Traditional Bank, Inc. is headquartered in Mount Sterling and is the 6th largest bank in the state of Kentucky. It is also the 498th largest bank in the nation. It was established in 1902 and as of June of 2022, it had grown to 255 employees at 17 locations. Traditional Bank, Inc. has a B+ health rating.
Traditional Bank have some pretty sharp practices. I found this out to my cost this.week a check was presented at around 10 pm that evening. Pushing my account into the red. I transferred finds to cover it at 23.30.when I saw this but the bank credited my deposit after Midnight and imposed an OD charge for the 2 hours my account was in the Red I complained and was told as they cleared the charge after midnight they counted it as a two day overdraft. And would take no action. Not saying their action was illegal but defiantly anti customer
I can't believe that a local bank like Traditional Bank would take pride in taking advantage of the poor of Kentucky. I should have known better when a company/bank has no place online for reviews. We have been customers for 8+ years. Due to Covid our business has been severely scaled back. We had a auto draft with KU that got but through early causing our account to go negative and a 32 dollar overdraft fee (for which I was fine with and understand). What is sad is the poor tax they use! Yes, I'm talking about the $15 dollars a day they charg for having a negative balance ! This practice does nothing but keep poor folks poor. $15 dollars a day is more than a lot of their customers make an hour. So if a person gets paid biweekly they are looking at over a $100 dollars in fees before they get paid again for something that cost the bank nothing. We were told by the bank employee there was nothing that could be done about the fees/charges and she is sorry we feel this way. We have never had an overdraft in 8 years and must be a pretty good customer since they paid the auto draft which made the account go negative. If anyone from the bank reads this... this is why people are giving up traditional banks and moving to online banks like Chime and Bluevine (for business accounts). They and I are tired of all the bouges fees.
|FDIC Certificate #||2711|
|Return on Assets - YTD||1.59%|
|Return on Equity - YTD||21.17%|
|Annual Interest Income||$34.4MM|
|Assets and Liabilities|
|Assets||Q2 2022vs Q2 2021||$2.20B$2.15B|
|Loans||Q2 2022vs Q2 2021||$1.16B$1.18B|
|Deposits||Q2 2022vs Q2 2021||$1.98B$1.85B|
|Equity Capital||Q2 2022vs Q2 2021||$127.5MM$203.7MM|
|Loan Loss Allowance||Q2 2022vs Q2 2021||$15.7MM$16.7MM|
|Unbacked Noncurrent Loans||Q2 2022vs Q2 2021||$1.3MM$19.8MM|
|Real Estate Owned||Q2 2022vs Q2 2021||$11.5MM$4.5MM|
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