Advance Financial Savings Bank, FSB in Wellsburg, West Virginia (WV)



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Advance Financial Savings Bank, FSB
GeneralFDIC Certificate #: 29472
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Parkvale Savings Bank (#30237)
Federal Reserve ID: 562179
Date Established: June 22, 1935
WWW: http://www.advancefinancial.com
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
OTS Docket #: 3507
FDIC's unique #: 42306
Numeric code: 33
Regulator: OTS
Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
FDIC Insured: Yes
SAIF Insured: Yes
Insured Savings Institution: Yes
State Chartered: No
Date of Deposit Insurance: June 22, 1935
Last Structure Change Effective Date: December 31, 2004
Last Structure Change Process Date: January 14, 2005
Last Data Update: January 14, 2005
Data Source Date: April 05, 2012
LocationAddress: 1015 Commerce Street, Wellsburg, WV 26070
County: Brooke
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
Metropolitan Statistical Area (MSA): Steubenville-Weirton, OH-WV (#8080)
Core Based Statistical Area (CBSA): Steubenville-Weirton, OH-WV (#44600)
CBSA Metro Statistical Area: Steubenville-Weirton, OH-WV (#44600)
Financial SummaryTotal assets: $314.0 mil

1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2003)
(Dollar figures in thousands)
Total employees (full-time equivalent)94
Total assets$323,344
Cash and due from depository institutions$6,221
Interest-bearing balances$3,642
Securities$35,761
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$263,493
Loan loss allowance $1,496
Trading account assets$0
Bank premises and fixed assets$4,938
Other real estate owned$752
Goodwill and other intangibles$6,705
All other assets$5,474
Life insurance assets$0
Total liabilities and capital$323,344
Total liabilities$296,209
Total deposits$268,914
Interest-bearing deposits$256,274
Deposits held in domestic offices$268,914
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $26,800
Subordinated debt $0
All other liabilities $495
Total equity capital$27,135
Total bank equity capital$27,135
Perpetual preferred stock$27,135
Common stock$0
Surplus$10
Undivided profits $13,231
Memoranda
Noncurrent loans and leases $13,894
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $22,945
Income earned, not collected on loans $0
Earning assets $1,623
Long-term assets (5+ years) $0
Average Assets, year-to-date $1,259
Average Assets, quarterly $302,896
Volatile liabilities $0
Insider loans $305,488
FHLB advances $324,854
Loans and leases held for sale $72,603
Unused loan commitments $1,584
Tier 1 (core) risk-based capital $26,800
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $22,945
Restructured Loans and leases $0
Derivatives$1,496
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Income and Expense (December 31, 2003)
(Dollar figures in thousands)
Total interest income $16,684
Total interest expense $7,564
Net interest income $9,120
Provision for loan and lease losses $917
Total noninterest income $1,769
Fiduciary activities $0
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $1,769
Total noninterest expense $6,593
Salaries and employee benefits $3,299
Premises and equipment expense $1,491
Additional noninterest expense $1,803
Pre-tax net operating income $3,379
Securities gains (losses) $850
Applicable income taxes $1,435
Income before extraordinary items $2,794
Extraordinary gains - net $0
Net income attributable to bank $2,794
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $400
Net operating income $0
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Performance and Condition Ratios (December 31, 2003)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.81%
Cost of funding earning assets 2.63%
Net interest margin 3.18%
Noninterest income to earning assets 0.62%
Noninterest expense to earning assets 2.30%
Net operating income to assets 0.73%
Return on assets (ROA) 0.91%
Pretax return on assets 1.38%
Return on equity (ROE) 10.80%
Retained earnings to average equity (YTD only) 10.80%
Net charge-offs to loans 0.17%
Credit loss provision to net charge-offs 229.25%
Efficiency ratio10.74%
Assets per employee$58,959
Cash dividends to net income (YTD only)3.44%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 0.56%
Noncurrent assets plus other real estate owned to assets 92.17%
Noncurrent loans to loans 0.73%
Net loans and leases to deposits0.61%
Net loans and leases to core deposits 97.98%
Equity capital to assets 118.10%
Core capital (leverage) ratio 8.39%
Tier 1 risk-based capital ratio 6.58%
Total risk-based capital ratio 9.89%
Memoranda
Average assets$11
Average earning assets$305,488
Average equity $25,877
Average loans $287,153
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