Question 1

What is Colonial Savings?

Accepted Answer

Colonial Savings is a full-service community bank and national mortgage servicer headquartered in Fort Worth, Texas. Operating as Colonial Savings, F.A. (Federal Association), the bank serves North Central Texas with approximately $936 million in total assets and 7 branch offices. Colonial Savings provides comprehensive personal banking, business banking, and commercial lending solutions while also managing a national mortgage servicing portfolio of approximately $20 billion.

The bank operates as a federally chartered thrift institution and has cultivated a unique business model combining community banking with award-winning mortgage servicing capabilities.

Question 2

When was Colonial Savings founded?

Accepted Answer

Colonial Savings was founded on February 20, 1952, and formally established on January 1, 1962, as a federally chartered savings association. The institution was founded by Chairman Emeritus Jimmy DuBose, who established the bank with a vision of providing solid banking solutions coupled with exceptional customer service.

For more than 70 years, Colonial Savings has been part of the North Texas community, maintaining its commitment to serving local families and businesses. The bank has remained privately held throughout its history, allowing it to focus on customer needs rather than stockholder demands. This private ownership structure, maintained by the DuBose family, has enabled Colonial Savings to resist industry fads and maintain its core banking philosophy across multiple generations.

Question 3

Where is Colonial Savings headquartered?

Accepted Answer

Colonial Savings is headquartered in Fort Worth, Texas, at 2600 West Freeway. The bank's main office is located in Tarrant County, positioning it in one of the major cities within the Dallas-Fort Worth-Arlington metropolitan area.

Question 4

Where does Colonial Savings operate?

Accepted Answer

Colonial Savings operates throughout North Central Texas with 6 banking branches serving the Dallas-Fort Worth-Arlington metropolitan area. The bank's physical presence is concentrated in Tarrant County and surrounding areas, allowing it to serve customers across the Fort Worth region and broader DFW metroplex.

While the bank's retail banking operations are regional, its mortgage servicing business operates on a national scale. Colonial Savings services tens of thousands of residential mortgage loans throughout the United States, extending its reach far beyond its Texas branch footprint. This dual-market approach allows Colonial Savings to maintain deep local banking relationships while leveraging its mortgage servicing expertise nationwide.

Question 5

What services does Colonial Savings offer?

Accepted Answer

Colonial Savings offers a comprehensive suite of personal and business banking services. Personal banking products include checking accounts, savings accounts, money market accounts, certificates of deposit, and individual retirement accounts. The bank provides various lending solutions including residential mortgages, home equity loans and lines of credit, consumer loans, and personal credit products.

Business banking services encompass business checking and savings accounts, commercial real estate loans, commercial lending, small business loans, and business lines of credit. The bank specializes in commercial lending solutions tailored to the needs of North Texas businesses.

Digital banking capabilities include online banking, mobile banking applications, bill pay services, electronic statements, mobile check deposit, account alerts, and wire transfer services. Colonial Savings also offers traditional banking services such as safe deposit boxes, notary services, and debit card services.

As a national mortgage servicer, Colonial Savings provides comprehensive mortgage servicing solutions including payment processing, escrow administration, customer service, and loan modification assistance. The bank services residential mortgage loans for Fannie Mae, Freddie Mac, and other investors across the United States.

Question 6

What makes Colonial Savings unique?

Accepted Answer

Colonial Savings distinguishes itself through its dual identity as both a community bank and a nationally recognized mortgage servicer. The bank has been consistently recognized by Fannie Mae and Freddie Mac as one of the top mortgage servicers in the nation, winning numerous awards over recent years for service excellence.

As a privately held institution, Colonial Savings operates without the pressure of satisfying thousands of stockholders seeking high returns. This ownership structure allows the bank to focus on customer relationships and long-term stability rather than quarterly earnings targets. The bank proudly states it doesn't spend millions on advertising, instead relying on referrals from satisfied customers.

Colonial Savings holds an A+ rating from the Better Business Bureau and has been BBB Accredited since March 9, 2012, demonstrating its commitment to ethical business practices and customer satisfaction. The bank's philosophy of offering "all the financial services you need under one reliable roof" reflects its comprehensive approach to serving customer needs.

The bank's financial performance shows solid results with a return on assets (ROA) of 1.42%, though its return on equity (ROE) of 5.78% reflects the conservative capital structure typical of thrift institutions. Colonial Savings manages its mortgage servicing portfolio of approximately $20 billion alongside approximately $1 billion in bank assets, showcasing its operational scale and expertise.

Question 7

What type of financial institution is Colonial Savings?

Accepted Answer

Colonial Savings, F.A. is a Federal Savings Association (thrift institution) chartered and regulated at the federal level. The designation "F.A." indicates its status as a federally chartered institution formerly supervised by the Office of Thrift Supervision (OTS), with regulatory oversight later transferred to the Office of the Comptroller of the Currency (OCC) following the OTS's dissolution.

As a thrift institution, Colonial Savings historically focused on residential mortgage lending and retail deposits, though it has expanded to offer comprehensive commercial banking services. The bank is FDIC-insured (Certificate #31361), ensuring depositor protection up to applicable limits. This federal charter structure provides Colonial Savings with specific authorities and regulatory frameworks designed for institutions that traditionally emphasized mortgage lending and savings products, while allowing it to compete effectively as a full-service community bank in the modern banking environment.

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