CB&T-Westover Bank, Inc. in Westover, West Virginia (WV)



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CB&T-Westover Bank, Inc.
GeneralFDIC Certificate #: 20738
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: United Bank (#6784)
Federal Reserve ID: 855433
Date Established: July 01, 1972
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Interstate: No)
FDIC's unique #: 14323
Numeric code: 21
Regulator: FDIC
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: July 01, 1972
Last Structure Change Effective Date: September 10, 1993
Last Structure Change Process Date: September 21, 1993
Last Data Update: September 21, 1993
Data Source Date: April 05, 2012
LocationAddress: 176 Holland Avenue, Westover, WV 26502
County: Monongalia
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
Core Based Statistical Area (CBSA): Morgantown, WV (#34060)
CBSA Metro Statistical Area: Morgantown, WV (#34060)
Financial SummaryTotal assets: $63.2 mil
Assets and Liabilities (December 31, 1992)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$34
Cash and due from depository institutions$64,045
Interest-bearing balances$1,791
Securities$4
Federal funds sold & reverse repurchase agreements$17,157
Net loans & leases$3,640
Loan loss allowance $37,518
Trading account assets$524
Bank premises and fixed assets$0
Other real estate owned$1,401
Goodwill and other intangibles$270
All other assets$1,721
Life insurance assets$547
Total liabilities and capital$0
Total liabilities$64,045
Total deposits$57,480
Interest-bearing deposits$56,254
Deposits held in domestic offices$50,052
% insured (estimated)56254.00%
Federal funds purchased & repurchase agreements $99
Trading liabilities$875
Other borrowed funds $0
Subordinated debt $0
All other liabilities $0
Total equity capital$351
Total bank equity capital$351
Perpetual preferred stock$6,565
Common stock$0
Surplus$500
Undivided profits $5,957
Memoranda
Noncurrent loans and leases $108
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $227
Earning assets $201
Long-term assets (5+ years) $58,319
Average Assets, year-to-date $13,248
Average Assets, quarterly $59,554
Volatile liabilities $61,774
Insider loans $7,394
FHLB advances $17
Loans and leases held for sale $0
Unused loan commitments $0
Tier 1 (core) risk-based capital $1,550
Tier 2 risk-based capital $0
Total risk weighted assets $4,844
Total unused commitments $36,685
Restructured Loans and leases $0
Derivatives$0
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Income and Expense (December 31, 1992)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $1,138
Net interest income $502
Provision for loan and lease losses $636
Total noninterest income $15
Fiduciary activities $38
Service charges on deposit accounts $0
Trading account gains & fees $21
Additional noninterest income $0
Total noninterest expense $17
Salaries and employee benefits $413
Premises and equipment expense $201
Additional noninterest expense $60
Pre-tax net operating income $152
Securities gains (losses) $246
Applicable income taxes -$8
Income before extraordinary items $80
Extraordinary gains - net $158
Net income attributable to bank $0
Net charge-offs $158
Cash dividends $4
Sale, conversion, retirement of capital stock, net $50
Net operating income $0
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Performance and Condition Ratios (December 31, 1992)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 2.05%
Net interest margin 0.91%
Noninterest income to earning assets 1.15%
Noninterest expense to earning assets 0.07%
Net operating income to assets 0.75%
Return on assets (ROA) 0.27%
Pretax return on assets 0.27%
Return on equity (ROE) 0.40%
Retained earnings to average equity (YTD only) 3.35%
Net charge-offs to loans 2.29%
Credit loss provision to net charge-offs 0.01%
Efficiency ratio375.00%
Assets per employee$55,638
Cash dividends to net income (YTD only)1.88%
Condition Ratios (%)
Loss allowance to loans 31.65%
Loss allowance to noncurrent loans 1.38%
Noncurrent assets plus other real estate owned to assets 230.84%
Noncurrent loans to loans 0.78%
Net loans and leases to deposits0.60%
Net loans and leases to core deposits 66.69%
Equity capital to assets 75.44%
Core capital (leverage) ratio 10.25%
Tier 1 risk-based capital ratio 7.77%
Total risk-based capital ratio 13.20%
Memoranda
Average assets$14
Average earning assets$59,554
Average equity $4,715
Average loans $55,414
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