Ion Bank
FDIC #18198
📍 Naugatuck, Connecticut
Ion Bank is a commercial bank (si) established in 01/01/1870. With assets of $2.18 Billion, it operates 37 domestic branches.
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Community Reinvestment Act (CRA) Rating
Latest Exam: August 1, 2024
What is CRA? The Community Reinvestment Act (CRA) is a federal law that encourages banks to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods.
Rating History
August 1, 2024
Satisfactory
September 1, 2020
Satisfactory
October 1, 2017
Satisfactory
💰 Financial Strength
Total Assets$2.18 Billion
Total Deposits$1.74 Billion
Equity Capital$182.84 Million
Net Income$11.89 Million
📈 Performance
ROA0.75%
ROE8.83%
Financial Terms:
ROA (Return on Assets): Measures profitability relative to size. 1.0%+ is good.
ROE (Return on Equity): Measures profitability for shareholders. 10%+ is strong.
ROA (Return on Assets): Measures profitability relative to size. 1.0%+ is good.
ROE (Return on Equity): Measures profitability for shareholders. 10%+ is strong.
📋 Corporate Structure
Established01/01/1870
FDIC Cert18198
Holding CoIon Financial Mhc
Parent CertNA - Not listed as a child of a larger bank.
Last ChangeAugust 31, 2022
Foreign Offices0
SAIF InsuredNo
State CharteredYes
🕰️ Lobby Hours
Monday7:00 AM - 8:00 PM
Tuesday7:00 AM - 8:00 PM
Wednesday7:00 AM - 8:00 PM
Thursday7:00 AM - 8:00 PM
Friday7:00 AM - 8:00 PM
Saturday7:00 AM - 3:00 PM
SundayClosed
📜 Institutional History
2022
Merger / Acquisition
Acquired: Lincoln 1st Bank
2022
Relocation
Moved HQ to: 87 Church St, Naugatuck, CT 06770.
2018
Name Change
Name became: Changed Institution Name To Ion Bank.
2009
Merger / Acquisition
Acquired: Castle Bank & Trust Company
2000
Relocation
Moved HQ to: 251 Church Street, Naugatuck, CT 06770.