First Community Bank of Southwest Virginia, Inc. in Tazewell, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 30, 1999

First Community Bank of Southwest Virginia, Inc. in Tazewell, Virginia (VA)
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First Community Bank of Southwest Virginia, Inc. - Overview

General
FDIC Certificate #: 23341
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: First Community Bank (#13012)
Federal Reserve ID: 782623
Date Established: Febuary 18, 1981
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 6 (Interstate: No)
FDIC's unique #: 16360
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 18, 1981
Last Structure Change Effective Date: April 30, 1999
Last Structure Change Process Date: May 19, 1999
Last Data Update: May 19, 1999
Data Source Date: April 05, 2012
Location
Address: 643 East Riverside Drive, Tazewell, VA 24651
County: Tazewell
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
Core Based Statistical Area (CBSA): Bluefield, WV-VA (#14140)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $107.0 mil

1992 - 1999 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, 1998)

Dollar figures in thousands
43Total employees (full-time equivalent)
$104,859Total assets
$3,729Cash and due from depository institutions
$0Interest-bearing balances
$14,688Securities
$23,278Federal funds sold & reverse repurchase agreements
$55,316Net loans & leases
$693Loan loss allowance
$0Trading account assets
$2,252Bank premises and fixed assets
$0Other real estate owned
$4,527Goodwill and other intangibles
$0Life insurance assets
$1,069All other assets
$104,859Total liabilities and capital
$94,107Total liabilities
$92,737Total deposits
$80,528Interest-bearing deposits
$92,737Deposits held in domestic offices
0.00%% insured (estimated)
$261Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$1,109All other liabilities
$10,752Total equity capital
$10,752Total bank equity capital
$10,752Perpetual preferred stock
$0Common stock
$2,000Surplus
$5,900Undivided profits
Memoranda
$2,852Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$246Earning assets
$0Long-term assets (5+ years)
$470Average Assets, year-to-date
$93,282Average Assets, quarterly
$24,280Volatile liabilities
$104,736Insider loans
$104,447FHLB advances
$16,468Loans and leases held for sale
$301Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$3,325Total unused commitments
$0Restructured Loans and leases
$54,709Derivatives

Income and Expense (December 31, 1998)

Dollar figures in thousands
$8,117Total interest income
$3,771Total interest expense
$4,346Net interest income
$199Provision for loan and lease losses
$529Total noninterest income
$0Fiduciary activities
$463Service charges on deposit accounts
$0Trading account gains & fees
$66Additional noninterest income
$3,187Total noninterest expense
$1,171Salaries and employee benefits
$316Premises and equipment expense
$1,700Additional noninterest expense
$1,489Pre-tax net operating income
$4Securities gains (losses)
$478Applicable income taxes
$1,015Income before extraordinary items
$0Extraordinary gains - net
$1,015Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$267Sale, conversion, retirement of capital stock, net
$800Net operating income

Performance and Condition Ratios (December 31, 1998)

Dollar figures in thousands
Performance Ratios (%, annualized)
8.81%Yield on earning assets
4.09%Cost of funding earning assets
4.72%Net interest margin
0.57%Noninterest income to earning assets
3.46%Noninterest expense to earning assets
0.97%Net operating income to assets
0.97%Return on assets (ROA)
1.43%Pretax return on assets
9.52%Return on equity (ROE)
2.02%Retained earnings to average equity (YTD only)
0.46%Net charge-offs to loans
74.53%Credit loss provision to net charge-offs
6.32%Efficiency ratio
58,338Assets per employee
2.44%Cash dividends to net income (YTD only)
Condition Ratios (%)
78.82%Loss allowance to loans
1.24%Loss allowance to noncurrent loans
281.71%Noncurrent assets plus other real estate owned to assets
0.23%Noncurrent loans to loans
0.44%Net loans and leases to deposits
59.65%Net loans and leases to core deposits
72.28%Equity capital to assets
10.25%Core capital (leverage) ratio
6.11%Tier 1 risk-based capital ratio
11.14%Total risk-based capital ratio
Memoranda
$12Average assets
$104,736Average earning assets
$10,662Average equity
$92,102Average loans

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