Paramount Bank

Headquarters

90 Village Square Shop Ctr
Hazelwood, MO 63042
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Notable Rates APY Vs.Others
Savings N.A. 5.50% →
1-Year CD N.A. 4.80% →
2-Year CD N.A. 4.25% →
5-Year CD N.A. 4.00% →
30-Year Mortgage N.A. 4.91% →
15-Year Mortgage N.A. 4.39% →
HELOC N.A. 0.99% →

Reviewed by Old Man Bob | April 20, 2023 |

CDs 12 Month Rates

This is a true blue community bank. When you call you get people that are able to take action and make decisions. Customer service is number 1. Works great for CDs. They have a nice stand alone building and are not in a strip mall.


2024 Overview

General Bank Information

Paramount Bank is an FDIC insured institution located in Hazelwood, MO. It was founded in 2004 and has approximately $0.1 billion in assets.

FDIC Insured Yes
FDIC Certificate # 57884
Date Established 2004
Assets $ 100.70 million
Loans $ 84.77 million
Deposits $ 76.59 million
Capital $ 12.57 million
 

For a more detailed analysis of Paramount Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - November 4, 2024

Your Current Location: Ohio, OH 43085


Loan Rates - November 4, 2024

Your Current Location: Ohio, OH 43085

There are currently no loan rates available for Paramount 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
District Lending
NMLS ID: 1835285
6.380% 6.250%
0.88 points
$4,400 fees
$1,971 Learn More
PenFed Credit Union
NMLS ID: 401822
6.818% 6.625%
1.00 points
$6,400 fees
$2,049 Learn More
Mutual of Omaha Mortgage, Inc.
NMLS ID: 1025894
6.984% 6.875%
0.88 points
$3,545 fees
$2,103 Learn More
Rocket Mortgage
NMLS ID: 3030
7.200% 7.125%
0.75 points
$2,400 fees
$2,156 Learn More

Featured - Ohio Home Equity Line Of Credit Rates 2024

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
Intro APR 7.490 %
After Intro: 7.490 %
$0 Learn More
More Info

Note to Paramount Bank
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Branches

Paramount 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


Paramount Bank Locations around zip code 43085


BranchDistance Map View Lobby Hours

Paramount Bank

398.71 A View Lobby Hours


Climate Policy and Initiatives

Paramount 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

Paramount Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Paramount 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
Paramount Bank U.S. Bank Average
7.7% 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, Paramount Bank had $0 in non-current loans and $1,039,000 in owned real estate. To cover these potential losses it had $12,568,000 in equity and $925,000 in loans loss reserves. That gives it a Texas Ratio of 7.7%.

Return on Equity
Paramount Bank U.S. Bank Average
-34.44% 10.46%

Paramount Bank has a Return on Equity of -34.44% 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
Paramount Bank U.S. Bank Average
12.48% 10.84%

Paramount Bank has a Capitalization of 12.48% 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.

Paramount Bank Balance Sheet Analysis

As of June 30, 2024, Paramount Bank had assets of $100,703,000, loans of $84,772,000, and deposits of $76,591,000. 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 $ 4.66 million
Interest-bearing balances $ 4.62 million
Total securities $ 1.41 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 84.77 million
Loan loss allowance $ 0.93 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.04 million
Goodwill and other intangibles $ 0.66 million
All other assets $ 6.06 million
     Total Assets $ 88.14 million
LIABILITIES
Total deposits $ 76.59 million
      Interest-bearing deposits $ 73.23 million
      Deposits held in domestic offices $ 76.59 million
      % insured (estimated) 93.84%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 0.50 million
Subordinated debt N.A.
All other liabilities $ 1.86 million
      Total Liabilities $ 88.14 million
      Shareholders’ Equity $ 12.57 million

Summary Income Statement

June 30, 2024
INCOME AND EXPENSES
Total Interest Income $ 2.78 million
Total Interest Expense $ 1.85 million
Net interest income $ 0.94 million
Provision for loan and lease losses $ 0.11 million
Total non interest income $ 3.21 million
Total non interest expense $ 6.52 million
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in Paramount Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Small Business Loans.

Compared to other banks in Missouri, Paramount Bank has a significantly higher percent of 1-4 Family Residential 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 57.63
Multifamily
Mortgages
1.45
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 5.71
Construction and Development Loans 1.79
Commercial Real Estate 12.42
Commercial and Industrial Loans 3.21
Farm Loans 0.00

Customer Reviews for Paramount Bank (6)


  • April 20, 2023 |

    CDs 12 Month Rates

    This is a true blue community bank. When you call you get people that are able to take action and make decisions. Customer service is number 1. Works great for CDs. They have a nice stand alone building and are not in a strip mall.

  • February 16, 2022 |

    Horrible experience with Paramount Bank. Six months after establishing a Business Money Market Account with over $100,000, Paramount Bank decided to drop its interest rate from the promised .50% to .05% with no notice. I thought it must have been a typo when I first saw it on my statement, because I could not believe that any reputable bank could do such a thing to its customers, particularly a large depositor. When I asked why the change was made, the only answer I received was that it was a decision of the Board. Lousy customer service and absolutely no respect for its customers. Recommend that you stay away from this bank!

  • October 30, 2021 |

    The absolute most incompetent group of folks I’ve ever worked with... Tom Russo and his team are an embarrassment to the lending industry. The negligence and lack of attention they exhibit is truly disgusting. If I could give them a negative star rating, I would. Consumers beware, don’t waste your time!

  • January 10, 2021 |

    Online CDs 12 Month Rates

    The bank has it's headquarters in a strip mall so I will be happier earning a little less somewhere else.

  • December 31, 2020 | | Replies 1

    Online CDs 12 Month Rates

    I was about to open a CD account with $250,000 but now we have Josh Hawley and I think that there needs to be some repercussions for the people of Missouri for this. This bank is based in MO. I will take my business elsewhere. Sorry, but please elect better leaders next time.

    jjj999 | Apr 10, 2021

    Obviously you don't have 250k, or you wouldn't be dumb enough to invest it all in a cd.


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