Bank @LANTEC in Virginia Beach, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Bank @LANTEC in Virginia Beach, Virginia (VA)
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Bank @LANTEC - Overview

  • General
  • FDIC Certificate #: 57730
    Status: Active
    Federal Reserve ID: 546384
    Date Established: January 12, 2004
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 4 (Domestic: 4, Interstate: No)
    OTS Docket #: 17960
    FDIC's unique #: 423150
    Numeric code: 34
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Mortgage Lending Specialization
    Date of Deposit Insurance: January 12, 2004
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 501 South Independence Boulevard, Virginia Beach, VA 23452
    County: Virginia Beach 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): Norfolk-Virginia Beach-Newport News, VA-NC (#5720)
    Core Based Statistical Area (CBSA): Virginia Beach-Norfolk-Newport News, VA-NC (#47260)
    CBSA Metro Statistical Area: Virginia Beach-Norfolk-Newport News, VA-NC (#47260)
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $104.7 mil
    Equity capital: $11.9 mil
    Deposits held in domestic offices: $87.4 mil
    Return on assets (ROA): 0.32% ($0.3 mil)
    Quarterly return on assets: 1.83% ($1.9 mil)
    Return on Equity (ROE): 2.92% ($0.4 mil)
    Quarterly return on equity: 16.51% ($2.0 mil)
    Net income: $0.3 mil
    Quarterly Net income: $0.5 mil
    Pretax return on assets: 0.33% ($345.6 mil)
    Quarterly Pretax return on assets: 2.18% ($2,283.3 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, 2011)

  • Dollar figures in thousands
  • 31Total employees (full-time equivalent)
  • $104,740Total assets
  • $10,008Cash and due from depository institutions
  • $9,476Interest-bearing balances
  • $21,952Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $63,771Net loans & leases
  • $674Loan loss allowance
  • $0Trading account assets
  • $3,093Bank premises and fixed assets
  • $1,943Other real estate owned
  • $44Goodwill and other intangibles
  • $104,740Life insurance assets
  • $3,929All other assets
  • $92,806Total liabilities and capital
  • $87,428Total liabilities
  • $80,853Total deposits
  • $87,428Interest-bearing deposits
  • $98Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $4,750Trading liabilities
  • $0Other borrowed funds
  • $628Subordinated debt
  • $11,934All other liabilities
  • $11,934Total equity capital
  • $11,934Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $11,934Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,655Income earned, not collected on loans
  • $0Earning assets
  • $249Long-term assets (5+ years)
  • $95,199Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $104,721Volatile liabilities
  • $105,709Insider loans
  • $66,282FHLB advances
  • $104,324Loans and leases held for sale
  • $213Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $11,518Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $9,255Restructured Loans and leases
  • $938Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $3,899Total interest income
  • $1,063Total interest expense
  • $2,836Net interest income
  • $695Provision for loan and lease losses
  • $3,152Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $3,152Additional noninterest income
  • $4,990Total noninterest expense
  • $1,902Salaries and employee benefits
  • $614Premises and equipment expense
  • $2,474Additional noninterest expense
  • $303Pre-tax net operating income
  • $40Securities gains (losses)
  • $5Applicable income taxes
  • $338Income before extraordinary items
  • $0Extraordinary gains - net
  • $338Net income attributable to bank
  • $0Net charge-offs
  • $338Cash dividends
  • $476Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.16%Yield on earning assets
  • 1.13%Cost of funding earning assets
  • 3.03%Net interest margin
  • 3.36%Noninterest income to earning assets
  • 5.32%Noninterest expense to earning assets
  • 0.28%Net operating income to assets
  • 0.32%Return on assets (ROA)
  • 0.33%Pretax return on assets
  • 2.92%Return on equity (ROE)
  • 2.92%Retained earnings to average equity (YTD only)
  • 0.73%Net charge-offs to loans
  • 146.01%Credit loss provision to net charge-offs
  • 2.10%Efficiency ratio
  • 83,066Assets per employee
  • 3.38%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.05%Loss allowance to noncurrent loans
  • 40.73%Noncurrent assets plus other real estate owned to assets
  • 3.44%Noncurrent loans to loans
  • 2.57%Net loans and leases to deposits
  • 72.94%Net loans and leases to core deposits
  • 74.93%Equity capital to assets
  • 11.39%Core capital (leverage) ratio
  • 11.04%Tier 1 risk-based capital ratio
  • 17.38%Total risk-based capital ratio
  • Memoranda
  • $18Average assets
  • $104,721Average earning assets
  • $11,576Average equity
  • $93,748Average loans

List of branches

  • 4 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0423150Bank @lantec501 South Independence Boulevard, Virginia Beach, VA 23452January 12, 2004Full Service Brick and Mortar
    1427183Greenbrier1580 Crossways Blvd., Chesapeake, VA 23320January 12, 2004Full Service Brick and Mortar
    2427184Tidewater Branch7862 Tidewater Drive, Suite 101, Norfolk, VA 23505January 12, 2004Full Service Brick and Mortar
    3492579Virginia Beach Branch998 Independence Blvd, Virginia Beach, VA 23455July 27, 2007Full Service Brick and Mortar

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