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Overview / Commentary
800-592-6248
1111 Metropolitan Avenue
Charlotte, NC 28204

NewDominion Bank is headquartered in Charlotte and is the 39th largest bank in the state of North Carolina. It is also the 2,324th largest bank in the nation. It was established in 2005 and as of March of 2014, it had grown to 48 employees at 3 locations. NewDominion Bank's money market rates are 59% higher than the national average, but it has a C health rating.

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Health

Data for Q1 2014

Institution Health

C

Texas Ratio

GRADE:
C-

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 NewDominion Bank had $15.48 million in non-current loans and owned real-estate with $22.79 million in equity and loan loss allowances on hand to cover it. This gives NewDominion Bank a Texas Ratio of 67.90% which is below 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 NewDominion Bank decreased dramatically from 165.93% as of March 31, 2013 to 67.90% as of March 31, 2014, resulting in a positive change of 59.08%.This indicates that the balance sheet and financial strength for NewDominion Bank has improved dramatically in recent periods.

Deposit Growth

GRADE:
F

In the past year, NewDominion Bank has decreased its total deposits by -$50.53 million, resulting in -18.09% 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.

Capitalization

GRADE:
C

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 $278.62 million in assets with $22.79 million in equity, resulting in a capitalization level of 8.18%, which is average.

Institution Statistics

Overall
FDIC Certificate #57888
Year Established2005
Employees48
Primary RegulatorFDIC
Assets and Liabilities
Assets$278.62 million
Loans$213.79 million
Deposits$228.77 million
Equity Capital$16.39 million
Loan Loss Allowance$6.40 million
Unbacked Noncurrent Loans$2.52 million
Real Estate Owned$12.96 million
Historic Data - March 2013
Assets$307.27 million
Equity Capital$11.25 million
Loan Loss Allowance$5.79 million
Unbacked Noncurrent Loans$2.52 million
Real Estate Owned$12.82 million
Profit Margin - Quarterly
Net Interest Margin3.5%
Return on Assets0.28%
Return on Equity4.8%
Interest Income$2.77 million
Rates

Always verify rates and promotions with the bank or credit union. We are not NewDominion Bank, we are a rate comparison website and can not provide official rates or promotions.

NewDominion Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.55%--Cash Back Saver - Qualifying
0.35%--Cash Back Saver - Non-Qualifying
0.35%--Holiday Saver
0.35%--Vacation Saver
0.35%--NDB Saver
0.25%--IOLTA Account

NewDominion Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.70%$10k-NDB Money Market
0.55%$100k-Commercial Money Market

NewDominion Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.25%$1,500-Commercial NOW Account
0.15%$100-FirstRate Checking

NewDominion Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.00%$1k-18 Month Fixed Rate CD
0.70%$1k-13 Month Fixed Rate CD
0.65%$1k-24 Month Fixed Rate CD
0.60%$1k-9 Month Fixed Rate CD
0.60%$1k-12 Month Fixed Rate CD
0.50%$1k-30 Month Fixed Rate CD
0.50%$1k-36 Month Fixed Rate CD
0.50%$1k-48 Month Fixed Rate CD
0.50%$1k-60 Month Fixed Rate CD
0.30%$1k-6 Month Fixed Rate CD
0.25%$1k-3 Month Fixed Rate CD

NewDominion Bank IRA Rates

DetailsAPYMINMAXPRODUCT
0.65%$500-24 Month IRA
0.60%$500-12 Month IRA
0.50%$500-36 Month IRA
0.50%$500-48 Month IRA
0.50%$500-60 Month IRA
0.30%$500-6 Month IRA
0.25%$500-3 Month IRA
Locations


NewDominion Bank Locations
Newdominion Bank1111 Metropolitan AvenueCharlotte, NC 28204
Mooresville Office124 Trade Court, Suite AMooresville, NC 28117