Newton Federal Bank

Overview / Commentary
3175 Highway 278
Covington, GA 30014

Newton Federal Bank is headquartered in Covington and is the 21st largest bank in the state of Georgia. It is also the 1,204th largest bank in the nation. It was established in 1928 and as of June of 2021, it had grown to 87 employees at 3 locations. Newton Federal Bank has an A health rating.


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Data as of Q2 2021

Capitalization grade does not factor in PPP loans and the use of the PPP Liquidity Facility.
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Health Grade Components

FDIC Certificate #29510
Year Established1928
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.13%
Return on Equity - YTD9.84%
Annual Interest Income$13.0MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$786.7MM$909.9MM
LoansQ2 2021vs Q2 2020$582.3MM$636.1MM
DepositsQ2 2021vs Q2 2020$626.0MM$629.9MM
Equity CapitalQ2 2021vs Q2 2020$99.8MM$78.9MM
Loan Loss AllowanceQ2 2021vs Q2 2020$7.4MM$5.0MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$4.6MM$4.0MM
Real Estate OwnedQ2 2021vs Q2 2020$0$1.2MM
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Newton Federal Bank Savings Account Rates

0.50%*-$50kKasasa Saver
OTHER TIERS: 0.25% $50k+

Newton Federal Bank Checking Account Rates

1.00%*-$40kKasasa Cash Checking
OTHER TIERS: 0.25% $40k+

Newton Federal Bank Locations
Affinity Bank Branch400 Galleria Parkway Se, Suite 900Atlanta, GA 30339

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