PromiseOne Bank

2385 Pleasant Hill Road
Duluth, GA 30096

 

2019 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 58657
Date Established 2008
Assets $0.42 billion
Loans $0.30 billion
Deposits $0.35 billion
Capital $0.06 billion

PromiseOne Bank is an FDIC insured institution located in Duluth, GA. It was founded in 2008 and has approximately $0.42 billion in assets. Customers can open an account at one of its 4 branches.

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

Deposit Rates - October 14, 2019

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Money Market
1.00% $1 $4,999 Learn MoreShow Less
Money Market
1.75% $5,000 $24,999 Learn MoreShow Less
Money Market
1.85% $25,000 $99,999 Learn MoreShow Less
CD Rates APY MIN MAX
3 Mo CD
0.35% $1,000 - Learn MoreShow Less
6 Mo CD
0.50% $1,000 - Learn MoreShow Less
12 Mo CD
2.00% $1,000 - Learn MoreShow Less
18 Mo CD
2.00% $1,000 - Learn MoreShow Less
24 Mo CD
2.00% $1,000 - Learn MoreShow Less
30 Mo CD
2.00% $1,000 - Learn MoreShow Less
36 Mo CD
2.00% $1,000 - Learn MoreShow Less
48 Mo CD
2.00% $1,000 - Learn MoreShow Less
60 Mo CD
2.00% $1,000 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
2.00% $1,000 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.25% $1,000 - Learn MoreShow Less

Loan Rates - October 14, 2019

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for PromiseOne 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 2019

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
3.634% 3.625% 0.13 $265 $1,141 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2019

Lender APR (%)? Monthly Payment? Learn More
Figure Home Equity Line
Figure Home Equity Line
0.000 %
$0 Learn More
More Info
Third Federal Savings and Loans
Third Federal Savings and Loans
3.990 %
$0 Learn More
More Info

Note to PromiseOne Bank
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Branches

PromiseOne 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


PromiseOne Bank Locations


Financial Details

PromiseOne Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of PromiseOne 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
PromiseOne Bank U.S. Bank Average
4.29% 6.77%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s 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 June 30, 2019, PromiseOne Bank had $2,289,000 in non-current loans and $218,000 in owned real estate. To cover these potential losses it had $55,204,000 in equity and $3,301,000 in loans loss reserves. That gives it a Texas Ratio of 4.29%.

Return on Equity
PromiseOne Bank U.S. Bank Average
23.39% 9.50%

PromiseOne Bank has a Return on Equity of 23.39% versus the BestCashCow average of 9.50%. 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
PromiseOne Bank U.S. Bank Average
13.15% 12.76%

PromiseOne Bank has a Capitalization of 13.15% versus the BestCashCow average of 12.76. 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.

PromiseOne Bank Balance Sheet Analysis

As of June 30, 2019, PromiseOne Bank had assets of $419,858,000, loans of $297,123,000, and deposits of $350,108,000. 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

June 30, 2019
ASSETS
Cash & Balances due from depository institutions $0.05 billion
Interest-bearing balances $0.04 billion
Total securities $0.05 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.30 billion
Loan loss allowance $0.00 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.01 billion
All other assets $0.01 billion
     Total Assets $0.36 billion
LIABILITIES
Total deposits $0.35 billion
      Interest-bearing deposits $0.31 billion
      Deposits held in domestic offices $0.35 billion
      % insured (estimated) 90.94%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.01 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $0.36 billion
      Shareholders’ Equity $0.06 billion

Summary Income Statement

June 30, 2019
INCOME AND EXPENSES
Total Interest Income $0.01 billion
Total Interest Expense $0.00 billion
Net interest income $0.01 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.01 billion
Pre-tax Net Operating Income $0.01 billion

Bank Loan Profile?

The top three loan types in PromiseOne Bank’s loan portfolio are Commercial Real Estate, Small Business Loans, and Construction and Development Loans.

Compared to other banks in Georgia, PromiseOne Bank has a significantly higher percent of Commercial Real Estate 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 1.38
Multifamily
Mortgages
0.12
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 21.74
Construction and Development Loans 13.27
Commercial Real Estate 69.36
Commercial and Industrial Loans 12.27
Farm Loans 0.00

Frequently Asked Questions About Promiseone Bank

Branches and Savings

Is Promiseone Bank FDIC insured?

Yes. It is covered under FDIC Certificate #58657.

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

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

Why are Promiseone Bank CD rates not competitive?

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

Is Promiseone Bank a commercial bank?

Yes

Where are Promiseone Bank locations?

See branch locations nearby.

Is Promiseone Bank open on Saturdays?

Is Promiseone Bank open on Sundays?

What time does Promiseone Bank open?

What time does Promiseone Bank close?

Are Promiseone Bank ATMs Open 24/7?

Do Promiseone Bank ATMs accept cash deposits?

Can Promiseone Bank customers use other ATMs?

Do Promiseone Bank branches have notaries?

Will Promiseone Bank notarize my document?

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

Will the Promiseone Bank branch print checks?

Do Promiseone Bank checks expire?

Does Promiseone Bank require US citizenship to open account?

Can Promiseone Bank close my account?

Does Promiseone Bank Report to credit bureaus?

Does Promiseone Bank Use Equifax?

What is Promiseone Bank's ACH Routing Number?

What is Promiseone Bank's SWIFT code?

Products

Does Promiseone Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Promiseone Bank offer personal loans?

Compare personal loan rates here.

Does Promiseone Bank offer student loans?

Will Promiseone Bank cash a check?

Will Promiseone Bank redeem a savings bond?

Does Promiseone Bank cash savings bonds?

Will Promiseone Bank cash money orders?

Can Promiseone Bank issue a money order?

Does Promiseone Bank do currency exchange?

Background on The Bank

Who owns Promiseone Bank?

How long has Promiseone Bank been around?

Can Promiseone Bank transfer to other banks?

Does Promiseone Bank have quick pay?

Does Promiseone Bank accept rolled coins?

Will Promiseone Bank accept loose change?

Where is Promiseone Bank headquarters?

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