Affinity Bank

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Affinity Bank is an FDIC insured institution headquartered at 3175 Highway 278, Covington, GA 30014.
It was founded in 1928 and has approximately $1 billion in assets. Customers can open an account at one of its 3 branches.

Deposit Rates - October 1, 2022

SAVINGS RATES APY MIN
Savings
0.10% $2,500 Compare
CD RATES APY MIN
6 Mo CD
0.35% $10,000 Compare
6 Mo CD
0.35% $100,000 Compare
MM RATES APY MIN
Money Market
0.15% $2,500 Compare
Money Market
0.15% $10,000 Compare
Money Market
0.20% $25,000 Compare
INT CHECKING RATES APY MIN
Int Ckg
0.06% $2,500

Overview 2022

General Bank Information

FDIC Insured Yes
FDIC Certificate # 29510
Date Established 1928
Assets $ 759.98 million
Loans $ 592.94 million
Deposits $ 635.72 million
Capital $ 102.58 million

Summary Balance Sheet

ASSETS
Cash & Balances due from depository institutions $ 45.51 million
Interest-bearing balances $ 31.21 million
Total securities $ 45.91 million
Federal funds sold and reverse repurchase $ 24.39 million
Net loans and leases $ 592.94 million
Loan loss allowance $ 8.82 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 3.54 million
Goodwill and other intangibles $ 18.70 million
All other assets $ 25.41 million
     Total Assets $ 657.40 million

LIABILITIES
Total deposits $ 635.72 million
      Interest-bearing deposits $ 426.00 million
      Deposits held in domestic offices $ 635.72 million
      % insured (estimated) 75.64%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 15.45 million
Subordinated debt N.A.
All other liabilities $ 6.24 millionn
      Total Liabilities $ 657.40 million
      Shareholders’ Equity $ 102.58 million

Summary Income Statement

INCOME AND EXPENSES
Total Interest Income $ 7.24 million
Total Interest Expense N.A.
Net interest income $ 7.67 million
Provision for loan and lease losses $ 0.25 million
Total non interest income $ 0.66 million
Total non interest expense $ 5.67 million
Pre-tax Net Operating Income $ 2.41 million

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Branches

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Affinity Bank Locations

Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    LOCAL CD
    Bank
    GEORGIA
    $50,000
    6 Month
    0.35%
    1.27x (National Avg. - 0.28%)
    $10,000
    -
    SCENARIO
    Year Rate
    0.35%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 175 123
    2 50,175 176 123
    3 50,351 176 123
    4 50,527 177 124
    5 50,704 177 124
    6 50,881 178 125
    7 51,059 179 125
    8 51,238 179 126
    9 51,417 180 126
    10 51,597 181 126
    11 51,778 181 127
    12 51,959 182 127
    13 52,141 182 128
    14 52,323 183 128
    15 52,507 184 129
    16 52,690 184 129
    17 52,875 185 130
    18 53,060 186 130
    19 53,245 186 130
    20 53,432 187 131
    TOTAL $3,619 $2,533
  • 2
    ONLINE CD
    Online Bank
    -
    $50,000
    12 Month
    1.65%
    3.98x (National Avg. - 0.42%)
    $1,000
    -
    SCENARIO
    Year Rate
    1.65%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 825 578
    2 50,825 839 587
    3 51,664 852 597
    4 52,516 867 607
    5 53,383 881 617
    6 54,263 895 627
    7 55,159 910 637
    8 56,069 925 648
    9 56,994 940 658
    10 57,934 956 669
    11 58,890 972 680
    12 59,862 988 691
    13 60,850 1,004 703
    14 61,854 1,021 714
    15 62,874 1,037 726
    16 63,912 1,055 738
    17 64,966 1,072 750
    18 66,038 1,090 763
    19 67,128 1,108 775
    20 68,235 1,126 788
    TOTAL $19,361 $13,553