The Riggs National Bank of Virginia in Merrifield, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 29, 1996

  • The Riggs National Bank of Virginia in Merrifield, Virginia (VA)
  • Show street view No street view available for this location

The Riggs National Bank of Virginia - Overview

  • General
  • FDIC Certificate #: 19124
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: Riggs Bank National Association (#2095)
    Federal Reserve ID: 364823
    Date Established: May 23, 1964
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 17 (Interstate: No)
    FDIC's unique #: 12956
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: No
    Date of Deposit Insurance: May 23, 1964
    Last Structure Change Effective Date: March 29, 1996
    Last Structure Change Process Date: April 22, 1996
    Last Data Update: April 22, 1996
    Data Source Date: April 05, 2012
  • Location
  • Address: 8315 Lee Highway, Merrifield, VA 22116
    County: Fairfax
    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): Washington, DC-MD-VA-WV (#8840)
    Consolidated Metropolitan Statistical Area (CMSA): Washington-Baltimore, DC-MD-VA-WV (#97)
    Combined Statistical Area (CSA): Washington-Baltimore-Northern Virginia, DC-MD-VA-WV (#548)
    Core Based Statistical Area (CBSA): Washington-Arlington-Alexandria, DC-VA-MD-WV (#47900)
    CBSA Metro Statistical Area: Washington-Arlington-Alexandria, DC-VA-MD-WV (#47900)
    Core Based Statistical Division: Washington-Arlington-Alexandria, DC-VA-MD-WV (#47894)
  • History of Changes
  • Merger - Without Assistance
    Corrections
  • Financial Summary
  • Total assets: $381.8 mil

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

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $98Total assets
  • $381,774Cash and due from depository institutions
  • $10,462Interest-bearing balances
  • $0Securities
  • $73,896Federal funds sold & reverse repurchase agreements
  • $48,700Net loans & leases
  • $235,135Loan loss allowance
  • $2,020Trading account assets
  • $0Bank premises and fixed assets
  • $7,892Other real estate owned
  • $123Goodwill and other intangibles
  • $5,566Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $381,774Total liabilities
  • $344,923Total deposits
  • $338,916Interest-bearing deposits
  • $270,278Deposits held in domestic offices
  • 338916.00%% insured (estimated)
  • $90Federal funds purchased & repurchase agreements
  • $1,570Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $4,437Total equity capital
  • $4,437Total bank equity capital
  • $36,851Perpetual preferred stock
  • $0Common stock
  • $3,201Surplus
  • $17,577Undivided profits
  • Memoranda
  • $16,073Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,067Income earned, not collected on loans
  • $1,565Earning assets
  • $357,731Long-term assets (5+ years)
  • $52,158Average Assets, year-to-date
  • $371,720Average Assets, quarterly
  • $381,197Volatile liabilities
  • $24,845Insider loans
  • $0FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $44,952Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $36,638Total risk weighted assets
  • $198,970Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1995)

  • Dollar figures in thousands
  • $0Total interest income
  • $25,477Total interest expense
  • $11,164Net interest income
  • $14,313Provision for loan and lease losses
  • $0Total noninterest income
  • $6,917Fiduciary activities
  • $1,161Service charges on deposit accounts
  • $2,631Trading account gains & fees
  • $20Additional noninterest income
  • $3,105Total noninterest expense
  • $14,508Salaries and employee benefits
  • $3,078Premises and equipment expense
  • $4,792Additional noninterest expense
  • $6,638Pre-tax net operating income
  • $6,722Securities gains (losses)
  • $0Applicable income taxes
  • $2,333Income before extraordinary items
  • $4,389Extraordinary gains - net
  • $0Net income attributable to bank
  • $4,389Net charge-offs
  • $295Cash dividends
  • $1,674Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1995)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 7.32%Cost of funding earning assets
  • 3.21%Net interest margin
  • 4.11%Noninterest income to earning assets
  • 1.99%Noninterest expense to earning assets
  • 4.17%Net operating income to assets
  • 1.18%Return on assets (ROA)
  • 1.18%Pretax return on assets
  • 1.81%Return on equity (ROE)
  • 12.64%Retained earnings to average equity (YTD only)
  • 7.82%Net charge-offs to loans
  • 0.13%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 68,337Assets per employee
  • 3.90%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 38.14%Loss allowance to loans
  • 0.85%Loss allowance to noncurrent loans
  • 189.32%Noncurrent assets plus other real estate owned to assets
  • 0.31%Noncurrent loans to loans
  • 0.45%Net loans and leases to deposits
  • 69.38%Net loans and leases to core deposits
  • 74.49%Equity capital to assets
  • 9.65%Core capital (leverage) ratio
  • 9.66%Tier 1 risk-based capital ratio
  • 18.41%Total risk-based capital ratio
  • Memoranda
  • $19Average assets
  • $371,720Average earning assets
  • $34,725Average equity
  • $348,256Average loans

Comment about this bank, ask questions, or add new information about it:

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with The Riggs National Bank of Virginia.
Based on public records. Inadvertent errors are possible.
bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents