North American Savings Bank
North American Savings Bank is headquartered in Grandview and is the 10th largest bank in the state of Missouri. It is also the 415th largest bank in the nation. It was established in 1923 and as of June of 2018, it had grown to 456 employees at 11 locations. North American Savings Bank has a B+ health rating.
Related Posts
3/4 - NASB North American Savings Bank Reward Rate Drops To 0.60 (Was 2.05%)
1/7 - North American Savings Bank Has Competitive Rewards Checking - National
5/13/11 - North American Savings Bank E-Checking
8/20/10 - Top 14-Month & 23-Month CD Specials at NASB - Available Nationwide
5/8/10 - North American Savings Bank Enters into Supervisory Agreement with OTS
5/4/10 - New 14-Month CD Special at North American Savings Bank - Available Nationwide
5/3/10 - GREAT RATE GREAT TERM TERRIBLE TO DEAL WITH TERRIBLE ONLINE APPLICATION ALSO THAY HAVE NO CONTROL
4/19/10 - Hot CD Rates Available Nationwide at North American Savings Bank
4/18/10 - Hot CD Specials at North American Savings Bank in Missouri
Wonderful Banking Institution
I have had my bank account with NASB for 34 years and my parents has their account with them since 1959. I have never had any problems and they have always been friendly and helpful. I never had any reason to ever change banks which makes it easy to remain loyal to this banking institution.
Great online bank
I was hesitant about opening an online back since being able to see someone in person is so much more personable, however, my experience with NASB has been great. Their rates are competitive and their messaging center is superb. Every time I have emailed with a question, I would receive a response within a few hours. My only issue is that transferring money between accounts does take longer than expected. With my wells fargo account, a money transfer would be seen within a day or two. But with NASB, a money transfer between account took 5 days.
NASB Terms Details
Was looking into NASB, but found some limits in the details:
$7.50 monthly fee if no activity for 6 months
$1,500,000 Deposit limit then rate drops to 0.1%
Difficult To Put More Than 100K Into Account
Be aware that you can only deposit 100K when you sign up, and can only transfer 20K a day to your account by ACH. To transfer more, you have to wire.
Do Not Use NASB For Your Mortgage!!!
From the beginning it appeared that going with NASB for my mortgage would be a smooth process. This was far from the truth when it got down to crunch time. I DO NOT recommending contacting NASB for anything at all regarding a mortgage.
NASB had 30 days to secure a loan and 38 days to close on my condo. The day before I was suppose to have a loan commitment I received an email from my loan officer at 3:42PM stating they would be late. They had to do an extra “field review”. Mind you my agent said they had never had this problem with the previous 28 units sold in the condo development. Wells Fargo, NASB’s underwriter, demanded this field review to sign off on the loan. The review itself was a bit ridiculous itself considering the developments past, but to realize the review needed to happen less than 24 hours before a loan commitment was due? That’s inexcusable. NASB was 10 days late securing a loan commitment while up until 2 days before it was due all I heard was “Don’t worry we will get it done on time”. This caused me to close 8 business days later than I was expecting to. Also they charged me an extra $325 for an extra appraisal (which was basically just a second appraiser double checking what the first one did) and would not waive that fee even thought NASB was late every single step of the way.
In summary, in a time critical process NASB and their underwriter’s weren’t able to meet any sort of a deadline at all. What good is a decent rating on the BBB website if you can’t meet any deadlines as a mortgage provider?? That’s like being an eight foot ball basketball player and not being able to catch, dribble, or shoot the basketball. PLEASE use somebody else to secure a loan for your new house or condo to avoid what I had to go through. NASB failed to meet any expectations I had for them. I know every company has little slip ups. This was a major one. Stay away from NASB for your mortgage if you want to close on your home on time. Everything NASB was extremely last minute. Reply to this review and I can email you actual emails from NASB with dates and time stamps on them.
Data as of Q2 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 29708 |
| Year Established | 1923 |
| Employees | 456 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.42% |
| Return on Equity - YTD | 11.97% |
| Annual Interest Income | $48.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2018vs Q2 2017 | $1.98B$2.06B |
| Loans | Q2 2018vs Q2 2017 | $1.77B$1.70B |
| Deposits | Q2 2018vs Q2 2017 | $1.50B$1.34B |
| Equity Capital | Q2 2018vs Q2 2017 | $230.5MM$230.3MM |
| Loan Loss Allowance | Q2 2018vs Q2 2017 | $19.3MM$17.8MM |
| Unbacked Noncurrent Loans | Q2 2018vs Q2 2017 | $14.5MM$7.9MM |
| Real Estate Owned | Q2 2018vs Q2 2017 | $5.2MM$4.5MM |
Rates for North American Savings Bank are currently being reviewed.
