1111 Metropolitan Avenue Suite 100
Charlotte, NC 28204
800-592-6248
www.newdominiondirect.com



NewDominion Bank is headquartered in Charlotte and is the 37th largest bank in the state of North Carolina. It is also the 1,625th largest bank in the nation. It was established in 2005 and as of September of 2011, it had grown to 45 employees at 4 locations. NewDominion Bank's money market rates are 48% higher than the national average, but it has a 1-star health rating.

NewDominion Bank Routing Number: 053012582

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See Rates for: Checking | Savings | Money Market | CD | IRA

NewDominion Bank Checking Account Rates

ApyMinMaxProduct
0.25%$1,500-Commercial NOW Account
0.15%$1,500-FirstRate Checking

NewDominion Bank Savings Account Rates

ApyMinMaxProduct
0.75%--IOLTA
0.75%--Premium Saver
0.55%--Holiday Saver
0.55%--Vacation Saver
0.55%--NDB Saver

NewDominion Bank Money Market Rates

ApyMinMaxProduct
0.65%$3k-High Yield Money Market
0.65%$100k-Commercial Money Market

NewDominion Bank CD Rates

ApyMinMaxProduct
1.25%$1k-60 Month Fixed Rate CD
1.00%$1k-36 Month Fixed Rate CD
1.00%$1k-48 Month Fixed Rate CD
1.00%$1k-2 Year Variable Rate CD
0.90%$1k-12 Month Fixed Rate CD
0.90%$1k-18 Month Fixed Rate CD
0.90%$1k-24 Month Fixed Rate CD
0.90%$1k-30 Month Fixed Rate CD
0.90%$1k-15 Month Value Plus CD
0.50%$1k-9 Month Fixed Rate CD
0.30%$1k-6 Month Fixed Rate CD
0.25%$1k-3 Month Fixed Rate CD

NewDominion Bank IRA Rates

ApyMinMaxProduct
1.25%$500-60 Month IRA
1.25%$500-60 Month Roth IRA
1.00%$500-36 Month IRA
1.00%$500-48 Month IRA
1.00%$500-36 Month Roth IRA
1.00%$500-48 Month Roth IRA
0.90%$500-12 Month IRA
0.90%$500-24 Month IRA
0.90%$500-12 Month Roth IRA
0.90%$500-24 Month Roth IRA
0.30%$500-6 Month IRA
0.30%$500-6 Month Roth IRA
0.25%$500-3 Month IRA
0.25%$500-3 Month Roth IRA

Rates updated: 2/11/2012 * Not all products updated

Data for Q3 2011


Institution Statistics


NewDominion Bank
FDIC Certificate #57888
BankRate ReportView
Year Established2005
Employees45
Primary RegulatorFDIC

Assets and Liabilities

Assets$404.45 million
Loans$235.88 million
Deposits$361.17 million
Equity Capital$18.45 million
Loan Loss Allowance$10.33 million
Unbacked Noncurrent Loans$23.51 million
Real Estate Owned$19.50 million

Historic Data - September 2010

Assets$572.53 million
Equity Capital$26.98 million
Loan Loss Allowance$11.87 million
Unbacked Noncurrent Loans$37.67 million
Real Estate Owned$9.35 million

Profit Margin - Quarterly

Net Interest Margin2.46%
Return on Assets0.44%
Return on Equity10.76%
Interest Income$12.47 million

Institution Health


Overall Score:
1 out of 5
1
Texas Ratio1
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 NewDominion Bank had $43.01 million in non-current loans and owned real-estate with $28.78 million in equity and loan loss allowances on hand to cover it. This gives NewDominion Bank a Texas Ratio of 149.43% which is poor. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend2
The Texas Ratio for NewDominion Bank increased slightly from 121.04% as of September 30, 2010 to 149.43% as of September 30, 2011, resulting in a negative change of 23.45%. This indicates that the balance sheet and financial strength for NewDominion Bank has declined slightly in recent periods.
Deposit Growth1
In the past year, NewDominion Bank has decreased its total deposits by -$143.91 million, resulting in -28.49% 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 NewDominion Bank has shown is poor.
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. NewDominion Bank has $404.45 million in assets with $28.78 million in equity, resulting in a capitalization level of 7.12%, which is below average.
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