FDIC Certificate #: 10371 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Farmers & Merchants Bank - Eastern Shore (#10362) Federal Reserve ID: 839022 Date Established: July 20, 1920 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 6643 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: September 18, 1998 Last Structure Change Process Date: October 06, 1998 Last Data Update: October 06, 1998 Data Source Date: April 05, 2012
Location
Address: 16485 Lankford Highway, Eastville, VA 23347 County: Northampton Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: New York FDIC Field Office: Richmond Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Southeast
Financial Summary
Total assets: $31.1 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Assets and Liabilities (December 31, 1997)
Dollar figures in thousands
9Total employees (full-time equivalent)
$29,739Total assets
$603Cash and due from depository institutions
$0Interest-bearing balances
$5,135Securities
$1,600Federal funds sold & reverse repurchase agreements
$21,812Net loans & leases
$586Loan loss allowance
$0Trading account assets
$157Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$432All other assets
$29,739Total liabilities and capital
$22,985Total liabilities
$22,868Total deposits
$18,612Interest-bearing deposits
$22,868Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$117All other liabilities
$6,754Total equity capital
$6,754Total bank equity capital
$6,754Perpetual preferred stock
$0Common stock
$500Surplus
$2,980Undivided profits
Memoranda
$3,274Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$102Earning assets
$0Long-term assets (5+ years)
$151Average Assets, year-to-date
$28,547Average Assets, quarterly
$4Volatile liabilities
$28,637Insider loans
$29,648FHLB advances
$2,978Loans and leases held for sale
$359Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$1,730Total unused commitments
$0Restructured Loans and leases
$14,604Derivatives
Income and Expense (December 31, 1997)
Dollar figures in thousands
$2,422Total interest income
$678Total interest expense
$1,744Net interest income
$10Provision for loan and lease losses
$52Total noninterest income
$0Fiduciary activities
$33Service charges on deposit accounts
$0Trading account gains & fees
$19Additional noninterest income
$795Total noninterest expense
$532Salaries and employee benefits
$80Premises and equipment expense
$183Additional noninterest expense
$991Pre-tax net operating income
$0Securities gains (losses)
$337Applicable income taxes
$654Income before extraordinary items
$0Extraordinary gains - net
$654Net income attributable to bank
$0Net charge-offs
$0Cash dividends
-$1Sale, conversion, retirement of capital stock, net
$441Net operating income
Performance and Condition Ratios (December 31, 1997)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.83%Yield on earning assets
2.47%Cost of funding earning assets
6.36%Net interest margin
0.19%Noninterest income to earning assets
2.90%Noninterest expense to earning assets
2.28%Net operating income to assets
2.28%Return on assets (ROA)
3.46%Pretax return on assets
9.87%Return on equity (ROE)
3.21%Retained earnings to average equity (YTD only)
-0.00%Net charge-offs to loans
-1000.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
44,265Assets per employee
3.30%Cash dividends to net income (YTD only)
Condition Ratios (%)
67.43%Loss allowance to loans
2.62%Loss allowance to noncurrent loans
574.51%Noncurrent assets plus other real estate owned to assets
0.34%Noncurrent loans to loans
0.46%Net loans and leases to deposits
95.38%Net loans and leases to core deposits
109.66%Equity capital to assets
22.71%Core capital (leverage) ratio
23.39%Tier 1 risk-based capital ratio
46.14%Total risk-based capital ratio
Memoranda
$47Average assets
$28,637Average earning assets
$6,628Average equity
$27,419Average loans
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