Overview / Commentary
The Bank of Vernon is headquartered in VERNON and is the 43rd largest bank in the state of Alabama. It is also the 2,298th largest bank in the nation. It was established in 1911 and as of June of 2024, it had grown to 49 employees at 5 locations. The Bank of Vernon has an A+ health rating.
Health
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 51 |
| Year Established | 1911 |
| Employees | 49 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.47% |
| Return on Equity - YTD | 8.69% |
| Annual Interest Income | $10.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $339.4MM$299.9MM |
| Loans | Q2 2024vs Q2 2023 | $219.1MM$198.9MM |
| Deposits | Q2 2024vs Q2 2023 | $279.4MM$250.8MM |
| Equity Capital | Q2 2024vs Q2 2023 | $57.9MM$48.1MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $2.2MM$3.1MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $1.6MM$931K |
| Real Estate Owned | Q2 2024vs Q2 2023 | $240K$0 |