Powell Valley National Bank

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Powell Valley National Bank Locations

Deposit Rates - May 25, 2022

SAVINGS RATES APY MIN
CD RATES APY MIN
6 Mo CD
0.65% $10,000 Compare
6 Mo CD
0.65% $100,000 Compare
MM RATES APY MIN
Money Market
0.10% $2,500 Compare
Money Market
0.10% $10,000 Compare
Money Market
0.10% $25,000 Compare
FIXED IRA RATES APY MIN
Fixed IRA
0.75% $1
INT CHECKING RATES APY MIN
Int Ckg
0.05% $2,500

Overview 2022

General Bank Information

FDIC Insured Yes
FDIC Certificate # 6863
Date Established 1888
Assets $ 430.42 million
Loans $ 247.36 million
Deposits $ 385.24 million
Capital $ 42.34 million

Summary Balance Sheet

ASSETS
Cash & Balances due from depository institutions $ 120.43 million
Interest-bearing balances $ 113.77 million
Total securities $ 40.93 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 247.36 million
Loan loss allowance $ 3.18 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.25 million
Goodwill and other intangibles $ 0.87 million
All other assets $ 9.96 million
     Total Assets $ 388.08 million

LIABILITIES
Total deposits $ 385.24 million
      Interest-bearing deposits $ 225.41 million
      Deposits held in domestic offices $ 385.24 million
      % insured (estimated) 68.38%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 2.84 millionn
      Total Liabilities $ 388.08 million
      Shareholders’ Equity $ 42.34 million

Summary Income Statement

INCOME AND EXPENSES
Total Interest Income $ 12.30 million
Total Interest Expense $ 0.97 million
Net interest income $ 11.33 million
Provision for loan and lease losses $ 0.13 million
Total non interest income $ 2.95 million
Total non interest expense $ 10.85 million
Pre-tax Net Operating Income $ 3.30 million

Powell Valley National Bank is an FDIC insured institution headquartered at 33785 Main Street, Jonesville, VA 24263.
It was founded in 1888 and has approximately $0 billion in assets. Customers can open an account at one of its 7 branches.

Powell Valley National Bank's History

The Powell Valley National Bank opened its doors in 1888 in Jonesville, Virginia. The earliest documented financial statement is dated for the year 1900. At that time the bank showed total assets of $89,000 and a 16.8% capital ratio. Even in its earliest years, the bank was strongly capitalized.

With bank headquarters remaining in Jonesville, Powell Valley National Bank also has branches in Pennington Gap, Wise, Big Stone Gap, Duffield, and Abingdon, Virginia and Kingsport, Tennessee.

With over 130 years of community banking experience, Powell Valley National Bank is the oldest bank in far Southwest Virginia, the 6th oldest bank in Virginia and the 6th oldest bank operating in Tennessee. The bank has prospered through 29 economic recessions, and continues to have one of the strongest capital ratios in the United States. According to the most recent FDIC deposit reports, Powell Valley National Bank is #1 in market deposit share for the Lee, Scott, and Wise county region.

*Should any logos, images or public notes appear on this page,they do so courtesy of Powell Valley National Bank and are not subject to approval of RatesAndInfo.com. RatesAndInfo.com expressly disclaims all responsibility for this content.

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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
    VIRGINIA
    $50,000
    6 Month
    0.65%
    2.43x (National Avg. - 0.27%)
    $10,000
    -
    SCENARIO
    Year Rate
    0.65%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 325 228
    2 50,325 327 229
    3 50,652 329 230
    4 50,981 331 232
    5 51,313 334 233
    6 51,646 336 235
    7 51,982 338 237
    8 52,320 340 238
    9 52,660 342 240
    10 53,002 345 241
    11 53,347 347 243
    12 53,693 349 244
    13 54,042 351 246
    14 54,394 354 247
    15 54,747 356 249
    16 55,103 358 251
    17 55,461 360 252
    18 55,822 363 254
    19 56,185 365 256
    20 56,550 368 257
    TOTAL $6,917 $4,842
  • 2
    ONLINE CD
    Online Bank
    -
    $50,000
    12 Month
    1.30%
    3.22x (National Avg. - 0.40%)
    $5,000
    -
    SCENARIO
    Year Rate
    1.30%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 650 455
    2 50,650 658 461
    3 51,308 667 467
    4 51,975 676 473
    5 52,651 684 479
    6 53,336 693 485
    7 54,029 702 492
    8 54,731 712 498
    9 55,443 721 505
    10 56,164 730 511
    11 56,894 740 518
    12 57,633 749 524
    13 58,383 759 531
    14 59,142 769 538
    15 59,910 779 545
    16 60,689 789 552
    17 61,478 799 559
    18 62,277 810 567
    19 63,087 820 574
    20 63,907 831 582
    TOTAL $14,738 $10,317