Covenant Bank

7924 Parkway Drive
Leeds, AL 35094

Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 34460
Date Established 1997
Assets $0.06 billion
Loans $0.03 billion
Deposits $0.06 billion
Capital $0.00 billion

Covenant Bank is an FDIC insured institution located in Leeds, AL. It was founded in 1997 and has approximately $0.06 billion in assets.

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

Bank Loan Profile?

The top three loan types in Covenant Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Small Business Loans.

Compared to other banks in Alabama, Covenant Bank has a significantly higher percent of Small Business 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 36.63
Multifamily
Mortgages
0.00
Credit Card Loans 0.00
Consumer Auto Loans 0.16
Small Business Loans 29.04
Construction and Development Loans 4.64
Commercial Real Estate 35.08
Commercial and Industrial Loans 18.17
Farm Loans 0.00

Deposit Rates

Your Current Location: Virginia, VA 20146

CD Rates APY MIN MAX
3 Mo CD 10K
0.50% $500 - Learn MoreShow Less
6 Mo CD 10K
0.75% $500 - Learn MoreShow Less
Savings Rates APY MIN MAX
Fixed IRA Rates APY MIN MAX
Fixed IRA 0K
1.00% $500 - Learn MoreShow Less
MM Rates APY MIN MAX
MM 2.5K
0.10% $2,500 $9,999 Learn MoreShow Less
MM 10K
0.15% $10,000 $49,999 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg 0K
0.05% $500 - Learn MoreShow Less

Loan Rates

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Covenant Bank

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 2017

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
PenFed Credit Union
NMLS ID: 401822
3.832% 3.750% 0.00 $2,500 $1,158 Learn More
Rocket Mortgage
NMLS ID: 3030
4.248% 4.180% 0.50 $2,049 $1,220 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2017

Lender Rate (%) Monthly Payment Learn More
Third Federal Savings & Loan Assoc. of Cleveland 3.240% $217.33 Learn More

Note to Covenant Bank
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Branches

Covenant Bank 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


Covenant Bank Locations

Financial Details

Covenant Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Covenant Bank. 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
Covenant Bank U.S. Bank Average
60.07% 8.45

The Texas Ratio compares the amount of loans at risk and the amount of owned real estate with the amount a bank has on hand to cover any losses. As of June 30, 2017, Covenant Bank had $1,116,000 in non-current loans and $1,590,000 in owned real estate. To cover these potential losses it had $3,480,000 in equity and $1,025,000 in loans loss reserves. That gives it a Texas Ratio of 60.07%. The closer the Texas Ratio is to 100% and over, the less capital and reserves a bank has to absorb its loan losses.

Return on Equity
Covenant Bank U.S. Bank Average
-22.76% 8.58

Covenant Bank has a Return on Equity of -22.76% versus the BestCashCow average of 8.58. 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
Covenant Bank U.S. Bank Average
5.68% 12.11

Covenant Bank has a Capitalization of 5.68% versus the BestCashCow average of 12.11. 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.

Covenant Bank Balance Sheet Analysis

As of June 30, 2017, Covenant Bank had assets of $61,261,000, loans of $31,506,000, and deposits of $57,703,000. 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.

Frequently Asked Questions About Covenant Bank

Branches and Savings

Is Covenant Bank FDIC insured?

Yes. It is covered under FDIC Certificate #34460.

Why does Covenant Bank pay such low interest on savings accounts?

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

Why are Covenant Bank CD rates not competitive?

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

Is Covenant Bank a commercial bank?

Yes

Where are Covenant Bank locations?

See branch locations nearby.

Is Covenant Bank open on Saturdays?

Is Covenant Bank open on Sundays?

What time does Covenant Bank open?

What time does Covenant Bank close?

Are Covenant Bank ATMs Open 24/7?

Do Covenant Bank ATMs accept cash deposits?

Can Covenant Bank customers use other ATMs?

Do Covenant Bank branches have notaries?

Will Covenant Bank notarize my document?

What address for Covenant Bank should I put for incoming ACH transfers?

Will the Covenant Bank branch print checks?

Do Covenant Bank checks expire?

Does Covenant Bank require US citizenship to open account?

Can Covenant Bank close my account?

Does Covenant Bank Report to credit bureaus?

Does Covenant Bank Use Equifax?

What is Covenant Bank's ACH Routing Number?

What is Covenant Bank's SWIFT code?

Products

Does Covenant Bank offer mortgages?

Compare mortgage rates here.

Does Covenant Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Covenant Bank offer personal loans?

Compare personal loan rates here.

Does Covenant Bank offer student loans?

Will Covenant Bank cash a check?

Will Covenant Bank redeem a savings bond?

Does Covenant Bank cash savings bonds?

Will Covenant Bank cash money orders?

Can Covenant Bank issue a money order?

Does Covenant Bank do currency exchange?

Background on The Bank

Who owns Covenant Bank?

How long has Covenant Bank been around?

Can Covenant Bank transfer to other banks?

Does Covenant Bank have quick pay?

Does Covenant Bank accept rolled coins?

Will Covenant Bank accept loose change?

Where is Covenant Bank headquarters?

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