FDIC Certificate #: 34442 Status: Inactive Closing history: Absorption - Without Assistance Acquiring institution:Southern Financial Bank (#32470) Federal Reserve ID: 2556882 Date Established: May 20, 1997 Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 5 (Interstate: No) FDIC's unique #: 57206 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: May 20, 1997 Last Structure Change Effective Date: August 15, 2002 Last Structure Change Process Date: October 29, 2002 Last Data Update: October 29, 2002 Data Source Date: April 05, 2012
Location
Address: 8206 Atlee Road, Mechanicsville, VA 23116 County: Hanover 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): Richmond-Petersburg, VA (#6760) Core Based Statistical Area (CBSA): Richmond, VA (#40060) CBSA Metro Statistical Area: Richmond, VA (#40060)
Financial Summary
Total assets: $90.3 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2001)
Dollar figures in thousands
25Total employees (full-time equivalent)
$93,885Total assets
$13,794Cash and due from depository institutions
$11,210Interest-bearing balances
$2,526Securities
$1,571Federal funds sold & reverse repurchase agreements
$73,368Net loans & leases
$831Loan loss allowance
$0Trading account assets
$1,527Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,099All other assets
$93,885Total liabilities and capital
$86,294Total liabilities
$85,799Total deposits
$75,434Interest-bearing deposits
$85,799Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$495All other liabilities
$7,591Total equity capital
$7,591Total bank equity capital
$7,591Perpetual preferred stock
$0Common stock
$3,361Surplus
$6,292Undivided profits
Memoranda
$-2,062Noncurrent loans and leases
$17,045Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$41Earning assets
$0Long-term assets (5+ years)
$368Average Assets, year-to-date
$88,675Average Assets, quarterly
$1,176Volatile liabilities
$86,369Insider loans
$91,913FHLB advances
$8,178Loans and leases held for sale
$1,334Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$17,045Total unused commitments
$0Restructured Loans and leases
$831Derivatives
Income and Expense (December 31, 2001)
Dollar figures in thousands
$6,193Total interest income
$3,378Total interest expense
$2,815Net interest income
$472Provision for loan and lease losses
$1,000Total noninterest income
$0Fiduciary activities
$352Service charges on deposit accounts
$0Trading account gains & fees
$648Additional noninterest income
$2,968Total noninterest expense
$1,295Salaries and employee benefits
$515Premises and equipment expense
$1,158Additional noninterest expense
$375Pre-tax net operating income
$0Securities gains (losses)
$121Applicable income taxes
$254Income before extraordinary items
$0Extraordinary gains - net
$254Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$370Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2001)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.67%Yield on earning assets
4.18%Cost of funding earning assets
3.49%Net interest margin
1.24%Noninterest income to earning assets
3.68%Noninterest expense to earning assets
0.29%Net operating income to assets
0.29%Return on assets (ROA)
0.43%Pretax return on assets
3.41%Return on equity (ROE)
3.41%Retained earnings to average equity (YTD only)
0.56%Net charge-offs to loans
127.57%Credit loss provision to net charge-offs
2.29%Efficiency ratio
77,143Assets per employee
3.76%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.12%Loss allowance to noncurrent loans
2026.83%Noncurrent assets plus other real estate owned to assets
0.04%Noncurrent loans to loans
0.06%Net loans and leases to deposits
85.51%Net loans and leases to core deposits
94.52%Equity capital to assets
8.09%Core capital (leverage) ratio
8.22%Tier 1 risk-based capital ratio
9.84%Total risk-based capital ratio
Memoranda
$11Average assets
$86,369Average earning assets
$7,459Average equity
$80,755Average loans
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