Armstrong Bank


Armstrong Bank is an FDIC insured institution headquartered at 1215 W Okmulgee St, Muskogee, OK 74401.
It was founded in 1910 and has approximately $2 billion in assets. Customers can open an account at one of its 22 branches.

Deposit Rates - February 25, 2024

SAVINGS RATES APY MIN
CD RATES APY MIN
MM RATES APY MIN
Money Market
0.15% $2,500 Compare
Money Market
0.30% $10,000 Compare
INT CHECKING RATES APY MIN
Int Ckg
0.10% $1,000

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 2315
Date Established 1910
Assets $ 2.45 billion
Loans $ 1,483.71 million
Deposits $ 2.30 billion
Capital $ 136.88 million

Summary Balance Sheet as of June 30, 2023

ASSETS
Cash & Balances due from depository institutions $ 105.78 million
Interest-bearing balances $ 80.29 million
Total securities $ 715.08 million
Federal funds sold and reverse repurchase $ 0.81 million
Net loans and leases $ 1,483.71 million
Loan loss allowance $ 17.62 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 2.52 million
Goodwill and other intangibles $ 16.95 million
All other assets $ 55.03 million
     Total Assets $ 2.31 billion

LIABILITIES
Total deposits $ 2.30 billion
      Interest-bearing deposits $ 1,678.23 million
      Deposits held in domestic offices $ 2.30 billion
      % insured (estimated) 79.18%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 8.56 millionn
      Total Liabilities $ 2.31 billion
      Shareholders’ Equity $ 136.88 million

Summary Income Statement as of June 30, 2023

INCOME AND EXPENSES
Total Interest Income $ 77.58 million
Total Interest Expense $ 32.77 million
Net interest income $ 44.80 million
Provision for loan and lease losses $ 2.03 million
Total non interest income $ 16.93 million
Total non interest expense $ 44.71 million
Pre-tax Net Operating Income $ 16.46 million

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Branches

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Armstrong Bank Locations

Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    LOCAL CD
    Bank
    OKLAHOMA
    $50,000
    6 Month
    0.30%
    0.77x (National Avg. - 0.39%)
    $10,000
    -
    SCENARIO
    Year Rate
    0.30%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 150 105
    2 50,150 150 105
    3 50,300 151 106
    4 50,451 151 106
    5 50,603 152 106
    6 50,755 152 107
    7 50,907 153 107
    8 51,059 153 107
    9 51,213 154 108
    10 51,366 154 108
    11 51,520 155 108
    12 51,675 155 109
    13 51,830 155 109
    14 51,985 156 109
    15 52,141 156 109
    16 52,298 157 110
    17 52,455 157 110
    18 52,612 158 110
    19 52,770 158 111
    20 52,928 159 111
    TOTAL $3,087 $2,161
  • 2
    LOCAL CD
    Online Bank
    -
    $50,000
    6 Month
    5.35%
    13.75x (National Avg. - 0.39%)
    $1,000
    -
    SCENARIO
    Year Rate
    5.35%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,675 1,873
    2 52,675 2,818 1,973
    3 55,493 2,969 2,078
    4 58,462 3,128 2,189
    5 61,590 3,295 2,307
    6 64,885 3,471 2,430
    7 68,356 3,657 2,560
    8 72,013 3,853 2,697
    9 75,866 4,059 2,841
    10 79,925 4,276 2,993
    11 84,201 4,505 3,153
    12 88,705 4,746 3,322
    13 93,451 5,000 3,500
    14 98,451 5,267 3,687
    15 103,718 5,549 3,884
    16 109,267 5,846 4,092
    17 115,113 6,159 4,311
    18 121,271 6,488 4,542
    19 127,759 6,835 4,785
    20 134,594 7,201 5,041
    TOTAL $91,795 $64,256
  • 3
    LOCAL CD
    Online Bank
    -
    $50,000
    12 Month
    5.40%
    9.89x (National Avg. - 0.55%)
    $1,000
    -
    SCENARIO
    Year Rate
    5.40%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,700 1,890
    2 52,700 2,846 1,992
    3 55,546 2,999 2,100
    4 58,545 3,161 2,213
    5 61,707 3,332 2,333
    6 65,039 3,512 2,458
    7 68,551 3,702 2,591
    8 72,253 3,902 2,731
    9 76,154 4,112 2,879
    10 80,267 4,334 3,034
    11 84,601 4,568 3,198
    12 89,170 4,815 3,371
    13 93,985 5,075 3,553
    14 99,060 5,349 3,744
    15 104,409 5,638 3,947
    16 110,047 5,943 4,160
    17 115,990 6,263 4,384
    18 122,253 6,602 4,621
    19 128,855 6,958 4,871
    20 135,813 7,334 5,134
    TOTAL $93,147 $65,203
  • 4
    LOCAL CD
    Bank
    -
    $50,000
    12 Month
    5.30%
    9.71x (National Avg. - 0.55%)
    $1,000
    -
    SCENARIO
    Year Rate
    5.30%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,650 1,855
    2 52,650 2,790 1,953
    3 55,440 2,938 2,057
    4 58,379 3,094 2,166
    5 61,473 3,258 2,281
    6 64,731 3,431 2,402
    7 68,162 3,613 2,529
    8 71,774 3,804 2,663
    9 75,578 4,006 2,804
    10 79,584 4,218 2,953
    11 83,802 4,441 3,109
    12 88,243 4,677 3,274
    13 92,920 4,925 3,447
    14 97,845 5,186 3,630
    15 103,031 5,461 3,822
    16 108,491 5,750 4,025
    17 114,242 6,055 4,238
    18 120,296 6,376 4,463
    19 126,672 6,714 4,700
    20 133,386 7,069 4,949
    TOTAL $90,455 $63,319