Vision Bank (OK) is headquartered in Ada and is the 16th largest bank in the state of Oklahoma. It is also the 1,124th largest bank in the nation. It was established in 1924 and as of March of 2016, it had grown to 213 employees at 9 locations. Vision Bank (OK) has a B+ health rating.
On November 5, 2012, we received an email notice from Vision Bank. It is provided below. Not only do we now have to charge a total of $250 per month, (use to be just 10 POS transactions), but their interest rate has dropped to 1%. Vision bank management has been making small changes to the interest rate for years (started out at 4%), and as a result, total deposits have dropped significantly over the last year. This illustrates how such managerial decisions have just the opposite effect than what is desired. Unfortuneately, management is taking another step in the wrong direction. Their latest decision will result in even lower overall deposits and stagnate growth -- if not decline and downsizing in the future.
IMPORTANT NOTICE ON
CHANGES TO YOUR VIVA CHECKING ACCOUNT
EFFECTIVE December 1, 2012
Your VIVA checking account is one of the best accounts to be found anywhere and we plan to keep it that way, however, given the historical low interest rate environment, coupled with the large additional expenses we will incur to comply with the new Dodd-Frank Banking bill, we must make some changes to this account. The changes outlined below will be effective December 1, 2012.
Presently, in order to earn the premium interest rate on your account, you must make at least 10 Point of Sale (POS) transactions on the account by the end of each month. This is being changed to a total of $250 in POS transactions per month. You will no longer be required to make the 10 POS transactions per month as long as the total of all of your POS transactions completed each month total at least $250.
As long as you meet the POS requirements, we have been refunding fees incurred for 5 transactions when using non Vision Bank ATMs. Effective December 1, 2012, we are placing a cap on the ATM fees refunded at $15 per month.
Finally, the interest rate paid on this account will be lowered from 2% to 1% APY.
|FDIC Certificate #||4029|
|Return on Assets - YTD||0.76%|
|Return on Equity - YTD||7.58%|
|Annual Interest Income||$6.1MM|
|Assets and Liabilities|
|Assets||Q1 2016vs Q1 2015||$628.0MM$658.4MM|
|Loans||Q1 2016vs Q1 2015||$399.9MM$381.3MM|
|Deposits||Q1 2016vs Q1 2015||$481.6MM$486.8MM|
|Equity Capital||Q1 2016vs Q1 2015||$62.9MM$61.7MM|
|Loan Loss Allowance||Q1 2016vs Q1 2015||$5.7MM$5.3MM|
|Unbacked Noncurrent Loans||Q1 2016vs Q1 2015||$4.4MM$3.6MM|
|Real Estate Owned||Q1 2016vs Q1 2015||$56.00K$309.00K|
Always verify rates and promotions with the bank or credit union. We are not Vision Bank (OK); 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.
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|0.50%*||-||$25k||VIVA Free Checking|
|OTHER TIERS: 0.10% → $25k+|
|Vision Bank (OK) Locations|
|Vision Bank, National Association||101 East Main Street||Ada, OK 74820|
|Sulphur Branch||1100 West Broadway||Sulphur, OK 73086|
|Motor Bank Branch||1200 East 12th Street||Ada, OK 74820|
|Davis Branch||1200 East Main Street||Davis, OK 73030|
|Arlington Center Branch||1901 Arlington St||Ada, OK 74820|
|Durant Branch||2514 University Boulevard||Durant, OK 74701|
|Meeker Branch||409 South Dawson||Meeker, OK 74855|
|Shawnee Branch||4301 N. Harrison Street||Shawnee, OK 74804|
|Prague Branch||802 Jim Thorpe Blvd||Prague, OK 74864|