Reliance Bank is headquartered in Altoona and is the 63rd largest bank in the state of Pennsylvania. It is also the 1,367th largest bank in the nation. It was established in 1939 and as of March of 2021, it had grown to 96 employees at 9 locations. Reliance Bank's money market rates are 25% higher than the national average, and it has an A health rating.
Related Posts
Reliance Bank is Excellent
At Reliance, you always feel welcome to just walk in and ask a real person a question. I feel like I know the people that work there and we often just end up chatting about 'stuff' besides my banking needs (the kids, work, this year's must-have xmas gift). While they may not have the "best" rates out there, they make up for it with the personal feel and that means a lot for me.
New Management
The State College branch of this bank has new management and it is no longer the friendly place that it used to be. It used to be a very friendly place, but that has changed.
3Parakeets
After being with them for ~15 years, they are now messing up. Just found out my homeowner's insurance was canceled since they "forgot" to pay it. This is UNACCEPTABLE. I will now be managing my escrow myself. What a crock.
Data as of Q1 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 30117 |
| Year Established | 1939 |
| Employees | 96 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.13% |
| Return on Equity - YTD | 11.06% |
| Annual Interest Income | $4.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2021vs Q1 2020 | $653.1MM$541.8MM |
| Loans | Q1 2021vs Q1 2020 | $387.6MM$379.0MM |
| Deposits | Q1 2021vs Q1 2020 | $502.4MM$392.4MM |
| Equity Capital | Q1 2021vs Q1 2020 | $65.9MM$60.9MM |
| Loan Loss Allowance | Q1 2021vs Q1 2020 | $5.9MM$4.6MM |
| Unbacked Noncurrent Loans | Q1 2021vs Q1 2020 | $842.00K$1.4MM |
| Real Estate Owned | Q1 2021vs Q1 2020 | $232.00K$0 |