FDIC Certificate #: 11583 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Premier Bank, Inc. (#34837) Federal Reserve ID: 517423 Date Established: July 31, 1903 Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 2 (Interstate: No) FDIC's unique #: 7401 Numeric code: 13 Regulator: FED Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: April 08, 2011 Last Structure Change Process Date: April 26, 2011 Last Data Update: April 26, 2011 Data Source Date: April 05, 2012
Location
Address: 320 North First Street, Richmond, VA 23219 County: Richmond 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): Richmond-Petersburg, VA (#6760) Core Based Statistical Area (CBSA): Richmond, VA (#40060) CBSA Metro Statistical Area: Richmond, VA (#40060)
Financial Summary
Total assets: $71.5 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2010)
Dollar figures in thousands
23Total employees (full-time equivalent)
$76,621Total assets
$12,483Cash and due from depository institutions
$11,824Interest-bearing balances
$13,660Securities
$257Federal funds sold & reverse repurchase agreements
$44,415Net loans & leases
$244Loan loss allowance
$0Trading account assets
$2,887Bank premises and fixed assets
$1,060Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,859All other assets
$76,621Total liabilities and capital
$69,083Total liabilities
$68,722Total deposits
$52,242Interest-bearing deposits
$68,722Deposits held in domestic offices
95.92%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$361All other liabilities
$7,538Total equity capital
$7,538Total bank equity capital
$7,538Perpetual preferred stock
$0Common stock
$1,391Surplus
$5,083Undivided profits
Memoranda
$1,064Noncurrent loans and leases
$1,233Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$5,295Earning assets
$0Long-term assets (5+ years)
$255Average Assets, year-to-date
$70,156Average Assets, quarterly
$13,936Volatile liabilities
$75,656Insider loans
$74,330FHLB advances
$9,383Loans and leases held for sale
$1,232Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$1,233Total unused commitments
$0Restructured Loans and leases
$244Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$4,033Total interest income
$327Total interest expense
$3,706Net interest income
$167Provision for loan and lease losses
$427Total noninterest income
$0Fiduciary activities
$336Service charges on deposit accounts
$0Trading account gains & fees
$91Additional noninterest income
$2,637Total noninterest expense
$1,064Salaries and employee benefits
$475Premises and equipment expense
$1,098Additional noninterest expense
$1,329Pre-tax net operating income
$0Securities gains (losses)
$451Applicable income taxes
$878Income before extraordinary items
$0Extraordinary gains - net
$878Net income attributable to bank
$0Net charge-offs
$878Cash dividends
-$24Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.93%Yield on earning assets
0.48%Cost of funding earning assets
5.45%Net interest margin
0.63%Noninterest income to earning assets
3.88%Noninterest expense to earning assets
1.16%Net operating income to assets
1.16%Return on assets (ROA)
1.76%Pretax return on assets
12.34%Return on equity (ROE)
12.34%Retained earnings to average equity (YTD only)
-0.05%Net charge-offs to loans
-695.83%Credit loss provision to net charge-offs
0.00%Efficiency ratio
63,804Assets per employee
3.33%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.55%Loss allowance to noncurrent loans
4.61%Noncurrent assets plus other real estate owned to assets
8.29%Noncurrent loans to loans
11.86%Net loans and leases to deposits
64.63%Net loans and leases to core deposits
74.85%Equity capital to assets
9.84%Core capital (leverage) ratio
9.97%Tier 1 risk-based capital ratio
15.86%Total risk-based capital ratio
Memoranda
$16Average assets
$75,656Average earning assets
$7,117Average equity
$67,972Average loans
Total Fiduciary and Related Assets (December 31, 2005)
Dollar figures in thousands
$1Total fiduciary and related assets
1Number of Fiduciary Accounts and Related Asset Accounts
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