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Overview / Commentary
575-546-2691
300 South Gold Avenue
Deming, NM 88030

First New Mexico Bank is headquartered in Deming and is the 19st largest bank in the state of New Mexico. It is also the 2,884th largest bank in the nation. It was established in 1962 and as of March of 2014, it had grown to 41 employees at 4 locations. First New Mexico Bank has a A health rating.

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Health

Data for Q1 2014

Institution Health

A

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 First New Mexico Bank had $1.36 million in non-current loans and owned real-estate with $24.51 million in equity and loan loss allowances on hand to cover it. This gives First New Mexico Bank a Texas Ratio of 5.54% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for First New Mexico Bank experienced no significant changes from 2.30% as of March 31, 2013 to 5.54% as of March 31, 2014, resulting in a negative change of 140.96%. This indicates that the balance sheet and financial strength for First New Mexico Bank has had no significant changes in recent periods.

Deposit Growth

GRADE:
B+

In the past year, First New Mexico Bank has increased its total deposits by $4.57 million, resulting in 2.47% 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 First New Mexico Bank has shown is above average.

Capitalization

GRADE:
A

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. First New Mexico Bank has $215.36 million in assets with $24.51 million in equity, resulting in a capitalization level of 11.38%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #18514
Year Established1962
Employees41
Primary RegulatorFDIC
Assets and Liabilities
Assets$215.36 million
Loans$68.62 million
Deposits$189.51 million
Equity Capital$23.43 million
Loan Loss Allowance$1.08 million
Unbacked Noncurrent Loans$1.15 million
Real Estate Owned$204,000
Historic Data - March 2013
Assets$209.45 million
Equity Capital$22.19 million
Loan Loss Allowance$944,000
Unbacked Noncurrent Loans$1.15 million
Real Estate Owned$127,000
Profit Margin - Quarterly
Net Interest Margin3.26%
Return on Assets1.05%
Return on Equity9.73%
Interest Income$1.83 million
Rates

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Locations


First New Mexico Bank Locations
Motor Branch1501 South Columbus HighwayDeming, NM 88030
Columbus Branch202 S MainColumbus, NM 88029
First New Mexico Bank300 South Gold AvenueDeming, NM 88030
Hatch Branch509 North FranklinHatch, NM 87937