The Sherwood State Bank

Overview / Commentary
105 North Harrison Street
Sherwood, OH 43556

The Sherwood State Bank is headquartered in Sherwood and is the 145th largest bank in the state of Ohio. It is also the 4,231st largest bank in the nation. It was established in 1945 and as of September of 2021, it had grown to 23 employees at 4 locations. The Sherwood State Bank has a B+ health rating.


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Additional Factors: Institutions with a small asset base, a short operating history, or negative return on equity can represent an instability risk beyond what their financial ratios indicate. The Sherwood State Bank has a relatively low asset base.

Health Grade Components

FDIC Certificate #16222
Year Established1945
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.09%
Return on Equity - YTD10.16%
Annual Interest Income$2.8MM
Assets and Liabilities
AssetsQ3 2021vs Q3 2020$84.1MM$79.7MM
LoansQ3 2021vs Q3 2020$51.4MM$54.7MM
DepositsQ3 2021vs Q3 2020$71.2MM$66.6MM
Equity CapitalQ3 2021vs Q3 2020$9.2MM$8.6MM
Loan Loss AllowanceQ3 2021vs Q3 2020$598.00K$559.00K
Unbacked Noncurrent LoansQ3 2021vs Q3 2020$916.00K$972.00K
Real Estate OwnedQ3 2021vs Q3 2020$19.00K$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

The Sherwood State Bank Savings Account Rates

0.02%--Statement Savings
0.02%--Health Savings Account
0.02%$1-Christmas Club
0.02%--Club Account
0.02%-$1kIRA Statement Savings
0.02%-$1kSelf-Directed IRA Savings
0.02%--Youth Statement Savings

The Sherwood State Bank Money Market Rates

0.12%*$50k*-Community Advantage Money Market Savings
OTHER TIERS: 0.04% Up to $5k | 0.05% $5k - $25k | 0.07% $25k - $50k
0.07%*$50k*-Money Market Savings
OTHER TIERS: 0.02% Up to $2.5k | 0.04% $2.5k - $25k | 0.05% $25k - $50k

The Sherwood State Bank Checking Account Rates

0.03%*$2.5k*-Super Now Checking
OTHER TIERS: 0.02% Up to $2.5k
0.02%--Now Checking

The Sherwood State Bank CD Rates

0.40%$1k-48 Month CD
0.25%$1k-30 Month CD
0.20%$1k-24 Month bump CD
0.12%$1k-18 Month CD
0.10%$1k-12 Month CD
0.05%$1k-182 Day CD

The Sherwood State Bank IRA Rates

0.50%--48 Month IRA
0.25%--30 Month IRA
0.15%--12 Month IRA

The Sherwood State Bank Locations
The Sherwood State Bank105 North Harrison StreetSherwood, OH 43556
Ridgeville Corners Branch20478 US Highway 6Ridgeville Corners, OH 43555
Defiance Branch400 Third StreetDefiance, OH 43512
Fayette Branch121 W Main StFayette, OH 43521

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