Bank of the Carolinas

Bank of the Carolinas Locations
135 Boxwood Village Drive
Mocksville, NC 27028
1-877-751-5755
www.bankofthecarolinas.com

Bank of the Carolinas is headquartered in Mocksville and is the 35th largest bank in the state of North Carolina. It is also the 1,343rd largest bank in the nation. It was established in 1998 and as of September of 2011, it had grown to 114 employees at 10 locations. Bank of the Carolinas has a 2-star health rating.

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4.00% Money Market Account Guaranteed to 6/30/09 at Bank of the Carolinas - 7/15/2008

Bank of the Carolinas is offering 4.00% APY on its money market account on balances over $10,000. The especially nice feature is that the yield is guaranteed through June 30, 2009. There's a $5/month fee for balances under $1,000. The yield for balances...

4.00% Reward Checking Account at Bank of the Carolinas - 7/15/2008

Update 6/27/09: The top rate has fallen to 4.00% APY. Refer to the bottom of the post for the rate history.Bank of the Carolinas is offering a reward checking account called Free Shine Checking that pays 4.00% APY on balances up to $25,000 (1.01% for...



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Bank of the Carolinas Checking Account Rates

ApyMinMaxProduct
1.25%-$25kShine Checking

Rates updated: 2/11/2012

Data for Q3 2011


Institution Statistics


Bank of the Carolinas
FDIC Certificate #34903
BankRate ReportView
Year Established1998
Employees114
Primary RegulatorFDIC

Assets and Liabilities

Assets$505.17 million
Loans$316.07 million
Deposits$418.14 million
Equity Capital$30.12 million
Loan Loss Allowance$8.69 million
Unbacked Noncurrent Loans$19.12 million
Real Estate Owned$9.83 million

Historic Data - September 2010

Assets$534.88 million
Equity Capital$51.69 million
Loan Loss Allowance$6.34 million
Unbacked Noncurrent Loans$11.63 million
Real Estate Owned$8.57 million

Profit Margin - Quarterly

Net Interest Margin2.98%
Return on Assets-4.96%
Return on Equity-65.14%
Interest Income$15.88 million

Institution Health


Overall Score:
2 out of 5
2
Texas Ratio2
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 September 30, 2011 Bank of the Carolinas had $28.94 million in non-current loans and owned real-estate with $38.81 million in equity and loan loss allowances on hand to cover it. This gives Bank of the Carolinas a Texas Ratio of 74.57% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend2
The Texas Ratio for Bank of the Carolinas increased slightly from 34.82% as of September 30, 2010 to 74.57% as of September 30, 2011, resulting in a negative change of 114.16%. This indicates that the balance sheet and financial strength for Bank of the Carolinas has declined slightly in recent periods.
Deposit Growth3
In the past year, Bank of the Carolinas has increased its total deposits by $2.22 million, resulting in 0.53% 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.
Capitalization2
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 $505.17 million in assets with $38.81 million in equity, resulting in a capitalization level of 7.68%, which is below average.
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