River City Bank in Mechanicsville, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 14, 2008

River City Bank in Mechanicsville, Virginia (VA)
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River City Bank - Overview

General
FDIC Certificate #: 57743
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Village Bank (#35111)
Federal Reserve ID: 3267185
Date Established: July 01, 2004
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 1 (Interstate: No)
FDIC's unique #: 423302
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: July 01, 2004
Last Structure Change Effective Date: October 14, 2008
Last Structure Change Process Date: November 26, 2008
Last Data Update: November 26, 2008
Data Source Date: April 05, 2012
Location
Address: 6127 Mechanicsville Turnpike, Mechanicsville, VA 23111
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: $149.0 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, 2007)

Dollar figures in thousands
36Total employees (full-time equivalent)
$121,893Total assets
$2,922Cash and due from depository institutions
$1,591Interest-bearing balances
$21,343Securities
$631Federal funds sold & reverse repurchase agreements
$94,802Net loans & leases
$977Loan loss allowance
$0Trading account assets
$891Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,304All other assets
$121,893Total liabilities and capital
$106,395Total liabilities
$104,535Total deposits
$96,963Interest-bearing deposits
$104,535Deposits held in domestic offices
0.00%% insured (estimated)
$1,301Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$559All other liabilities
$15,498Total equity capital
$15,498Total bank equity capital
$15,498Perpetual preferred stock
$0Common stock
$9,006Surplus
$8,833Undivided profits
Memoranda
$-2,341Noncurrent loans and leases
$19,452Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$35Earning assets
$0Long-term assets (5+ years)
$681Average Assets, year-to-date
$118,367Average Assets, quarterly
$26,982Volatile liabilities
$107,442Insider loans
$118,085FHLB advances
$19,621Loans and leases held for sale
$4,694Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$19,452Total unused commitments
$0Restructured Loans and leases
$977Derivatives

Income and Expense (December 31, 2007)

Dollar figures in thousands
$7,828Total interest income
$4,178Total interest expense
$3,650Net interest income
$565Provision for loan and lease losses
$358Total noninterest income
$0Fiduciary activities
$39Service charges on deposit accounts
$0Trading account gains & fees
$319Additional noninterest income
$3,885Total noninterest expense
$1,795Salaries and employee benefits
$581Premises and equipment expense
$1,509Additional noninterest expense
-$442Pre-tax net operating income
$4Securities gains (losses)
$0Applicable income taxes
-$438Income before extraordinary items
$0Extraordinary gains - net
-$438Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$193Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 2007)

Dollar figures in thousands
Performance Ratios (%, annualized)
7.55%Yield on earning assets
4.03%Cost of funding earning assets
3.52%Net interest margin
0.35%Noninterest income to earning assets
3.74%Noninterest expense to earning assets
-0.41%Net operating income to assets
-0.41%Return on assets (ROA)
-0.41%Pretax return on assets
-2.84%Return on equity (ROE)
-2.84%Retained earnings to average equity (YTD only)
0.25%Net charge-offs to loans
292.75%Credit loss provision to net charge-offs
0.64%Efficiency ratio
96,931Assets per employee
3.39%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.02%Loss allowance to noncurrent loans
2791.43%Noncurrent assets plus other real estate owned to assets
0.03%Noncurrent loans to loans
0.04%Net loans and leases to deposits
90.69%Net loans and leases to core deposits
109.96%Equity capital to assets
12.71%Core capital (leverage) ratio
12.84%Tier 1 risk-based capital ratio
15.89%Total risk-based capital ratio
Memoranda
$17Average assets
$107,442Average earning assets
$15,408Average equity
$103,746Average loans

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