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Overview / Commentary
369 Front Street
Spring City, TN 37381

SimplyBank is headquartered in Spring City and is the 54th largest bank in the state of Tennessee. It is also the 1,963rd largest bank in the nation. It was established in 1890 and as of March of 2019, it had grown to 77 employees at 6 locations. SimplyBank's CD rates are 11% higher than the national average, and it has a B+ health rating.

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EXPIRED - 21-Month Quarterly CD, 3.13% APY - 10/7/2018

Update 7/16/19: This rate is no longer available for the 21-month term. New 21-month Quarterly CD with a 3.13% APY. $500 minimum deposit. Branches in Polk, Rhea, and Roane Counties.

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Health Grade Components

FDIC Certificate #10693
Year Established1890
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.21%
Return on Equity - YTD12.45%
Annual Interest Income$4.4MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$346.9MM$328.1MM
LoansQ1 2019vs Q1 2018$279.7MM$258.7MM
DepositsQ1 2019vs Q1 2018$296.0MM$276.7MM
Equity CapitalQ1 2019vs Q1 2018$33.5MM$32.2MM
Loan Loss AllowanceQ1 2019vs Q1 2018$3.4MM$2.9MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$2.9MM$3.0MM
Real Estate OwnedQ1 2019vs Q1 2018$2.6MM$2.5MM
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SimplyBank CD Rates

3.04%$1k-31 Month Quarterly COD
2.01%$500-60 Month Quarterly COD
1.86%$500-48 Month Quarterly COD
1.76%$500-36 Month Quarterly COD
1.51%$500-30 Month Quarterly COD
1.41%$500-24 Month Quarterly COD
1.26%$500-18 Month Quarterly COD
1.00%$500-12 Month Quarterly COD
0.75%$500-182 Day COD
0.50%$500-91 Day COD

SimplyBank IRA Rates

2.01%$10-60 Month Fixed Rate IRA
1.86%$10-48 Month Fixed Rate IRA
1.76%$10-36 Month Fixed Rate IRA
1.51%$10-30 Month Fixed Rate IRA
1.41%$10-24 Month Fixed Rate IRA
1.26%$10-18 Month Fixed Rate IRA
1.00%$10-12 Month Fixed Rate IRA

SimplyBank Locations
Harriman Branch1031 South Roane StreetHarriman, TN 37748
South Dayton Branch3001 Rhea County HwyDayton, TN 37321
First Bank Of Tennessee369 Front StreetSpring City, TN 37381
Dayton Branch420 3rd AveDayton, TN 37321
Benton Branch6195 U.S. Highway 411Benton, TN 37307
Rockwood Branch996 North Gateway AvenueRockwood, TN 37854

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