The Bank of Southside Virginia

Headquarters

17208 Halligan Park Rd.
Carson, VA 23830
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 0.65% →
1-Year CD 0.20% 0.67% →
2-Year CD 0.30% 0.75% →
5-Year CD 0.75% 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 Southside Virginia is an FDIC insured institution located in Carson, VA. It was founded in 1911 and has approximately $0.64 billion in assets. Customers can open an account at one of its 15 branches.

FDIC Insured Yes
FDIC Certificate # 11580
Date Established 1911
Assets $ 635.94 million
Loans $ 203.79 million
Deposits $ 519.40 million
Capital $ 107.24 million
 

For a more detailed analysis of The Bank of Southside Virginia'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
0.10% $2,500 $4,999 Learn More
Money Market
0.10% $2,500 $2,999 Learn More
Money Market
0.10% $10,000 $14,999 Learn More
Money Market
0.15% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
6 Mo CD
0.15% $10,000 $14,999 Learn More
6 Mo CD
0.15% $100,000 $199,999 Learn More
12 Mo CD
0.20% $10,000 $14,999 Learn More
12 Mo CD
0.20% $100,000 $199,999 Learn More
18 Mo CD
0.25% $10,000 $14,999 Learn More
18 Mo CD
0.25% $100,000 $199,999 Learn More
24 Mo CD
0.30% $10,000 $14,999 Learn More
24 Mo CD
0.30% $100,000 $199,999 Learn More
30 Mo CD
0.40% $10,000 $14,999 Learn More
30 Mo CD
0.40% $100,000 $199,999 Learn More
36 Mo CD
0.50% $10,000 $14,999 Learn More
36 Mo CD
0.50% $100,000 $199,999 Learn More
48 Mo CD
0.60% $10,000 $14,999 Learn More
48 Mo CD
0.60% $100,000 $199,999 Learn More
60 Mo CD
0.75% $10,000 $14,999 Learn More
60 Mo CD
0.75% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.10% $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 Southside Virginia

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
Morty, Inc.
NMLS ID: 1429243
2.581% 2.500%
0.63 points
$2,668 fees
$988 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 Southside Virginia
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Branches

The Bank of Southside Virginia 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 Southside Virginia Locations


Financial Details

The Bank of Southside Virginia Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of The Bank of Southside Virginia. 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 Southside Virginia U.S. Bank Average
0.29% 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 Southside Virginia had $48,000 in non-current loans and $281,000 in owned real estate. To cover these potential losses it had $107,242,000 in equity and $4,524,000 in loans loss reserves. That gives it a Texas Ratio of 0.29%.

Return on Equity
The Bank of Southside Virginia U.S. Bank Average
5.48% 9.24%

The Bank of Southside Virginia has a Return on Equity of 5.48% 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 Southside Virginia U.S. Bank Average
16.86% 11.96%

The Bank of Southside Virginia has a Capitalization of 16.86% 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 Southside Virginia Balance Sheet Analysis

As of December 31, 2020, The Bank of Southside Virginia had assets of $635,938,000, loans of $203,791,000, and deposits of $519,400,000. 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 $ 198.47 million
Interest-bearing balances $ 188.88 million
Total securities $ 170.39 million
Federal funds sold and reverse repurchase $ 21.11 million
Net loans and leases $ 203.79 million
Loan loss allowance $ 4.52 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.28 million
Goodwill and other intangibles N.A.
All other assets $ 39.11 million
     Total Assets $ 528.70 million
LIABILITIES
Total deposits $ 519.40 million
      Interest-bearing deposits $ 469.69 million
      Deposits held in domestic offices $ 519.40 million
      % insured (estimated) 76.84%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 9.30 million
      Total Liabilities $ 528.70 million
      Shareholders’ Equity $ 107.24 million

Summary Income Statement

December 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 17.64 million
Total Interest Expense $ 1.00 million
Net interest income $ 16.64 million
Provision for loan and lease losses $ 0.01 million
Total non interest income $ 3.66 million
Total non interest expense $ 13.65 million
Pre-tax Net Operating Income $ 6.64 million

Bank Loan Profile?

The top three loan types in The Bank of Southside Virginia’s loan portfolio are Consumer Auto Loans, Commercial Real Estate, and 1-4 Family Residential Loans.

Compared to other banks in Virginia, The Bank of Southside Virginia has a significantly higher percent of Consumer Auto Loans, Farm 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 14.24
Multifamily
Mortgages
1.44
Credit Card Loans 0.63
Consumer Auto Loans 43.04
Small Business Loans 9.06
Construction and Development Loans 3.92
Commercial Real Estate 21.65
Commercial and Industrial Loans 10.33
Farm Loans 3.24

Frequently Asked Questions About The Bank Of Southside Virginia

Branches and Savings

Is The Bank Of Southside Virginia FDIC insured?

Yes. It is covered under FDIC Certificate #11580.

Why does The Bank Of Southside Virginia 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 Southside Virginia CD rates not competitive?

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

Is The Bank Of Southside Virginia a commercial bank?

Yes

Where are The Bank Of Southside Virginia locations?

See branch locations nearby.

Is The Bank Of Southside Virginia open on Saturdays?

Is The Bank Of Southside Virginia open on Sundays?

What time does The Bank Of Southside Virginia open?

What time does The Bank Of Southside Virginia close?

Are The Bank Of Southside Virginia ATMs Open 24/7?

Do The Bank Of Southside Virginia ATMs accept cash deposits?

Can The Bank Of Southside Virginia customers use other ATMs?

Do The Bank Of Southside Virginia branches have notaries?

Will The Bank Of Southside Virginia notarize my document?

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

Will the The Bank Of Southside Virginia branch print checks?

Do The Bank Of Southside Virginia checks expire?

Does The Bank Of Southside Virginia require US citizenship to open account?

Can The Bank Of Southside Virginia close my account?

Does The Bank Of Southside Virginia Report to credit bureaus?

Does The Bank Of Southside Virginia Use Equifax?

What is The Bank Of Southside Virginia's ACH Routing Number?

What is The Bank Of Southside Virginia's SWIFT code?

Products

Does The Bank Of Southside Virginia offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does The Bank Of Southside Virginia offer personal loans?

Compare personal loan rates here.

Does The Bank Of Southside Virginia offer student loans?

Will The Bank Of Southside Virginia cash a check?

Will The Bank Of Southside Virginia redeem a savings bond?

Does The Bank Of Southside Virginia cash savings bonds?

Will The Bank Of Southside Virginia cash money orders?

Can The Bank Of Southside Virginia issue a money order?

Does The Bank Of Southside Virginia do currency exchange?

Background on The Bank

Who owns The Bank Of Southside Virginia?

How long has The Bank Of Southside Virginia been around?

Can The Bank Of Southside Virginia transfer to other banks?

Does The Bank Of Southside Virginia have quick pay?

Does The Bank Of Southside Virginia accept rolled coins?

Will The Bank Of Southside Virginia accept loose change?

Where is The Bank Of Southside Virginia headquarters?

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