Bank of Charles Town in Charles Town, West Virginia (WV)

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Bank of Charles Town
GeneralFDIC Certificate #: 9023
Status: Active
Federal Reserve ID: 1014125
Bank Holding Company (Regulatory Top Holder): Potomac Bancshares, Inc. (RSSDID: 2234920, Location: Charles Town, WV)
Date Established: Febuary 20, 1870
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Domestic: 5, Interstate: No)
OTS Docket #: 10239
FDIC's unique #: 5764
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 111 East Washington Street, Charles Town, WV 25414
County: Jefferson
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): 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 ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $286.4 mil
Equity capital: $24.5 mil
Deposits held in domestic offices: $253.1 mil
Return on assets (ROA): -0.32% (-$0.9 mil)
Quarterly return on assets: 0.52% ($1.5 mil)
Return on Equity (ROE): -3.67% (-$0.9 mil)
Quarterly return on equity: 6.06% ($1.5 mil)
Net income: -$0.9 mil
Quarterly Net income: $0.4 mil
Pretax return on assets: -0.73% (-$2,090.9 mil)
Quarterly Pretax return on assets: 0.69% ($1,976.3 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)88
Total assets$286,426
Cash and due from depository institutions$12,933
Interest-bearing balances$9,229
Federal funds sold & reverse repurchase agreements$794
Net loans & leases$202,959
Loan loss allowance $4,484
Trading account assets$0
Bank premises and fixed assets$7,923
Other real estate owned$6,393
Goodwill and other intangibles$0
All other assets$13,886
Life insurance assets$286,426
Total liabilities and capital$261,935
Total liabilities$253,123
Total deposits$216,067
Interest-bearing deposits$253,123
Deposits held in domestic offices$93
% insured (estimated)3415.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$1,523
Other borrowed funds $0
Subordinated debt $3,874
All other liabilities $24,491
Total equity capital$24,491
Total bank equity capital$24,491
Perpetual preferred stock$0
Common stock$3,000
Undivided profits $18,491
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $198
Income earned, not collected on loans $7,447
Earning assets $0
Long-term assets (5+ years) $832
Average Assets, year-to-date $254,520
Average Assets, quarterly $95,783
Volatile liabilities $296,852
Insider loans $289,602
FHLB advances $208,279
Loans and leases held for sale $288,606
Unused loan commitments $6,932
Tier 1 (core) risk-based capital $5,350
Tier 2 risk-based capital $23,703
Total risk weighted assets $0
Total unused commitments $1,582
Restructured Loans and leases $27,466
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $12,571
Total interest expense $2,900
Net interest income $9,671
Provision for loan and lease losses $3,343
Total noninterest income $4,025
Fiduciary activities $769
Service charges on deposit accounts $1,831
Trading account gains & fees $0
Additional noninterest income $1,425
Total noninterest expense $12,508
Salaries and employee benefits $4,969
Premises and equipment expense $1,541
Additional noninterest expense $5,998
Pre-tax net operating income -$2,155
Securities gains (losses) $0
Applicable income taxes -$1,219
Income before extraordinary items -$936
Extraordinary gains - net $0
Net income attributable to bank -$936
Net charge-offs $0
Cash dividends -$936
Sale, conversion, retirement of capital stock, net $3,871
Net operating income $68
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.74%
Cost of funding earning assets 1.09%
Net interest margin 3.64%
Noninterest income to earning assets 1.52%
Noninterest expense to earning assets 4.71%
Net operating income to assets -0.32%
Return on assets (ROA) -0.32%
Pretax return on assets -0.73%
Return on equity (ROE) -3.67%
Retained earnings to average equity (YTD only) -3.94%
Net charge-offs to loans 1.83%
Credit loss provision to net charge-offs 86.36%
Efficiency ratio0.31%
Assets per employee$91,326
Cash dividends to net income (YTD only)3.25%
Condition Ratios (%)
Loss allowance to loans -7.26%
Loss allowance to noncurrent loans 2.16%
Noncurrent assets plus other real estate owned to assets 60.21%
Noncurrent loans to loans 4.83%
Net loans and leases to deposits3.59%
Net loans and leases to core deposits 80.18%
Equity capital to assets 88.06%
Core capital (leverage) ratio 8.55%
Tier 1 risk-based capital ratio 8.21%
Total risk-based capital ratio 11.38%
Average assets$13
Average earning assets$296,852
Average equity $25,471
Average loans $265,350
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$90,789
Number of Accounts1
Personal trust and agency accounts$59,936
Employee benefit-defined contribution accounts$52,382
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$7,553
Investment management agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$1
Number of Accounts243
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$7,553
Employee benefit-defined benefit accounts$0
Other retirement accounts$30,853
Corporate trust and agency accounts$30,649
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$204
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5 West Virginia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
05764Bank Of Charles Town111 East Washington Street, Charles Town, WV 25414Febuary 20, 1870Full Service Brick and Mortar
115320Harpers Ferry Branch1318 Washington Street, Harpers Ferry, WV 25425July 17, 1975Full Service Brick and Mortar
2219307Kearneysville Branch5480 Charles Town Road, Kearneysville, WV 25430April 10, 1985Full Service Brick and Mortar
3363626Martinsburg Branch9738 Tuscarora Pike, Martinsburg, WV 25403July 12, 2001Full Service Brick and Mortar
4419323Hedgesville Branch119 Cowardly Lion Drive, Hedgesville, WV 25427June 23, 2003Full Service Brick and Mortar
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