Bank of Wiggins

Headquarters

109 West Pine Avenue
Wiggins, MS 39577
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 Wiggins is an FDIC insured institution located in Wiggins, MS. It was founded in 1916 and has approximately $0.17 billion in assets. Customers can open an account at one of its 3 branches.

FDIC Insured Yes
FDIC Certificate # 8250
Date Established 1916
Assets $ 169.12 million
Loans $ 89.22 million
Deposits $ 137.11 million
Capital $ 30.05 million
 

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

Deposit Rates - September 25, 2020

Your Current Location: Virginia, VA 20146


Loan Rates - September 25, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Bank of Wiggins

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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Featured - Virginia Home Equity Line Of Credit Rates 2020

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Note to Bank of Wiggins
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Branches

Bank of Wiggins 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 Wiggins Locations


Financial Details

Bank of Wiggins Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Bank of Wiggins. 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 Wiggins U.S. Bank Average
7.18% 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 Wiggins had $709,000 in non-current loans and $1,548,000 in owned real estate. To cover these potential losses it had $30,051,000 in equity and $1,398,000 in loans loss reserves. That gives it a Texas Ratio of 7.18%.

Return on Equity
Bank of Wiggins U.S. Bank Average
4.05% 7.80%

Bank of Wiggins has a Return on Equity of 4.05% 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 Wiggins U.S. Bank Average
17.77% 12.68%

Bank of Wiggins has a Capitalization of 17.77% 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 Wiggins Balance Sheet Analysis

As of March 31, 2020, Bank of Wiggins had assets of $169,121,000, loans of $89,219,000, and deposits of $137,110,000. 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 $ 8.27 million
Interest-bearing balances $ 3.92 million
Total securities $ 57.15 million
Federal funds sold and reverse repurchase $ 3.05 million
Net loans and leases $ 89.22 million
Loan loss allowance $ 1.40 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.55 million
Goodwill and other intangibles N.A.
All other assets $ 6.85 million
     Total Assets $ 139.07 million
LIABILITIES
Total deposits $ 137.11 million
      Interest-bearing deposits $ 98.57 million
      Deposits held in domestic offices $ 137.11 million
      % insured (estimated) 90.32%
Federal funds purchased and repurchase agreements $ 1.18 million
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 0.79 million
      Total Liabilities $ 139.07 million
      Shareholders’ Equity $ 30.05 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 1.73 million
Total Interest Expense $ 0.29 million
Net interest income $ 1.45 million
Provision for loan and lease losses $ 0.01 million
Total non interest income $ 0.35 million
Total non interest expense $ 1.41 million
Pre-tax Net Operating Income $ 0.37 million

Bank Loan Profile?

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

Compared to other banks in Mississippi, Bank of Wiggins has a significantly higher percent of Construction and Development Loans 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 31.83
Multifamily
Mortgages
0.00
Credit Card Loans 0.00
Consumer Auto Loans 2.71
Small Business Loans 0.00
Construction and Development Loans 15.09
Commercial Real Estate 20.39
Commercial and Industrial Loans 16.11
Farm Loans 2.17

Frequently Asked Questions About Bank Of Wiggins

Branches and Savings

Is Bank Of Wiggins FDIC insured?

Yes. It is covered under FDIC Certificate #8250.

Why does Bank Of Wiggins 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 Wiggins CD rates not competitive?

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

Is Bank Of Wiggins a commercial bank?

Yes

Where are Bank Of Wiggins locations?

See branch locations nearby.

Is Bank Of Wiggins open on Saturdays?

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Are Bank Of Wiggins ATMs Open 24/7?

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Does Bank Of Wiggins require US citizenship to open account?

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Products

Does Bank Of Wiggins offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Bank Of Wiggins offer personal loans?

Compare personal loan rates here.

Does Bank Of Wiggins offer student loans?

Will Bank Of Wiggins cash a check?

Will Bank Of Wiggins redeem a savings bond?

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Does Bank Of Wiggins do currency exchange?

Background on The Bank

Who owns Bank Of Wiggins?

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