Bank of Ripley is headquartered in Ripley and is the 83rd largest bank in the state of Tennessee. It is also the 2,866th largest bank in the nation. It was established in 1939 and as of March of 2016, it had grown to 70 employees at 4 locations. Bank of Ripley has an A health rating.
Ignore what you've read below I've been an online member of this bank for several years now from Texas. Granted when I signed up with them they had a 5.25% interest rate which yes of course has dropped to 2.51%apy over time and I would expect that with the economy the way it is and has been going.
As for customer service the ladies have always been polite and helpful and telling me how to submit forms over the internet in email and I've been able to get new debit cards quite quickly with their service. They even went the extra mile to inform me I was sending my transfers to the wrong address.
I will continue to bank with them unless someone comes up with a much higher interest rate on their high yield checking accounts that won't drop overnight. I've tried a few others and yes there is the gimmick to get you to join with the high interest rates that you'll get for basically one month before the real interest rates kick in which is around 2% to 2.72% apy. With little to no risk these are great interest rates you can't get anywhere in a SAVINGS account. Yes you have to make 10-15 purchases per month with your card but who doesn't do that anyways? Buying groceries and gas and dining out easily take up those few purchases per month to net you those great interest rates.
This bank has the worst customer service. They will talk to you in a friendly voice but are not helpful at all. Two weeks after I opened my account and changed over all my online bill pay and direct deposit accounts, they lowered my interest rate- which was my reason for choosing them in the first place. Then they hit you with all sorts of fees. I tried to give the little guy a chance but after this treatment I am returning to First Tennessee where I have always been treated well.
|FDIC Certificate #||15673|
|Return on Assets - YTD||0.56%|
|Return on Equity - YTD||3.71%|
|Annual Interest Income||$1.9MM|
|Assets and Liabilities|
|Assets||Q1 2016vs Q1 2015||$212.8MM$206.9MM|
|Loans||Q1 2016vs Q1 2015||$75.6MM$75.0MM|
|Deposits||Q1 2016vs Q1 2015||$179.0MM$173.8MM|
|Equity Capital||Q1 2016vs Q1 2015||$31.6MM$31.1MM|
|Loan Loss Allowance||Q1 2016vs Q1 2015||$1.1MM$1.9MM|
|Unbacked Noncurrent Loans||Q1 2016vs Q1 2015||$3.1MM$2.3MM|
|Real Estate Owned||Q1 2016vs Q1 2015||$336.00K$420.00K|
Sorry, we do not have rate data for Bank of Ripley.
|Bank of Ripley Locations|
|Bank Of Ripley||134 North Jefferson Street||Ripley, TN 38063|
|Highway 51 Branch||1775 Highway 51 South||Covington, TN 38019|
|Bank Of Ripley||Hwy 51 Location 514 Hwy 51 North||Ripley, TN 38063|
|Washington Street Facility||311 South Washington Street||Ripley, TN 38063|