# COVENANT BANK
CLARKSDALE, MS · FDIC certificate 57039 · asset band <$300M · latest filing 2015-12 · stopped filing (departed)

**Verdict on the desk:** this could be *funding-stretched*. Composite score 5 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $222.1M | |
| Deposits | $170.8M | |
| Loans and leases | $174.9M | |
| Total equity | $25.1M | |
| Loans / deposits | 101.17% (p93 of band) | 73.15% |
| Liquid assets / assets | 10.99% (p6 of band) | |
| Uninsured deposits / deposits | 18.79% (p69 of band) | 14.12% |
| Brokered deposits | 1.24% | |
| Wholesale funding | 11.62% (p86 of band) | |
| FHLB advances / assets | 9.07% | |
| Tier 1 leverage | 11.00% (p56 of band) | 10.64% |
| Unrealized securities loss / equity | -0.48% (p19 of band) | 0.27% |
| AOCI / equity | -0.24% (p38 of band) | |
| ROA (annualized) | 0.28% (p15 of band) | 0.82% |
| Net interest margin | 4.34% (p84 of band) | 3.64% |
| Efficiency ratio | 86.35% (p80 of band) | |
| Noncurrent loans | 2.15% (p83 of band) | 0.67% |
| Net charge-offs (annualized) | 0.51% (p95 of band) | |
| Reserve coverage of noncurrent | 55.15% | |
| Real estate % of loans | 68% | |
| Construction % of loans | 61.60% (p85 of band) | |
| Auto loans | $1.5M (0.85% of loans; DQ 1.48%, NCO -0.01%) | |
| Loans to nondepository financials | $490,000 (2% of equity) (p97 of band) | |
| Deposits YoY | -9.8% | |
| Employees | 68 | |

## Flags firing in the latest filing

- **loans exceed deposits** (`liq_ltd`)
- **charge-offs p90** (`aq_nco`)
- **reserve under noncurrent** (`aq_reserve`)
- **deposits shrinking** (`shrink_deposits`)
- **uninsured deposits leaving** (`flight_uninsured`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 3 | wholesale funding >15%, losing money, reserve under noncurrent |  |
| 2011-06 | 3 | charge-offs p90 | reserve under noncurrent |
| 2011-09 | 3 | reserve under noncurrent | charge-offs p90 |
| 2011-12 | 2 |  | wholesale funding >15% |
| 2012-03 | 1 |  | losing money |
| 2012-06 | 1 |  |  |
| 2012-09 | 1 |  |  |
| 2012-12 | 1 |  |  |
| 2013-03 | 1 |  |  |
| 2013-06 | 1 | assets shrinking | reserve under noncurrent |
| 2013-09 | 2 | deposits shrinking |  |
| 2013-12 | 2 | reserve under noncurrent | assets shrinking |
| 2014-03 | 3 | capital falling, charge-offs p90 | deposits shrinking |
| 2014-06 | 3 |  |  |
| 2014-09 | 2 |  | capital falling |
| 2014-12 | 2 |  |  |
| 2015-03 | 4 | deposits shrinking, assets shrinking |  |
| 2015-06 | 4 |  |  |
| 2015-09 | 2 |  | deposits shrinking, assets shrinking |
| 2015-12 | 5 | loans exceed deposits, deposits shrinking, uninsured deposits leaving |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2026-02-18 [List Of Failed Banks: 2009-2026 - Bankrate](https://news.google.com/rss/articles/CBMiZEFVX3lxTFAtbi1TaWMteGEyOHdQbnlXd0tPRzM2WFJQZjdPdzViQTZFLVVHODJRTEdqRWhnMkxIOG5xMUVSWU5iNHZSbVpnQ2Z4TWdiMDVwN2NTdUNGd3dXZ2tGcGZ2VWVJRnM?oc=5) · Bankrate
- 2025-10-27 [David Newton LaVergne Obituary Oct 27, 2025 - wellsfuneralhome.net](https://news.google.com/rss/articles/CBMiakFVX3lxTE45VGNzaWlVSVN0YUE3NlNsUi1IeERMTTVLd0NFeXhRaGM0LTdfb09YVmprcjMyMC1ZRXJKMkN5RWV0ZjFPUFpGejJQN0hROHN0blJhUm5XOU9faUZxejlMQW5Bb19oN1VXX0E?oc=5) · wellsfuneralhome.net
- 2020-11-16 [The Battle to Keep America’s Black Banks Alive - wsj.com](https://news.google.com/rss/articles/CBMimAFBVV95cUxQLVNpMUlKdXI3aFhpVmFrbERZek9nektZcGNWTFlUNWRMVUNJQ2piV0pHM2M1TDRWMG1jaElORTBaTVdRdUE4SU9BR3RFcUZkS2VIeDJkTC1rLXB3RFJ6aHdORzBQaTBOTjlaNmxORExPQzNBeVpKWktWNGpBLUVfWTQ4WUhaY2ItYmp2VHVhN2ZiQlZtellJVQ?oc=5) · wsj.com
- 2013-02-18 [Lawndale’s Covenant Bank shut down by feds - Austin Weekly News](https://news.google.com/rss/articles/CBMijwFBVV95cUxOcHNUeUsyLWYyc0NxN29QeGczMk9ZQ21Bb3BPTGNRMXd3ekNpcDR1RW9WbDJncEw2ckVNSUV0ZDFuNnhzSVAzTTJKQTh6dGRTWENjNGNXWC15cnhtVVBlTGJaMlNMWkFNazdBdk5uWUthekJrWS1pX0cxQjJBV0g0NTdIYlliclJFcjAzOHFXTQ?oc=5) · Austin Weekly News
- 2018-01-30 [On the Move: New hires, promotions, recognition - The Clarion-Ledger](https://news.google.com/rss/articles/CBMiowFBVV95cUxPRDRzX01CMmp0QnNUeE5UVTVTWTExdElqRDJwaVNKUk9uSmlKNlpOREtpSTY4T24tWjlEWlVGNmtqcGhuNkF2NW8yT29UYThWSFJuRmNvT1R2MlJnNC1YMHJHVzgxaWJPMk41MEp1S3B2T0tQa0RjeF9vSVBQSHJxM2V2THpUYWx6akhfQXFqSkFnbnlKU2Q0SnBkSF9TcGl0VmdR?oc=5) · The Clarion-Ledger
- 2021-09-19 [Planters Bank opens in Silo Square - DeSoto County News](https://news.google.com/rss/articles/CBMiiwFBVV95cUxPWTFSS3FNMnhtc2FQV0NTdkwwWTZMRVZ0MDFCRWpKcUdlb3ZYSDgtVXEydmRDRDNJZUx5bDFta3BBQWNTV3Q4NGY0OVZ0VkZoT09ZZlpQTjNiNWVYckRQWXZvVWdpajdla2NfTGpTeVk0cWUxWWoyV0hHUEV4VkVMTGNVWDk1OWJKdkVF?oc=5) · DeSoto County News
- 2022-07-28 [Chicago’s Largest Black Owned Bank has Closed - Shoppe Black](https://news.google.com/rss/articles/CBMiX0FVX3lxTE5VQy1RejhHbkpONEtqLUVLTkxjTkxUdERKazdtOVdodEtBNjFuTHpYbmNKLXZLVTk4ek84MHpzWDU3Vkg3SHhzTk1ycjJOeTI0OWFvbE1HZHN0YUFCZGVZ?oc=5) · Shoppe Black
- 2023-01-21 [Buddy Allen: conservation brings acclaim in Tunica, Miss. - Farm Progress](https://news.google.com/rss/articles/CBMimwFBVV95cUxNZFQyN2xHbWxTVXl6NWJORnVVUjU1X25pRGJ0YVlhajFER19Lc1dhY0ltRU5fTUVjRmV0YzJrWkt5R3lKX01nM2VPQXJ0SVdvcmk0SE5GUzd5SGI4NXBpeUdOc2d5TjZzWVZucEdRT3J3TlNhdmtkRjgzVzZoQ19YVjhkQmNueFRtNTF4ektwUmhOTnNudC1scmQ4Zw?oc=5) · Farm Progress

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=57039 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/15.json (key "57039", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide