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Overview / Commentary
P O Box 89
Waynesville, NC 28786

OldTown Bank is headquartered in Waynesville and is the 60th largest bank in the state of North Carolina. It is also the 4,582nd largest bank in the nation. It was established in 2007 and as of March of 2014, it had grown to 18 employees at 1 location. OldTown Bank's money market rates are 14% higher than the national average, and it has a B health rating.

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Money Market Rate

The Money Market rate of 1.15% is only available for residents of Haywood and surrounding counties.  Otherwise the rate is .85%.


Data for Q1 2014

Institution Health


Texas Ratio


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 OldTown Bank had $3.07 million in non-current loans and owned real-estate with $10.83 million in equity and loan loss allowances on hand to cover it. This gives OldTown Bank a Texas Ratio of 28.33% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for OldTown Bank experienced no significant changes from 25.19% as of March 31, 2013 to 28.33% as of March 31, 2014, resulting in a negative change of 12.46%. This indicates that the balance sheet and financial strength for OldTown Bank has had no significant changes in recent periods.

Deposit Growth


In the past year, OldTown Bank has increased its total deposits by $11.07 million, resulting in 14.53% 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 OldTown Bank has shown is excellent.



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. OldTown Bank has $105.88 million in assets with $10.83 million in equity, resulting in a capitalization level of 10.23%, which is above average.

Institution Statistics

FDIC Certificate #58561
Year Established2007
Primary RegulatorFDIC
Assets and Liabilities
Assets$105.88 million
Loans$55.87 million
Deposits$87.26 million
Equity Capital$9.42 million
Loan Loss Allowance$1.41 million
Unbacked Noncurrent Loans$1.21 million
Real Estate Owned$1.86 million
Historic Data - March 2013
Assets$92.39 million
Equity Capital$9.87 million
Loan Loss Allowance$1.53 million
Unbacked Noncurrent Loans$1.21 million
Real Estate Owned$1.29 million
Profit Margin - Quarterly
Net Interest Margin3.59%
Return on Assets0.84%
Return on Equity9.63%
Interest Income$1.02 million

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OldTown Bank Savings Account Rates

0.50%--First Step Savings
0.50%--Statement Savings
0.30%--Business Savings

OldTown Bank Money Market Rates

0.50%$10k-Personal Money Market
0.40%$10k-Commercial Money Market

OldTown Bank Checking Account Rates

0.35%--Freedom Checking
0.25%--Business Int Checking

OldTown Bank CD Rates

1.55%$1k-60 Month CD
1.10%$1k-48 Month CD
1.00%$1k-36 Month CD
0.90%$1k-35 Month Bump CD
0.75%$1k-24 Month CD
0.60%$1k-18 Month CD
0.50%$1k-12 Month CD
0.40%$1k-6 Month CD
0.20%$1k-3 Month CD

OldTown Bank IRA Rates

1.55%$1k-60 Month IRA
1.10%$1k-48 Month IRA
1.00%$1k-36 Month IRA
0.80%$1k-24 Month IRA
0.70%$1k-18 Month Variable IRA
0.70%$400-18 Month IRA
0.60%$1k-12 Month IRA
0.50%$400-6 Month IRA

OldTown Bank Locations
Oldtown Bank2045 South Main StreetWaynesville, NC 28786