The Bank of Marion

Headquarters

102 West Main Street
Marion, VA 24354
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.01% 0.65% →
1-Year CD 0.10% 0.67% →
2-Year CD 0.20% 0.75% →
5-Year CD 0.20% 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

The Bank of Marion is an FDIC insured institution located in Marion, VA. It was founded in 1874 and has approximately $0.48 billion in assets. Customers can open an account at one of its 15 branches.

FDIC Insured Yes
FDIC Certificate # 9507
Date Established 1874
Assets $ 484.23 million
Loans $ 276.55 million
Deposits $ 423.24 million
Capital $ 56.11 million
 

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

Deposit Rates - May 6, 2021

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.01% $2,500 $4,999 Learn More
Money Market
0.03% $2,500 $2,999 Learn More
Money Market
0.05% $10,000 $14,999 Learn More
Money Market
0.05% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
6 Mo CD
0.10% $10,000 $14,999 Learn More
6 Mo CD
0.10% $100,000 $199,999 Learn More
12 Mo CD
0.10% $10,000 $14,999 Learn More
12 Mo CD
0.10% $100,000 $199,999 Learn More
18 Mo CD
0.15% $10,000 $14,999 Learn More
18 Mo CD
0.15% $100,000 $199,999 Learn More
24 Mo CD
0.20% $10,000 $14,999 Learn More
24 Mo CD
0.20% $100,000 $199,999 Learn More
30 Mo CD
0.20% $10,000 $14,999 Learn More
30 Mo CD
0.20% $100,000 $199,999 Learn More
36 Mo CD
0.20% $10,000 $14,999 Learn More
36 Mo CD
0.20% $100,000 $199,999 Learn More
48 Mo CD
0.20% $10,000 $14,999 Learn More
48 Mo CD
0.20% $100,000 $199,999 Learn More
60 Mo CD
0.20% $10,000 $14,999 Learn More
60 Mo CD
0.20% $100,000 $199,999 Learn More

Variable IRA Rates APY MIN MAX
Var IRA
0.20% $1 $499 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.01% $1 $99 Learn MoreShow Less
Int Ckg
0.03% $2,500 $3,499 Learn MoreShow Less
 

Loan Rates - May 6, 2021

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for The Bank of Marion

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 2021

Lender APR Rate (%) Monthly
Payment
Learn More
Rocket Mortgage
NMLS ID: 3030
3.368% 3.250%
1.00 points
$3,750 fees
$1,089 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2021

Lender APR (%)? Monthly Payment? Learn More
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR 2.990 %
After Intro: 3.750 %
Intro Period: 12 months
$25,000 Learn More
More Info
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
2.240 %
$0 Learn More
More Info

Note to The Bank of Marion
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Branches

The Bank of Marion 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


The Bank of Marion Locations


Financial Details

The Bank of Marion Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of The Bank of Marion. 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
The Bank of Marion U.S. Bank Average
5.58% 5.49%

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, 2020, The Bank of Marion had $3,249,000 in non-current loans and $68,000 in owned real estate. To cover these potential losses it had $56,105,000 in equity and $3,365,000 in loans loss reserves. That gives it a Texas Ratio of 5.58%.

Return on Equity
The Bank of Marion U.S. Bank Average
9.03% 9.24%

The Bank of Marion has a Return on Equity of 9.03% versus the BestCashCow average of 9.24%. 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
The Bank of Marion U.S. Bank Average
11.59% 11.96%

The Bank of Marion has a Capitalization of 11.59% versus the BestCashCow average of 11.96. 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.

The Bank of Marion Balance Sheet Analysis

As of December 31, 2020, The Bank of Marion had assets of $484,225,000, loans of $276,549,000, and deposits of $423,243,000. 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, 2020
ASSETS
Cash & Balances due from depository institutions $ 15.78 million
Interest-bearing balances $ 6.52 million
Total securities $ 165.68 million
Federal funds sold and reverse repurchase $ 0.22 million
Net loans and leases $ 276.55 million
Loan loss allowance $ 3.37 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.07 million
Goodwill and other intangibles N.A.
All other assets $ 18.49 million
     Total Assets $ 428.12 million
LIABILITIES
Total deposits $ 423.24 million
      Interest-bearing deposits $ 333.26 million
      Deposits held in domestic offices $ 423.24 million
      % insured (estimated) 83.85%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 4.88 million
      Total Liabilities $ 428.12 million
      Shareholders’ Equity $ 56.11 million

Summary Income Statement

December 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 17.23 million
Total Interest Expense $ 1.00 million
Net interest income $ 16.23 million
Provision for loan and lease losses $ 1.06 million
Total non interest income $ 3.72 million
Total non interest expense $ 13.43 million
Pre-tax Net Operating Income $ 5.46 million

Bank Loan Profile?

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

Compared to other banks in Virginia, The Bank of Marion 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.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 59.64
Multifamily
Mortgages
1.92
Credit Card Loans 0.48
Consumer Auto Loans 1.26
Small Business Loans 9.80
Construction and Development Loans 2.06
Commercial Real Estate 17.25
Commercial and Industrial Loans 7.16
Farm Loans 0.80

Frequently Asked Questions About The Bank Of Marion

Branches and Savings

Is The Bank Of Marion FDIC insured?

Yes. It is covered under FDIC Certificate #9507.

Why does The Bank Of Marion pay such low interest on savings accounts?

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

Why are The Bank Of Marion CD rates not competitive?

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

Is The Bank Of Marion a commercial bank?

Yes

Where are The Bank Of Marion locations?

See branch locations nearby.

Is The Bank Of Marion open on Saturdays?

Is The Bank Of Marion open on Sundays?

What time does The Bank Of Marion open?

What time does The Bank Of Marion close?

Are The Bank Of Marion ATMs Open 24/7?

Do The Bank Of Marion ATMs accept cash deposits?

Can The Bank Of Marion customers use other ATMs?

Do The Bank Of Marion branches have notaries?

Will The Bank Of Marion notarize my document?

What address for The Bank Of Marion should I put for incoming ACH transfers?

Will the The Bank Of Marion branch print checks?

Do The Bank Of Marion checks expire?

Does The Bank Of Marion require US citizenship to open account?

Can The Bank Of Marion close my account?

Does The Bank Of Marion Report to credit bureaus?

Does The Bank Of Marion Use Equifax?

What is The Bank Of Marion's ACH Routing Number?

What is The Bank Of Marion's SWIFT code?

Products

Does The Bank Of Marion offer mortgages?

Compare mortgage rates here.

Does The Bank Of Marion offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does The Bank Of Marion offer personal loans?

Compare personal loan rates here.

Does The Bank Of Marion offer student loans?

Will The Bank Of Marion cash a check?

Will The Bank Of Marion redeem a savings bond?

Does The Bank Of Marion cash savings bonds?

Will The Bank Of Marion cash money orders?

Can The Bank Of Marion issue a money order?

Does The Bank Of Marion do currency exchange?

Background on The Bank

Who owns The Bank Of Marion?

How long has The Bank Of Marion been around?

Can The Bank Of Marion transfer to other banks?

Does The Bank Of Marion have quick pay?

Does The Bank Of Marion accept rolled coins?

Will The Bank Of Marion accept loose change?

Where is The Bank Of Marion headquarters?

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