Question 1

What is El Dorado Savings Bank?

Accepted Answer

El Dorado Savings Bank is a federally chartered savings bank headquartered in Placerville, California. With approximately $2.4 billion in assets and $2.1 billion in deposits, it serves customers across Northern California and Nevada through 35 branch locations.

The bank specializes in residential mortgage lending, including purchase, refinance, and home improvement loans for one-to-four family dwellings. As a portfolio lender, El Dorado Savings Bank retains the loans it originates and offers flexible underwriting standards to serve creditworthy borrowers who may not meet traditional guidelines.

Question 2

When was El Dorado Savings Bank founded?

Accepted Answer

El Dorado Savings Bank opened for business in January 1958 in Placerville, California. The bank was established with a clear mission: to offer competitive savings programs to local residents while promoting home ownership through construction, purchase, and refinance loans.

Over its 66-year history, the bank has remained faithful to these original principles while expanding its product offerings and service delivery channels. Despite significant growth, El Dorado Savings Bank has maintained its commitment to community-focused banking and personal customer service.

Question 3

Where is El Dorado Savings Bank headquartered?

Accepted Answer

El Dorado Savings Bank is headquartered in Placerville, California, located in El Dorado County. The main office is situated at 4040 El Dorado Road in Placerville, which serves as the center of operations for the bank's 35-branch network.

Placerville, positioned in the Sierra Nevada foothills, reflects the bank's roots in serving Northern California's mountain and foothill communities.

Question 4

Where does El Dorado Savings Bank operate?

Accepted Answer

El Dorado Savings Bank operates 35 full-service branches across Northern California and Nevada. In California, the bank has 31 branches serving the Sacramento-Roseville-Folsom metropolitan area and surrounding counties including El Dorado, Placer, Amador, Calaveras, and Alpine counties.

The bank also maintains a presence in the Lake Tahoe region with branches in South Lake Tahoe and Tahoe City. In Nevada, El Dorado Savings Bank operates 4 branches in the Reno-Carson City area, including locations in Carson City, Gardnerville, Sparks, and Stateline.

This geographic footprint positions the bank to serve both urban Sacramento-area customers and rural mountain communities throughout the region.

Question 5

What services does El Dorado Savings Bank offer?

Accepted Answer

El Dorado Savings Bank offers a comprehensive suite of banking products including savings accounts, checking accounts, money market accounts, certificates of deposit (CDs), and Individual Retirement Accounts (IRAs). The bank's primary focus is residential mortgage lending, including home purchase loans, refinancing, construction loans, and home equity lines of credit (HELOCs).

The bank also provides small business lending and residential-secured small farm loans. Digital banking services include the MyEDSB mobile banking app for iOS and Android devices, online Internet Banking, telephone banking, and ATM access.

Customers can perform transactions such as checking account balances, transferring funds between accounts, paying bills, and managing their accounts remotely. The bank also supports mobile payment options including Apple Pay, Samsung Pay, and Android Pay.

Question 6

What makes El Dorado Savings Bank unique?

Accepted Answer

El Dorado Savings Bank distinguishes itself through exceptional financial stability and customer service. The bank has received Bauer Financial's highest 5-star safety rating for 123 consecutive quarters dating back to 1993, making it one of the longest continuously 5-star rated banks in the United States.

As a portfolio lender that retains its loans rather than selling them, El Dorado Savings Bank offers flexible and alternative underwriting standards to qualify creditworthy borrowers who may not meet conventional guidelines. This approach allows the bank to serve a broader range of community members seeking home ownership.

The bank's commitment to personalized service has been a cornerstone since its founding, with management insisting that each employee provides personal, efficient, and friendly service to all customers. The bank has maintained consistent growth and profitability throughout its history while remaining independent and community-focused.

Question 7

What type of financial institution is El Dorado Savings Bank?

Accepted Answer

El Dorado Savings Bank is a federally chartered savings bank, operating under the designation F.S.B. (Federal Savings Bank). This institutional type is regulated by the Office of the Comptroller of the Currency (OCC) and is insured by the Federal Deposit Insurance Corporation (FDIC).

As a savings bank, El Dorado Savings Bank emphasizes deposit-taking and residential mortgage lending as its core business activities. The bank operates under a traditional community banking model, focusing on relationship-based service delivery and meeting the credit needs of its local communities.

The institution's charter allows it to offer a full range of banking services while maintaining a primary emphasis on promoting home ownership through mortgage lending products.

Question 8

What is El Dorado Savings Bank's financial performance?

Accepted Answer

El Dorado Savings Bank exhibits strong financial performance and stability. As of December 31, 2024, the bank reported $2.4 billion in total assets, $2.07 billion in savings deposits, and $309.2 million in capital, representing 12.9% of assets.

The bank recorded after-tax income of $23.2 million for 2024. According to FDIC data, the bank maintains a Return on Assets (ROA) of 0.97% and Return on Equity (ROE) of 7.56%, both indicating solid profitability.

The bank demonstrates exceptional asset quality with only 13 of 4,039 loans serviced being 60 days or more past due as of December 31, 2024, and zero foreclosed properties on the books. With liquidity of $697 million and a Texas Ratio of 0.38%, the bank shows extremely low risk of failure and strong capacity to weather economic challenges.

Question 9

What is El Dorado Savings Bank's Community Reinvestment Act rating?

Accepted Answer

El Dorado Savings Bank has received a "Satisfactory" rating on its most recent Community Reinvestment Act (CRA) performance evaluations by the Office of the Comptroller of the Currency. The bank's CRA performance demonstrates good responsiveness to credit needs across its assessment areas.

The bank received "High Satisfactory" ratings on both its Lending Test and Investment Test, reflecting excellent distribution of loans among individuals of different income levels and good levels of community development investments. The Service Test received a "Low Satisfactory" rating, with retail delivery systems reasonably accessible to communities of different income levels.

The evaluation noted that El Dorado Savings Bank, as a portfolio lender, offers flexible underwriting standards to qualify creditworthy borrowers who may not meet traditional guidelines, contributing positively to meeting community credit needs.

El Dorado Savings Bank

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About El Dorado Savings Bank in the United States