Bay Savings Bank FSB in Newport News, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of August 01, 1994

  • Bay Savings Bank FSB in Newport News, Virginia (VA)
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Bay Savings Bank FSB - Overview

  • General
  • FDIC Certificate #: 31258
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: First Federal of Michigan (#28948)
    Federal Reserve ID: 355278
    Date Established: June 06, 1896
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 6626
    FDIC's unique #: 44092
    Numeric code: 33
    Regulator: OTS
    Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
    FDIC Insured: Yes
    SAIF Insured: Yes
    Insured Savings Institution: Yes
    State Chartered: No
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: August 01, 1994
    Last Structure Change Process Date: November 14, 1994
    Last Data Update: December 20, 1999
    Data Source Date: April 05, 2012
  • Location
  • Address: 2712 Washington Avenue, Newport News, VA 23607
    County: Newport News 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
  • Merger - Without Assistance
    Corrections
  • Financial Summary
  • Total assets: $189.5 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $74Total assets
  • $266,631Cash and due from depository institutions
  • $4,275Interest-bearing balances
  • $5Securities
  • $53,636Federal funds sold & reverse repurchase agreements
  • $0Net loans & leases
  • $180,023Loan loss allowance
  • $864Trading account assets
  • $0Bank premises and fixed assets
  • $2,330Other real estate owned
  • $189Goodwill and other intangibles
  • $11,535Life insurance assets
  • $14,643All other assets
  • $0Total liabilities and capital
  • $266,631Total liabilities
  • $214,554Total deposits
  • $147,452Interest-bearing deposits
  • $147,452Deposits held in domestic offices
  • 147452.00%% insured (estimated)
  • $96Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $66,102Subordinated debt
  • $0All other liabilities
  • $1,000Total equity capital
  • $1,000Total bank equity capital
  • $52,077Perpetual preferred stock
  • $0Common stock
  • $150Surplus
  • $20,465Undivided profits
  • Memoranda
  • $31,462Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,169Income earned, not collected on loans
  • $1,068Earning assets
  • $233,664Long-term assets (5+ years)
  • $0Average Assets, year-to-date
  • $271,923Average Assets, quarterly
  • $267,568Volatile liabilities
  • $76,870Insider loans
  • $55FHLB advances
  • $64,865Loans and leases held for sale
  • $0Unused loan commitments
  • $1,723Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $39,323Total risk weighted assets
  • $112,211Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1993)

  • Dollar figures in thousands
  • $0Total interest income
  • $22,771Total interest expense
  • $10,629Net interest income
  • $12,142Provision for loan and lease losses
  • $0Total noninterest income
  • $2,298Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $0Additional noninterest income
  • $2,298Total noninterest expense
  • $11,807Salaries and employee benefits
  • $2,281Premises and equipment expense
  • $1,316Additional noninterest expense
  • $8,210Pre-tax net operating income
  • $2,633Securities gains (losses)
  • $195Applicable income taxes
  • $3,299Income before extraordinary items
  • -$471Extraordinary gains - net
  • $295Net income attributable to bank
  • -$176Net charge-offs
  • $62Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1993)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 9.72%Cost of funding earning assets
  • 4.54%Net interest margin
  • 5.18%Noninterest income to earning assets
  • 0.98%Noninterest expense to earning assets
  • 5.04%Net operating income to assets
  • -0.22%Return on assets (ROA)
  • -0.06%Pretax return on assets
  • 1.15%Return on equity (ROE)
  • -0.33%Retained earnings to average equity (YTD only)
  • -0.33%Net charge-offs to loans
  • 0.03%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 31,482Assets per employee
  • 3.60%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.48%Loss allowance to noncurrent loans
  • 39.83%Noncurrent assets plus other real estate owned to assets
  • 0.85%Noncurrent loans to loans
  • 1.20%Net loans and leases to deposits
  • 122.09%Net loans and leases to core deposits
  • 131.71%Equity capital to assets
  • 19.53%Core capital (leverage) ratio
  • 15.61%Tier 1 risk-based capital ratio
  • 35.04%Total risk-based capital ratio
  • Memoranda
  • $36Average assets
  • $271,923Average earning assets
  • $52,679Average equity
  • $234,317Average loans

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