King George State Bank, Inc. in King George, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 26, 1999

King George State Bank, Inc. in King George, Virginia (VA)
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King George State Bank, Inc. - Overview

General
FDIC Certificate #: 21636
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Union Bank and Trust Company (#11579)
Federal Reserve ID: 99228
Date Established: June 17, 1974
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 2 (Interstate: No)
FDIC's unique #: 14970
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: June 17, 1974
Last Structure Change Effective Date: June 26, 1999
Last Structure Change Process Date: July 07, 1999
Last Data Update: July 07, 1999
Data Source Date: April 05, 2012
Location
Address: State Route 3, King George, VA 22485
County: King George
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)
Financial Summary
Total assets: $76.3 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
21Total employees (full-time equivalent)
$73,632Total assets
$3,591Cash and due from depository institutions
$0Interest-bearing balances
$19,984Securities
$0Federal funds sold & reverse repurchase agreements
$45,365Net loans & leases
$1,358Loan loss allowance
$0Trading account assets
$1,259Bank premises and fixed assets
$119Other real estate owned
$1,671Goodwill and other intangibles
$0Life insurance assets
$1,643All other assets
$73,632Total liabilities and capital
$66,023Total liabilities
$64,811Total deposits
$54,556Interest-bearing deposits
$64,811Deposits held in domestic offices
0.00%% insured (estimated)
$180Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$1,032All other liabilities
$7,609Total equity capital
$7,609Total bank equity capital
$7,609Perpetual preferred stock
$0Common stock
$300Surplus
$2,540Undivided profits
Memoranda
$4,769Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$2,095Earning assets
$0Long-term assets (5+ years)
$361Average Assets, year-to-date
$65,349Average Assets, quarterly
$26,791Volatile liabilities
$68,713Insider loans
$73,645FHLB advances
$8,525Loans and leases held for sale
$610Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$6,576Total risk weighted assets
$2,615Total unused commitments
$0Restructured Loans and leases
$49,067Derivatives

Income and Expense (December 31, 1998)

Dollar figures in thousands
$5,219Total interest income
$2,138Total interest expense
$3,081Net interest income
$1,369Provision for loan and lease losses
$386Total noninterest income
$0Fiduciary activities
$325Service charges on deposit accounts
$0Trading account gains & fees
$61Additional noninterest income
$1,830Total noninterest expense
$814Salaries and employee benefits
$192Premises and equipment expense
$824Additional noninterest expense
$268Pre-tax net operating income
$0Securities gains (losses)
$12Applicable income taxes
$256Income before extraordinary items
$0Extraordinary gains - net
$256Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$155Sale, conversion, retirement of capital stock, net
$283Net operating income

Performance and Condition Ratios (December 31, 1998)

Dollar figures in thousands
Performance Ratios (%, annualized)
8.46%Yield on earning assets
3.47%Cost of funding earning assets
5.00%Net interest margin
0.63%Noninterest income to earning assets
2.97%Noninterest expense to earning assets
0.37%Net operating income to assets
0.37%Return on assets (ROA)
0.39%Pretax return on assets
3.55%Return on equity (ROE)
-0.37%Retained earnings to average equity (YTD only)
0.35%Net charge-offs to loans
883.23%Credit loss provision to net charge-offs
10.56%Efficiency ratio
49,957Assets per employee
3.51%Cash dividends to net income (YTD only)
Condition Ratios (%)
110.55%Loss allowance to loans
2.91%Loss allowance to noncurrent loans
64.82%Noncurrent assets plus other real estate owned to assets
3.01%Noncurrent loans to loans
4.48%Net loans and leases to deposits
70.00%Net loans and leases to core deposits
80.34%Equity capital to assets
10.33%Core capital (leverage) ratio
8.10%Tier 1 risk-based capital ratio
12.02%Total risk-based capital ratio
Memoranda
$13Average assets
$68,713Average earning assets
$7,206Average equity
$61,670Average loans

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