2024 Overview
General Bank Information
The Bank of Vernon is an FDIC insured institution located in Vernon, AL. It was founded in 1911 and has approximately $0.33 billion in assets. Customers can open an account at one of its 3 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 51 |
| Date Established | 1911 |
| Assets | $ 327.29 million |
| Loans | $ 209.89 million |
| Deposits | $ 270.07 million |
| Capital | $ 55.58 million |
For a more detailed analysis of The Bank of Vernon's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - April 26, 2024
Your Current Location: Ohio, OH 43085
Loan Rates - April 26, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for The Bank of Vernon
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Monthly Payment |
Learn More |
|---|---|---|---|---|
NMLS ID: 447490 |
6.836% |
6.750% 0.88 points $2,822 fees |
$2,076 | Learn More |
NMLS ID: 401822 |
6.944% |
6.750% 1.00 points $6,400 fees |
$2,076 | Learn More |
NMLS ID: 2059741 |
7.004% |
6.875% 0.63 points $4,192 fees |
$2,103 | Learn More |
NMLS ID: 3030 |
7.463% |
7.375% 0.88 points $2,800 fees |
$2,211 | Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
7.490 %
|
$0 |
Learn More
More Info |
Note to The Bank of Vernon
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Branches
The Bank of Vernon 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:
Columbus,Ohio
Climate Policy and Initiatives
The Bank of Vernon is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.
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Financial Details
The Bank of Vernon Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of The Bank of Vernon. 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 Vernon | U.S. Bank Average |
|---|---|
| 0% | 3.96% |
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, 2024, The Bank of Vernon had $1,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $55,578,000 in equity and $2,330,000 in loans loss reserves. That gives it a Texas Ratio of 0%.
Return on Equity
| The Bank of Vernon | U.S. Bank Average |
|---|---|
| 17.34% | 12.20% |
The Bank of Vernon has a Return on Equity of 17.34% versus the BestCashCow average of 12.20%. 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 Vernon | U.S. Bank Average |
|---|---|
| 16.98% | 10.76% |
The Bank of Vernon has a Capitalization of 16.98% versus the BestCashCow average of 10.76. 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.
The Bank of Vernon Balance Sheet Analysis
As of December 31, 2023, The Bank of Vernon had assets of $327,287,000, loans of $209,892,000, and deposits of $270,068,000. 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, 2024| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 49.76 million |
| Interest-bearing balances | $ 45.32 million |
| Total securities | $ 57.76 million |
| Federal funds sold and reverse repurchase | $ 0.54 million |
| Net loans and leases | $ 209.89 million |
| Loan loss allowance | $ 2.33 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 | $ 2.71 million |
| Total Assets | $ 271.71 million |
| LIABILITIES | |
|---|---|
| Total deposits | $ 270.07 million |
| Interest-bearing deposits | $ 203.00 million |
| Deposits held in domestic offices | $ 270.07 million |
| % insured (estimated) | 81.04% |
| Federal funds purchased and repurchase agreements | N.A. |
| Trading liabilities | N.A. |
| Other borrowed funds | N.A. |
| Subordinated debt | N.A. |
| All other liabilities | $ 0.43 million |
| Total Liabilities | $ 271.71 million |
| Shareholders’ Equity | $ 55.58 million |
Summary Income Statement
December 31, 2024| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 16.62 million |
| Total Interest Expense | $ 5.14 million |
| Net interest income | $ 11.48 million |
| Provision for loan and lease losses | $ 0.51 million |
| Total non interest income | $ 8.21 million |
| Total non interest expense | $ 7.90 million |
| Pre-tax Net Operating Income | $ 1.67 million |
Bank Loan Profile?
The top three loan types in The Bank of Vernon’s loan portfolio are Small Business Loans, Commercial and Industrial Loans, and Commercial Real Estate.
Compared to other banks in Alabama, The Bank of Vernon has a significantly higher percent of Credit Card Loans, Small Business 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 | 14.82 | ✓ | ||
| Multifamily Mortgages |
0.41 | ✓ | ||
| Credit Card Loans | 0.56 | ✓ | ||
| Consumer Auto Loans | 0.77 | ✓ | ||
| Small Business Loans | 22.62 | ✓ | ||
| Construction and Development Loans | 3.80 | ✓ | ||
| Commercial Real Estate | 19.91 | ✓ | ||
| Commercial and Industrial Loans | 20.37 | ✓ | ||
| Farm Loans | 0.47 | ✓ | ||
Customer Reviews for The Bank of Vernon
Saveurmoney
December 22, 2021
Please go to a bank that has people who actually treat you like a human whether you have thousands in your account or in overdraft because these people do NOT.
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PleaseDont
December 15, 2021
They are the absolute worst! They take pride in returning checks before posting your deposits. I’ve had checks returned for essential business accounts for my business only for them to still sink my account for nsf charges. Electric, insurance, rent….they don’t help at all. They return everything!! Most real banks will at least try to help with important bills especially if it’s essential, but not them. They’re only nice if you have money in your account. They won’t even smile if you’re ten dollars in overdraft. Please go somewhere where they’ll appreciate their customers, please. Thanks
Is this review helpful? Yes:0 / No: 0
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