NewDominion Bank

Headquarters

1111 Metropolitan Avenue
Charlotte, NC 28204
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 1.40% →
1-Year CD N.A. 1.15% →
2-Year CD N.A. 1.26% →
5-Year CD N.A. 1.56% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

NewDominion Bank is an FDIC insured institution located in Charlotte, NC. It was founded in 2005 and has approximately $0.33 billion in assets. Customers can open an account at one of its 3 branches.

FDIC Insured Yes
FDIC Certificate # 57888
Date Established 2005
Assets $ 346.63 million
Loans $ 274.86 million
Deposits $ 283.80 million
Capital $ 42.64 million
 

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

Deposit Rates - July 7, 2020

Your Current Location: Virginia, VA 20146

Bank Online Offers


Loan Rates - July 7, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for NewDominion 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

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Featured - Virginia Home Equity Line Of Credit Rates 2020

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3.750 %
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2.990 %
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Note to NewDominion Bank
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Branches

NewDominion 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:
Ashburn,Virginia


NewDominion Bank Locations


Financial Details

NewDominion Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of NewDominion 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
NewDominion Bank U.S. Bank Average
0.78% 6.51%

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 December 31, 2019, NewDominion Bank had $358,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $42,642,000 in equity and $3,053,000 in loans loss reserves. That gives it a Texas Ratio of 0.78%.

Return on Equity
NewDominion Bank U.S. Bank Average
4.37% 9.41%

NewDominion Bank has a Return on Equity of 4.37% versus the BestCashCow average of 9.41%. 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
NewDominion Bank U.S. Bank Average
12.3% 12.82%

NewDominion Bank has a Capitalization of 12.3% versus the BestCashCow average of 12.82. 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.

NewDominion Bank Balance Sheet Analysis

As of June 30, 2018, NewDominion Bank had assets of $328,629,000, loans of $274,864,000, and deposits of $283,800,000. 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

December 31, 2019
ASSETS
Cash & Balances due from depository institutions $ 43.04 million
Interest-bearing balances $ 42.36 million
Total securities $ 1.65 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 274.86 million
Loan loss allowance $ 3.05 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 $ 8.27 million
     Total Assets $ 285.99 million
LIABILITIES
Total deposits $ 283.80 million
      Interest-bearing deposits $ 189.83 million
      Deposits held in domestic offices $ 283.80 million
      % insured (estimated) 56.05%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 2.19 million
      Total Liabilities $ 285.99 million
      Shareholders’ Equity $ 60.64 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 7.11 million
Total Interest Expense $ 1.09 million
Net interest income $ 6.02 million
Provision for loan and lease losses N.A.
Total non interest income $ 1.15 million
Total non interest expense $ 6.08 million
Pre-tax Net Operating Income $ 1.39 million

Bank Loan Profile?

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

Compared to other banks, NewDominion 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 35.50
Multifamily
Mortgages
1.90
Credit Card Loans 0.00
Consumer Auto Loans 0.06
Small Business Loans 15.70
Construction and Development Loans 11.41
Commercial Real Estate 44.59
Commercial and Industrial Loans 7.25
Farm Loans 0.00

Frequently Asked Questions About Newdominion Bank

Branches and Savings

Is Newdominion Bank FDIC insured?

Yes. It is covered under FDIC Certificate #57888.

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

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

Why are Newdominion Bank CD rates not competitive?

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

Is Newdominion Bank a commercial bank?

Yes

Where are Newdominion Bank locations?

See branch locations nearby.

Is Newdominion Bank open on Saturdays?

Is Newdominion Bank open on Sundays?

What time does Newdominion Bank open?

What time does Newdominion Bank close?

Are Newdominion Bank ATMs Open 24/7?

Do Newdominion Bank ATMs accept cash deposits?

Can Newdominion Bank customers use other ATMs?

Do Newdominion Bank branches have notaries?

Will Newdominion Bank notarize my document?

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

Will the Newdominion Bank branch print checks?

Do Newdominion Bank checks expire?

Does Newdominion Bank require US citizenship to open account?

Can Newdominion Bank close my account?

Does Newdominion Bank Report to credit bureaus?

Does Newdominion Bank Use Equifax?

What is Newdominion Bank's ACH Routing Number?

What is Newdominion Bank's SWIFT code?

Products

Does Newdominion Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Newdominion Bank offer personal loans?

Compare personal loan rates here.

Does Newdominion Bank offer student loans?

Will Newdominion Bank cash a check?

Will Newdominion Bank redeem a savings bond?

Does Newdominion Bank cash savings bonds?

Will Newdominion Bank cash money orders?

Can Newdominion Bank issue a money order?

Does Newdominion Bank do currency exchange?

Background on The Bank

Who owns Newdominion Bank?

How long has Newdominion Bank been around?

Can Newdominion Bank transfer to other banks?

Does Newdominion Bank have quick pay?

Does Newdominion Bank accept rolled coins?

Will Newdominion Bank accept loose change?

Where is Newdominion Bank headquarters?

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