Covenant Bank & Trust

Headquarters

122 Highway 95
Rock Spring, GA 30739
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.95% →
1-Year CD N.A. 1.01% →
2-Year CD N.A. 0.95% →
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

Covenant Bank & Trust is an FDIC insured institution located in Rock Spring, GA. It was founded in 2006 and has approximately $0.1 billion in assets.

FDIC Insured Yes
FDIC Certificate # 58068
Date Established 2006
Assets $ 95.73 million
Loans $ 67.64 million
Deposits $ 90.63 million
Capital $ 1.88 million
 

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

Deposit Rates - October 28, 2020

Your Current Location: Virginia, VA 20146


Loan Rates - October 28, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Covenant Bank & Trust

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

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
Rocket Mortgage
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.674% 2.625% 0.63 $1,595 $1,005 Learn More

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
See Table
2.240 %
$0 Learn More
More Info

Note to Covenant Bank & Trust
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Branches

Covenant Bank & Trust 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 & Trust Locations


Financial Details

Covenant Bank & Trust Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Covenant Bank & Trust. 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 & Trust U.S. Bank Average
560.51% 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, Covenant Bank & Trust had $8,818,000 in non-current loans and $6,512,000 in owned real estate. To cover these potential losses it had $1,882,000 in equity and $853,000 in loans loss reserves. That gives it a Texas Ratio of 560.51%.

Return on Equity
Covenant Bank & Trust U.S. Bank Average
-68.62% 7.80%

Covenant Bank & Trust has a Return on Equity of -68.62% 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
Covenant Bank & Trust U.S. Bank Average
1.97% 12.68%

Covenant Bank & Trust has a Capitalization of 1.97% 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.

Covenant Bank & Trust Balance Sheet Analysis

As of December 31, 2011, Covenant Bank & Trust had assets of $95,725,000, loans of $67,639,000, and deposits of $90,632,000. 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 $ 67.64 million
Loan loss allowance $ 0.85 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 6.51 million
Goodwill and other intangibles N.A.
All other assets N.A.
     Total Assets N.A.
LIABILITIES
Total deposits $ 90.63 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 $ 95.73 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 Covenant Bank & Trust’s loan portfolio are 1-4 Family Residential Loans, Multifamily Mortgages, and Credit Card Loans.

Compared to other banks, Covenant Bank & Trust’s loan portfolio does not show any specific loan specialty.

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 0.00
Multifamily
Mortgages
0.00
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 0.00
Commercial Real Estate 0.00
Commercial and Industrial Loans 0.00
Farm Loans 0.00

Frequently Asked Questions About Covenant Bank & Trust

Branches and Savings

Is Covenant Bank & Trust FDIC insured?

Yes. It is covered under FDIC Certificate #58068.

Why does Covenant Bank & Trust 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 & Trust CD rates not competitive?

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

Is Covenant Bank & Trust a commercial bank?

Yes

Where are Covenant Bank & Trust locations?

See branch locations nearby.

Is Covenant Bank & Trust open on Saturdays?

Is Covenant Bank & Trust open on Sundays?

What time does Covenant Bank & Trust open?

What time does Covenant Bank & Trust close?

Are Covenant Bank & Trust ATMs Open 24/7?

Do Covenant Bank & Trust ATMs accept cash deposits?

Can Covenant Bank & Trust customers use other ATMs?

Do Covenant Bank & Trust branches have notaries?

Will Covenant Bank & Trust notarize my document?

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

Will the Covenant Bank & Trust branch print checks?

Do Covenant Bank & Trust checks expire?

Does Covenant Bank & Trust require US citizenship to open account?

Can Covenant Bank & Trust close my account?

Does Covenant Bank & Trust Report to credit bureaus?

Does Covenant Bank & Trust Use Equifax?

What is Covenant Bank & Trust's ACH Routing Number?

What is Covenant Bank & Trust's SWIFT code?

Products

Does Covenant Bank & Trust offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Covenant Bank & Trust offer personal loans?

Compare personal loan rates here.

Does Covenant Bank & Trust offer student loans?

Will Covenant Bank & Trust cash a check?

Will Covenant Bank & Trust redeem a savings bond?

Does Covenant Bank & Trust cash savings bonds?

Will Covenant Bank & Trust cash money orders?

Can Covenant Bank & Trust issue a money order?

Does Covenant Bank & Trust do currency exchange?

Background on The Bank

Who owns Covenant Bank & Trust?

How long has Covenant Bank & Trust been around?

Can Covenant Bank & Trust transfer to other banks?

Does Covenant Bank & Trust have quick pay?

Does Covenant Bank & Trust accept rolled coins?

Will Covenant Bank & Trust accept loose change?

Where is Covenant Bank & Trust headquarters?

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