First Community Bank in Forest, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of August 01, 1998

First Community Bank in Forest, Virginia (VA)
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First Community Bank - Overview

General
FDIC Certificate #: 22800
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Hanover Bank (#27215)
Federal Reserve ID: 421922
Date Established: Febuary 05, 1979
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 7 (Interstate: No)
OTS Docket #: 13307
FDIC's unique #: 15923
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: Febuary 05, 1979
Last Structure Change Effective Date: August 01, 1998
Last Structure Change Process Date: August 12, 1998
Last Data Update: August 12, 1998
Data Source Date: April 05, 2012
Location
Address: U.S. Route 221 And State Route 666, Forest, VA 24551
County: Bedford
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: $167.4 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1997)

Dollar figures in thousands
44Total employees (full-time equivalent)
$157,486Total assets
$4,101Cash and due from depository institutions
$106Interest-bearing balances
$44,505Securities
$0Federal funds sold & reverse repurchase agreements
$103,665Net loans & leases
$1,280Loan loss allowance
$0Trading account assets
$786Bank premises and fixed assets
$0Other real estate owned
$275Goodwill and other intangibles
$0Life insurance assets
$4,154All other assets
$157,486Total liabilities and capital
$146,467Total liabilities
$106,191Total deposits
$85,929Interest-bearing deposits
$106,191Deposits held in domestic offices
0.00%% insured (estimated)
$27,492Federal funds purchased & repurchase agreements
$0Trading liabilities
$11,604Other borrowed funds
$0Subordinated debt
$1,180All other liabilities
$11,019Total equity capital
$11,019Total bank equity capital
$11,019Perpetual preferred stock
$0Common stock
$527Surplus
$5,027Undivided profits
Memoranda
$5,465Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,427Earning assets
$0Long-term assets (5+ years)
$652Average Assets, year-to-date
$148,276Average Assets, quarterly
$54,537Volatile liabilities
$151,669Insider loans
$157,437FHLB advances
$43,873Loans and leases held for sale
$1,941Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$23,934Total unused commitments
$0Restructured Loans and leases
$103,500Derivatives

Income and Expense (December 31, 1997)

Dollar figures in thousands
$11,838Total interest income
$5,882Total interest expense
$5,956Net interest income
$283Provision for loan and lease losses
$1,310Total noninterest income
$0Fiduciary activities
$709Service charges on deposit accounts
$0Trading account gains & fees
$601Additional noninterest income
$4,255Total noninterest expense
$1,440Salaries and employee benefits
$477Premises and equipment expense
$2,338Additional noninterest expense
$2,728Pre-tax net operating income
$114Securities gains (losses)
$945Applicable income taxes
$1,897Income before extraordinary items
$0Extraordinary gains - net
$1,897Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$71Sale, conversion, retirement of capital stock, net
$870Net operating income

Performance and Condition Ratios (December 31, 1997)

Dollar figures in thousands
Performance Ratios (%, annualized)
8.34%Yield on earning assets
4.14%Cost of funding earning assets
4.20%Net interest margin
0.92%Noninterest income to earning assets
3.00%Noninterest expense to earning assets
1.20%Net operating income to assets
1.25%Return on assets (ROA)
1.87%Pretax return on assets
18.56%Return on equity (ROE)
10.05%Retained earnings to average equity (YTD only)
0.07%Net charge-offs to loans
398.59%Credit loss provision to net charge-offs
42.41%Efficiency ratio
57,831Assets per employee
3.58%Cash dividends to net income (YTD only)
Condition Ratios (%)
45.86%Loss allowance to loans
1.22%Loss allowance to noncurrent loans
89.70%Noncurrent assets plus other real estate owned to assets
0.91%Noncurrent loans to loans
1.36%Net loans and leases to deposits
97.62%Net loans and leases to core deposits
113.40%Equity capital to assets
7.00%Core capital (leverage) ratio
6.77%Tier 1 risk-based capital ratio
10.13%Total risk-based capital ratio
Memoranda
$11Average assets
$151,669Average earning assets
$10,223Average equity
$141,919Average loans

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