Grundy National Bank in Grundy, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Grundy National Bank in Grundy, Virginia (VA)
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Grundy National Bank routing number info

Grundy National Bank - Overview

  • General
  • FDIC Certificate #: 19011
    Status: Active
    Federal Reserve ID: 268828
    Bank Holding Company (Regulatory Top Holder): Gnb Bankshares Corporation (RSSDID: 2630193, Location: Grundy, VA)
    Date Established: January 21, 1964
    WWW: http://www.grundynationalbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 8 (Domestic: 8, Interstate: No)
    FDIC's unique #: 12852
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 21, 1964
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 22112 Riverside Drive, Grundy, VA 24614
    County: Buchanan
    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
  • History of Changes
  • Change in Location
    Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $352.0 mil
    Equity capital: $63.4 mil
    Deposits held in domestic offices: $287.6 mil
    Return on assets (ROA): 1.00% ($3.5 mil)
    Quarterly return on assets: 0.77% ($2.7 mil)
    Return on Equity (ROE): 5.74% ($3.6 mil)
    Quarterly return on equity: 4.18% ($2.6 mil)
    Net income: $3.5 mil
    Quarterly Net income: $0.7 mil
    Pretax return on assets: 1.37% ($4,822.2 mil)
    Quarterly Pretax return on assets: 1.05% ($3,695.9 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, 2011)

  • Dollar figures in thousands
  • 86Total employees (full-time equivalent)
  • $351,988Total assets
  • $54,210Cash and due from depository institutions
  • $45,158Interest-bearing balances
  • $119,205Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $168,535Net loans & leases
  • $3,864Loan loss allowance
  • $0Trading account assets
  • $4,136Bank premises and fixed assets
  • $1,714Other real estate owned
  • $0Goodwill and other intangibles
  • $351,988Life insurance assets
  • $4,188All other assets
  • $288,585Total liabilities and capital
  • $287,604Total liabilities
  • $236,300Total deposits
  • $287,604Interest-bearing deposits
  • $78Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $981Subordinated debt
  • $63,403All other liabilities
  • $63,403Total equity capital
  • $63,403Total bank equity capital
  • $0Perpetual preferred stock
  • $10,000Common stock
  • $10,000Surplus
  • $43,403Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,376Income earned, not collected on loans
  • $0Earning assets
  • $1,546Long-term assets (5+ years)
  • $332,898Average Assets, year-to-date
  • $119,738Average Assets, quarterly
  • $352,197Volatile liabilities
  • $348,144Insider loans
  • $196,026FHLB advances
  • $349,305Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $62,365Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $32,431Restructured Loans and leases
  • $9,452Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $15,924Total interest income
  • $2,637Total interest expense
  • $13,287Net interest income
  • $1,705Provision for loan and lease losses
  • $378Total noninterest income
  • $0Fiduciary activities
  • $467Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$89Additional noninterest income
  • $7,141Total noninterest expense
  • $3,695Salaries and employee benefits
  • $1,071Premises and equipment expense
  • $2,375Additional noninterest expense
  • $4,819Pre-tax net operating income
  • $4Securities gains (losses)
  • $1,314Applicable income taxes
  • $3,509Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,509Net income attributable to bank
  • $0Net charge-offs
  • $3,509Cash dividends
  • $404Sale, conversion, retirement of capital stock, net
  • $1,333Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.79%Yield on earning assets
  • 0.79%Cost of funding earning assets
  • 3.99%Net interest margin
  • 0.11%Noninterest income to earning assets
  • 2.15%Noninterest expense to earning assets
  • 1.00%Net operating income to assets
  • 1.00%Return on assets (ROA)
  • 1.37%Pretax return on assets
  • 5.74%Return on equity (ROE)
  • 3.56%Retained earnings to average equity (YTD only)
  • 0.23%Net charge-offs to loans
  • 422.03%Credit loss provision to net charge-offs
  • 16.15%Efficiency ratio
  • 52,258Assets per employee
  • 4.09%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 37.99%Loss allowance to loans
  • 2.24%Loss allowance to noncurrent loans
  • 280.81%Noncurrent assets plus other real estate owned to assets
  • 0.88%Noncurrent loans to loans
  • 0.80%Net loans and leases to deposits
  • 58.60%Net loans and leases to core deposits
  • 64.67%Equity capital to assets
  • 18.01%Core capital (leverage) ratio
  • 17.85%Tier 1 risk-based capital ratio
  • 31.81%Total risk-based capital ratio
  • Memoranda
  • $33Average assets
  • $352,197Average earning assets
  • $61,176Average equity
  • $332,636Average loans

List of branches

  • 8 Virginia Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    012852Grundy National Bank22112 Riverside Drive, Grundy, VA 24614January 21, 1964Full Service Brick and Mortar
    2247061Riverside Drive BranchU.S. 460 West At Stiltner's Creek, Grundy, VA 24614January 29, 1973Full Service Brick and Mortar
    3247062Hurley BranchVirginia Routes 650 And 643, Hurley, VA 24620Febuary 02, 1976Full Service Brick and Mortar
    4247063Deel BranchRoute 460, Deel, VA 24656December 20, 1982Full Service Brick and Mortar
    6448960Clinch Valley Bank - Subsidiary Of G501 Railroad Avenue, Richlands, VA 24641January 16, 2006Full Service Brick and Mortar
    7453455Abingdon Branch498 Cummings Street, Abingdon, VA 24210May 22, 2006Full Service Brick and Mortar
    8470107Clinch Valley Bank814 West Riverside Drive, North Tazewell, VA 24630November 28, 2007Full Service Brick and Mortar
    9495993Clinch Valley Bank Branch12660 Governor G. C. Peery Highway, Pounding Mill, VA 24637October 05, 2009Full Service Brick and Mortar

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