The Citizens National Bank of Somerset
Headquarters
44 Public Sq
Somerset, KY 42501
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2024 Overview
General Bank Information
The Citizens National Bank of Somerset is an FDIC insured institution located in Somerset, KY. It was founded in 1919 and has approximately $0.61 billion in assets. Customers can open an account at one of its 11 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 2725 |
| Date Established | 1919 |
| Assets | $ 607.02 million |
| Loans | $ 328.20 million |
| Deposits | $ 518.88 million |
| Capital | $ 22.81 million |
For a more detailed analysis of The Citizens National Bank of Somerset's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - November 7, 2024
Your Current Location: Ohio, OH 43085
Loan Rates - November 7, 2024
Your Current Location: Ohio, OH 43085
| Refinance Mortgage Rates | APR | Rate | Monthly Payment | |
|---|---|---|---|---|
| 10 Year Fixed Conforming See Amortization Table |
6.81% | 6.75% | $3,674.37 | |
| 20 Year Fixed Conforming See Amortization Table |
7.17% | 7.13% | $2,505.99 | |
| 30 Year Fixed Conforming See Amortization Table |
7.28% | 7.25% | $2,182.96 |
| Purchase Mortgage Rates | APR | Rate | Monthly Payment | |
|---|---|---|---|---|
| 10 Year Fixed Conforming See Amortization Table |
6.81% | 6.75% | $3,674.37 | |
| 20 Year Fixed Conforming See Amortization Table |
7.17% | 7.13% | $2,505.99 | |
| 30 Year Fixed Conforming See Amortization Table |
7.28% | 7.25% | $2,182.96 | |
Compare with 6.494% APR and 6.375% 30-Year Fixed RATE from District Lending
See All Mortgage Rates |
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Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.
Branches
The Citizens National Bank of Somerset 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
The Citizens National Bank of Somerset Locations around zip code 43085
| Branch | Distance | Map | View Lobby Hours |
|---|---|---|---|
| 165.51 | A | View Lobby Hours | |
| 211.02 | B | View Lobby Hours | |
| 215.74 | C | View Lobby Hours | |
| 215.75 | D | View Lobby Hours | |
| 215.81 | E | View Lobby Hours | |
| 216.15 | F | View Lobby Hours | |
| 217.41 | G | View Lobby Hours | |
| 218.75 | H | View Lobby Hours | |
| 219.95 | I | View Lobby Hours | |
| 229.11 | J | View Lobby Hours | |
| 235.21 | K | View Lobby Hours |
Climate Policy and Initiatives
The Citizens National Bank of Somerset 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
The Citizens National Bank of Somerset Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of The Citizens National Bank of Somerset. 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
| The Citizens National Bank of Somerset | U.S. Bank Average |
|---|---|
| 3.53% | 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, The Citizens National Bank of Somerset had $936,000 in non-current loans and $52,000 in owned real estate. To cover these potential losses it had $22,811,000 in equity and $5,187,000 in loans loss reserves. That gives it a Texas Ratio of 3.53%.
Return on Equity
| The Citizens National Bank of Somerset | U.S. Bank Average |
|---|---|
| 25.84% | 10.46% |
The Citizens National Bank of Somerset has a Return on Equity of 25.84% 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
| The Citizens National Bank of Somerset | U.S. Bank Average |
|---|---|
| 3.76% | 10.84% |
The Citizens National Bank of Somerset has a Capitalization of 3.76% 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.
The Citizens National Bank of Somerset Balance Sheet Analysis
As of June 30, 2024, The Citizens National Bank of Somerset had assets of $607,021,000, loans of $328,201,000, and deposits of $518,882,000. 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 | $ 22.68 million |
| Interest-bearing balances | $ 12.14 million |
| Total securities | $ 245.18 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 328.20 million |
| Loan loss allowance | $ 5.19 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | $ 0.05 million |
| Goodwill and other intangibles | N.A. |
| All other assets | $ 4.39 million |
| Total Assets | $ 584.21 million |
| LIABILITIES | |
|---|---|
| Total deposits | $ 518.88 million |
| Interest-bearing deposits | $ 323.95 million |
| Deposits held in domestic offices | $ 518.88 million |
| % insured (estimated) | 75.02% |
| Federal funds purchased and repurchase agreements | $ 62.46 million |
| Trading liabilities | N.A. |
| Other borrowed funds | N.A. |
| Subordinated debt | N.A. |
| All other liabilities | $ 2.79 million |
| Total Liabilities | $ 584.21 million |
| Shareholders’ Equity | $ 22.81 million |
Summary Income Statement
June 30, 2024| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 13.51 million |
| Total Interest Expense | $ 5.28 million |
| Net interest income | $ 8.22 million |
| Provision for loan and lease losses | $ 0.21 million |
| Total non interest income | $ 2.30 million |
| Total non interest expense | $ 7.46 million |
| Pre-tax Net Operating Income | $ 4.53 million |
Bank Loan Profile?
The top three loan types in The Citizens National Bank of Somerset’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Construction and Development Loans.
Compared to other banks in Kentucky, The Citizens National Bank of Somerset has a significantly higher percent of Multifamily Mortgages 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 | 43.63 | ✓ | ||
| Multifamily Mortgages |
6.22 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 2.84 | ✓ | ||
| Small Business Loans | 8.96 | ✓ | ||
| Construction and Development Loans | 9.17 | ✓ | ||
| Commercial Real Estate | 20.17 | ✓ | ||
| Commercial and Industrial Loans | 5.87 | ✓ | ||
| Farm Loans | 0.19 | ✓ | ||
Customer Reviews for The Citizens National Bank of Somerset
preachjon@gmail.com
March 26, 2021
So my bank citizens national bank of Somerset ky. They have previously in the past deposited the wrong person's tax account into my account and taking it back out without my whereabouts which made my account overdraft. They never even called to let me know! They then allowed a check to be processed that I had to pay fees against to do to stop payment. They now deposited a fraud check about getting paid to drive with sticker on car I received in the mail. This check I brought to them for investigation and they told me the same day I brought it to them they contacted the bank it was from and confirmed it was fraud. They placed a 7-day hold on this check and told me if it was fake I would never see the money in my account. However I did see that money. They then decided to take the money away. They did not take it away once they took it away to twice making my account negatives again! If I had not been paying attention here they would have cheating me out of three grand. Now for some reason last night this funds from his fake check show up for the second time!!! I am not kidding folks and for the second time last night they took these funds back away from me who knows a good lawyer I could contact? This bank should allow me the funds at their expense and fire the employees involved for all the headache and confusion I've experienced with them. I was not trying to cheap them. I did not know if this fraud that check was real or fake That's the reason I brought it to them for investigation. They messed up and this investigation five times! This makes seven times total this bank has messed my account up! Please folks stay away from this bank! I have banked here over 13 years. If not for pending payments IE taxes and such awaiting this account it would be closed!
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