Bank of New Mexico

Headquarters

824 West Santa Fe Avenue
Grants, NM 87020
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 1.05% →
1-Year CD N.A. 0.95% →
2-Year CD N.A. 1.05% →
5-Year CD N.A. 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Bank of New Mexico is an FDIC insured institution located in Grants, NM. It was founded in 1947 and has approximately $0.15 billion in assets. Customers can open an account at one of its 5 branches.

FDIC Insured Yes
FDIC Certificate # 16590
Date Established 1947
Assets $ 154.93 million
Loans $ 70.46 million
Deposits $ 139.67 million
Capital $ 14.74 million
 

For a more detailed analysis of Bank of New Mexico's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - September 19, 2020

Your Current Location: Virginia, VA 20146


Loan Rates - September 19, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Bank of New Mexico

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




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Featured - Virginia Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
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Note to Bank of New Mexico
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Branches

Bank of New Mexico branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Bank of New Mexico Locations


Financial Details

Bank of New Mexico Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Bank of New Mexico. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Bank of New Mexico U.S. Bank Average
7.22% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, Bank of New Mexico had $1,084,000 in non-current loans and $66,000 in owned real estate. To cover these potential losses it had $14,739,000 in equity and $1,189,000 in loans loss reserves. That gives it a Texas Ratio of 7.22%.

Return on Equity
Bank of New Mexico U.S. Bank Average
12.11% 7.80%

Bank of New Mexico has a Return on Equity of 12.11% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Bank of New Mexico U.S. Bank Average
9.51% 12.68%

Bank of New Mexico has a Capitalization of 9.51% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Bank of New Mexico Balance Sheet Analysis

As of June 30, 2018, Bank of New Mexico had assets of $154,933,000, loans of $70,461,000, and deposits of $139,670,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 21.14 million
Interest-bearing balances $ 17.25 million
Total securities $ 56.19 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 70.46 million
Loan loss allowance $ 1.19 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.07 million
Goodwill and other intangibles $ 2.12 million
All other assets $ 1.02 million
     Total Assets $ 140.19 million
LIABILITIES
Total deposits $ 139.67 million
      Interest-bearing deposits $ 110.47 million
      Deposits held in domestic offices $ 139.67 million
      % insured (estimated) 76.89%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 0.52 million
      Total Liabilities $ 140.19 million
      Shareholders’ Equity $ 14.74 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 2.90 million
Total Interest Expense $ 0.15 million
Net interest income $ 2.75 million
Provision for loan and lease losses $ 0.08 million
Total non interest income $ 0.67 million
Total non interest expense $ 2.44 million
Pre-tax Net Operating Income $ 0.90 million

Bank Loan Profile?

The top three loan types in Bank of New Mexico’s loan portfolio are Commercial Real Estate, Small Business Loans, and Commercial and Industrial Loans.

Compared to other banks in New Mexico, Bank of New Mexico has a significantly higher percent of Consumer Auto Loans, Small Business Loans, Commercial Real Estate on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 13.73
Multifamily
Mortgages
5.57
Credit Card Loans 0.00
Consumer Auto Loans 2.56
Small Business Loans 40.56
Construction and Development Loans 5.88
Commercial Real Estate 56.00
Commercial and Industrial Loans 16.59
Farm Loans 0.11

Frequently Asked Questions About Bank Of New Mexico

Branches and Savings

Is Bank Of New Mexico FDIC insured?

Yes. It is covered under FDIC Certificate #16590.

Why does Bank Of New Mexico pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Bank Of New Mexico CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Bank Of New Mexico a commercial bank?

Yes

Where are Bank Of New Mexico locations?

See branch locations nearby.

Is Bank Of New Mexico open on Saturdays?

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Are Bank Of New Mexico ATMs Open 24/7?

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What address for Bank Of New Mexico should I put for incoming ACH transfers?

Will the Bank Of New Mexico branch print checks?

Do Bank Of New Mexico checks expire?

Does Bank Of New Mexico require US citizenship to open account?

Can Bank Of New Mexico close my account?

Does Bank Of New Mexico Report to credit bureaus?

Does Bank Of New Mexico Use Equifax?

What is Bank Of New Mexico's ACH Routing Number?

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Products

Does Bank Of New Mexico offer mortgages?

Compare mortgage rates here.

Does Bank Of New Mexico offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Bank Of New Mexico offer personal loans?

Compare personal loan rates here.

Does Bank Of New Mexico offer student loans?

Will Bank Of New Mexico cash a check?

Will Bank Of New Mexico redeem a savings bond?

Does Bank Of New Mexico cash savings bonds?

Will Bank Of New Mexico cash money orders?

Can Bank Of New Mexico issue a money order?

Does Bank Of New Mexico do currency exchange?

Background on The Bank

Who owns Bank Of New Mexico?

How long has Bank Of New Mexico been around?

Can Bank Of New Mexico transfer to other banks?

Does Bank Of New Mexico have quick pay?

Does Bank Of New Mexico accept rolled coins?

Will Bank Of New Mexico accept loose change?

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