Greater Atlantic Bank in Reston, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of December 04, 2009

  • Greater Atlantic Bank in Reston, Virginia (VA)
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Greater Atlantic Bank - Overview

  • General
  • FDIC Certificate #: 32583
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: SONABANK (#57968)
    Federal Reserve ID: 633976
    Date Established: May 27, 1887
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 8491
    FDIC's unique #: 45417
    Numeric code: 33
    Regulator: OTS
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: No
    Date of Deposit Insurance: May 27, 1988
    Last Structure Change Effective Date: December 04, 2009
    Last Structure Change Process Date: December 07, 2009
    Last Data Update: December 07, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 10700 Parkridge Boulevard, Suite P50, Reston, VA 20191
    County: Fairfax
    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): Washington, DC-MD-VA-WV (#8840)
    Consolidated Metropolitan Statistical Area (CMSA): Washington-Baltimore, DC-MD-VA-WV (#97)
    Combined Statistical Area (CSA): Washington-Baltimore-Northern Virginia, DC-MD-VA-WV (#548)
    Core Based Statistical Area (CBSA): Washington-Arlington-Alexandria, DC-VA-MD-WV (#47900)
    CBSA Metro Statistical Area: Washington-Arlington-Alexandria, DC-VA-MD-WV (#47900)
    Core Based Statistical Division: Washington-Arlington-Alexandria, DC-VA-MD-WV (#47894)
  • History of Changes
  • Absorption - Assisted
    Corrections
  • Financial Summary
  • Total assets: $203.3 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, 2008)

  • Dollar figures in thousands
  • 49Total employees (full-time equivalent)
  • $215,353Total assets
  • $25,371Cash and due from depository institutions
  • $20,518Interest-bearing balances
  • $35,229Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $147,812Net loans & leases
  • $1,337Loan loss allowance
  • $0Trading account assets
  • $1,827Bank premises and fixed assets
  • $1,331Other real estate owned
  • $156Goodwill and other intangibles
  • $0Life insurance assets
  • $3,627All other assets
  • $215,353Total liabilities and capital
  • $212,045Total liabilities
  • $184,327Total deposits
  • $176,531Interest-bearing deposits
  • $184,327Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $2,012Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $25,000Other borrowed funds
  • $0Subordinated debt
  • $706All other liabilities
  • $3,308Total equity capital
  • $3,308Total bank equity capital
  • $3,308Perpetual preferred stock
  • $0Common stock
  • $2,000Surplus
  • $30,942Undivided profits
  • Memoranda
  • $-29,634Noncurrent loans and leases
  • $94,771Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $4,280Earning assets
  • $489Long-term assets (5+ years)
  • $917Average Assets, year-to-date
  • $203,559Average Assets, quarterly
  • $0Volatile liabilities
  • $221,154Insider loans
  • $208,944FHLB advances
  • $78,538Loans and leases held for sale
  • $149Unused loan commitments
  • $25,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $94,771Total unused commitments
  • $187Restructured Loans and leases
  • $1,337Derivatives

Income and Expense (December 31, 2008)

  • Dollar figures in thousands
  • $11,514Total interest income
  • $7,835Total interest expense
  • $3,679Net interest income
  • $3,668Provision for loan and lease losses
  • $476Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $75Trading account gains & fees
  • $401Additional noninterest income
  • $9,850Total noninterest expense
  • $3,419Salaries and employee benefits
  • $2,359Premises and equipment expense
  • $4,072Additional noninterest expense
  • -$9,363Pre-tax net operating income
  • $0Securities gains (losses)
  • $1,709Applicable income taxes
  • -$11,072Income before extraordinary items
  • $0Extraordinary gains - net
  • -$11,072Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $4,741Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2008)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.52%Yield on earning assets
  • 3.76%Cost of funding earning assets
  • 1.77%Net interest margin
  • 0.23%Noninterest income to earning assets
  • 4.73%Noninterest expense to earning assets
  • -5.01%Net operating income to assets
  • -5.01%Return on assets (ROA)
  • -4.23%Pretax return on assets
  • -99.25%Return on equity (ROE)
  • -99.25%Retained earnings to average equity (YTD only)
  • 3.01%Net charge-offs to loans
  • 77.37%Credit loss provision to net charge-offs
  • -1.20%Efficiency ratio
  • 214,055Assets per employee
  • 4.39%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.90%Loss allowance to noncurrent loans
  • 31.24%Noncurrent assets plus other real estate owned to assets
  • 2.61%Noncurrent loans to loans
  • 2.87%Net loans and leases to deposits
  • 80.19%Net loans and leases to core deposits
  • 111.30%Equity capital to assets
  • 1.54%Core capital (leverage) ratio
  • 4.19%Tier 1 risk-based capital ratio
  • 6.31%Total risk-based capital ratio
  • Memoranda
  • $7Average assets
  • $221,154Average earning assets
  • $11,156Average equity
  • $208,415Average loans

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