The Bank of Oceana in Oceana, West Virginia (WV)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of November 28, 1994

The Bank of Oceana in Oceana, West Virginia (WV)
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The Bank of Oceana - Overview

General
FDIC Certificate #: 20808
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: First Century Bank, Inc. (#6750)
Federal Reserve ID: 713832
Date Established: September 22, 1972
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Interstate: No)
FDIC's unique #: 14374
Numeric code: 21
Regulator: FDIC
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: September 22, 1972
Last Structure Change Effective Date: November 28, 1994
Last Structure Change Process Date: December 13, 1994
Last Data Update: December 13, 1994
Data Source Date: April 05, 2012
Location
Address: Main Street And Route 85, Oceana, WV 24870
County: Wyoming
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Scott Depot
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
Financial Summary
Total assets: $43.9 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)

Dollar figures in thousands
0Total employees (full-time equivalent)
$27Total assets
$44,872Cash and due from depository institutions
$1,501Interest-bearing balances
$0Securities
$10,707Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$31,242Loan loss allowance
$320Trading account assets
$0Bank premises and fixed assets
$656Other real estate owned
$140Goodwill and other intangibles
$626Life insurance assets
$0All other assets
$0Total liabilities and capital
$44,872Total liabilities
$41,148Total deposits
$39,664Interest-bearing deposits
$34,959Deposits held in domestic offices
39664.00%% insured (estimated)
$98Federal funds purchased & repurchase agreements
$1,337Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$147Total equity capital
$147Total bank equity capital
$3,724Perpetual preferred stock
$0Common stock
$300Surplus
$467Undivided profits
Memoranda
$2,957Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$262Income earned, not collected on loans
$134Earning assets
$41,949Long-term assets (5+ years)
$2,678Average Assets, year-to-date
$44,381Average Assets, quarterly
$45,004Volatile liabilities
$2,562Insider loans
$2,089FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$506Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$3,724Total risk weighted assets
$30,873Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1993)

Dollar figures in thousands
$0Total interest income
$3,045Total interest expense
$1,313Net interest income
$1,732Provision for loan and lease losses
$55Total noninterest income
$247Fiduciary activities
$0Service charges on deposit accounts
$193Trading account gains & fees
$0Additional noninterest income
$54Total noninterest expense
$1,444Salaries and employee benefits
$555Premises and equipment expense
$187Additional noninterest expense
$702Pre-tax net operating income
$480Securities gains (losses)
$8Applicable income taxes
$94Income before extraordinary items
$394Extraordinary gains - net
$0Net income attributable to bank
$394Net charge-offs
-$15Cash dividends
$360Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1993)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
7.34%Cost of funding earning assets
3.16%Net interest margin
4.17%Noninterest income to earning assets
0.60%Noninterest expense to earning assets
3.48%Net operating income to assets
0.87%Return on assets (ROA)
0.89%Pretax return on assets
1.10%Return on equity (ROE)
10.35%Retained earnings to average equity (YTD only)
0.89%Net charge-offs to loans
-0.05%Credit loss provision to net charge-offs
-366.67%Efficiency ratio
72,966Assets per employee
1.66%Cash dividends to net income (YTD only)
Condition Ratios (%)
91.37%Loss allowance to loans
1.01%Loss allowance to noncurrent loans
122.14%Noncurrent assets plus other real estate owned to assets
0.90%Noncurrent loans to loans
0.83%Net loans and leases to deposits
78.77%Net loans and leases to core deposits
81.28%Equity capital to assets
8.30%Core capital (leverage) ratio
8.36%Tier 1 risk-based capital ratio
12.06%Total risk-based capital ratio
Memoranda
$13Average assets
$44,381Average earning assets
$3,807Average equity
$41,508Average loans

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