Bank of Ferrum in Ferrum, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 16, 1999

Bank of Ferrum in Ferrum, Virginia (VA)
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Bank of Ferrum - Overview

General
FDIC Certificate #: 6843
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Branch Banking and Trust Company of Virginia (#22584)
Federal Reserve ID: 349820
Date Established: April 01, 1917
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 5 (Interstate: No)
OTS Docket #: 11981
FDIC's unique #: 4602
Numeric code: 13
Regulator: FED
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: July 16, 1999
Last Structure Change Process Date: August 11, 1999
Last Data Update: August 11, 1999
Data Source Date: April 05, 2012
Location
Address: 1 Main Street, Ferrum, VA 24088
County: Franklin
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
Core Based Statistical Area (CBSA): Roanoke, VA (#40220)
CBSA Metro Statistical Area: Roanoke, VA (#40220)
Financial Summary
Total assets: $158.2 mil

1992 - 1999 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, 1998)

Dollar figures in thousands
38Total employees (full-time equivalent)
$148,997Total assets
$6,519Cash and due from depository institutions
$115Interest-bearing balances
$31,176Securities
$0Federal funds sold & reverse repurchase agreements
$106,725Net loans & leases
$1,735Loan loss allowance
$0Trading account assets
$1,692Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$2,885All other assets
$148,997Total liabilities and capital
$140,392Total liabilities
$111,139Total deposits
$93,200Interest-bearing deposits
$111,139Deposits held in domestic offices
0.00%% insured (estimated)
$8,246Federal funds purchased & repurchase agreements
$0Trading liabilities
$20,063Other borrowed funds
$0Subordinated debt
$944All other liabilities
$8,605Total equity capital
$8,605Total bank equity capital
$8,605Perpetual preferred stock
$0Common stock
$2,000Surplus
$1,434Undivided profits
Memoranda
$5,171Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$319Earning assets
$0Long-term assets (5+ years)
$579Average Assets, year-to-date
$138,016Average Assets, quarterly
$63,418Volatile liabilities
$143,320Insider loans
$148,711FHLB advances
$24,913Loans and leases held for sale
$8,967Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$18,574Total unused commitments
$0Restructured Loans and leases
$92,586Derivatives

Income and Expense (December 31, 1998)

Dollar figures in thousands
$10,925Total interest income
$5,939Total interest expense
$4,986Net interest income
$888Provision for loan and lease losses
$698Total noninterest income
$0Fiduciary activities
$308Service charges on deposit accounts
$0Trading account gains & fees
$390Additional noninterest income
$3,421Total noninterest expense
$1,182Salaries and employee benefits
$352Premises and equipment expense
$1,887Additional noninterest expense
$1,375Pre-tax net operating income
$11Securities gains (losses)
$428Applicable income taxes
$958Income before extraordinary items
$0Extraordinary gains - net
$958Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$270Sale, conversion, retirement of capital stock, net
$501Net operating income

Performance and Condition Ratios (December 31, 1998)

Dollar figures in thousands
Performance Ratios (%, annualized)
8.16%Yield on earning assets
4.43%Cost of funding earning assets
3.72%Net interest margin
0.52%Noninterest income to earning assets
2.55%Noninterest expense to earning assets
0.66%Net operating income to assets
0.67%Return on assets (ROA)
0.97%Pretax return on assets
11.25%Return on equity (ROE)
5.37%Retained earnings to average equity (YTD only)
0.27%Net charge-offs to loans
327.68%Credit loss provision to net charge-offs
8.38%Efficiency ratio
60,186Assets per employee
3.92%Cash dividends to net income (YTD only)
Condition Ratios (%)
52.30%Loss allowance to loans
1.60%Loss allowance to noncurrent loans
543.89%Noncurrent assets plus other real estate owned to assets
0.21%Noncurrent loans to loans
0.29%Net loans and leases to deposits
96.03%Net loans and leases to core deposits
112.89%Equity capital to assets
5.78%Core capital (leverage) ratio
5.93%Tier 1 risk-based capital ratio
9.33%Total risk-based capital ratio
Memoranda
$11Average assets
$143,320Average earning assets
$8,514Average equity
$133,933Average loans

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