FDIC Certificate #: 11201 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:United Community Bank (#20386) Federal Reserve ID: 924227 Date Established: January 01, 1902 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 3 (Interstate: No) OTS Docket #: 14670 FDIC's unique #: 7149 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: January 01, 1934 Last Structure Change Effective Date: August 27, 1999 Last Structure Change Process Date: September 16, 1999 Last Data Update: September 16, 1999 Data Source Date: April 05, 2012
Location
Address: 205 Railroad Avenue, Wakefield, VA 23888 County: Sussex 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): Richmond, VA (#40060) CBSA Metro Statistical Area: Richmond, VA (#40060)
Financial Summary
Total assets: $67.1 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 1998)
Dollar figures in thousands
26Total employees (full-time equivalent)
$67,768Total assets
$2,917Cash and due from depository institutions
$0Interest-bearing balances
$23,151Securities
$3,925Federal funds sold & reverse repurchase agreements
$35,996Net loans & leases
$411Loan loss allowance
$0Trading account assets
$881Bank premises and fixed assets
$13Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$885All other assets
$67,768Total liabilities and capital
$57,888Total liabilities
$55,721Total deposits
$47,798Interest-bearing deposits
$55,721Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$2,167All other liabilities
$9,880Total equity capital
$9,880Total bank equity capital
$9,880Perpetual preferred stock
$0Common stock
$381Surplus
$1,000Undivided profits
Memoranda
$8,499Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$150Earning assets
$0Long-term assets (5+ years)
$407Average Assets, year-to-date
$63,072Average Assets, quarterly
$8,926Volatile liabilities
$66,243Insider loans
$66,994FHLB advances
$8,015Loans and leases held for sale
$822Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$7,187Total unused commitments
$0Restructured Loans and leases
$41,629Derivatives
Income and Expense (December 31, 1998)
Dollar figures in thousands
$4,740Total interest income
$2,104Total interest expense
$2,636Net interest income
$36Provision for loan and lease losses
$304Total noninterest income
$0Fiduciary activities
$245Service charges on deposit accounts
$0Trading account gains & fees
$59Additional noninterest income
$1,665Total noninterest expense
$829Salaries and employee benefits
$214Premises and equipment expense
$622Additional noninterest expense
$1,239Pre-tax net operating income
$0Securities gains (losses)
$287Applicable income taxes
$952Income before extraordinary items
$0Extraordinary gains - net
$952Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$51Sale, conversion, retirement of capital stock, net
$2,078Net operating income
Performance and Condition Ratios (December 31, 1998)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.62%Yield on earning assets
3.38%Cost of funding earning assets
4.24%Net interest margin
0.49%Noninterest income to earning assets
2.68%Noninterest expense to earning assets
1.44%Net operating income to assets
1.44%Return on assets (ROA)
1.87%Pretax return on assets
8.82%Return on equity (ROE)
-10.43%Retained earnings to average equity (YTD only)
0.14%Net charge-offs to loans
70.59%Credit loss provision to net charge-offs
25.00%Efficiency ratio
56,633Assets per employee
2.61%Cash dividends to net income (YTD only)
Condition Ratios (%)
218.28%Loss allowance to loans
1.13%Loss allowance to noncurrent loans
274.00%Noncurrent assets plus other real estate owned to assets
0.24%Noncurrent loans to loans
0.41%Net loans and leases to deposits
64.60%Net loans and leases to core deposits
75.45%Equity capital to assets
14.58%Core capital (leverage) ratio
13.83%Tier 1 risk-based capital ratio
21.97%Total risk-based capital ratio
Memoranda
$24Average assets
$66,243Average earning assets
$10,792Average equity
$62,167Average loans
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