Banks | Powell Valley National Bank

Powell Valley National Bank


Powell Valley National Bank is an FDIC insured institution headquartered at 33785 Main Street, Jonesville, VA 24263.
It was founded in 0000 and has approximately $0 billion in assets. Customers can open an account at one of its 7 branches.

Deposit Rates - June 7, 2023

SAVINGS RATES APY MIN
Savings
0.10% $2,500 Compare
CD RATES APY MIN
6 Mo CD
0.65% $10,000 Compare
6 Mo CD
0.65% $100,000 Compare
12 Mo CD
0.75% $10,000 Compare
12 Mo CD
0.75% $100,000 Compare
18 Mo CD
0.90% $10,000 Compare
18 Mo CD
0.90% $100,000 Compare
24 Mo CD
1.00% $10,000 Compare
24 Mo CD
1.00% $100,000 Compare
30 Mo CD
1.10% $10,000 Compare
30 Mo CD
1.10% $100,000 Compare
36 Mo CD
1.15% $10,000 Compare
36 Mo CD
1.15% $100,000 Compare
48 Mo CD
1.20% $10,000 Compare
48 Mo CD
1.20% $100,000 Compare
60 Mo CD
1.30% $10,000 Compare
60 Mo CD
1.30% $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 2023

General Bank Information

FDIC Insured Yes
FDIC Certificate # 6863
Date Established 0000
Assets $ 463.72 million
Loans $ 305.23 million
Deposits $ 421.00 million
Capital $ 39.99 million

Summary Balance Sheet as of December 31, 2022

ASSETS
Cash & Balances due from depository institutions $ 63.87 million
Interest-bearing balances $ 59.21 million
Total securities $ 71.94 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 305.23 million
Loan loss allowance $ 3.94 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 0.87 million
All other assets $ 10.78 million
     Total Assets $ 423.73 million

LIABILITIES
Total deposits $ 421.00 million
      Interest-bearing deposits $ 254.99 million
      Deposits held in domestic offices $ 421.00 million
      % insured (estimated) 65.50%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 2.67 millionn
      Total Liabilities $ 423.73 million
      Shareholders’ Equity $ 39.99 million

Summary Income Statement as of December 31, 2022

INCOME AND EXPENSES
Total Interest Income $ 14.98 million
Total Interest Expense $ 1.34 million
Net interest income $ 13.64 million
Provision for loan and lease losses $ 0.76 million
Total non interest income $ 2.65 million
Total non interest expense $ 11.22 million
Pre-tax Net Operating Income $ 2.28 million

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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Branches

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Powell Valley National 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
    Powell Valley National Bank
    Bank
    VIRGINIA
    $50,000
    6 Month
    0.65%
    2.09x (National Avg. - 0.31%)
    $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
    LOCAL CD
    Discover Bank , ★ TOP PICK ★
    Online Bank
    -
    $50,000
    60 Month
    4.00%
    4.67x (National Avg. - 0.86%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.00%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,000 1,400
    2 52,000 2,080 1,456
    3 54,080 2,163 1,514
    4 56,243 2,250 1,575
    5 58,493 2,340 1,638
    6 60,833 2,433 1,703
    7 63,266 2,531 1,771
    8 65,797 2,632 1,842
    9 68,428 2,737 1,916
    10 71,166 2,847 1,993
    11 74,012 2,960 2,072
    12 76,973 3,079 2,155
    13 80,052 3,202 2,241
    14 83,254 3,330 2,331
    15 86,584 3,463 2,424
    16 90,047 3,602 2,521
    17 93,649 3,746 2,622
    18 97,395 3,896 2,727
    19 101,291 4,052 2,836
    20 105,342 4,214 2,950
    TOTAL $59,556 $41,689
  • 3
    LOCAL CD
    Discover Bank , ★ TOP PICK ★
    Online Bank
    -
    $50,000
    24 Month
    4.30%
    7.26x (National Avg. - 0.59%)
    $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
    4.75%
    10.02x (National Avg. - 0.47%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.75%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,375 1,663
    2 52,375 2,488 1,741
    3 54,863 2,606 1,824
    4 57,469 2,730 1,911
    5 60,199 2,859 2,002
    6 63,058 2,995 2,097
    7 66,053 3,138 2,196
    8 69,191 3,287 2,301
    9 72,477 3,443 2,410
    10 75,920 3,606 2,524
    11 79,526 3,777 2,644
    12 83,304 3,957 2,770
    13 87,261 4,145 2,901
    14 91,406 4,342 3,039
    15 95,747 4,548 3,184
    16 100,295 4,764 3,335
    17 105,059 4,990 3,493
    18 110,050 5,227 3,659
    19 115,277 5,476 3,833
    20 120,753 5,736 4,015
    TOTAL $76,488 $53,542
  • 5
    LOCAL CD
    First Foundation Bank , ★ TOP PICK ★
    Bank
    -
    $50,000
    18 Month
    4.75%
    9.19x (National Avg. - 0.52%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.75%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,375 1,663
    2 52,375 2,488 1,741
    3 54,863 2,606 1,824
    4 57,469 2,730 1,911
    5 60,199 2,859 2,002
    6 63,058 2,995 2,097
    7 66,053 3,138 2,196
    8 69,191 3,287 2,301
    9 72,477 3,443 2,410
    10 75,920 3,606 2,524
    11 79,526 3,777 2,644
    12 83,304 3,957 2,770
    13 87,261 4,145 2,901
    14 91,406 4,342 3,039
    15 95,747 4,548 3,184
    16 100,295 4,764 3,335
    17 105,059 4,990 3,493
    18 110,050 5,227 3,659
    19 115,277 5,476 3,833
    20 120,753 5,736 4,015
    TOTAL $76,488 $53,542
  • 6
    LOCAL CD
    Forbright Bank , ★ TOP PICK ★
    Bank
    -
    $50,000
    12 Month
    5.20%
    10.97x (National Avg. - 0.47%)
    $1,000
    -
    SCENARIO
    Year Rate
    5.20%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,600 1,820
    2 52,600 2,735 1,915
    3 55,335 2,877 2,014
    4 58,213 3,027 2,119
    5 61,240 3,184 2,229
    6 64,424 3,350 2,345
    7 67,774 3,524 2,467
    8 71,298 3,708 2,595
    9 75,006 3,900 2,730
    10 78,906 4,103 2,872
    11 83,009 4,316 3,022
    12 87,326 4,541 3,179
    13 91,867 4,777 3,344
    14 96,644 5,025 3,518
    15 101,669 5,287 3,701
    16 106,956 5,562 3,893
    17 112,518 5,851 4,096
    18 118,369 6,155 4,309
    19 124,524 6,475 4,533
    20 130,999 6,812 4,768
    TOTAL $87,811 $61,468


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