Bank of Virginia

Headquarters

11730 Hull Street Road
Midlothian, VA 23112
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 1.05% →
1-Year CD N.A. 1.05% →
2-Year CD N.A. 1.11% →
5-Year CD N.A. 1.56% →
30-Year Mortgage N.A. 2.88% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Bank of Virginia is an FDIC insured institution located in Midlothian, VA. It was founded in 2004 and has approximately $0.35 billion in assets.

FDIC Insured Yes
FDIC Certificate # 57627
Date Established 2004
Assets $ 353.73 million
Loans $ 250.54 million
Deposits $ 296.76 million
Capital $ 26.25 million
 

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

Deposit Rates - August 14, 2020

Your Current Location: Virginia, VA 20146


Loan Rates - August 14, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Bank of Virginia

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




Featured - Virginia 30 Year Fixed Mortgage Rates 2020

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3.494% 3.375% 1.00 $3,750 $1,106 Learn More
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License#: MC-7051
2.970% 2.900% 0.88 $2,264 $1,041 Learn More
AimLoan.com
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2.914% 2.875% 0.50 $1,250 $1,038 Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

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Bethpage Federal Credit Union
Bethpage Federal Credit Union
3.500 %
$25,000 Learn More
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Third Federal Savings and Loans
Third Federal Savings and Loans
2.990 %
$0 Learn More
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Note to Bank of Virginia
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Branches

Bank of Virginia 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 Virginia Locations


Financial Details

Bank of Virginia Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Bank of Virginia. 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 Virginia U.S. Bank Average
35.89% 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 Virginia had $7,863,000 in non-current loans and $1,885,000 in owned real estate. To cover these potential losses it had $26,245,000 in equity and $915,000 in loans loss reserves. That gives it a Texas Ratio of 35.89%.

Return on Equity
Bank of Virginia U.S. Bank Average
-9.12% 7.80%

Bank of Virginia has a Return on Equity of -9.12% 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 Virginia U.S. Bank Average
7.42% 12.68%

Bank of Virginia has a Capitalization of 7.42% 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 Virginia Balance Sheet Analysis

As of June 30, 2016, Bank of Virginia had assets of $353,731,000, loans of $250,538,000, and deposits of $296,761,000. 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 N.A.
Interest-bearing balances N.A.
Total securities N.A.
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 250.54 million
Loan loss allowance $ 0.92 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.89 million
Goodwill and other intangibles N.A.
All other assets N.A.
     Total Assets N.A.
LIABILITIES
Total deposits $ 296.76 million
      Interest-bearing deposits N.A.
      Deposits held in domestic offices N.A.
      % insured (estimated) 0.00%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities N.A.
      Total Liabilities N.A.
      Shareholders’ Equity $ 353.73 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income N.A.
Total Interest Expense N.A.
Net interest income N.A.
Provision for loan and lease losses N.A.
Total non interest income N.A.
Total non interest expense N.A.
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in Bank of Virginia’s loan portfolio are Commercial Real Estate, Commercial and Industrial Loans, and 1-4 Family Residential Loans.

Compared to other banks in Virginia, Bank of Virginia has a significantly higher percent of Multifamily Mortgages 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 11.63
Multifamily
Mortgages
10.33
Credit Card Loans 0.00
Consumer Auto Loans 0.03
Small Business Loans 9.69
Construction and Development Loans 0.88
Commercial Real Estate 31.43
Commercial and Industrial Loans 13.94
Farm Loans 0.00

Frequently Asked Questions About Bank Of Virginia

Branches and Savings

Is Bank Of Virginia FDIC insured?

Yes. It is covered under FDIC Certificate #57627.

Why does Bank Of Virginia 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 Virginia CD rates not competitive?

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

Is Bank Of Virginia a commercial bank?

Yes

Where are Bank Of Virginia locations?

See branch locations nearby.

Is Bank Of Virginia open on Saturdays?

Is Bank Of Virginia open on Sundays?

What time does Bank Of Virginia open?

What time does Bank Of Virginia close?

Are Bank Of Virginia ATMs Open 24/7?

Do Bank Of Virginia ATMs accept cash deposits?

Can Bank Of Virginia customers use other ATMs?

Do Bank Of Virginia branches have notaries?

Will Bank Of Virginia notarize my document?

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

Will the Bank Of Virginia branch print checks?

Do Bank Of Virginia checks expire?

Does Bank Of Virginia require US citizenship to open account?

Can Bank Of Virginia close my account?

Does Bank Of Virginia Report to credit bureaus?

Does Bank Of Virginia Use Equifax?

What is Bank Of Virginia's ACH Routing Number?

What is Bank Of Virginia's SWIFT code?

Products

Does Bank Of Virginia offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Bank Of Virginia offer personal loans?

Compare personal loan rates here.

Does Bank Of Virginia offer student loans?

Will Bank Of Virginia cash a check?

Will Bank Of Virginia redeem a savings bond?

Does Bank Of Virginia cash savings bonds?

Will Bank Of Virginia cash money orders?

Can Bank Of Virginia issue a money order?

Does Bank Of Virginia do currency exchange?

Background on The Bank

Who owns Bank Of Virginia?

How long has Bank Of Virginia been around?

Can Bank Of Virginia transfer to other banks?

Does Bank Of Virginia have quick pay?

Does Bank Of Virginia accept rolled coins?

Will Bank Of Virginia accept loose change?

Where is Bank Of Virginia headquarters?

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