Banks | Miners Exchange Bank

Miners Exchange Bank


Miners Exchange Bank is an FDIC insured institution headquartered at 483 Front St W, Coeburn, VA 24230.
It was founded in 1982 and has approximately $0 billion in assets. Customers can open an account at one of its 7 branches.

Deposit Rates - March 25, 2023

SAVINGS RATES APY MIN
Savings
0.10% $1 Compare
CD RATES APY MIN
6 Mo CD
0.40% $1,000 Compare
12 Mo CD
0.50% $1,000 Compare
24 Mo CD
0.90% $500 Compare
30 Mo CD
0.95% $500 Compare
60 Mo CD
1.10% $500 Compare
MM RATES APY MIN
Money Market
0.15% $2,500 Compare
INT CHECKING RATES APY MIN
Int Ckg
0.05% $1

Overview 2023

General Bank Information

FDIC Insured Yes
FDIC Certificate # 23989
Date Established 1982
Assets $ 94.55 million
Loans $ 49.58 million
Deposits $ 85.31 million
Capital $ 8.91 million

Summary Balance Sheet

ASSETS
Cash & Balances due from depository institutions $ 8.58 million
Interest-bearing balances $ 2.27 million
Total securities $ 21.89 million
Federal funds sold and reverse repurchase $ 9.93 million
Net loans and leases $ 49.58 million
Loan loss allowance $ 0.55 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.63 million
Goodwill and other intangibles N.A.
All other assets $ 2.96 million
     Total Assets $ 86.90 million

LIABILITIES
Total deposits $ 85.31 million
      Interest-bearing deposits $ 38.74 million
      Deposits held in domestic offices $ 85.31 million
      % insured (estimated) 88.65%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 1.61 millionn
      Total Liabilities $ 86.90 million
      Shareholders’ Equity $ 7.65 million

Summary Income Statement

INCOME AND EXPENSES
Total Interest Income $ 2.95 million
Total Interest Expense $ 0.13 million
Net interest income $ 2.82 million
Provision for loan and lease losses $ 0.03 million
Total non interest income $ 0.51 million
Total non interest expense $ 3.32 million
Pre-tax Net Operating Income $ 0.14 million

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Branches

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Miners Exchange 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
    Miners Exchange Bank
    Bank
    VIRGINIA
    $50,000
    6 Month
    0.40%
    1.38x (National Avg. - 0.29%)
    $1,000
    -
    SCENARIO
    Year Rate
    0.40%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 200 140
    2 50,200 201 141
    3 50,401 202 141
    4 50,602 202 142
    5 50,805 203 142
    6 51,008 204 143
    7 51,212 205 143
    8 51,417 206 144
    9 51,623 206 145
    10 51,829 207 145
    11 52,036 208 146
    12 52,245 209 146
    13 52,454 210 147
    14 52,663 211 147
    15 52,874 211 148
    16 53,085 212 149
    17 53,298 213 149
    18 53,511 214 150
    19 53,725 215 150
    20 53,940 216 151
    TOTAL $4,156 $2,909
  • 2
    LOCAL CD
    Discover Bank , ★ TOP PICK ★
    Online Bank
    -
    $50,000
    60 Month
    4.10%
    5.06x (National Avg. - 0.81%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.10%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,050 1,435
    2 52,050 2,134 1,494
    3 54,184 2,222 1,555
    4 56,406 2,313 1,619
    5 58,718 2,407 1,685
    6 61,126 2,506 1,754
    7 63,632 2,609 1,826
    8 66,241 2,716 1,901
    9 68,957 2,827 1,979
    10 71,784 2,943 2,060
    11 74,727 3,064 2,145
    12 77,791 3,189 2,233
    13 80,980 3,320 2,324
    14 84,300 3,456 2,419
    15 87,757 3,598 2,519
    16 91,355 3,746 2,622
    17 95,100 3,899 2,729
    18 98,999 4,059 2,841
    19 103,058 4,225 2,958
    20 107,284 4,399 3,079
    TOTAL $61,682 $43,178
  • 3
    LOCAL CD
    Discover Bank , ★ TOP PICK ★
    Online Bank
    -
    $50,000
    24 Month
    4.30%
    7.76x (National Avg. - 0.55%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.30%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,150 1,505
    2 52,150 2,242 1,570
    3 54,392 2,339 1,637
    4 56,731 2,439 1,708
    5 59,171 2,544 1,781
    6 61,715 2,654 1,858
    7 64,369 2,768 1,938
    8 67,137 2,887 2,021
    9 70,024 3,011 2,108
    10 73,035 3,140 2,198
    11 76,175 3,276 2,293
    12 79,451 3,416 2,391
    13 82,867 3,563 2,494
    14 86,430 3,717 2,602
    15 90,147 3,876 2,713
    16 94,023 4,043 2,830
    17 98,066 4,217 2,952
    18 102,283 4,398 3,079
    19 106,681 4,587 3,211
    20 111,268 4,785 3,349
    TOTAL $66,053 $46,237
  • 4
    LOCAL CD
    Discover Bank , ★ TOP PICK ★
    Online Bank
    -
    $50,000
    12 Month
    4.50%
    10.25x (National Avg. - 0.44%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.50%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,250 1,575
    2 52,250 2,351 1,646
    3 54,601 2,457 1,720
    4 57,058 2,568 1,797
    5 59,626 2,683 1,878
    6 62,309 2,804 1,963
    7 65,113 2,930 2,051
    8 68,043 3,062 2,143
    9 71,105 3,200 2,240
    10 74,305 3,344 2,341
    11 77,648 3,494 2,446
    12 81,143 3,651 2,556
    13 84,794 3,816 2,671
    14 88,610 3,987 2,791
    15 92,597 4,167 2,917
    16 96,764 4,354 3,048
    17 101,119 4,550 3,185
    18 105,669 4,755 3,329
    19 110,424 4,969 3,478
    20 115,393 5,193 3,635
    TOTAL $70,586 $49,410


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