Bank of Gassaway in Gassaway, West Virginia (WV)
Overview, Financial Summary, Detailed Financial Reports, Branches

Bank of Gassaway - Overview

  • General
  • FDIC Certificate #: 15397
    Status: Active
    Federal Reserve ID: 491822
    Bank Holding Company (Regulatory Top Holder): Gassaway Bancshares, Inc. (RSSDID: 1137006, Location: Gassaway, WV)
    Date Established: January 01, 1905
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 6 (Domestic: 6, Interstate: No)
    FDIC's unique #: 9715
    Numeric code: 13
    Regulator: FED
    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: All Other Specialization < 1 Billion
    Date of Deposit Insurance: June 29, 1936
    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
  • Location
  • Address: 700 Elk Street, Gassaway, WV 26624
    County: Braxton
    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
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $166.5 mil
    Equity capital: $23.1 mil
    Deposits held in domestic offices: $142.3 mil
    Return on assets (ROA): 0.57% ($1.0 mil)
    Quarterly return on assets: 0.42% ($0.7 mil)
    Return on Equity (ROE): 4.27% ($1.0 mil)
    Quarterly return on equity: 3.06% ($0.7 mil)
    Net income: $1.0 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 0.88% ($1,465.2 mil)
    Quarterly Pretax return on assets: 0.65% ($1,082.3 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
  • 50Total employees (full-time equivalent)
  • $166,502Total assets
  • $11,598Cash and due from depository institutions
  • $99Interest-bearing balances
  • $50,160Securities
  • $10,870Federal funds sold & reverse repurchase agreements
  • $87,382Net loans & leases
  • $1,354Loan loss allowance
  • $0Trading account assets
  • $4,853Bank premises and fixed assets
  • $38Other real estate owned
  • $0Goodwill and other intangibles
  • $166,502Life insurance assets
  • $1,601All other assets
  • $143,411Total liabilities and capital
  • $142,338Total liabilities
  • $107,139Total deposits
  • $142,338Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $1,073Subordinated debt
  • $23,091All other liabilities
  • $23,091Total equity capital
  • $23,091Total bank equity capital
  • $0Perpetual preferred stock
  • $2,000Common stock
  • $2,000Surplus
  • $19,091Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,036Income earned, not collected on loans
  • $0Earning assets
  • $695Long-term assets (5+ years)
  • $148,511Average Assets, year-to-date
  • $41,507Average Assets, quarterly
  • $166,136Volatile liabilities
  • $167,388Insider loans
  • $85,736FHLB advances
  • $167,263Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $22,379Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $2,756Restructured Loans and leases
  • $2,488Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $7,508Total interest income
  • $1,332Total interest expense
  • $6,176Net interest income
  • $114Provision for loan and lease losses
  • $1,169Total noninterest income
  • $0Fiduciary activities
  • $455Service charges on deposit accounts
  • $0Trading account gains & fees
  • $714Additional noninterest income
  • $5,720Total noninterest expense
  • $2,811Salaries and employee benefits
  • $1,122Premises and equipment expense
  • $1,787Additional noninterest expense
  • $1,511Pre-tax net operating income
  • -$52Securities gains (losses)
  • $504Applicable income taxes
  • $955Income before extraordinary items
  • $0Extraordinary gains - net
  • $955Net income attributable to bank
  • $0Net charge-offs
  • $955Cash dividends
  • $121Sale, conversion, retirement of capital stock, net
  • $200Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.06%Yield on earning assets
  • 0.90%Cost of funding earning assets
  • 4.16%Net interest margin
  • 0.79%Noninterest income to earning assets
  • 3.85%Noninterest expense to earning assets
  • 0.60%Net operating income to assets
  • 0.57%Return on assets (ROA)
  • 0.88%Pretax return on assets
  • 4.27%Return on equity (ROE)
  • 3.37%Retained earnings to average equity (YTD only)
  • 0.14%Net charge-offs to loans
  • 94.21%Credit loss provision to net charge-offs
  • 13.43%Efficiency ratio
  • 77,876Assets per employee
  • 3.33%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 20.94%Loss allowance to loans
  • 1.53%Loss allowance to noncurrent loans
  • 130.69%Noncurrent assets plus other real estate owned to assets
  • 0.65%Noncurrent loans to loans
  • 1.17%Net loans and leases to deposits
  • 61.39%Net loans and leases to core deposits
  • 65.64%Equity capital to assets
  • 13.87%Core capital (leverage) ratio
  • 13.38%Tier 1 risk-based capital ratio
  • 26.10%Total risk-based capital ratio
  • Memoranda
  • $27Average assets
  • $166,136Average earning assets
  • $22,383Average equity
  • $148,467Average loans

List of branches

  • 6 West Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    09715Bank Of Gassaway700 Elk Street, Gassaway, WV 26624January 01, 1905Full Service Brick and Mortar
    1233811Off Premise Facility700 Elk Street, Gassaway, WV 26624April 09, 1984Full Service Brick and Mortar
    2233812Sutton BranchRoute 4, Sutton, WV 26601July 15, 1986Full Service Brick and Mortar
    3233813Burnsville BranchSalt Lick Road, Burnsville, WV 26624December 29, 1986Full Service Brick and Mortar
    4233814Clay BranchMain Street, Clay, WV 25043August 31, 1987Full Service Brick and Mortar
    5493370Flatwoods BranchSutton Lane, Sutton, WV 26601September 09, 2008Full Service Brick and Mortar

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