FDIC Certificate #: 34200 Status: Inactive Closing history: Consolidated - Without Assistance Acquiring institution:Carter Bank & Trust (#58596) Federal Reserve ID: 1893272 Date Established: July 01, 1996 Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 6 (Interstate: No) FDIC's unique #: 56858 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: No Date of Deposit Insurance: July 01, 1996 Last Structure Change Effective Date: December 30, 2006 Last Structure Change Process Date: January 10, 2007 Last Data Update: January 10, 2007 Data Source Date: April 05, 2012
Location
Address: 2018 Tate Springs Road, Lynchburg, VA 24501 County: Lynchburg 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): Lynchburg, VA (#4640) Core Based Statistical Area (CBSA): Lynchburg, VA (#31340) CBSA Metro Statistical Area: Lynchburg, VA (#31340)
Financial Summary
Total assets: $127.3 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2005)
Dollar figures in thousands
44Total employees (full-time equivalent)
$108,783Total assets
$18,927Cash and due from depository institutions
$11,386Interest-bearing balances
$16,396Securities
$0Federal funds sold & reverse repurchase agreements
$68,266Net loans & leases
$1,009Loan loss allowance
$0Trading account assets
$2,328Bank premises and fixed assets
$772Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$2,094All other assets
$108,783Total liabilities and capital
$98,580Total liabilities
$98,113Total deposits
$75,340Interest-bearing deposits
$98,113Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$264Other borrowed funds
$0Subordinated debt
$203All other liabilities
$10,203Total equity capital
$10,203Total bank equity capital
$10,203Perpetual preferred stock
$0Common stock
$1,182Surplus
$5,651Undivided profits
Memoranda
$3,370Noncurrent loans and leases
$3,815Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$3,266Earning assets
$0Long-term assets (5+ years)
$565Average Assets, year-to-date
$96,048Average Assets, quarterly
$16,205Volatile liabilities
$110,579Insider loans
$114,671FHLB advances
$17,479Loans and leases held for sale
$100Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$3,815Total unused commitments
$0Restructured Loans and leases
$953Derivatives
Income and Expense (December 31, 2005)
Dollar figures in thousands
$5,476Total interest income
$2,155Total interest expense
$3,321Net interest income
$84Provision for loan and lease losses
$423Total noninterest income
$0Fiduciary activities
$225Service charges on deposit accounts
$0Trading account gains & fees
$198Additional noninterest income
$2,612Total noninterest expense
$1,429Salaries and employee benefits
$428Premises and equipment expense
$755Additional noninterest expense
$1,048Pre-tax net operating income
$0Securities gains (losses)
$317Applicable income taxes
$731Income before extraordinary items
$0Extraordinary gains - net
$731Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$113Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2005)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.50%Yield on earning assets
2.16%Cost of funding earning assets
3.33%Net interest margin
0.42%Noninterest income to earning assets
2.62%Noninterest expense to earning assets
0.66%Net operating income to assets
0.66%Return on assets (ROA)
0.95%Pretax return on assets
7.43%Return on equity (ROE)
7.43%Retained earnings to average equity (YTD only)
0.17%Net charge-offs to loans
74.34%Credit loss provision to net charge-offs
10.02%Efficiency ratio
69,765Assets per employee
2.47%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.46%Loss allowance to noncurrent loans
30.89%Noncurrent assets plus other real estate owned to assets
3.71%Noncurrent loans to loans
4.71%Net loans and leases to deposits
69.58%Net loans and leases to core deposits
84.39%Equity capital to assets
9.38%Core capital (leverage) ratio
8.90%Tier 1 risk-based capital ratio
13.39%Total risk-based capital ratio
Memoranda
$15Average assets
$110,579Average earning assets
$9,835Average equity
$99,583Average loans
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