Reviewed by Rena Goyal | January 20, 2024
I recently had the pleasure of banking with Old Glory, and I must say it's a refreshing experience to find a financial institution that aligns with American values. The commitment to upholding Judeo-Christian principles, as highlighted by the bank's name, is commendable.
The simplicity of the website and platform, while described by some as basic, contributed to a straightforward and easy-to-navigate banking experience for me. The focus on core values, combined with the credibility added by figures like Dr. Ben Carson, a founding board member, instills confidence in Old Glory Bank.
What sets Old Glory apart is its dedication to principles that resonate with many Americans. In a world where financial institutions can sometimes seem disconnected from our values, Old Glory stands out as a beacon of integrity.
I appreciate the bank's stand against what some perceive as divisive ideologies, and I believe that having a financial partner like Old Glory is a testament to the essence of what it means to be American.
Overall, I would rate Old Glory Bank highly, not just for its services but for being a bank that reflects and respects the beliefs of its customers.
Rating: 5/5
2024 Overview
General Bank Information
Old Glory Bank is an FDIC insured institution located in Elmore City, OK. It was founded in 1903 and has approximately $0.14 billion in assets.
| FDIC Insured | Yes |
| FDIC Certificate | # 18924 |
| Date Established | 1903 |
| Assets | $ 139.71 million |
| Loans | $ 3.31 million |
| Deposits | $ 128.77 million |
| Capital | $ 10.84 million |
For a more detailed analysis of Old Glory Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - November 14, 2024
Your Current Location: Ohio, OH 43085
Loan Rates - November 14, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Old Glory Bank
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Monthly Payment |
Learn More |
|---|---|---|---|---|
NMLS ID: 2578474 |
6.494% |
6.375% 0.88 points $4,010 fees |
$1,997 | Learn More |
NMLS ID: 1025894 |
6.865% |
6.750% 1.00 points $3,775 fees |
$2,076 | Learn More |
NMLS ID: 3030 |
7.225% |
7.125% 1.00 points $3,200 fees |
$2,156 | Learn More |
NMLS ID: 491986 |
points fees |
Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
Intro APR
7.490 %
After Intro: 7.490 % |
$0 |
Learn More
More Info |
Achieve Loans See Table |
Intro APR
9.250 %
After Intro: 9.250 % |
$0 |
Learn More
More Info |
Note to Old Glory Bank
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Branches
Old Glory Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Old Glory Bank Locations around zip code 43085
| Branch | Distance | Map | View Lobby Hours |
|---|---|---|---|
| 847.58 | A | View Lobby Hours |
Climate Policy and Initiatives
Old Glory Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.
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Financial Details
Old Glory Bank Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Old Glory Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.
Texas Ratio
| Old Glory Bank | U.S. Bank Average |
|---|---|
| 1.32% | 4.48% |
The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.
As of June 30, 2024, Old Glory Bank had $144,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $10,842,000 in equity and $31,000 in loans loss reserves. That gives it a Texas Ratio of 1.32%.
Return on Equity
| Old Glory Bank | U.S. Bank Average |
|---|---|
| -129.31% | 10.46% |
Old Glory Bank has a Return on Equity of -129.31% versus the BestCashCow average of 10.46%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.
Capitalization
| Old Glory Bank | U.S. Bank Average |
|---|---|
| 7.76% | 10.84% |
Old Glory Bank has a Capitalization of 7.76% versus the BestCashCow average of 10.84. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.
Old Glory Bank Balance Sheet Analysis
As of June 30, 2024, Old Glory Bank had assets of $139,708,000, loans of $3,306,000, and deposits of $128,767,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.
Summary Balance Sheet
June 30, 2024| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 104.81 million |
| Interest-bearing balances | $ 103.76 million |
| Total securities | $ 0.61 million |
| Federal funds sold and reverse repurchase | $ 27.04 million |
| Net loans and leases | $ 3.31 million |
| Loan loss allowance | $ 0.03 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | N.A. |
| Goodwill and other intangibles | $ 0.81 million |
| All other assets | $ 0.53 million |
| Total Assets | $ 128.87 million |
| LIABILITIES | |
|---|---|
| Total deposits | $ 128.77 million |
| Interest-bearing deposits | $ 81.25 million |
| Deposits held in domestic offices | $ 128.77 million |
| % insured (estimated) | 93.95% |
| Federal funds purchased and repurchase agreements | N.A. |
| Trading liabilities | N.A. |
| Other borrowed funds | $ 5.71 million |
| Subordinated debt | N.A. |
| All other liabilities | $ 0.31 million |
| Total Liabilities | $ 128.87 million |
| Shareholders’ Equity | $ 10.84 million |
Summary Income Statement
June 30, 2024| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 2.85 million |
| Total Interest Expense | $ 0.39 million |
| Net interest income | $ 2.46 million |
| Provision for loan and lease losses | $ 0.01 million |
| Total non interest income | $ 1.04 million |
| Total non interest expense | $ 10.39 million |
| Pre-tax Net Operating Income | $ 0.02 million |
Bank Loan Profile?
The top three loan types in Old Glory Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial and Industrial Loans, and Small Business Loans.
Compared to other banks in Oklahoma, Old Glory Bank has a significantly higher percent of 1-4 Family Residential Loans, Commercial and Industrial Loans on its balance sheet, potentially indicating a specialty in that lending area.
Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.
| % Loans |
% Comparison to Other Banks |
|||
|---|---|---|---|---|
| Low | Med | High | ||
| 1-4 Family Residential Loans | 100.00 | ✓ | ||
| Multifamily Mortgages |
0.00 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 1.75 | ✓ | ||
| Small Business Loans | 14.73 | ✓ | ||
| Construction and Development Loans | 0.00 | ✓ | ||
| Commercial Real Estate | 1.88 | ✓ | ||
| Commercial and Industrial Loans | 79.37 | ✓ | ||
| Farm Loans | 10.47 | ✓ | ||
Customer Reviews for Old Glory Bank
Rena Goyal
January 20, 2024
I recently had the pleasure of banking with Old Glory, and I must say it's a refreshing experience to find a financial institution that aligns with American values. The commitment to upholding Judeo-Christian principles, as highlighted by the bank's name, is commendable.
The simplicity of the website and platform, while described by some as basic, contributed to a straightforward and easy-to-navigate banking experience for me. The focus on core values, combined with the credibility added by figures like Dr. Ben Carson, a founding board member, instills confidence in Old Glory Bank.
What sets Old Glory apart is its dedication to principles that resonate with many Americans. In a world where financial institutions can sometimes seem disconnected from our values, Old Glory stands out as a beacon of integrity.
I appreciate the bank's stand against what some perceive as divisive ideologies, and I believe that having a financial partner like Old Glory is a testament to the essence of what it means to be American.
Overall, I would rate Old Glory Bank highly, not just for its services but for being a bank that reflects and respects the beliefs of its customers.
Rating: 5/5
Is this review helpful? Yes:4 / No: 0
Jack D. Channing
January 20, 2024 |
We need more companies such as Old Glory, because there are few left out there that respect American's values and beliefs. The fact that we need a bank such as Old Glory in the first place shows how divided our country is, and although having a bank such as this one makes things worse in a sense, it is necessary, since if we don't, we will end up like Canada with the government seizing our assets for protesting our beliefs. It has already happened in a sense, and it is against everything we stand for as Americans, and having a bank like Old Glory is exactly what America is REALLY all about. This bank is a 10/10!
Is this review helpful? Yes:3 / No: 0
Lexor
October 30, 2023 |
I opened a Checking & Savings account with Old Glory Bank in August. I deposited just a few hundred in each account at first until I felt more comfortable with transferring more. I had trust issues. The website was very basic. After signing-in, the platform felt even more rudimentary. About a month later I received a check in the mail from Old Glory Bank for the total amounts I had in their bank. I went to check on my accounts and noticed all my money had been withdrawn and my accounts were closed. No explanation given. I tried contacting them for some answers as to what happened and still haven't received a response. That's not all. I'm still able to sign-in to my accounts even though there is no money in them. Very strange. I would not recommend this bank at this point in time.
Is this review helpful? Yes:4 / No: 10
chuckib
October 7, 2023 |
Primary reason from switching from one of the top banks in America to Old Glory is exactly what their name implies- a bank that is committed to upholding the Judeo Christian Principles this country was founded upon. A bank that will not allocate funds to woke socialist values and genocide of our children. Dr Ben Carson a founding board member added credibility. Chuck B
Is this review helpful? Yes:14 / No: 1
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