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Overview / Commentary
828-456-3006
P O Box 89
Waynesville, NC 28786

OldTown Bank is headquartered in Waynesville and is the 61st largest bank in the state of North Carolina. It is also the 4,696th largest bank in the nation. It was established in 2007 and as of December of 2013, 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.

Reviews (1)

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%.



Health

Data for Q4 2013

Institution Health

C+

Texas Ratio

GRADE:
C

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 December 31, 2013 OldTown Bank had $3.54 million in non-current loans and owned real-estate with $10.13 million in equity and loan loss allowances on hand to cover it. This gives OldTown Bank a Texas Ratio of 34.98% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C-

The Texas Ratio for OldTown Bank increased slightly from 20.03% as of December 31, 2012 to 34.98% as of December 31, 2013, resulting in a negative change of 74.66%. This indicates that the balance sheet and financial strength for OldTown Bank has declined slightly in recent periods.

Deposit Growth

GRADE:
A+

In the past year, OldTown Bank has increased its total deposits by $8.98 million, resulting in 11.9% 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.

Capitalization

GRADE:
B

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 $102.34 million in assets with $10.13 million in equity, resulting in a capitalization level of 9.90%, which is above average.

Institution Statistics

Overall
FDIC Certificate #58561
Year Established2007
Employees16
Primary RegulatorFDIC
Assets and Liabilities
Assets$102.34 million
Loans$54.12 million
Deposits$84.41 million
Equity Capital$8.77 million
Loan Loss Allowance$1.37 million
Unbacked Noncurrent Loans$2.02 million
Real Estate Owned$1.53 million
Historic Data - December 2012
Assets$91.45 million
Equity Capital$9.71 million
Loan Loss Allowance$1.53 million
Unbacked Noncurrent Loans$2.02 million
Real Estate Owned$330,000
Profit Margin - Quarterly
Net Interest Margin3.39%
Return on Assets0.46%
Return on Equity4.73%
Interest Income$3.78 million
Rates

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

OldTown Bank Savings Account Rates

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

OldTown Bank Money Market Rates

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

OldTown Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.75%--IOLTA
0.35%--Freedom Checking
0.25%--Business Int Checking

OldTown Bank CD Rates

DetailsAPYMINMAXPRODUCT
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

DetailsAPYMINMAXPRODUCT
1.55%$1k-60 Month IRA (Traditional,Roth,CESA)
1.10%$1k-48 Month IRA (Traditional,Roth,CESA)
1.00%$1k-36 Month IRA (Traditional,Roth,CESA)
0.80%$1k-24 Month IRA (Traditional,Roth,CESA)
0.70%$1k-18 Month Variable IRA (Traditional,Roth,CESA)
0.70%$400-18 Month IRA (Traditional,Roth,CESA)
0.60%$1k-12 Month IRA (Traditional,Roth,CESA)
0.50%$400-6 Month IRA (Traditional,Roth,CESA)
Locations


OldTown Bank Locations
Oldtown Bank2045 South Main StreetWaynesville, NC 28786