New Horizons Bank

Headquarters

489 Highland Xing
East Ellijay, GA 30540
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 1.05% →
1-Year CD N.A. 0.95% →
2-Year CD N.A. 1.05% →
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

New Horizons Bank is an FDIC insured institution located in East Ellijay, GA. It was founded in 2004 and has approximately $0.1 billion in assets.

New Horizons Bank, East Ellijay, Georgia, was closed on April 15, 2011 by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Citizens South Bank, Gastonia, North Carolina, to assume all of the deposits of New Horizons Bank.

FDIC Insured Yes
FDIC Certificate # 57705
Date Established 2004
Assets $ 103.06 million
Loans $ 68.44 million
Deposits $ 99.02 million
Capital N.A.
 

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

Deposit Rates - September 24, 2020

Your Current Location: Connecticut, CT 06828


Loan Rates - September 24, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for New Horizons 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 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
2.815% 2.750% 0.88 $2,122 $1,021 Learn More

Featured - Connecticut 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
2.990 %
$0 Learn More
More Info

Note to New Horizons Bank
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Branches

New Horizons 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


New Horizons Bank Locations


Financial Details

New Horizons Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of New Horizons 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
New Horizons Bank U.S. Bank Average
1088.86% 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, New Horizons Bank had $8,293,000 in non-current loans and $11,742,000 in owned real estate. To cover these potential losses it had $-49,000 in equity and $1,889,000 in loans loss reserves. That gives it a Texas Ratio of 1088.86%.

Return on Equity
New Horizons Bank U.S. Bank Average
-919.27% 7.80%

New Horizons Bank has a Return on Equity of -919.27% 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
New Horizons Bank U.S. Bank Average
-0.05% 12.68%

New Horizons Bank has a Capitalization of -0.05% 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.

New Horizons Bank Balance Sheet Analysis

As of March 31, 2011, New Horizons Bank had assets of $103,055,000, loans of $68,439,000, and deposits of $99,022,000. 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 $ 68.44 million
Loan loss allowance $ 1.89 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 11.74 million
Goodwill and other intangibles N.A.
All other assets N.A.
     Total Assets N.A.
LIABILITIES
Total deposits $ 99.02 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 $ 103.06 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 New Horizons Bank’s loan portfolio are 1-4 Family Residential Loans, Multifamily Mortgages, and Credit Card Loans.

Compared to other banks, New Horizons Bank’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 New Horizons Bank

Branches and Savings

Is New Horizons Bank FDIC insured?

Yes. It is covered under FDIC Certificate #57705.

Why does New Horizons Bank pay such low interest on savings accounts?

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

Why are New Horizons Bank CD rates not competitive?

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

Is New Horizons Bank a commercial bank?

Yes

Where are New Horizons Bank locations?

See branch locations nearby.

Is New Horizons Bank open on Saturdays?

Is New Horizons Bank open on Sundays?

What time does New Horizons Bank open?

What time does New Horizons Bank close?

Are New Horizons Bank ATMs Open 24/7?

Do New Horizons Bank ATMs accept cash deposits?

Can New Horizons Bank customers use other ATMs?

Do New Horizons Bank branches have notaries?

Will New Horizons Bank notarize my document?

What address for New Horizons Bank should I put for incoming ACH transfers?

Will the New Horizons Bank branch print checks?

Do New Horizons Bank checks expire?

Does New Horizons Bank require US citizenship to open account?

Can New Horizons Bank close my account?

Does New Horizons Bank Report to credit bureaus?

Does New Horizons Bank Use Equifax?

What is New Horizons Bank's ACH Routing Number?

What is New Horizons Bank's SWIFT code?

Products

Does New Horizons Bank offer mortgages?

Compare mortgage rates here.

Does New Horizons Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does New Horizons Bank offer personal loans?

Compare personal loan rates here.

Does New Horizons Bank offer student loans?

Will New Horizons Bank cash a check?

Will New Horizons Bank redeem a savings bond?

Does New Horizons Bank cash savings bonds?

Will New Horizons Bank cash money orders?

Can New Horizons Bank issue a money order?

Does New Horizons Bank do currency exchange?

Background on The Bank

Who owns New Horizons Bank?

How long has New Horizons Bank been around?

Can New Horizons Bank transfer to other banks?

Does New Horizons Bank have quick pay?

Does New Horizons Bank accept rolled coins?

Will New Horizons Bank accept loose change?

Where is New Horizons Bank headquarters?

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