Central Virginia Bank in Powhatan, Virginia (VA)



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Central Virginia Bank
GeneralFDIC Certificate #: 21225
Status: Active
Federal Reserve ID: 436823
Bank Holding Company (Regulatory Top Holder): Central Virginia Bankshares, Inc. (RSSDID: 1140677, Location: Powhatan, VA)
Date Established: September 17, 1973
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 8 (Domestic: 8, Interstate: No)
OTS Docket #: 14110
FDIC's unique #: 14678
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: September 17, 1973
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
LocationAddress: 2351 Anderson Hwy, Powhatan, VA 23139
County: Powhatan
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
Metropolitan Statistical Area (MSA): Richmond-Petersburg, VA (#6760)
Core Based Statistical Area (CBSA): Richmond, VA (#40060)
CBSA Metro Statistical Area: Richmond, VA (#40060)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $394.8 mil
Equity capital: $17.1 mil
Deposits held in domestic offices: $333.4 mil
Return on assets (ROA): 0.26% ($1.0 mil)
Quarterly return on assets: 0.18% ($0.7 mil)
Return on Equity (ROE): 6.10% ($1.0 mil)
Quarterly return on equity: 4.19% ($0.7 mil)
Net income: $1.0 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 0.26% ($1,026.5 mil)
Quarterly Pretax return on assets: 0.18% ($710.7 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)82
Total assets$394,809
Cash and due from depository institutions$7,311
Interest-bearing balances$271
Securities$100,299
Federal funds sold & reverse repurchase agreements$38,859
Net loans & leases$215,093
Loan loss allowance $9,322
Trading account assets$0
Bank premises and fixed assets$8,117
Other real estate owned$6,809
Goodwill and other intangibles$67
All other assets$18,254
Life insurance assets$394,809
Total liabilities and capital$377,689
Total liabilities$333,415
Total deposits$295,649
Interest-bearing deposits$333,415
Deposits held in domestic offices$98
% insured (estimated)1393.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$40,000
Other borrowed funds $0
Subordinated debt $2,881
All other liabilities $17,120
Total equity capital$17,120
Total bank equity capital$17,120
Perpetual preferred stock$0
Common stock$1,000
Surplus$19,672
Undivided profits $-3,552
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $350
Income earned, not collected on loans $24,246
Earning assets $0
Long-term assets (5+ years) $1,263
Average Assets, year-to-date $354,522
Average Assets, quarterly $147,439
Volatile liabilities $401,735
Insider loans $397,756
FHLB advances $250,200
Loans and leases held for sale $394,744
Unused loan commitments $10,625
Tier 1 (core) risk-based capital $5,721
Tier 2 risk-based capital $21,384
Total risk weighted assets $0
Total unused commitments $4,904
Restructured Loans and leases $42,298
Derivatives$3,977
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $16,961
Total interest expense $6,170
Net interest income $10,791
Provision for loan and lease losses $2,360
Total noninterest income $3,059
Fiduciary activities $0
Service charges on deposit accounts $1,381
Trading account gains & fees $0
Additional noninterest income $1,678
Total noninterest expense $12,289
Salaries and employee benefits $4,958
Premises and equipment expense $1,257
Additional noninterest expense $6,074
Pre-tax net operating income -$799
Securities gains (losses) $1,830
Applicable income taxes $0
Income before extraordinary items $1,031
Extraordinary gains - net $0
Net income attributable to bank $1,031
Net charge-offs $0
Cash dividends $1,031
Sale, conversion, retirement of capital stock, net $3,562
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 assets4.69%
Cost of funding earning assets 1.71%
Net interest margin 2.98%
Noninterest income to earning assets 0.85%
Noninterest expense to earning assets 3.40%
Net operating income to assets -0.20%
Return on assets (ROA) 0.26%
Pretax return on assets 0.26%
Return on equity (ROE) 6.10%
Retained earnings to average equity (YTD only) 6.10%
Net charge-offs to loans 1.47%
Credit loss provision to net charge-offs 66.25%
Efficiency ratio0.44%
Assets per employee$88,621
Cash dividends to net income (YTD only)4.81%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 4.15%
Noncurrent assets plus other real estate owned to assets 38.45%
Noncurrent loans to loans 8.70%
Net loans and leases to deposits10.80%
Net loans and leases to core deposits 64.51%
Equity capital to assets 65.22%
Core capital (leverage) ratio 4.34%
Tier 1 risk-based capital ratio 5.42%
Total risk-based capital ratio 8.55%
Memoranda
Average assets$10
Average earning assets$401,735
Average equity $16,910
Average loans $361,605
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8 Virginia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
014678Central Virginia Bank2351 Anderson Hwy, Powhatan, VA 23139September 17, 1973Full Service Brick and Mortar
1252484Cartersville Branch2288 Cartersville Road, Cartersville, VA 23027June 21, 1985Full Service Brick and Mortar
2252485Midlothian Branch13200 Midlothian Turnpike, Midlothian, VA 23113May 02, 1988Full Service Brick and Mortar
5252487Brandermill Branch4901 Millridge Parkway East, Midlothian, VA 23112November 01, 1993Full Service Brick and Mortar
6252488Corporate Operations Center Branch2036 New Dorset Road, Powhatan, VA 23139October 02, 1996Limited Service Administrative
7252489Cumberland Branch1422 Anderson Hwy, Cumberland, VA 23040June 16, 1998Full Service Brick and Mortar
8358255Wellesley Branch3490 Lauderdale Drive, Richmond, VA 23233September 27, 1999Full Service Brick and Mortar
9430113Bellgrade Office Branch2500 Promenade Parkway, Midlothian, VA 23113March 29, 2004Full Service Brick and Mortar
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