North Georgia Bank

Headquarters

7911 Macon Highway
Watkinsville, GA 30677
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

North Georgia Bank is an FDIC insured institution located in Watkinsville, GA. It was founded in 2000 and has approximately $0.15 billion in assets.

North Georgia Bank, Watkinsville, Georgia, was closed of February 4, 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 BankSouth, Greensboro, Georgia, to assume all of the deposits of North Georgia Bank, except certain brokered and Internet deposits. The two branches of North Georgia Bank will reopen on Saturday as branches of BankSouth. Depositors of North Georgia Bank will automatically become depositors of BankSouth. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of North Georgia Bank should continue to use their existing branch until they receive notice from BankSouth that it has completed systems changes to allow other BankSouth branches to process their accounts as well.

FDIC Insured Yes
FDIC Certificate # 35242
Date Established 2000
Assets $ 153.17 million
Loans $ 97.93 million
Deposits $ 139.67 million
Capital $ 0.54 million
 

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

Deposit Rates - September 22, 2020

Your Current Location: Virginia, VA 20146


Loan Rates - September 22, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for North Georgia 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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Rocket Mortgage
NMLS ID: 3030
3.872% 3.750% 1.00 $3,750 $1,158 Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.816% 2.750% 0.88 $2,132 $1,021 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

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3.500 %
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Third Federal Savings and Loans
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2.990 %
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Note to North Georgia Bank
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Branches

North Georgia 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


North Georgia Bank Locations


Financial Details

North Georgia Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of North Georgia 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
North Georgia Bank U.S. Bank Average
2428.28% 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, North Georgia Bank had $28,532,000 in non-current loans and $12,773,000 in owned real estate. To cover these potential losses it had $540,000 in equity and $1,161,000 in loans loss reserves. That gives it a Texas Ratio of 2428.28%.

Return on Equity
North Georgia Bank U.S. Bank Average
-147.12% 7.80%

North Georgia Bank has a Return on Equity of -147.12% 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
North Georgia Bank U.S. Bank Average
0.35% 12.68%

North Georgia Bank has a Capitalization of 0.35% 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.

North Georgia Bank Balance Sheet Analysis

As of December 31, 2010, North Georgia Bank had assets of $153,172,000, loans of $97,927,000, and deposits of $139,672,000. 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 $ 97.93 million
Loan loss allowance $ 1.16 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 12.77 million
Goodwill and other intangibles N.A.
All other assets N.A.
     Total Assets N.A.
LIABILITIES
Total deposits $ 139.67 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 $ 153.17 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 North Georgia Bank’s loan portfolio are 1-4 Family Residential Loans, Multifamily Mortgages, and Credit Card Loans.

Compared to other banks, North Georgia 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 North Georgia Bank

Branches and Savings

Is North Georgia Bank FDIC insured?

Yes. It is covered under FDIC Certificate #35242.

Why does North Georgia Bank pay such low interest on savings accounts?

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

Why are North Georgia Bank CD rates not competitive?

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

Is North Georgia Bank a commercial bank?

Yes

Where are North Georgia Bank locations?

See branch locations nearby.

Is North Georgia Bank open on Saturdays?

Is North Georgia Bank open on Sundays?

What time does North Georgia Bank open?

What time does North Georgia Bank close?

Are North Georgia Bank ATMs Open 24/7?

Do North Georgia Bank ATMs accept cash deposits?

Can North Georgia Bank customers use other ATMs?

Do North Georgia Bank branches have notaries?

Will North Georgia Bank notarize my document?

What address for North Georgia Bank should I put for incoming ACH transfers?

Will the North Georgia Bank branch print checks?

Do North Georgia Bank checks expire?

Does North Georgia Bank require US citizenship to open account?

Can North Georgia Bank close my account?

Does North Georgia Bank Report to credit bureaus?

Does North Georgia Bank Use Equifax?

What is North Georgia Bank's ACH Routing Number?

What is North Georgia Bank's SWIFT code?

Products

Does North Georgia Bank offer mortgages?

Compare mortgage rates here.

Does North Georgia Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does North Georgia Bank offer personal loans?

Compare personal loan rates here.

Does North Georgia Bank offer student loans?

Will North Georgia Bank cash a check?

Will North Georgia Bank redeem a savings bond?

Does North Georgia Bank cash savings bonds?

Will North Georgia Bank cash money orders?

Can North Georgia Bank issue a money order?

Does North Georgia Bank do currency exchange?

Background on The Bank

Who owns North Georgia Bank?

How long has North Georgia Bank been around?

Can North Georgia Bank transfer to other banks?

Does North Georgia Bank have quick pay?

Does North Georgia Bank accept rolled coins?

Will North Georgia Bank accept loose change?

Where is North Georgia Bank headquarters?

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