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Overview / Commentary
P O Box 89
Waynesville, NC 28786

OldTown Bank is headquartered in Waynesville and is the 56th largest bank in the state of North Carolina. It is also the 4,524th largest bank in the nation. It was established in 2007 and as of June of 2014, it had grown to 16 employees at 1 location. OldTown Bank's money market rates are 14% higher than the national average, and it has a C+ 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 Q2 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 June 30, 2014 OldTown Bank had $3.59 million in non-current loans and owned real-estate with $11.4 million in equity and loan loss allowances on hand to cover it. This gives OldTown Bank a Texas Ratio of 31.47% 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 increased slightly from 25.27% as of June 30, 2013 to 31.47% as of June 30, 2014, resulting in a negative change of 24.54%. This indicates that the balance sheet and financial strength for OldTown Bank has declined slightly in recent periods.

Deposit Growth


In the past year, OldTown Bank has increased its total deposits by $7.87 million, resulting in 9.66% 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 $106.47 million in assets with $11.4 million in equity, resulting in a capitalization level of 10.70%, which is above average.

Institution Statistics

FDIC Certificate #58561
Year Established2007
Primary RegulatorFDIC
Assets and Liabilities
Assets$106.47 million
Loans$57.29 million
Deposits$89.37 million
Equity Capital$9.92 million
Loan Loss Allowance$1.48 million
Unbacked Noncurrent Loans$1.73 million
Real Estate Owned$1.86 million
Historic Data - June 2013
Assets$97.05 million
Equity Capital$9.23 million
Loan Loss Allowance$1.54 million
Unbacked Noncurrent Loans$1.73 million
Real Estate Owned$1.71 million
Profit Margin - Quarterly
Return on Assets0.72%
Return on Equity8.03%
Interest Income$2.09 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