FDIC Certificate #: 6906 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:First Virginia Bank-Southwest (#20877) Federal Reserve ID: 674728 Date Established: Febuary 07, 1907 Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 6 (Interstate: No) FDIC's unique #: 4642 Numeric code: 13 Regulator: FED Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes Insured commercial Banks: Yes FDIC Insured: Yes Oakar Institutions: Yes State Chartered: Yes Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: March 06, 1999 Last Structure Change Process Date: March 17, 1999 Last Data Update: March 17, 1999 Data Source Date: April 05, 2012
Location
Address: 228 Franklin Street, Rocky Mount, VA 24151 County: Franklin 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): Roanoke, VA (#40220) CBSA Metro Statistical Area: Roanoke, VA (#40220)
Financial Summary
Total assets: $139.2 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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
52Total employees (full-time equivalent)
$139,190Total assets
$3,349Cash and due from depository institutions
$0Interest-bearing balances
$39,994Securities
$1,500Federal funds sold & reverse repurchase agreements
$91,745Net loans & leases
$1,034Loan loss allowance
$0Trading account assets
$1,164Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,438All other assets
$139,190Total liabilities and capital
$128,843Total liabilities
$127,809Total deposits
$111,293Interest-bearing deposits
$127,809Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$1,034All other liabilities
$10,347Total equity capital
$10,347Total bank equity capital
$10,347Perpetual preferred stock
$0Common stock
$2,000Surplus
$2,000Undivided profits
Memoranda
$6,347Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$337Earning assets
$0Long-term assets (5+ years)
$335Average Assets, year-to-date
$133,239Average Assets, quarterly
$54,616Volatile liabilities
$135,376Insider loans
$138,624FHLB advances
$14,188Loans and leases held for sale
$1,037Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$15,002Total unused commitments
$0Restructured Loans and leases
$80,347Derivatives
Income and Expense (December 31, 1998)
Dollar figures in thousands
$10,948Total interest income
$4,285Total interest expense
$6,663Net interest income
$198Provision for loan and lease losses
$644Total noninterest income
$0Fiduciary activities
$395Service charges on deposit accounts
$0Trading account gains & fees
$249Additional noninterest income
$3,885Total noninterest expense
$1,608Salaries and employee benefits
$332Premises and equipment expense
$1,945Additional noninterest expense
$3,224Pre-tax net operating income
$1Securities gains (losses)
$1,125Applicable income taxes
$2,100Income before extraordinary items
$0Extraordinary gains - net
$2,100Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$174Sale, conversion, retirement of capital stock, net
$1,840Net operating income
Performance and Condition Ratios (December 31, 1998)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.48%Yield on earning assets
3.32%Cost of funding earning assets
5.16%Net interest margin
0.50%Noninterest income to earning assets
3.01%Noninterest expense to earning assets
1.55%Net operating income to assets
1.55%Return on assets (ROA)
2.38%Pretax return on assets
20.37%Return on equity (ROE)
2.52%Retained earnings to average equity (YTD only)
0.19%Net charge-offs to loans
113.79%Credit loss provision to net charge-offs
19.67%Efficiency ratio
53,168Assets per employee
2.68%Cash dividends to net income (YTD only)
Condition Ratios (%)
87.62%Loss allowance to loans
1.11%Loss allowance to noncurrent loans
306.82%Noncurrent assets plus other real estate owned to assets
0.24%Noncurrent loans to loans
0.36%Net loans and leases to deposits
71.78%Net loans and leases to core deposits
80.75%Equity capital to assets
7.43%Core capital (leverage) ratio
7.47%Tier 1 risk-based capital ratio
12.88%Total risk-based capital ratio
Memoranda
$14Average assets
$135,376Average earning assets
$10,307Average equity
$129,113Average loans
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