LifeStore Bank


205 South Jefferson Avenue
West Jefferson, NC 28694
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.15% 0.95% →
1-Year CD 0.25% 1.01% →
2-Year CD 0.40% 0.95% →
5-Year CD 0.75% 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

LifeStore Bank is an FDIC insured institution located in West Jefferson, NC. It was founded in 1939 and has approximately $0.31 billion in assets. Customers can open an account at one of its 5 branches.

FDIC Insured Yes
FDIC Certificate # 31217
Date Established 1939
Assets $ 314.93 million
Loans $ 186.58 million
Deposits $ 247.10 million
Capital $ 35.57 million

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

Deposit Rates - October 24, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
0.15% $1 - Learn More
Money Market
0.15% $1,000 $19,999 Learn More
Money Market
0.25% $20,000 $49,999 Learn More
3 Mo CD
0.10% $500 - Learn More
6 Mo CD
0.20% $500 - Learn More
Special: 9 Mo CD
0.75% $5,000 - Learn More
12 Mo CD
0.25% $500 - Learn More
Special: 17 Mo CD
0.85% $5,000 - Learn More
18 Mo CD
0.30% $500 - Learn More
24 Mo CD
0.40% $500 - Learn More
30 Mo CD
0.50% $500 - Learn More
36 Mo CD
0.55% $500 - Learn More
48 Mo CD
0.65% $500 - Learn More
60 Mo CD
0.75% $500 - Learn More

Special: 9 Mo FIRA
0.75% $5,000 - Learn MoreShow Less
Special: 17 Mo FIRA
0.85% $5,000 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.15% $1 - Learn MoreShow Less

Loan Rates - October 24, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for LifeStore 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 2020

Lender APR Rate (%) Points Fees Monthly
Learn More
Rocket Mortgage
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More
NMLS ID: 2890
License#: MC-3098
2.575% 2.500% 1.00 $2,470 $988 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 LifeStore Bank
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Financial Details

LifeStore Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of LifeStore Bank. The data is provided by the FDIC. All banks listed on are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
LifeStore Bank U.S. Bank Average
7.61% 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, LifeStore Bank had $1,127,000 in non-current loans and $1,775,000 in owned real estate. To cover these potential losses it had $35,571,000 in equity and $2,566,000 in loans loss reserves. That gives it a Texas Ratio of 7.61%.

Return on Equity
LifeStore Bank U.S. Bank Average
7.31% 7.80%

LifeStore Bank has a Return on Equity of 7.31% 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.

LifeStore Bank U.S. Bank Average
11.29% 12.68%

LifeStore Bank has a Capitalization of 11.29% 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.

LifeStore Bank Balance Sheet Analysis

As of March 31, 2020, LifeStore Bank had assets of $314,927,000, loans of $186,577,000, and deposits of $247,099,000. 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
Cash & Balances due from depository institutions $ 40.50 million
Interest-bearing balances $ 36.80 million
Total securities $ 63.81 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 186.58 million
Loan loss allowance $ 2.57 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.78 million
Goodwill and other intangibles $ 1.05 million
All other assets $ 12.46 million
     Total Assets $ 279.36 million
Total deposits $ 247.10 million
      Interest-bearing deposits $ 204.32 million
      Deposits held in domestic offices $ 247.10 million
      % insured (estimated) 90.33%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 29.00 million
Subordinated debt N.A.
All other liabilities $ 3.26 million
      Total Liabilities $ 279.36 million
      Shareholders’ Equity $ 35.57 million

Summary Income Statement

March 31, 2020
Total Interest Income $ 3.03 million
Total Interest Expense $ 0.73 million
Net interest income $ 2.30 million
Provision for loan and lease losses $ 0.13 million
Total non interest income $ 1.02 million
Total non interest expense $ 2.38 million
Pre-tax Net Operating Income $ 0.82 million

Bank Loan Profile?

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

Compared to other banks in North Carolina, LifeStore 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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 55.29
Credit Card Loans 0.00
Consumer Auto Loans 0.10
Small Business Loans 12.30
Construction and Development Loans 6.95
Commercial Real Estate 25.56
Commercial and Industrial Loans 5.37
Farm Loans 0.18

Frequently Asked Questions About Lifestore Bank

Branches and Savings

Is Lifestore Bank FDIC insured?

Yes. It is covered under FDIC Certificate #31217.

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

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

Why are Lifestore Bank CD rates not competitive?

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

Is Lifestore Bank a commercial bank?


Where are Lifestore Bank locations?

See branch locations nearby.

Is Lifestore Bank open on Saturdays?

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Are Lifestore Bank ATMs Open 24/7?

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Will Lifestore Bank notarize my document?

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

Will the Lifestore Bank branch print checks?

Do Lifestore Bank checks expire?

Does Lifestore Bank require US citizenship to open account?

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Does Lifestore Bank Use Equifax?

What is Lifestore Bank's ACH Routing Number?

What is Lifestore Bank's SWIFT code?


Does Lifestore Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Lifestore Bank offer personal loans?

Compare personal loan rates here.

Does Lifestore Bank offer student loans?

Will Lifestore Bank cash a check?

Will Lifestore Bank redeem a savings bond?

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Background on The Bank

Who owns Lifestore Bank?

How long has Lifestore Bank been around?

Can Lifestore Bank transfer to other banks?

Does Lifestore Bank have quick pay?

Does Lifestore Bank accept rolled coins?

Will Lifestore Bank accept loose change?

Where is Lifestore Bank headquarters?

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