FDIC Certificate #: 26425 Status: Inactive Closing history: Consolidated - Without Assistance Acquiring institution:Carter Bank & Trust (#58596) Federal Reserve ID: 154220 Date Established: October 11, 1985 Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 10 (Interstate: No) FDIC's unique #: 33044 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: October 11, 1985 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: 222 Main Street, South Boston, VA 24592 County: Halifax 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
Financial Summary
Total assets: $245.2 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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
84Total employees (full-time equivalent)
$245,250Total assets
$28,221Cash and due from depository institutions
$16,030Interest-bearing balances
$56,777Securities
$200Federal funds sold & reverse repurchase agreements
$152,154Net loans & leases
$1,656Loan loss allowance
$0Trading account assets
$2,684Bank premises and fixed assets
$1,086Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$4,128All other assets
$245,250Total liabilities and capital
$222,360Total liabilities
$222,042Total deposits
$182,085Interest-bearing deposits
$222,042Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$93Other borrowed funds
$0Subordinated debt
$225All other liabilities
$22,890Total equity capital
$22,890Total bank equity capital
$22,890Perpetual preferred stock
$0Common stock
$3,537Surplus
$15,825Undivided profits
Memoranda
$3,528Noncurrent loans and leases
$623Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$2,513Earning assets
$0Long-term assets (5+ years)
$1,456Average Assets, year-to-date
$225,161Average Assets, quarterly
$36,094Volatile liabilities
$247,213Insider loans
$247,394FHLB advances
$18,909Loans and leases held for sale
$1,000Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$623Total unused commitments
$0Restructured Loans and leases
$1,656Derivatives
Income and Expense (December 31, 2005)
Dollar figures in thousands
$11,705Total interest income
$5,029Total interest expense
$6,676Net interest income
$72Provision for loan and lease losses
$1,179Total noninterest income
$0Fiduciary activities
$691Service charges on deposit accounts
$0Trading account gains & fees
$488Additional noninterest income
$4,936Total noninterest expense
$2,483Salaries and employee benefits
$826Premises and equipment expense
$1,627Additional noninterest expense
$2,847Pre-tax net operating income
$0Securities gains (losses)
$555Applicable income taxes
$2,292Income before extraordinary items
$0Extraordinary gains - net
$2,292Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$5Sale, conversion, retirement of capital stock, net
$708Net operating income
Performance and Condition Ratios (December 31, 2005)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.09%Yield on earning assets
2.19%Cost of funding earning assets
2.90%Net interest margin
0.51%Noninterest income to earning assets
2.15%Noninterest expense to earning assets
0.93%Net operating income to assets
0.93%Return on assets (ROA)
1.15%Pretax return on assets
10.43%Return on equity (ROE)
7.21%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
1440.00%Credit loss provision to net charge-offs
583.80%Efficiency ratio
62,839Assets per employee
2.92%Cash dividends to net income (YTD only)
Condition Ratios (%)
30.89%Loss allowance to loans
1.08%Loss allowance to noncurrent loans
65.90%Noncurrent assets plus other real estate owned to assets
1.47%Noncurrent loans to loans
1.63%Net loans and leases to deposits
68.52%Net loans and leases to core deposits
74.87%Equity capital to assets
9.33%Core capital (leverage) ratio
9.29%Tier 1 risk-based capital ratio
14.84%Total risk-based capital ratio
Memoranda
$16Average assets
$247,213Average earning assets
$21,985Average equity
$230,083Average loans
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