Genesis Bank

Headquarters

28-30 Main Street
Benoit, MS 38725
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.66% →
1-Year CD N.A. 0.71% →
2-Year CD N.A. 0.81% →
5-Year CD N.A. 1.15% →
30-Year Mortgage N.A. 2.72% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

Genesis Bank is an FDIC insured institution located in Benoit, MS. It was founded in 1904 and has approximately $0.02 billion in assets.

FDIC Insured Yes
FDIC Certificate # 15817
Date Established 1904
Assets $ 21.07 million
Loans $ 5.68 million
Deposits $ 17.13 million
Capital $ 3.88 million
 

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

Deposit Rates - March 2, 2021

Your Current Location: Connecticut, CT 06828

 

Loan Rates - March 2, 2021

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Genesis Bank

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




Featured - Connecticut 30 Year Fixed Mortgage Rates 2021

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2.931% 2.875% 0.75 $1,810 $1,038 Learn More
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Featured - Connecticut Home Equity Line Of Credit Rates 2021

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Note to Genesis Bank
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Branches

Genesis 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:
Fairfield,Connecticut


Genesis Bank Locations


Financial Details

Genesis Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Genesis 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
Genesis Bank U.S. Bank Average
2.25% 6.14%

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 September 30, 2020, Genesis Bank had $89,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $3,878,000 in equity and $74,000 in loans loss reserves. That gives it a Texas Ratio of 2.25%.

Return on Equity
Genesis Bank U.S. Bank Average
0.23% 9.23%

Genesis Bank has a Return on Equity of 0.23% versus the BestCashCow average of 9.23%. 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
Genesis Bank U.S. Bank Average
18.4% 12.07%

Genesis Bank has a Capitalization of 18.4% versus the BestCashCow average of 12.07. 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.

Genesis Bank Balance Sheet Analysis

As of September 30, 2020, Genesis Bank had assets of $21,071,000, loans of $5,678,000, and deposits of $17,125,000. 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

September 30, 2020
ASSETS
Cash & Balances due from depository institutions $ 2.67 million
Interest-bearing balances $ 0.99 million
Total securities $ 4.47 million
Federal funds sold and reverse repurchase $ 8.00 million
Net loans and leases $ 5.68 million
Loan loss allowance $ 0.07 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 0.16 million
     Total Assets $ 17.19 million
LIABILITIES
Total deposits $ 17.13 million
      Interest-bearing deposits $ 9.36 million
      Deposits held in domestic offices $ 17.13 million
      % insured (estimated) 75.52%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 0.07 million
      Total Liabilities $ 17.19 million
      Shareholders’ Equity $ 3.88 million

Summary Income Statement

September 30, 2020
INCOME AND EXPENSES
Total Interest Income $ 0.46 million
Total Interest Expense $ 0.04 million
Net interest income $ 0.42 million
Provision for loan and lease losses $ 0.05 million
Total non interest income $ 0.08 million
Total non interest expense $ 0.45 million
Pre-tax Net Operating Income $ 0.01 million

Bank Loan Profile?

The top three loan types in Genesis Bank’s loan portfolio are Commercial Real Estate, Farm Loans, and Consumer Auto Loans.

Compared to other banks in Mississippi, Genesis Bank has a significantly higher percent of Consumer Auto Loans, Farm 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 0.53
Multifamily
Mortgages
0.00
Credit Card Loans 0.00
Consumer Auto Loans 10.97
Small Business Loans 0.00
Construction and Development Loans 0.00
Commercial Real Estate 22.84
Commercial and Industrial Loans 7.40
Farm Loans 17.91

Frequently Asked Questions About Genesis Bank

Branches and Savings

Is Genesis Bank FDIC insured?

Yes. It is covered under FDIC Certificate #15817.

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

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

Why are Genesis Bank CD rates not competitive?

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

Is Genesis Bank a commercial bank?

Yes

Where are Genesis Bank locations?

See branch locations nearby.

Is Genesis Bank open on Saturdays?

Is Genesis Bank open on Sundays?

What time does Genesis Bank open?

What time does Genesis Bank close?

Are Genesis Bank ATMs Open 24/7?

Do Genesis Bank ATMs accept cash deposits?

Can Genesis Bank customers use other ATMs?

Do Genesis Bank branches have notaries?

Will Genesis Bank notarize my document?

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

Will the Genesis Bank branch print checks?

Do Genesis Bank checks expire?

Does Genesis Bank require US citizenship to open account?

Can Genesis Bank close my account?

Does Genesis Bank Report to credit bureaus?

Does Genesis Bank Use Equifax?

What is Genesis Bank's ACH Routing Number?

What is Genesis Bank's SWIFT code?

Products

Does Genesis Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Genesis Bank offer personal loans?

Compare personal loan rates here.

Does Genesis Bank offer student loans?

Will Genesis Bank cash a check?

Will Genesis Bank redeem a savings bond?

Does Genesis Bank cash savings bonds?

Will Genesis Bank cash money orders?

Can Genesis Bank issue a money order?

Does Genesis Bank do currency exchange?

Background on The Bank

Who owns Genesis Bank?

How long has Genesis Bank been around?

Can Genesis Bank transfer to other banks?

Does Genesis Bank have quick pay?

Does Genesis Bank accept rolled coins?

Will Genesis Bank accept loose change?

Where is Genesis Bank headquarters?

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