Miners Exchange Bank


483 Front Street
Coeburn, VA 24230
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Notable Rates APY Vs.Others
Savings 0.10% 0.65% →
1-Year CD 0.50% 0.70% →
2-Year CD 0.90% 0.75% →
5-Year CD 1.10% 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

Miners Exchange Bank is an FDIC insured institution located in Coeburn, VA. It was founded in 1982 and has approximately $0.09 billion in assets. Customers can open an account at one of its 7 branches.

FDIC Insured Yes
FDIC Certificate # 23989
Date Established 1982
Assets $ 91.37 million
Loans $ 49.95 million
Deposits $ 78.48 million
Capital $ 11.41 million

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

Deposit Rates - July 24, 2021

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
0.10% $1 - Learn More
Money Market
0.15% $2,500 - Learn More
6 Mo CD
0.40% $1,000 - Learn More
12 Mo CD
0.50% $1,000 - Learn More
24 Mo CD
0.90% $500 - Learn More
30 Mo CD
0.95% $500 - Learn More
60 Mo CD
1.10% $500 - Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.05% $1 - Learn MoreShow Less

Loan Rates - July 24, 2021

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Miners Exchange 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 2021

Lender APR Rate (%) Monthly
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NMLS ID: 3030
3.465% 3.375%
0.63 points
$2,812 fees
$1,106 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2021

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BMO Harris Bank
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4.840 %
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Third Federal Savings and Loan
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2.240 %
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Note to Miners Exchange Bank
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Financial Details

Miners Exchange Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Miners Exchange 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
Miners Exchange Bank U.S. Bank Average
14.77% 5.29%

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, 2021, Miners Exchange Bank had $992,000 in non-current loans and $767,000 in owned real estate. To cover these potential losses it had $11,412,000 in equity and $501,000 in loans loss reserves. That gives it a Texas Ratio of 14.77%.

Return on Equity
Miners Exchange Bank U.S. Bank Average
0.24% 11.43%

Miners Exchange Bank has a Return on Equity of 0.24% versus the BestCashCow average of 11.43%. 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.

Miners Exchange Bank U.S. Bank Average
12.49% 11.51%

Miners Exchange Bank has a Capitalization of 12.49% versus the BestCashCow average of 11.51. 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.

Miners Exchange Bank Balance Sheet Analysis

As of March 31, 2021, Miners Exchange Bank had assets of $91,373,000, loans of $49,953,000, and deposits of $78,480,000. 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, 2021
Cash & Balances due from depository institutions $ 11.20 million
Interest-bearing balances $ 4.80 million
Total securities $ 10.32 million
Federal funds sold and reverse repurchase $ 14.43 million
Net loans and leases $ 49.95 million
Loan loss allowance $ 0.50 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.77 million
Goodwill and other intangibles N.A.
All other assets $ 2.49 million
     Total Assets $ 79.96 million
Total deposits $ 78.48 million
      Interest-bearing deposits $ 36.46 million
      Deposits held in domestic offices $ 78.48 million
      % insured (estimated) 90.94%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 1.48 million
      Total Liabilities $ 79.96 million
      Shareholders’ Equity $ 11.41 million

Summary Income Statement

March 31, 2021
Total Interest Income $ 0.89 million
Total Interest Expense $ 0.05 million
Net interest income $ 0.84 million
Provision for loan and lease losses $ 0.01 million
Total non interest income $ 0.14 million
Total non interest expense $ 0.98 million
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in Miners Exchange Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Consumer Auto Loans.

Compared to other banks in Virginia, Miners Exchange Bank has a significantly higher percent of 1-4 Family Residential 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 61.29
Credit Card Loans 0.00
Consumer Auto Loans 6.05
Small Business Loans 0.00
Construction and Development Loans 1.52
Commercial Real Estate 22.67
Commercial and Industrial Loans 3.98
Farm Loans 0.00

Frequently Asked Questions About Miners Exchange Bank

Branches and Savings

Is Miners Exchange Bank FDIC insured?

Yes. It is covered under FDIC Certificate #23989.

Why does Miners Exchange Bank pay such low interest on savings accounts?

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

Why are Miners Exchange Bank CD rates not competitive?

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

Is Miners Exchange Bank a commercial bank?


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Does Miners Exchange Bank offer home equity lines of credit and home equity loans?

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Background on The Bank

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