NewDominion Bank

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

OverView
Rates
Health
Reviews

NewDominion Bank is headquartered in Charlotte and is the 37^th largest bank in the state of North Carolina. It is also the 1,625^th 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

1.50% Savings and Money Market Account at newdominionDirect.com (Forum) - 3/6/2010

I've long reported on newdominionDirect.com's CDs, but I just noticed they also have a competitive rate on a savings account and money market account. Both currently have a yield of 1.50% APY which unfortunately is competitive these days. I'll have more a

CD Rates Up at NewDominion Bank - 4.50% 24-Month / 4.25% 12-Month CD - 7/25/2008

NewDominion Bank has increased its CD rates on terms of 9 months and longer. Many of the rates increased by 25 basis points. The 12-month CD yield is now 4.25% APY. The minimum deposit is $3,000. Most of these terms are also available as an IRA CD with...

4.01% 12-Month / 4.35% 24-Month Online CD at NewDominion Bank - 7/7/2008

NewDominion Bank is offering several attractive CD rates. Some of the most competitive include a 4.01% APY 12-month CD and a 4.35% APY 24-month CD. The minimum deposit is $3,000. These are also available as an IRA CD with only a $500 minimum. Below is...

Report an Issue

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

NewDominion Bank Checking Account Rates

Apy	Min	Max	Product
0.25%	$1,500	-	Commercial NOW Account
0.15%	$1,500	-	FirstRate Checking

NewDominion Bank Savings Account Rates

Apy	Min	Max	Product
0.75%	-	-	IOLTA
0.75%	-	-	Premium Saver
0.55%	-	-	Holiday Saver
0.55%	-	-	Vacation Saver
0.55%	-	-	NDB Saver

NewDominion Bank Money Market Rates

Apy	Min	Max	Product
0.65%	$3k	-	High Yield Money Market
0.65%	$100k	-	Commercial Money Market

NewDominion Bank CD Rates

Apy	Min	Max	Product
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

Apy	Min	Max	Product
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 Report	View
Year Established	2005
Employees	45
Primary Regulator	FDIC
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 Margin	2.46%
Return on Assets	0.44%
Return on Equity	10.76%
Interest Income	$12.47 million

Institution Health

Overall Score:

1 out of 5

Texas Ratio
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 Trend
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 Growth
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.
Capitalization
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.