Bank of Ferrum in Ferrum, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 16, 1999

  • Bank of Ferrum in Ferrum, Virginia (VA)
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Bank of Ferrum - Overview

  • General
  • FDIC Certificate #: 6843
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Branch Banking and Trust Company of Virginia (#22584)
    Federal Reserve ID: 349820
    Date Established: April 01, 1917
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 5 (Interstate: No)
    OTS Docket #: 11981
    FDIC's unique #: 4602
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: Yes
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: July 16, 1999
    Last Structure Change Process Date: August 11, 1999
    Last Data Update: August 11, 1999
    Data Source Date: April 05, 2012
  • Location
  • Address: 1 Main Street, Ferrum, VA 24088
    County: Franklin
    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
    Core Based Statistical Area (CBSA): Roanoke, VA (#40220)
    CBSA Metro Statistical Area: Roanoke, VA (#40220)
  • Financial Summary
  • Total assets: $158.2 mil

1992 - 1999 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, 1998)

  • Dollar figures in thousands
  • 38Total employees (full-time equivalent)
  • $148,997Total assets
  • $6,519Cash and due from depository institutions
  • $115Interest-bearing balances
  • $31,176Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $106,725Net loans & leases
  • $1,735Loan loss allowance
  • $0Trading account assets
  • $1,692Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $2,885All other assets
  • $148,997Total liabilities and capital
  • $140,392Total liabilities
  • $111,139Total deposits
  • $93,200Interest-bearing deposits
  • $111,139Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $8,246Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $20,063Other borrowed funds
  • $0Subordinated debt
  • $944All other liabilities
  • $8,605Total equity capital
  • $8,605Total bank equity capital
  • $8,605Perpetual preferred stock
  • $0Common stock
  • $2,000Surplus
  • $1,434Undivided profits
  • Memoranda
  • $5,171Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $319Earning assets
  • $0Long-term assets (5+ years)
  • $579Average Assets, year-to-date
  • $138,016Average Assets, quarterly
  • $63,418Volatile liabilities
  • $143,320Insider loans
  • $148,711FHLB advances
  • $24,913Loans and leases held for sale
  • $8,967Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $18,574Total unused commitments
  • $0Restructured Loans and leases
  • $92,586Derivatives

Income and Expense (December 31, 1998)

  • Dollar figures in thousands
  • $10,925Total interest income
  • $5,939Total interest expense
  • $4,986Net interest income
  • $888Provision for loan and lease losses
  • $698Total noninterest income
  • $0Fiduciary activities
  • $308Service charges on deposit accounts
  • $0Trading account gains & fees
  • $390Additional noninterest income
  • $3,421Total noninterest expense
  • $1,182Salaries and employee benefits
  • $352Premises and equipment expense
  • $1,887Additional noninterest expense
  • $1,375Pre-tax net operating income
  • $11Securities gains (losses)
  • $428Applicable income taxes
  • $958Income before extraordinary items
  • $0Extraordinary gains - net
  • $958Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $270Sale, conversion, retirement of capital stock, net
  • $501Net operating income

Performance and Condition Ratios (December 31, 1998)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 8.16%Yield on earning assets
  • 4.43%Cost of funding earning assets
  • 3.72%Net interest margin
  • 0.52%Noninterest income to earning assets
  • 2.55%Noninterest expense to earning assets
  • 0.66%Net operating income to assets
  • 0.67%Return on assets (ROA)
  • 0.97%Pretax return on assets
  • 11.25%Return on equity (ROE)
  • 5.37%Retained earnings to average equity (YTD only)
  • 0.27%Net charge-offs to loans
  • 327.68%Credit loss provision to net charge-offs
  • 8.38%Efficiency ratio
  • 60,186Assets per employee
  • 3.92%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 52.30%Loss allowance to loans
  • 1.60%Loss allowance to noncurrent loans
  • 543.89%Noncurrent assets plus other real estate owned to assets
  • 0.21%Noncurrent loans to loans
  • 0.29%Net loans and leases to deposits
  • 96.03%Net loans and leases to core deposits
  • 112.89%Equity capital to assets
  • 5.78%Core capital (leverage) ratio
  • 5.93%Tier 1 risk-based capital ratio
  • 9.33%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $143,320Average earning assets
  • $8,514Average equity
  • $133,933Average loans

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