Citizens Bank of West Virginia, Inc. in Elkins, West Virginia (WV)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Citizens Bank of West Virginia, Inc. in Elkins, West Virginia (WV)
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Citizens Bank of West Virginia, Inc. - Overview

  • General
  • FDIC Certificate #: 6760
    Status: Active
    Federal Reserve ID: 481627
    Bank Holding Company (Regulatory Top Holder): Citizens Financial Corp. (RSSDID: 1142970, Location: Elkins, WV)
    Date Established: January 22, 1924
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 5 (Domestic: 5, Interstate: No)
    OTS Docket #: 9520
    FDIC's unique #: 4539
    Numeric code: 21
    Regulator: FDIC
    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: June 29, 2009
    Last Structure Change Process Date: July 16, 2009
    Last Data Update: July 16, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 211-213 Third Street, Elkins, WV 26241
    County: Randolph
    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
  • Name Change
    Change in Primary Regulatory Agency
    Change in Supervisory Agency
  • Financial Summary
  • Total assets: $220.7 mil
    Equity capital: $18.3 mil
    Deposits held in domestic offices: $167.5 mil
    Return on assets (ROA): -1.63% (-$3.6 mil)
    Quarterly return on assets: -1.50% (-$3.3 mil)
    Return on Equity (ROE): -18.51% (-$3.3 mil)
    Quarterly return on equity: -17.83% (-$3.2 mil)
    Net income: -$3.8 mil
    Quarterly Net income: -$0.8 mil
    Pretax return on assets: -2.82% (-$6,223.3 mil)
    Quarterly Pretax return on assets: -2.64% (-$5,826.0 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
  • 64Total employees (full-time equivalent)
  • $220,683Total assets
  • $22,003Cash and due from depository institutions
  • $20,364Interest-bearing balances
  • $40,641Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $139,360Net loans & leases
  • $5,273Loan loss allowance
  • $0Trading account assets
  • $2,456Bank premises and fixed assets
  • $4,311Other real estate owned
  • $0Goodwill and other intangibles
  • $220,683Life insurance assets
  • $11,912All other assets
  • $202,413Total liabilities and capital
  • $167,538Total liabilities
  • $129,998Total deposits
  • $167,538Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 26494.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $4,080Trading liabilities
  • $0Other borrowed funds
  • $4,301Subordinated debt
  • $18,270All other liabilities
  • $18,270Total equity capital
  • $18,270Total bank equity capital
  • $0Perpetual preferred stock
  • $1,500Common stock
  • $2,100Surplus
  • $14,670Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $12,723Income earned, not collected on loans
  • $0Earning assets
  • $770Long-term assets (5+ years)
  • $200,365Average Assets, year-to-date
  • $102,853Average Assets, quarterly
  • $232,704Volatile liabilities
  • $226,308Insider loans
  • $144,463FHLB advances
  • $222,307Loans and leases held for sale
  • $3,872Unused loan commitments
  • $3,872Tier 1 (core) risk-based capital
  • $18,225Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $14,780Restructured Loans and leases
  • $7,122Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $10,332Total interest income
  • $2,641Total interest expense
  • $7,691Net interest income
  • $8,680Provision for loan and lease losses
  • $1,642Total noninterest income
  • $226Fiduciary activities
  • $1,151Service charges on deposit accounts
  • $0Trading account gains & fees
  • $265Additional noninterest income
  • $7,214Total noninterest expense
  • $3,710Salaries and employee benefits
  • $582Premises and equipment expense
  • $2,922Additional noninterest expense
  • -$6,561Pre-tax net operating income
  • $0Securities gains (losses)
  • -$2,779Applicable income taxes
  • -$3,782Income before extraordinary items
  • $0Extraordinary gains - net
  • -$3,782Net income attributable to bank
  • $0Net charge-offs
  • -$3,782Cash dividends
  • $5,964Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.84%Yield on earning assets
  • 1.24%Cost of funding earning assets
  • 3.60%Net interest margin
  • 0.77%Noninterest income to earning assets
  • 3.38%Noninterest expense to earning assets
  • -1.63%Net operating income to assets
  • -1.63%Return on assets (ROA)
  • -2.82%Pretax return on assets
  • -18.51%Return on equity (ROE)
  • -18.51%Retained earnings to average equity (YTD only)
  • 3.85%Net charge-offs to loans
  • 145.54%Credit loss provision to net charge-offs
  • 0.36%Efficiency ratio
  • 77,296Assets per employee
  • 3.45%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.65%Loss allowance to noncurrent loans
  • 41.44%Noncurrent assets plus other real estate owned to assets
  • 7.72%Noncurrent loans to loans
  • 8.80%Net loans and leases to deposits
  • 83.18%Net loans and leases to core deposits
  • 93.36%Equity capital to assets
  • 8.28%Core capital (leverage) ratio
  • 8.20%Tier 1 risk-based capital ratio
  • 12.62%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $232,704Average earning assets
  • $20,431Average equity
  • $213,430Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $70,052Managed Assets
  • 1Number of Accounts
  • $69,158Personal trust and agency accounts
  • $62,015Employee benefit-defined contribution accounts
  • $2,666Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $2,219Investment management agency accounts
  • $24Other fiduciary accounts
  • $2,234Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 87Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $894Other retirement accounts
  • $879Corporate trust and agency accounts
  • $7Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 5 West Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    04539Citizens Bank Of West Virginia, Inc.211-213 Third Street, Elkins, WV 26241January 22, 1924Full Service Brick and Mortar
    1212126Third And Kerens Drive-In BranchThird Street And Kerens Avenue, Elkins, WV 26241November 14, 1977Limited Service Facility
    2529Tucker County Branch224-226 Walnut Street, Parsons, WV 26287June 04, 1900Full Service Brick and Mortar
    3212127Tygart Valley Branch100 Main Street, Beverly, WV 26253Febuary 01, 1992Limited Service Facility
    5360588Snowshoe Branch1 Citizens Plaza, Slatyfork, WV 26291November 20, 2000Full Service Brick and Mortar

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