Bank of Lancaster in Kilmarnock, Virginia (VA)



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Table of contents:
Bank of Lancaster
GeneralFDIC Certificate #: 11200
Status: Active
Federal Reserve ID: 34425
Bank Holding Company (Regulatory Top Holder): Bay Banks Of Virginia, Inc. (RSSDID: 2560665, Location: Kilmarnock, VA)
Date Established: November 01, 1930
WWW: http://www.bankoflancaster.com
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 9 (Domestic: 9, Interstate: No)
FDIC's unique #: 7148
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: Commercial Lending Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: October 24, 2008
Last Structure Change Process Date: October 28, 2008
Last Data Update: October 28, 2008
Data Source Date: April 05, 2012
LocationAddress: 100 Main Street, Kilmarnock, VA 22482
County: Lancaster
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
Financial SummaryTotal assets: $314.3 mil
Equity capital: $27.0 mil
Deposits held in domestic offices: $265.6 mil
Return on assets (ROA): 0.10% ($0.3 mil)
Quarterly return on assets: 0.08% ($0.3 mil)
Return on Equity (ROE): 1.19% ($0.3 mil)
Quarterly return on equity: 0.97% ($0.3 mil)
Net income: $0.3 mil
Quarterly Net income: $0.1 mil
Pretax return on assets: 0.09% ($282.9 mil)
Quarterly Pretax return on assets: 0.06% ($188.6 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)116
Total assets$314,347
Cash and due from depository institutions$15,262
Interest-bearing balances$10,369
Securities$41,800
Federal funds sold & reverse repurchase agreements$2,136
Net loans & leases$233,501
Loan loss allowance $3,189
Trading account assets$0
Bank premises and fixed assets$11,545
Other real estate owned$2,280
Goodwill and other intangibles$2,808
All other assets$5,015
Life insurance assets$314,347
Total liabilities and capital$287,369
Total liabilities$265,619
Total deposits$221,714
Interest-bearing deposits$265,619
Deposits held in domestic offices$96
% insured (estimated)5277.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$15,000
Other borrowed funds $0
Subordinated debt $1,473
All other liabilities $26,978
Total equity capital$26,978
Total bank equity capital$26,978
Perpetual preferred stock$0
Common stock$5,703
Surplus$3,016
Undivided profits $18,259
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $5,547
Earning assets $35
Long-term assets (5+ years) $1,161
Average Assets, year-to-date $287,806
Average Assets, quarterly $83,444
Volatile liabilities $323,206
Insider loans $317,519
FHLB advances $222,093
Loans and leases held for sale $319,202
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $24,509
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $31,216
Derivatives$4,425
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $14,762
Total interest expense $4,206
Net interest income $10,556
Provision for loan and lease losses $495
Total noninterest income $2,069
Fiduciary activities $0
Service charges on deposit accounts $663
Trading account gains & fees $0
Additional noninterest income $1,406
Total noninterest expense $12,173
Salaries and employee benefits $6,220
Premises and equipment expense $1,343
Additional noninterest expense $4,610
Pre-tax net operating income -$43
Securities gains (losses) $336
Applicable income taxes -$27
Income before extraordinary items $320
Extraordinary gains - net $0
Net income attributable to bank $320
Net charge-offs $0
Cash dividends $320
Sale, conversion, retirement of capital stock, net $537
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.00%
Cost of funding earning assets 1.42%
Net interest margin 3.57%
Noninterest income to earning assets 0.70%
Noninterest expense to earning assets 4.12%
Net operating income to assets -0.00%
Return on assets (ROA) 0.10%
Pretax return on assets 0.09%
Return on equity (ROE) 1.19%
Retained earnings to average equity (YTD only) 1.19%
Net charge-offs to loans 0.22%
Credit loss provision to net charge-offs 92.18%
Efficiency ratio0.84%
Assets per employee$96,317
Cash dividends to net income (YTD only)2.71%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.35%
Noncurrent assets plus other real estate owned to assets 57.49%
Noncurrent loans to loans 2.49%
Net loans and leases to deposits2.34%
Net loans and leases to core deposits 87.91%
Equity capital to assets 90.65%
Core capital (leverage) ratio 8.58%
Tier 1 risk-based capital ratio 7.68%
Total risk-based capital ratio 11.04%
Memoranda
Average assets$12
Average earning assets$323,206
Average equity $26,792
Average loans $295,354
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9 Virginia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
07148Bank Of Lancaster100 Main Street, Kilmarnock, VA 22482November 01, 1930Full Service Brick and Mortar
1224127White Stone Branch708 Rappahannock Drive, White Stone, VA 22578September 24, 1990Full Service Brick and Mortar
2264015Route 3 Northside Branch432 North Main Street, Kilmarnock, VA 22482June 30, 1986Full Service Brick and Mortar
45382Montross Branch15648 Kings Highway, Montross, VA 22520November 05, 1908Full Service Brick and Mortar
5218507Warsaw Branch4935 Richmond Road, Warsaw, VA 22572June 02, 1980Full Service Brick and Mortar
6224136Heathsville Branch6941 Northumberland Highway, Heathsville, VA 22473January 21, 1982Full Service Brick and Mortar
7224131Callao Branch18 Sandy Street, Callao, VA 22435October 15, 1938Full Service Brick and Mortar
9479782Burgess Branch15104 Northumberland Highway, Burgess, VA 22432June 04, 2008Full Service Brick and Mortar
10493359Colonial Beach Branch680 Mckinney Boulevard, Colonial Beach, VA 22443March 11, 2009Full Service Brick and Mortar
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