Worthington Federal Bank is headquartered in Huntsville and is the 75th largest bank in the state of Alabama. It is also the 3,888th largest bank in the nation. It was established in 1920 and as of March of 2014, it had grown to 35 employees at 1 location. Worthington Federal Bank has a C- health rating.
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.
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.
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.
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.
It's so refreshing to have a competitive, LOCAL bank that is focused on taking care of its customers. Your banker actually KNOWS you and wants to help you! Local decision-making here in Huntsville instead of waiting for an answer from the out-of-town corporate HQ!!
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 Worthington Federal Bank had $7.14 million in non-current loans and owned real-estate with $13.3 million in equity and loan loss allowances on hand to cover it. This gives Worthington Federal Bank a Texas Ratio of 53.68% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Worthington Federal Bank increased slightly from 41.30% as of March 31, 2013 to 53.68% as of March 31, 2014, resulting in a negative change of 29.98%. This indicates that the balance sheet and financial strength for Worthington Federal Bank has declined slightly in recent periods.
In the past year, Worthington Federal Bank has decreased its total deposits by -$11.03 million, resulting in -9.1% 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 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. Worthington Federal Bank has $140.02 million in assets with $13.3 million in equity, resulting in a capitalization level of 9.50%, which is average.
|FDIC Certificate #||32649|
|Assets and Liabilities|
|Equity Capital||$11.45 million|
|Loan Loss Allowance||$1.85 million|
|Unbacked Noncurrent Loans||$3.16 million|
|Real Estate Owned||$3.98 million|
|Historic Data - March 2013|
|Equity Capital||$17.65 million|
|Loan Loss Allowance||$2.24 million|
|Unbacked Noncurrent Loans||$3.16 million|
|Real Estate Owned||$3.05 million|
|Profit Margin - Quarterly|
|Net Interest Margin||4.09%|
|Return on Assets||0.22%|
|Return on Equity||2.7%|
|Interest Income||$1.61 million|
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|0.25%||-||-||Kasasa Saver - Qualifying|
|0.05%||-||-||Kasasa Saver - Non Qualifying|
|0.17%||$100k||-||Money Market Account|
|0.99%||-||$15k||Kasasa Cash - Qualifying|
|0.05%||-||-||Kasasa Cash - Non Qualifying|
|1.20%||$1k||-||60 Month CD|
|1.10%||$1k||-||18 Month CD|
|1.00%||$1k||-||36 Month CD|
|1.00%||$1k||-||48 Month CD|
|0.55%||$1k||-||12 Month CD|
|0.40%||$1k||-||30 Month CD|
|0.35%||$1k||-||24 Month CD|
|0.15%||$1k||-||6 Month CD|
|0.10%||$1k||-||3 Month CD|
|1.20%||$1k||-||60 Month IRA|
|1.10%||$1k||-||18 Month IRA|
|1.00%||$1k||-||36 Month IRA|
|1.00%||$1k||-||48 Month IRA|
|0.55%||$1k||-||12 Month IRA|
|0.40%||$1k||-||30 Month IRA|
|0.35%||$1k||-||24 Month IRA|
|0.15%||$1k||-||6 Month IRA|
|0.10%||$1k||-||3 Month IRA|
|Worthington Federal Bank Locations|
|Worthington Federal Bank||3301 Memorial Parkway, Sw||Huntsville, AL 35801|