Bank of Tazewell County in Tazewell, Virginia (VA)



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Bank of Tazewell County
GeneralFDIC Certificate #: 836
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: The National Bank of Blacksburg (#6821)
Federal Reserve ID: 844820
Date Established: September 01, 1889
WWW: http://www.banktaz.com
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 12 (Interstate: No)
OTS Docket #: 13231
FDIC's unique #: 523
Numeric code: 13
Regulator: FED
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: May 26, 2006
Last Structure Change Process Date: June 01, 2006
Last Data Update: June 01, 2006
Data Source Date: April 05, 2012
LocationAddress: 309 East Main Street, Tazewell, VA 24651
County: Tazewell
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): Bluefield, WV-VA (#14140)
CBSA Micro Statistical Area: Yes
Financial SummaryTotal assets: $343.8 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, 2005)
(Dollar figures in thousands)
Total employees (full-time equivalent)97
Total assets$348,045
Cash and due from depository institutions$18,850
Interest-bearing balances$7,979
Securities$140,891
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$169,060
Loan loss allowance $2,464
Trading account assets$0
Bank premises and fixed assets$2,972
Other real estate owned$376
Goodwill and other intangibles$6,992
All other assets$8,904
Life insurance assets$0
Total liabilities and capital$348,045
Total liabilities$312,237
Total deposits$311,016
Interest-bearing deposits$258,644
Deposits held in domestic offices$311,016
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $275
Subordinated debt $0
All other liabilities $946
Total equity capital$35,808
Total bank equity capital$35,808
Perpetual preferred stock$35,808
Common stock$0
Surplus$2,077
Undivided profits $1,811
Memoranda
Noncurrent loans and leases $31,920
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $17,006
Income earned, not collected on loans $0
Earning assets $432
Long-term assets (5+ years) $0
Average Assets, year-to-date $2,328
Average Assets, quarterly $317,930
Volatile liabilities $159,714
Insider loans $336,950
FHLB advances $345,140
Loans and leases held for sale $54,500
Unused loan commitments $885
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $17,006
Restructured Loans and leases $0
Derivatives$2,464
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Income and Expense (December 31, 2005)
(Dollar figures in thousands)
Total interest income $17,840
Total interest expense $6,536
Net interest income $11,304
Provision for loan and lease losses $569
Total noninterest income $1,593
Fiduciary activities $375
Service charges on deposit accounts $1,025
Trading account gains & fees $0
Additional noninterest income $193
Total noninterest expense $8,199
Salaries and employee benefits $3,684
Premises and equipment expense $814
Additional noninterest expense $3,701
Pre-tax net operating income $4,129
Securities gains (losses) $41
Applicable income taxes $643
Income before extraordinary items $3,527
Extraordinary gains - net $0
Net income attributable to bank $3,527
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $536
Net operating income $1,604
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Performance and Condition Ratios (December 31, 2005)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.69%
Cost of funding earning assets 2.09%
Net interest margin 3.61%
Noninterest income to earning assets 0.51%
Noninterest expense to earning assets 2.62%
Net operating income to assets 1.04%
Return on assets (ROA) 1.05%
Pretax return on assets 1.24%
Return on equity (ROE) 9.92%
Retained earnings to average equity (YTD only) 5.41%
Net charge-offs to loans 0.31%
Credit loss provision to net charge-offs 106.16%
Efficiency ratio8.76%
Assets per employee$58,541
Cash dividends to net income (YTD only)3.59%
Condition Ratios (%)
Loss allowance to loans 45.48%
Loss allowance to noncurrent loans 1.44%
Noncurrent assets plus other real estate owned to assets 570.37%
Noncurrent loans to loans 0.23%
Net loans and leases to deposits0.25%
Net loans and leases to core deposits 54.36%
Equity capital to assets 65.84%
Core capital (leverage) ratio 10.29%
Tier 1 risk-based capital ratio 8.87%
Total risk-based capital ratio 13.90%
Memoranda
Average assets$15
Average earning assets$336,950
Average equity $35,569
Average loans $313,412
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Total Fiduciary and Related Assets (December 31, 2005)
(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$65,279
Number of Accounts1
Personal trust and agency accounts$59,819
Employee benefit-defined contribution accounts$42,076
Employee benefit-defined benefit accounts$0
Other retirement accounts$1,574
Corporate trust and agency accounts$3,534
Investment management agency accounts$0
Other fiduciary accounts$12,635
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts218
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$5,460
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$4,899
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