Reliance Bank is headquartered in Altoona and is the 64th largest bank in the state of Pennsylvania. It is also the 1,364th largest bank in the nation. It was established in 1939 and as of June of 2020, it had grown to 95 employees at 9 locations. Reliance Bank's money market rates are 82% higher than the national average, and it boasts an A+ health rating.
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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 Q2 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 30117 |
| Year Established | 1939 |
| Employees | 95 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.8% |
| Return on Equity - YTD | 7.44% |
| Annual Interest Income | $10.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $604.9MM$526.6MM |
| Loans | Q2 2020vs Q2 2019 | $409.6MM$380.1MM |
| Deposits | Q2 2020vs Q2 2019 | $447.4MM$376.4MM |
| Equity Capital | Q2 2020vs Q2 2019 | $62.8MM$57.7MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $5.3MM$3.8MM |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $1.4MM$829.00K |
| Real Estate Owned | Q2 2020vs Q2 2019 | $0$125.00K |