FDIC Certificate #: 34199 Status: Inactive Closing history: Consolidated - Without Assistance Acquiring institution:Carter Bank & Trust (#58596) Federal Reserve ID: 2187101 Date Established: July 01, 1996 Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 8 (Interstate: No) FDIC's unique #: 56857 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: No Date of Deposit Insurance: July 01, 1996 Last Structure Change Effective Date: December 30, 2006 Last Structure Change Process Date: January 10, 2007 Last Data Update: January 10, 2007 Data Source Date: April 05, 2012
Location
Address: 17 Frontier Drive, Staunton, VA 24402 County: Augusta 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 Core Based Statistical Area (CBSA): Staunton-Waynesboro, VA (#44420) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $116.9 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2005)
Dollar figures in thousands
51Total employees (full-time equivalent)
$117,160Total assets
$15,855Cash and due from depository institutions
$11,386Interest-bearing balances
$19,882Securities
$1,800Federal funds sold & reverse repurchase agreements
$73,927Net loans & leases
$929Loan loss allowance
$0Trading account assets
$3,203Bank premises and fixed assets
$487Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$2,006All other assets
$117,160Total liabilities and capital
$109,276Total liabilities
$107,409Total deposits
$90,358Interest-bearing deposits
$107,409Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$131Other borrowed funds
$1,500Subordinated debt
$236All other liabilities
$7,884Total equity capital
$7,884Total bank equity capital
$7,884Perpetual preferred stock
$0Common stock
$1,388Surplus
$4,558Undivided profits
Memoranda
$1,938Noncurrent loans and leases
$1,000Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$2,651Earning assets
$0Long-term assets (5+ years)
$568Average Assets, year-to-date
$106,995Average Assets, quarterly
$24,532Volatile liabilities
$117,186Insider loans
$117,314FHLB advances
$13,899Loans and leases held for sale
$100Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$1,000Total unused commitments
$0Restructured Loans and leases
$2,429Derivatives
Income and Expense (December 31, 2005)
Dollar figures in thousands
$5,670Total interest income
$2,651Total interest expense
$3,019Net interest income
$72Provision for loan and lease losses
$372Total noninterest income
$0Fiduciary activities
$235Service charges on deposit accounts
$0Trading account gains & fees
$137Additional noninterest income
$2,836Total noninterest expense
$1,454Salaries and employee benefits
$545Premises and equipment expense
$837Additional noninterest expense
$483Pre-tax net operating income
$0Securities gains (losses)
$112Applicable income taxes
$371Income before extraordinary items
$0Extraordinary gains - net
$371Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$79Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2005)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.27%Yield on earning assets
2.47%Cost of funding earning assets
2.81%Net interest margin
0.35%Noninterest income to earning assets
2.64%Noninterest expense to earning assets
0.32%Net operating income to assets
0.32%Return on assets (ROA)
0.41%Pretax return on assets
4.82%Return on equity (ROE)
4.82%Retained earnings to average equity (YTD only)
0.11%Net charge-offs to loans
91.14%Credit loss provision to net charge-offs
7.03%Efficiency ratio
83,633Assets per employee
2.30%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.24%Loss allowance to noncurrent loans
35.04%Noncurrent assets plus other real estate owned to assets
2.68%Noncurrent loans to loans
3.54%Net loans and leases to deposits
68.83%Net loans and leases to core deposits
78.95%Equity capital to assets
6.73%Core capital (leverage) ratio
6.76%Tier 1 risk-based capital ratio
10.17%Total risk-based capital ratio
Memoranda
$13Average assets
$117,186Average earning assets
$7,690Average equity
$107,522Average loans
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