Heritage Bank of St. Tammany
Heritage Bank of St. Tammany is headquartered in COVINGTON and is the 82nd largest bank in the state of Louisiana. It is also the 3,160th largest bank in the nation. It was established in 1924 and as of March of 2025, it had grown to 23 employees at 4 locations. Heritage Bank of St. Tammany has an A health rating.
Beware CD Shenanigans
I opened 3 CDs in August 2023. They were 8 months at 5.125%. I understood they would automatically roll over to as they say online "renew at maturity for a like term at the rate in effect on a certificate of that class". At the time of renewal they had an 8 month CD at 5.25% but instead switched my CDs to 6 months at 4.85%.
When I went to the branch on 5/1/24 the arrogant manager asked if I had my copy of the letter, I explained I'm not disputing that the notice was sent. I questioned how 6 months is more of a "like term" to an 8 month CD than an 8 MONTH CD?
Sure, I should've made sure to go into the bank and change it personally rather than trusting them to follow their own rules but I suggest they change their site to reflect the truth which is this: "...renew at maturity for a term and rate in effect on a certificate of that class that benefits the bank the most". Truth in advertising. For me? I'm pulling it all out the minute these 6 months CDs mature. This "small" bank is no different in its business practices than large banks.
Data as of Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 29577 |
| Year Established | 1924 |
| Employees | 23 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.63% |
| Return on Equity - YTD | 6.09% |
| Annual Interest Income | $2.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $183.5MM$171MM |
| Loans | Q1 2025vs Q1 2024 | $145.2MM$136.7MM |
| Deposits | Q1 2025vs Q1 2024 | $153.5MM$137MM |
| Equity Capital | Q1 2025vs Q1 2024 | $19.1MM$19.9MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $1.3MM$1.3MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $688K$780K |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |