Andover Bank

Overview / Commentary

www.andoverbankohio.com

440-293-7605

19 Public Square
Andover, OH 44003

Andover Bank is headquartered in Andover and is the 52^nd largest bank in the state of Ohio. It is also the 1,760^th largest bank in the nation. It was established in 1884 and as of March of 2019, it had grown to 87 employees at 10 locations. Andover Bank's money market rates are 4X the national average, and it has an A health rating.

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Health

Data as of Q1 2019

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Health Grade Components

Overall
FDIC Certificate #	10663
Year Established	1884
Employees	87
Primary Regulator	FED

Profit Margin
Return on Assets - YTD	0.73%
Return on Equity - YTD	7.39%
Annual Interest Income	$3.4MM

Assets and Liabilities
Assets	Q1 2019vs Q1 2018	$402.5MM$411.8MM
Loans	Q1 2019vs Q1 2018	$205.3MM$209.0MM
Deposits	Q1 2019vs Q1 2018	$354.6MM$343.2MM
Equity Capital	Q1 2019vs Q1 2018	$40.7MM$38.7MM
Loan Loss Allowance	Q1 2019vs Q1 2018	$1.3MM$1.4MM
Unbacked Noncurrent Loans	Q1 2019vs Q1 2018	$893.00K$731.00K
Real Estate Owned	Q1 2019vs Q1 2018	$0$116.00K

Rates

Skip to rates for:

Savings
Money Market
Checking
CD
IRA

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Always verify rates and promotions with the bank or credit union. We are not Andover Bank; we are a rate comparison website and cannot provide official rates or promotions.

* 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
1.05%^*^†	$2.5k^*	$10k	Companion Savings - Qualifying
OTHER TIERS: 0.05% → Any amount
0.20%^*^†	$10k^*	-	Variable Rate IRA Account
OTHER TIERS: 0.05% → Up to $1k \| 0.10% → $1k - $5k \| 0.15% → $5k - $10k
0.20%^*^†	$10k^*	-	Health Savings Account
OTHER TIERS: 0.05% → Up to $1k \| 0.10% → $1k - $5k \| 0.15% → $5k - $10k
0.05%^†	-	-	Christmas Club
0.05%^†	-	-	Statement Savings
0.05%^†	-	-	Business Statement Savings

Andover Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
1.85%^*^†	$10k^*	-	Smart Saver - First 90 Days
OTHER TIERS: 0.05% → Up to $10k
1.75%^*^†	$50k^*	$500k	Business Preferred Money Market Account
OTHER TIERS: 0.90% → Up to $50k \| 1.00% → $1m+ \| 1.35% → $500k - $1m
1.50%^*^†	$100k^*	-	Smart Saver
OTHER TIERS: 0.05% → Up to $10k \| 1.00% → $10k - $50k \| 1.25% → $50k - $100k
0.25%^*^†	$100k^*	-	Preferred Money Market Account
OTHER TIERS: 0.05% → Up to $10k \| 0.10% → $10k - $25k \| 0.15% → $25k - $50k \| 0.20% → $50k - $100k

Andover Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
2.00%^*^†	-	$10k	Affinity Checking
OTHER TIERS: 0.05% → $10k+
0.05%^†	-	-	Rewards Checking
0.03%^†	$10k	-	Commercial Interest Checking
0.03%^†	-	-	Interest Checking

Andover Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
2.10%^*^†	$1k^*	$10k	10 Month CD - New Money
OTHER TIERS: 1.90% → $10k - $250k
2.05%^*^†	$1k^*	$10k	18 Month CD - New Money
OTHER TIERS: 1.85% → $10k - $250k
2.00%^*^†	$1k^*	$10k	23 Month CD - New Money
OTHER TIERS: 1.80% → $10k - $250k
1.25%^*^†	$1k^*	$10k	35 Month CD - New Money
OTHER TIERS: 1.05% → $10k - $250k
1.00%^†	$1k	-	54 Month CD
1.00%^†	$1k	-	60 Month CD
0.60%^†	$1k	-	48 Month CD
0.40%^†	$1k	-	36 Month CD
0.35%^†	$1k	-	30 Month CD
0.30%^†	$1k	-	24 Month CD
0.20%^†	$1k	-	12 Month CD
0.20%^†	$1k	-	14 Month CD
0.15%^†	$1k	-	182 Day CD
0.10%^†	$1k	-	30 Day CD
0.10%^†	$1k	-	91 Day CD

Andover Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
2.10%^*^†	$1k^*	$10k	10 Month IRA - New Money
OTHER TIERS: 1.90% → $10k - $250k
2.05%^*^†	$1k^*	$10k	18 Month IRA - New Money
OTHER TIERS: 1.85% → $10k - $250k
2.00%^*^†	$1k^*	$10k	23 Month IRA - New Money
OTHER TIERS: 1.80% → $10k - $250k
1.25%^*^†	$1k^*	$10k	35 Month IRA - New Money
OTHER TIERS: 1.05% → $10k - $250k
1.00%^†	$1k	-	60 Month Fixed Rate IRA
0.35%^†	$1k	-	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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