The most recent branch location of Residence Savings & Loan sits on the western edge of Brimfield, close to the Tallmadge border, in Cascades Plaza. Our conclusion with respect to asset quality incorporates our evaluation of data depicting regional financial conditions as well as our computations of a relatively low March 31, 2016 nonperforming asset ratio, beneath normal reserve protection for nonperforming loans; and apparently acceptable quality, or no larger than common, holdings of business actual property and building loans, two categories that can intensify credit danger.
As of March 31, 2016, the bank displayed Under Normal balance sheet liquidity and a No Higher Than Common Dependence upon wholesale, or non-core liabilities, which include all borrowings, similar to Federal Home Mortgage Financial institution Advances, and CD’s larger than $250,000. Dwelling savings is targeted savings which, among different things, can be used for improving housing circumstances.
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