Bank @LANTEC in city_name, state_name - Detailed Financial Reports, Location

Bank @LANTEC in Virginia Beach, Virginia (VA)
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Bank @LANTEC - Overview

General
FDIC Certificate #: 57730
Status: Active
Federal Reserve ID: 546384
Date Established: January 12, 2004
WWW: http://www.whereibank.com
Trust Powers Granted: No
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Offices: 4 (Domestic: 4, Interstate: No)
OTS Docket #: 17960
FDIC's unique #: 423150
Numeric code: 34
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: No
Subchapter S Corporations: No
Asset Concentration Hierarchy: Mortgage Lending Specialization
Date of Deposit Insurance: January 12, 2004
Last Structure Change Effective Date: July 21, 2011
Last Structure Change Process Date: July 21, 2011
Last Data Update: July 21, 2011
Data Source Date: April 05, 2012
Location
Address: 501 South Independence Boulevard, Virginia Beach, VA 23452
County: Virginia Beach City
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Richmond
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Norfolk-Virginia Beach-Newport News, VA-NC (#5720)
Core Based Statistical Area (CBSA): Virginia Beach-Norfolk-Newport News, VA-NC (#47260)
CBSA Metro Statistical Area: Virginia Beach-Norfolk-Newport News, VA-NC (#47260)
History of Changes
Change in Primary Regulatory Agency
Financial Summary
Total assets: $104.7 mil
Equity capital: $11.9 mil
Deposits held in domestic offices: $87.4 mil
Return on assets (ROA): 0.32% ($0.3 mil)
Quarterly return on assets: 1.83% ($1.9 mil)
Return on Equity (ROE): 2.92% ($0.4 mil)
Quarterly return on equity: 16.51% ($2.0 mil)
Net income: $0.3 mil
Quarterly Net income: $0.5 mil
Pretax return on assets: 0.33% ($345.6 mil)
Quarterly Pretax return on assets: 2.18% ($2,283.3 mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

Dollar figures in thousands
31Total employees (full-time equivalent)
$104,740Total assets
$10,008Cash and due from depository institutions
$9,476Interest-bearing balances
$21,952Securities
$0Federal funds sold & reverse repurchase agreements
$63,771Net loans & leases
$674Loan loss allowance
$0Trading account assets
$3,093Bank premises and fixed assets
$1,943Other real estate owned
$44Goodwill and other intangibles
$104,740Life insurance assets
$3,929All other assets
$92,806Total liabilities and capital
$87,428Total liabilities
$80,853Total deposits
$87,428Interest-bearing deposits
$98Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$4,750Trading liabilities
$0Other borrowed funds
$628Subordinated debt
$11,934All other liabilities
$11,934Total equity capital
$11,934Total bank equity capital
$0Perpetual preferred stock
$0Common stock
$0Surplus
$11,934Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$1,655Income earned, not collected on loans
$0Earning assets
$249Long-term assets (5+ years)
$95,199Average Assets, year-to-date
$0Average Assets, quarterly
$104,721Volatile liabilities
$105,709Insider loans
$66,282FHLB advances
$104,324Loans and leases held for sale
$213Unused loan commitments
$0Tier 1 (core) risk-based capital
$11,518Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$9,255Restructured Loans and leases
$938Derivatives

Income and Expense (December 31, 2011)

Dollar figures in thousands
$3,899Total interest income
$1,063Total interest expense
$2,836Net interest income
$695Provision for loan and lease losses
$3,152Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$3,152Additional noninterest income
$4,990Total noninterest expense
$1,902Salaries and employee benefits
$614Premises and equipment expense
$2,474Additional noninterest expense
$303Pre-tax net operating income
$40Securities gains (losses)
$5Applicable income taxes
$338Income before extraordinary items
$0Extraordinary gains - net
$338Net income attributable to bank
$0Net charge-offs
$338Cash dividends
$476Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 2011)

Dollar figures in thousands
Performance Ratios (%, annualized)
4.16%Yield on earning assets
1.13%Cost of funding earning assets
3.03%Net interest margin
3.36%Noninterest income to earning assets
5.32%Noninterest expense to earning assets
0.28%Net operating income to assets
0.32%Return on assets (ROA)
0.33%Pretax return on assets
2.92%Return on equity (ROE)
2.92%Retained earnings to average equity (YTD only)
0.73%Net charge-offs to loans
146.01%Credit loss provision to net charge-offs
2.10%Efficiency ratio
83,066Assets per employee
3.38%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.05%Loss allowance to noncurrent loans
40.73%Noncurrent assets plus other real estate owned to assets
3.44%Noncurrent loans to loans
2.57%Net loans and leases to deposits
72.94%Net loans and leases to core deposits
74.93%Equity capital to assets
11.39%Core capital (leverage) ratio
11.04%Tier 1 risk-based capital ratio
17.38%Total risk-based capital ratio
Memoranda
$18Average assets
$104,721Average earning assets
$11,576Average equity
$93,748Average loans

List of branches

4 Virginia Branches as of April 05, 2012

No	ID	Name	Address	Established	Service Type
0	423150	Bank @lantec	501 South Independence Boulevard, Virginia Beach, VA 23452	January 12, 2004	Full Service Brick and Mortar
1	427183	Greenbrier	1580 Crossways Blvd., Chesapeake, VA 23320	January 12, 2004	Full Service Brick and Mortar
2	427184	Tidewater Branch	7862 Tidewater Drive, Suite 101, Norfolk, VA 23505	January 12, 2004	Full Service Brick and Mortar
3	492579	Virginia Beach Branch	998 Independence Blvd, Virginia Beach, VA 23455	July 27, 2007	Full Service Brick and Mortar

Bank @LANTEC in Virginia Beach, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

Bank @LANTEC - Overview

Assets and Liabilities (December 31, 2011)

Income and Expense (December 31, 2011)

Performance and Condition Ratios (December 31, 2011)

List of branches

Comment about this bank, ask questions, or add new information about it:

Bank @LANTEC in Virginia Beach, Virginia (VA)Overview, Financial Summary, Detailed Financial Reports, Branches

Bank @LANTEC - Overview

Assets and Liabilities (December 31, 2011)

Income and Expense (December 31, 2011)

Performance and Condition Ratios (December 31, 2011)

List of branches

Comment about this bank, ask questions, or add new information about it:

Bank @LANTEC in Virginia Beach, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches