FDIC Certificate #: 58283 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Xenith Bank (#57487) Federal Reserve ID: 3390702 Date Established: April 03, 2006 Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 1 (Interstate: No) FDIC's unique #: 445293 Numeric code: 13 Regulator: FED Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: April 03, 2006 Last Structure Change Effective Date: July 29, 2011 Last Structure Change Process Date: August 01, 2011 Last Data Update: August 01, 2011 Data Source Date: April 05, 2012
Location
Address: 9020 Stony Point Parkway, Suite 225, Richmond, VA 23235 County: Richmond City 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): Richmond-Petersburg, VA (#6760) Core Based Statistical Area (CBSA): Richmond, VA (#40060) CBSA Metro Statistical Area: Richmond, VA (#40060)
Financial Summary
Total assets: $83.5 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2010)
Dollar figures in thousands
12Total employees (full-time equivalent)
$107,065Total assets
$25,391Cash and due from depository institutions
$15,106Interest-bearing balances
$0Securities
$0Federal funds sold & reverse repurchase agreements
$78,673Net loans & leases
$4,330Loan loss allowance
$0Trading account assets
$198Bank premises and fixed assets
$1,214Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,589All other assets
$107,065Total liabilities and capital
$103,735Total liabilities
$93,721Total deposits
$91,571Interest-bearing deposits
$93,721Deposits held in domestic offices
99.21%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$9,300Other borrowed funds
$368Subordinated debt
$346All other liabilities
$3,330Total equity capital
$3,330Total bank equity capital
$3,330Perpetual preferred stock
$0Common stock
$3,810Surplus
$16,252Undivided profits
Memoranda
$-16,732Noncurrent loans and leases
$2,959Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$11,388Earning assets
$0Long-term assets (5+ years)
$359Average Assets, year-to-date
$93,779Average Assets, quarterly
$1,544Volatile liabilities
$139,147Insider loans
$118,026FHLB advances
$61,541Loans and leases held for sale
$547Unused loan commitments
$9,300Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$2,959Total unused commitments
$562Restructured Loans and leases
$1,380Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$6,655Total interest income
$2,816Total interest expense
$3,839Net interest income
$5,810Provision for loan and lease losses
$790Total noninterest income
$0Fiduciary activities
$21Service charges on deposit accounts
$0Trading account gains & fees
$769Additional noninterest income
$4,913Total noninterest expense
$2,105Salaries and employee benefits
$465Premises and equipment expense
$2,343Additional noninterest expense
-$6,094Pre-tax net operating income
$75Securities gains (losses)
$0Applicable income taxes
-$6,019Income before extraordinary items
$0Extraordinary gains - net
-$6,019Net income attributable to bank
$0Net charge-offs
-$6,019Cash dividends
$5,313Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.15%Yield on earning assets
2.18%Cost of funding earning assets
2.97%Net interest margin
0.61%Noninterest income to earning assets
3.80%Noninterest expense to earning assets
-4.38%Net operating income to assets
-4.33%Return on assets (ROA)
-4.33%Pretax return on assets
-96.45%Return on equity (ROE)
-96.45%Retained earnings to average equity (YTD only)
5.23%Net charge-offs to loans
109.35%Credit loss provision to net charge-offs
-0.05%Efficiency ratio
106,135Assets per employee
8.92%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
5.22%Loss allowance to noncurrent loans
38.02%Noncurrent assets plus other real estate owned to assets
11.77%Noncurrent loans to loans
13.72%Net loans and leases to deposits
83.94%Net loans and leases to core deposits
244.48%Equity capital to assets
3.11%Core capital (leverage) ratio
2.83%Tier 1 risk-based capital ratio
4.29%Total risk-based capital ratio
Memoranda
$6Average assets
$139,147Average earning assets
$6,241Average equity
$129,231Average loans
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