Andover Bank

Overview / Commentary

www.andover.bank

440-293-7605

19 Public Square
Andover, OH 44003

Andover Bank is headquartered in Andover and is the 50^th largest bank in the state of Ohio. It is also the 1,551^st largest bank in the nation. It was established in 1884 and as of September of 2021, it had grown to 89 employees at 10 locations. Andover Bank has an A health rating.

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Health

Data as of Q3 2021

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Health Grade Components

Overall
FDIC Certificate #	10663
Year Established	1884
Employees	89
Primary Regulator	FED

Profit Margin
Return on Assets - YTD	1.04%
Return on Equity - YTD	12.29%
Annual Interest Income	$11.5MM

Assets and Liabilities
Assets	Q3 2021vs Q3 2020	$578.9MM$508.7MM
Loans	Q3 2021vs Q3 2020	$264.9MM$255.7MM
Deposits	Q3 2021vs Q3 2020	$517.8MM$437.8MM
Equity Capital	Q3 2021vs Q3 2020	$45.8MM$47.1MM
Loan Loss Allowance	Q3 2021vs Q3 2020	$1.4MM$1.3MM
Unbacked Noncurrent Loans	Q3 2021vs Q3 2020	$782.00K$641.00K
Real Estate Owned	Q3 2021vs Q3 2020	$0$0

Rates

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Savings
Money Market
Checking
CD
IRA

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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

Andover Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.50%^*^†	$2.5k^*	$10k	Companion Savings
OTHER TIERS: 0.02% → Up to $2.5k \| 0.03% → $10k+
0.10%^*^†	$10k^*	-	Variable Rate IRA Account
OTHER TIERS: 0.02% → Up to $1k \| 0.03% → $1k - $5k \| 0.05% → $5k - $10k
0.08%^*^†	$10k^*	-	Health Savings Account
OTHER TIERS: 0.01% → Up to $1k \| 0.02% → $1k - $5k \| 0.04% → $5k - $10k
0.02%^†	-	-	Christmas Club
0.02%^†	-	-	Statement Savings
0.02%^†	-	-	Business Statement Savings

Andover Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
0.30%^*^†	$10k^*	-	Smart Saver
OTHER TIERS: 0.02% → Up to $10k
0.18%^*^†	$50k^*	$500k	Business Preferred Money Market Account
OTHER TIERS: 0.02% → Any amount \| 0.08% → $500k - $1m
0.14%^*^†	$100k^*	-	Preferred Money Market Account
OTHER TIERS: 0.01% → Up to $10k \| 0.02% → $10k - $25k \| 0.04% → $25k - $50k \| 0.09% → $50k - $100k
0.14%^*^†	$100k^*	-	Smart Saver - First 90 Days
OTHER TIERS: 0.02% → Up to $10k \| 0.04% → $10k - $50k \| 0.09% → $50k - $100k

Andover Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
2.00%^*^†	-	$10k	Affinity Checking
OTHER TIERS: 0.05% → $10k+
0.01%^†	$10k	-	Commercial Interest Checking
0.01%^†	-	-	Rewards Checking
0.01%^†	-	-	Interest Checking

Andover Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
0.35%^†	$1k	$250k	60 Month CD
0.30%^†	$1k	$250k	54 Month CD
0.25%^†	$1k	$250k	35 Month CD
0.20%^†	$1k	$250k	48 Month CD
0.18%^†	$1k	$250k	23 Month CD
0.14%^†	$1k	$250k	36 Month CD
0.13%^†	$1k	$250k	11 Month CD
0.12%^†	$1k	$250k	14 Month CD
0.12%^†	$1k	$250k	30 Month CD
0.10%^†	$1k	$250k	24 Month CD
0.10%^†	$1k	$250k	10 Month CD
0.09%^†	$1k	$250k	18 Month CD
0.08%^†	$1k	$250k	12 Month CD
0.05%^†	$1k	$250k	30 Day CD
0.05%^†	$1k	$250k	91 Day CD
0.05%^†	$1k	$250k	182 Day CD

Andover Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.35%^†	$1k	$250k	60 Month Fixed Rate IRA
0.12%^†	$1k	$250k	30 Month Fixed Rate IRA

Locations

Cities: Albion, Andover, Ashtabula, Austinburg, Conneaut, Edinboro, Erie, Geneva, Jefferson, Madison

Albion Branches
Old Community National Bank Of North	53 East State Street	Albion, PA 16401

Andover Branches
The Andover Bank	19 Public Square	Andover, OH 44003

Ashtabula Branches
Ashtabula Harbor Banking Center	1630 West 19th Street	Ashtabula, OH 44004

Austinburg Branches
Austinburg Branch	State Route 45 and College Street	Austinburg, OH 44010

Conneaut Branches
Conneaut Banking Center	339 State St	Conneaut, OH 44030

Edinboro Branches
Edinboro Branch	212 Plum Street	Edinboro, PA 16412

Erie Branches
Millcreek Branch	2420 Zimmerly Road	Erie, PA 16506

Geneva Branches
Geneva Branch	665 South Broadway	Geneva, OH 44041

Jefferson Branches
Jefferson Banking Center Branch	150 North Chestnut Street	Jefferson, OH 44047

Madison Branches
Madison Banking Center Branch	6611 N Ridge Rd	Madison, OH 44057

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