%. This indicates that the balance sheet and financial strength for Worthington Federal Bank has declined slightly in recent periods.
Deposit Growth5
In the past year, Worthington Federal Bank has increased its total deposits by $10.91 million, resulting in 8.02% 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 Worthington Federal Bank has shown is excellent.
Capitalization4
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. Worthington Federal Bank has $180.66 million in assets with $19.18 million in equity, resulting in a capitalization level of 10.62%, which is above average.
Write Review

Like This Bank!
5 stars - hunter - Wednesday, January 26, 2011 - 7:42 AM

Great community bank with a regional presence...I love the high interest checking account and ease of use. Worthington has all the advantages of the BIG mega banks with a hometown culture. Employees remember my name and are very friendly....ATM fees refunded from other banks automatically. Like it.

6

If I Could Give 0 Stars I Would.
1 stars - integrity09 - Tuesday, July 26, 2011 - 8:19 PM

Worthington Federal is the absolute worse bank I have ever had the displeasure of being with. They have ignorant tellers that speak about things without truly knowing the answers, and it is run by obviously incompetent management that doesn't communicate with anyone but each other. I, my family, and the business we own fully plan on transferring immediately. I would rather trust my money with a gambler than this institution. They might care a little more about their clientele.

5

Best Online Banking I've Seen
5 stars - TomWorthington - Saturday, November 5, 2011 - 6:37 AM

Worthington Federal Bank has the easiest online banking to use Ive seen yet....and they pay 3% on my checking account? At first I thought it was too good to be true, but these guys are for real and EASY to deal with. I have referred many of my friends. I have no idea who the other blogger is who said their lobby staff was unprofessional and uninformed? I found just the OPPOSITE to be the fact....everyone is very accommodating and knowledgeable....it was probably some deadbeat that owed WFB money....keep up the great work Worthington....I am not surpirsed you guys are now in the top 10 in deposits....and we LUV our Kasasa account.

3

Thank You Worthington
5 stars - bglenn - Tuesday, April 26, 2011 - 7:22 AM

We heard your radio ads on 'Rick and Bubba' Radio Show and thought it would be a good place for our daughter to come for her 1st home purchase.  I have been with the same bank for 45 years...we have several accounts with the local credit union...but after our experience with your bank and seeing your account package...everything free plus high interest on checking and savings...we switched!

Some people might be put off because of limited locations...but your customer care provided everything we needed to conduct our transactions smoothly and quickly.  It is worth it!  I love being able to call and talk to someone that I actually met in your bank.  And I was impressed when Mr. Worthington came out in the lobby and took time to speak to me as he went to a meeting.

In the days of less service...I can count on more at Worthington.

Again...thanks

The Glenns

3