Paul Sanchez
The Bank of Old Monroe is an FDIC-insured institution located in Old Monroe, Missouri. Established in 1906, the bank has served the Lincoln and St. Charles community for over a century. It is supervised by the Federal Deposit Insurance Corporation (FDIC) and has five branches. The bank is committed to maintaining customer trust and financial security, with deposits protected up to applicable limits.
| Characteristics | Values |
|---|---|
| Type of Bank | Commercial bank, state charter, Fed non-member |
| Regulatory Body | Federal Deposit Insurance Corporation (FDIC) |
| Regulatory Compliance | Insured up to $250,000 |
| Number of Branches | 5 |
| Number of Employees | 82 |
| Total Assets | $879,754k |
| Total Liabilities | $830,232k |
| Total Equity Capital | $49,522k |
| Loans | $495,039,000 |
| Deposits | $775,328,000 |
| Non-Current Loans | $14,000 |
| Loan Loss Reserves | $6,991,000 |
| Texas Ratio | 0.02% |
| Return on Equity | 38.77% |
| Capitalization | 6.23% |
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What You'll Learn
The Bank of Old Monroe is FDIC-insured
FDIC insurance is a guarantee that the US government will repay depositors in the unlikely event that an FDIC-insured bank or savings association fails. FDIC insurance covers checking and savings accounts, money market deposit accounts, and certificates of deposit (CDs). FDIC insurance is backed by the full faith and credit of the US government, which means that customers can trust that their deposits are safe and secure.
The Bank of Old Monroe is a well-established financial institution, having served its community for over 100 years. It is headquartered in Old Monroe, Missouri, and is the 44th largest bank in the state. As of 2024, the bank had approximately $0.85 billion in assets and 82 employees across 5 branches. The bank offers a range of financial products and services to its customers, including personal and business banking, loans, mortgages, and digital banking services.
As an FDIC-insured institution, the Bank of Old Monroe is committed to maintaining customer trust and financial security. The bank's deposits are protected by the FDIC, ensuring that its customers' funds are secure up to the applicable limits. This protection allows customers to feel confident in their choice of bank and provides an added layer of security when managing their finances.
The FDIC insurance at the Bank of Old Monroe also extends to digital banking services. Customers can utilize the bank's online platform and mobile apps to manage their finances on the go while having the peace of mind that their deposits are protected. The bank's digital offerings include online bill payments, fund transfers, account monitoring, and mobile check deposits, all backed by the security of FDIC insurance.
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Deposits are protected up to $250,000
The Bank of Old Monroe is a commercial bank, state-chartered, Fed non-member, and supervised by the Federal Deposit Insurance Corporation (FDIC). Established in 1906, the bank is regulated by the FDIC and has 5 branches in Missouri. The bank has approximately $0.85 billion in assets and is considered a local bank due to its strong community focus and local market presence.
As an FDIC-insured institution, the Bank of Old Monroe ensures that deposits are protected up to $250,000. This means that your money is backed by the full faith and credit of the U.S. government, giving you peace of mind and exceptional customer care. The FDIC insurance demonstrates the bank's commitment to maintaining customer trust and financial security.
FDIC insurance provides protection for depositors in the event that a bank fails or is unable to pay out deposits. The FDIC insurance limit of $250,000 per depositor is standard across all FDIC-insured banks. This limit applies to the total of all deposits that an account holder has at a single bank, including checking, savings, and other deposit accounts.
By insuring deposits up to $250,000, the Bank of Old Monroe provides its customers with a sense of security and confidence. This protection allows depositors to trust that their funds are safe and protected by the U.S. government, even in the unlikely event of a bank failure. It is important to note that FDIC insurance does not cover investments, such as stocks, bonds, mutual funds, or securities, only traditional deposit accounts.
With over a century of dedicated service, the Bank of Old Monroe has built lasting connections with families, friends, and businesses through generations. Their commitment to their customers and the community is evident through their personalized services, responsive support, and the security offered by FDIC insurance.
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The bank is supervised by the Federal Deposit Insurance Corporation (FDIC)
The Bank of Old Monroe is a commercial bank with a state charter and is supervised by the Federal Deposit Insurance Corporation (FDIC). It is a Fed non-member and has been FDIC-insured since its inception in 1906. The FDIC insurance guarantees that customers' deposits are protected up to $250,000, providing peace of mind and financial security for its customers. This insurance is backed by the full faith and credit of the U.S. Government, ensuring that no depositor loses their deposits within the FDIC insurance limits.
The FDIC also regulates and oversees the bank, ensuring compliance and adherence to relevant laws and regulations. This regulatory function includes insights into the bank's ownership type, trust powers, and other regulatory affiliations, which contribute to a comprehensive understanding of its operations. The FDIC provides financial data and ratios, such as the Texas Ratio, to help the public assess the bank's financial condition and stability.
As of 2024, the Bank of Old Monroe had approximately $0.85 billion in assets, with $14,000 in non-current loans and no owned real estate. It is headquartered in Old Monroe, Missouri, and is the 44th largest bank in the state, with a strong community focus and a local market presence. The bank has 5 branches and 82 employees, serving the Lincoln and St. Charles communities for over a century.
The Bank of Old Monroe offers various financial products and services, including personal and business accounts, loans, mortgages, and digital banking solutions. Its commitment to its customers and their financial goals is exemplified through its personalized services and supportive team.
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FDIC insurance limits and depositor protection
The Federal Deposit Insurance Corporation (FDIC) insures deposits at FDIC-insured banks in the event of a bank failure. FDIC insurance covers deposit accounts and other official items such as cashier’s checks and money orders. This includes checking and savings accounts, money market deposit accounts, and certificates of deposit. Notably, investment options like stocks, bonds, and mutual funds are not insured by the FDIC.
The standard FDIC insurance coverage limit is $250,000 per depositor, per FDIC-insured bank, and per ownership category. Deposit insurance is calculated on a dollar-for-dollar basis, including principal and any interest accrued or due to the depositor up to the date of default. For example, if a depositor had a certificate of deposit account with a principal balance of $195,000 and $3,000 in accrued interest, the full $198,000 would be insured.
It is important to note that deposits held in different ownership categories are separately insured, even if they are held at the same bank. For instance, a single individual can have $250,000 in a single ownership account at one bank and another $250,000 in a joint ownership account at the same bank, resulting in full insurance coverage for both accounts.
In the unlikely event of a bank failure, the FDIC acts as both the insurer of the bank's deposits and the receiver of the failed bank. As the insurer, the FDIC pays insurance to depositors up to the $250,000 limit. As the receiver, the FDIC manages the failed bank's assets and debts, selling or collecting the assets to settle its debts, including claims for deposits exceeding the insured limit.
The Bank of Old Monroe is an FDIC-insured institution located in Old Monroe, Missouri, with approximately $0.85 billion in assets. It has been serving the Lincoln and St. Charles communities for over 100 years. Customers can access their FDIC-insured accounts through the bank's mobile apps or online interface, providing convenient banking services.
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The Bank of Old Monroe's financial condition
The Bank of Old Monroe is a well-established financial institution with a strong presence in the local community. Founded in 1906, the bank has been serving the Lincoln and St. Charles communities for over a century, building lasting connections with families, friends, and businesses across generations.
As of 2024, the bank employed 82 people across 5 branches, including locations in Troy, Moscow Mills, Wentzville, and O'Fallon, in addition to its headquarters in Old Monroe, Missouri. The Bank of Old Monroe is the 44th largest bank in the state and the 1,154th largest in the nation.
In terms of financial stability, the bank is FDIC-insured, meaning that customer deposits are protected up to a value of $250,000. This insurance is backed by the full faith and credit of the U.S. Government, ensuring the bank's commitment to maintaining customer trust and financial security.
As of September 30, 2024, the Bank of Old Monroe reported total assets of approximately $850 million, with loans of nearly $500 million and deposits of around $775 million. The bank's capitalization was reported at 6.23%, which is lower than the BestCashCow average of 11.29%. Capitalization measures the bank's equity capital, which is used to underpin loans and other assets. A higher capitalization number indicates a more secure bank.
The Bank of Old Monroe also provides a range of financial products and services to its customers, including debit and credit cards, safe deposit boxes, and various loan options such as commercial real estate, construction, and agriculture loans. The bank has a strong focus on personalized service and aims to support its customers in achieving their financial goals.
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Frequently asked questions
Yes, the Bank of Old Monroe is FDIC insured, ensuring that deposits are protected up to $250,000.
FDIC insurance is backed by the full faith and credit of the U.S. government. No depositor has ever lost deposits that have been within the FDIC insurance limits.
The Bank of Old Monroe is regulated by the FDIC and has been serving its customers since 1906. The bank has approximately $0.85 billion in assets and an A health rating.
The Bank of Old Monroe is a community bank that offers personalized services and support to help you achieve your financial goals. With over 100 years of experience, they have built lasting connections with families, friends, and businesses through generations.
