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877-751-5755
135 Boxwood Village Drive
Mocksville, NC 27028

Bank of the Carolinas is headquartered in Mocksville and is the 30th largest bank in the state of North Carolina. It is also the 1,567th largest bank in the nation. It was established in 1998 and as of December of 2013, it had grown to 101 employees at 8 locations. Bank of the Carolinas has a C+ health rating.

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Health

Data for Q4 2013

Institution Health

C+

Texas Ratio

GRADE:
C

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Bank of the Carolinas had $6.02 million in non-current loans and owned real-estate with $18.91 million in equity and loan loss allowances on hand to cover it. This gives Bank of the Carolinas a Texas Ratio of 31.84% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Bank of the Carolinas decreased dramatically from 53.50% as of December 31, 2012 to 31.84% as of December 31, 2013, resulting in a positive change of 40.48%.This indicates that the balance sheet and financial strength for Bank of the Carolinas has improved dramatically in recent periods.

Deposit Growth

GRADE:
C

In the past year, Bank of the Carolinas has decreased its total deposits by -$6.84 million, resulting in -1.83% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Bank of the Carolinas has shown is average.

Capitalization

GRADE:
F

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Bank of the Carolinas has $426.53 million in assets with $18.91 million in equity, resulting in a capitalization level of 4.43%, which is poor.

Institution Statistics

Overall
FDIC Certificate #34903
Year Established1998
Employees101
Primary RegulatorFDIC
Assets and Liabilities
Assets$426.53 million
Loans$272.50 million
Deposits$366.59 million
Equity Capital$12.89 million
Loan Loss Allowance$6.02 million
Unbacked Noncurrent Loans$4.79 million
Real Estate Owned$1.23 million
Historic Data - December 2012
Assets$437.23 million
Equity Capital$16.86 million
Loan Loss Allowance$6.89 million
Unbacked Noncurrent Loans$4.79 million
Real Estate Owned$4.98 million
Profit Margin - Quarterly
Net Interest Margin2.79%
Return on Assets-0.02%
Return on Equity-0.65%
Interest Income$15.21 million
Rates
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Bank of the Carolinas Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.50%-$25kShine Plus Savings
0.10%--Shine Plus Savings

Bank of the Carolinas Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.80%-$25kShine Checking
0.10%--Shine Checking
Locations


Bank of the Carolinas Locations
Landis Branch105 North Main StreetLandis, NC 28088
Asheboro Branch1107 S Church StAsheboro, NC 27203
Lexington Branch119 West Center StreetLexington, NC 27292
Bank Of The Carolinas135 Boxwood VillageMocksville, NC 27028
Winston Salem Branch3288 Silas Creek ParkwayWinston Salem, NC 27103
Advance Branch352 Highway 801 SouthAdvance, NC 27006
Harrisburg Branch4350 Main StreetHarrisburg, NC 28075
Concord Branch660 Penny Lane, NeConcord, NC 28025