Bank of Anguilla

The Bank of Anguilla is one of the oldest financial institutions in southern Mississippi and is known for its community-based service philosophy, solid financial performance and support of the agricultural economy. Founded in 1904 and headquartered in Anguilla, Mississippi, the bank is owned by the local community and shareholders and is dedicated to providing personalized financial services to the residents of Sharkey and Issaquena counties. Bank of Anguilla, through two branches and a modern digital platform, provides clients with deposits, loans, credit cards and investments, with particular expertise in agricultural lending. The following is a comprehensive analysis of Bank of Anguilla's underlying information, financial health, products and services, fee structure, digital experience, customer service quality, security measures, unique services and market position.

Bank of

Anguilla is a community bank founded in 1904 by a coalition of local businessmen and farmers to support the economic development of the South Delta region of Mississippi. The headquarters is located at 130 Holland Street in Anguilla, Mississippi. Owned by local communities and shareholders, the Bank is an unlisted, non-state-owned, private bank with a mission to provide exceptional financial services to its customers by building relationships of trust, confidence and integrity. The bank is led by CEO Andy Anderson and has an employee size of about 11-50 as of 2023.

Bank of Anguilla's services primarily cover Sharkey and Issaquena counties in Mississippi, which are among the poorest in the United States with a predominantly agricultural economy. The bank has two branches, located in Anguilla City and Rollinsville (Rolling Fork), and offers a wide range of ATM services through the rediATM network for customers to deposit and withdraw money. The bank also serves neighboring Warren, Washington and Yazoo counties, expanding its services with an online banking platform and mobile app to provide customers with a convenient digital financial experience.

Financial Health

of Anguilla's financial health reflects its robustness as a leading community bank in southern Mississippi. The following are the key financial indicators for 2023:

• total assets: approximately US$1.2 billion (about RMB 8.2 billion).

• Net profit: 26.51 million US dollars (about 180 million yuan).

Deposit & Loan Products

Bank of Anguilla offers a wide range of deposit and loan products to meet the financial needs of individuals and businesses.

Deposits:

• demand deposits: such as Newborn Babe Account, which provides an initial deposit of $50 for newborns and encourages savings, with an interest rate of about 0.05%.

• Term Deposits: Fixed interest rates are available with tenors ranging from 1 month to 5 years, with deposit amounts ranging from $1,000 to $2,000,000 and a maximum interest rate of approximately 4.85% p.a. (11 months). Customers can choose to pay interest monthly or at maturity, with 31 days' notice required for early withdrawal, otherwise interest rate adjustments may be faced.

Loans:

• Mortgages: Fixed-rate and variable rate mortgages are available, with a minimum interest rate of about 5.99% (in May 2025, the loan-to-value ratio is ≤70% over LVR), and flexible repayment options such as early repayment or redrawdown.

• Car loans: Interest rates start at 7.99% and can be borrowed up to $100,000, with discounts on green vehicle loans.

• Personal Line of Credit: Interest rates start from 7.99%, which is suitable for consumer needs and supports early repayment.

List of common fees

Bank of Anguilla's fee structure is transparent and includes:

• Account Management Fee: No monthly fee for the underlying savings account, subject to conditions (e.g. student or child account). Other accounts may be charged $5/month.

• Transfer fees: Domestic transfers are usually free, and international transfers cost around $20 (sent in U.S. dollars via online banking).

• Overdraft Fee: Overdraft accounts are charged a daily fee and interest, the exact amount of which is subject to the terms (fee details).

• ATM Interbank Withdrawal Fee: A foreign exchange transaction fee of 2.50 USD may be charged for non-Anguilla bank ATMs and 2.25% for overseas withdrawals.

• Hidden Fee Alert: There may be a minimum balance requirement (below which may be charged $5/month) or an account inactivity fee, and clients should read the account terms (Terms & Conditions) carefully.

Digital service experience

Bank of Anguilla's digital services are centered around its online banking platform and mobile app, available for iOS and Android platforms, with undisclosed user ratings, but feedback shows that they are powerful and easy to use. Core features include:

• bill payment and real-time transfers (both domestic and international transfers are supported).

• Account management (view balances, transaction history, manage cards).

• Investment tool integration (managing investment accounts, viewing market data).

• Apple Pay, Google Pay, and MobilePay are supported, providing fast and secure payment methods.

In terms of technological innovation, the bank has adopted AI-powered virtual assistants to provide quick queries and personalized budget recommendations, and has supported open banking APIs to allow third-party service integration. In 2021, banks introduced automated back-office platforms to reduce manual intervention and improve efficiency.

Quality of customer service

Bank Anguilla provides customer service through multiple channels, ensuring that customers receive support at all times:

• Phone support: Dial +1 (662) 742-2121 and respond 24/7 to emergencies (e.g. lost card).

• Live chat: Live support is available through an online banking platform (online banking).

• Social Media Response: Quickly respond to customer inquiries via Facebook (Bank of Anguilla).

• Branch services: Two branches provide face-to-face support.

In terms of multilingual support, the service is mainly provided in English, and may support Spanish and other languages, which is suitable for cross-border customers.

Safety and Security Measures

Anguilla has a number of measures in place to protect client funds and data:

• Funds are protected by the FDIC up to $250,000. Fraud prevention with real-time transaction monitoring, bank security codes, and Visa Secure, with enhanced anti-fraud education (fraud protection) in 2024.

• Anti-fraud technology: including multi-layered access control, intrusion detection, and security operations center monitoring.

Featured Services & Differentiation

Bank of Anguilla is unique in the Southern Mississippi market with its community-oriented and innovative services:

children's accounts: The Newborn Babe Account provides an initial deposit of $50 for newborns, which can be converted to a Young Investors Club account after age 6 to encourage savings.

• Green financial products: Support green loans and ESG investments, and aim to provide more sustainable financing by 2025.

• Financial Education: Won the ECU Financial Education and Empowerment Award in 2023 to improve customer financial literacy through education programs.

• Community support: Contribute to the local agricultural economy and the development of small and medium-sized enterprises through innovative products and customer-centric service strategies.

Market Position & Accolades

Bank of Anguilla is the only bank in Sharkey and Issaquena counties in Mississippi, with total assets of approximately $1.2 billion in 2023 and a leading market share. Banks dominate the local financial market through their community-oriented operating model and support for the agricultural economy. In 2023, Bank of Anguilla received the ECU Financial Education & Empowerment Award for excellence in improving the financial literacy of its customers.