Potomac Bank of Virginia in Fairfax, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of Febuary 16, 2007

  • Potomac Bank of Virginia in Fairfax, Virginia (VA)
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Potomac Bank of Virginia - Overview

  • General
  • FDIC Certificate #: 34807
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Sandy Spring Bank (#4865)
    Federal Reserve ID: 2705121
    Date Established: August 10, 1998
    WWW: http://www.potomacbank.com
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 5 (Interstate: No)
    FDIC's unique #: 61655
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: August 10, 1998
    Last Structure Change Effective Date: Febuary 16, 2007
    Last Structure Change Process Date: April 12, 2007
    Last Data Update: April 12, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 9910 Main Street, Fairfax, VA 22031
    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)
  • Financial Summary
  • Total assets: $263.8 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, 2006)

  • Dollar figures in thousands
  • 55Total employees (full-time equivalent)
  • $263,803Total assets
  • $4,479Cash and due from depository institutions
  • $102Interest-bearing balances
  • $36,945Securities
  • $9,082Federal funds sold & reverse repurchase agreements
  • $201,680Net loans & leases
  • $1,981Loan loss allowance
  • $0Trading account assets
  • $3,554Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $4,302Life insurance assets
  • $8,063All other assets
  • $263,803Total liabilities and capital
  • $237,736Total liabilities
  • $210,036Total deposits
  • $142,895Interest-bearing deposits
  • $210,036Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $18,573Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $7,295Other borrowed funds
  • $0Subordinated debt
  • $1,832All other liabilities
  • $26,067Total equity capital
  • $26,067Total bank equity capital
  • $26,067Perpetual preferred stock
  • $0Common stock
  • $14,246Surplus
  • $6,725Undivided profits
  • Memoranda
  • $5,096Noncurrent loans and leases
  • $57,317Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $120Earning assets
  • $0Long-term assets (5+ years)
  • $1,333Average Assets, year-to-date
  • $247,809Average Assets, quarterly
  • $33,645Volatile liabilities
  • $245,589Insider loans
  • $259,082FHLB advances
  • $76,918Loans and leases held for sale
  • $5,217Unused loan commitments
  • $7,295Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $57,317Total unused commitments
  • $0Restructured Loans and leases
  • $1,982Derivatives

Income and Expense (December 31, 2006)

  • Dollar figures in thousands
  • $15,805Total interest income
  • $6,168Total interest expense
  • $9,637Net interest income
  • $332Provision for loan and lease losses
  • $626Total noninterest income
  • $0Fiduciary activities
  • $140Service charges on deposit accounts
  • $0Trading account gains & fees
  • $486Additional noninterest income
  • $7,130Total noninterest expense
  • $4,040Salaries and employee benefits
  • $1,046Premises and equipment expense
  • $2,044Additional noninterest expense
  • $2,801Pre-tax net operating income
  • -$64Securities gains (losses)
  • $856Applicable income taxes
  • $1,881Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,881Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $6Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2006)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.88%Yield on earning assets
  • 2.68%Cost of funding earning assets
  • 4.19%Net interest margin
  • 0.27%Noninterest income to earning assets
  • 3.10%Noninterest expense to earning assets
  • 0.78%Net operating income to assets
  • 0.77%Return on assets (ROA)
  • 1.11%Pretax return on assets
  • 7.56%Return on equity (ROE)
  • 7.56%Retained earnings to average equity (YTD only)
  • 0.00%Net charge-offs to loans
  • 5533.33%Credit loss provision to net charge-offs
  • 522.17%Efficiency ratio
  • 69,473Assets per employee
  • 4.80%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.97%Loss allowance to noncurrent loans
  • 1650.83%Noncurrent assets plus other real estate owned to assets
  • 0.05%Noncurrent loans to loans
  • 0.06%Net loans and leases to deposits
  • 96.02%Net loans and leases to core deposits
  • 132.95%Equity capital to assets
  • 9.88%Core capital (leverage) ratio
  • 10.26%Tier 1 risk-based capital ratio
  • 11.89%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $245,589Average earning assets
  • $24,887Average equity
  • $229,752Average loans

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