Overview of Simply Bank
The bank was established in the year 1890 and describes itself as an “independent, hometown bank”. Simply Bank’s main office is located in the city of Dayton in the state of Tennessee. Due to its size and regional focus, the bank is best described as a community bank and its asset base of $724 million ranks it in the 70th percentile of banks in the United States. Simply Bank operates domestically, currently has 14 offices in the U.S. and a total employee base of 134 people.
Simply Bank Products and Services
The bank offers a number of different traditional banking products such as checking and savings accounts in addition to providing loans:
- Simply Checking – the bank requires $50 to open this account, but has no minimum balance, no monthly service charge and offers a free pack of personalized checks.
- Simply Savings – this account also requires $50 to open, and there is no cost associated with the account as long as you maintain a balance above $50. Account holders are also permitted to make six withdrawals and/or transfers each month.
- Other Products – the bank also offers Simply CDs, Simply IRAs, business accounts, personal loans, Home Equity Line of Credits and business lending products.
Other Information for Simply Bank
- Simply Bank Routing Number: 064204703
- Main Office Address: 420 3rd Ave, Dayton, TN 37321
- Website: www.simply.bank
- Total Number of Branches: 14
- Total Number of International Branches: None
- Number of Employees: 134
- FDIC Certificate Number: 10693
- FDIC Community Bank: Yes
- FDIC Field Office: Knoxville
- Independent or Subsidiary Bank: Independent
- Federal Reserve ID Number: 724230
- Bank Charter Class: NM
- Primary Regulator: FDIC
Financial Metrics: Simply Bank (as of Dec 2021)
- Total Assets: $724 million
- Net Loans: $496 million
- Total Deposits: $651 million
- Return on Equity: 1.5%
- Return on Assets: 0.14%
- Tier 1 Risk-Based Capital: 13.5%