Citizens and Farmers Bank in West Point, Virginia (VA)

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Citizens and Farmers Bank
GeneralFDIC Certificate #: 10363
Status: Active
Federal Reserve ID: 928421
Bank Holding Company (Regulatory Top Holder): C&F Financial Corporation (RSSDID: 2183493, Location: West Point, VA)
Date Established: Febuary 01, 1927
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 18 (Domestic: 18, Interstate: No)
OTS Docket #: 12229
FDIC's unique #: 6639
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: Consumer Lending Specialization
Date of Deposit Insurance: January 01, 1934
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: Eighth And Main Streets, West Point, VA 23181
County: King William
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): Richmond, VA (#40060)
CBSA Metro Statistical Area: Richmond, VA (#40060)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $921.0 mil
Equity capital: $114.0 mil
Deposits held in domestic offices: $647.3 mil
Return on assets (ROA): 1.55% ($14.3 mil)
Quarterly return on assets: 1.61% ($14.8 mil)
Return on Equity (ROE): 12.34% ($14.1 mil)
Quarterly return on equity: 13.05% ($14.9 mil)
Net income: $14.0 mil
Quarterly Net income: $3.7 mil
Pretax return on assets: 2.25% ($20,723.2 mil)
Quarterly Pretax return on assets: 2.35% ($21,644.2 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)512
Total assets$921,031
Cash and due from depository institutions$10,492
Interest-bearing balances$4,705
Federal funds sold & reverse repurchase agreements$997
Net loans & leases$681,140
Loan loss allowance $33,677
Trading account assets$0
Bank premises and fixed assets$28,263
Other real estate owned$6,059
Goodwill and other intangibles$10,723
All other assets$38,779
Life insurance assets$921,031
Total liabilities and capital$807,020
Total liabilities$647,269
Total deposits$550,860
Interest-bearing deposits$647,269
Deposits held in domestic offices$85
% insured (estimated)12544.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$127,987
Other borrowed funds $0
Subordinated debt $19,220
All other liabilities $114,011
Total equity capital$114,011
Total bank equity capital$114,011
Perpetual preferred stock$0
Common stock$2,783
Undivided profits $73,301
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $63,870
Income earned, not collected on loans $11,081
Earning assets $0
Long-term assets (5+ years) $5,242
Average Assets, year-to-date $831,420
Average Assets, quarterly $337,525
Volatile liabilities $905,919
Insider loans $912,652
FHLB advances $687,490
Loans and leases held for sale $906,309
Unused loan commitments $2,346
Tier 1 (core) risk-based capital $2,346
Tier 2 risk-based capital $102,126
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $83,496
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $73,759
Total interest expense $10,895
Net interest income $62,864
Provision for loan and lease losses $14,160
Total noninterest income $27,040
Fiduciary activities $0
Service charges on deposit accounts $3,509
Trading account gains & fees $0
Additional noninterest income $23,531
Total noninterest expense $55,400
Salaries and employee benefits $33,954
Premises and equipment expense $6,368
Additional noninterest expense $15,078
Pre-tax net operating income $20,344
Securities gains (losses) $13
Applicable income taxes $6,357
Income before extraordinary items $14,000
Extraordinary gains - net $0
Net income attributable to bank $14,000
Net charge-offs $0
Cash dividends $14,000
Sale, conversion, retirement of capital stock, net $9,323
Net operating income $14,136
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets9.08%
Cost of funding earning assets 1.34%
Net interest margin 7.74%
Noninterest income to earning assets 3.33%
Noninterest expense to earning assets 6.82%
Net operating income to assets 1.54%
Return on assets (ROA) 1.55%
Pretax return on assets 2.25%
Return on equity (ROE) 12.34%
Retained earnings to average equity (YTD only) -0.12%
Net charge-offs to loans 1.35%
Credit loss provision to net charge-offs 151.88%
Efficiency ratio3.70%
Assets per employee$61,621
Cash dividends to net income (YTD only)1.80%
Condition Ratios (%)
Loss allowance to loans 100.97%
Loss allowance to noncurrent loans 4.71%
Noncurrent assets plus other real estate owned to assets 303.92%
Noncurrent loans to loans 1.86%
Net loans and leases to deposits1.55%
Net loans and leases to core deposits 105.23%
Equity capital to assets 116.73%
Core capital (leverage) ratio 12.38%
Tier 1 risk-based capital ratio 11.27%
Total risk-based capital ratio 14.85%
Average assets$16
Average earning assets$905,919
Average equity $113,416
Average loans $812,077
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Total Fiduciary and Related Assets (December 31, 2010)
(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$1
Number of Accounts1
Personal trust and agency accounts$1
Employee benefit-defined contribution accounts$1
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts1
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
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18 Virginia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
06639Citizens And Farmers BankEighth And Main Streets, West Point, VA 23181Febuary 01, 1927Full Service Brick and Mortar
122233214th Street Branch14th Street Near Main Street, West Point, VA 23181March 28, 1978Full Service Brick and Mortar
214140Providence Forge BranchRoutes 60 And 155, Providence Forge, VA 23140September 15, 1971Full Service Brick and Mortar
3251161Quinton BranchState Route 249, Quinton, VA 23141April 21, 1977Full Service Brick and Mortar
4222333Norge BranchU.S. Route 60 And State Route 607, James City County, VA 23127November 13, 1984Full Service Brick and Mortar
5222334Longhill BranchLonghill And Olde Towne Roads, James City County, VA 23081November 17, 1988Full Service Brick and Mortar
6222335Varina BranchRoute 5 And Strath Road, Varina, VA 23231April 17, 1995Full Service Brick and Mortar
7249505Middlesex BranchRoute 33 And State Route 641, Saluda, VA 23149May 21, 1979Full Service Brick and Mortar
9222336West Broad Branch8001 West Broad Street, Richmond, VA 23294November 15, 1999Full Service Brick and Mortar
10334436Jamestown Road Branch1100 Jamestown Road, Williamsburg, VA 23185April 10, 2000Full Service Brick and Mortar
11362376Alverser Branch1400 Alverser Plaza, Midlothian, VA 23112October 17, 2001Full Service Brick and Mortar
12363041Sandston Branch100 East Williamsburg Road, Sandston, VA 23150December 21, 2001Full Service Brick and Mortar
13423167Mechanicsville Branch7021 Mechanicsville Turnpike, Mechanicsville, VA 23111September 17, 2003Full Service Brick and Mortar
14425195City Center Branch698 Town Center Drive, Newport News, VA 23606January 26, 2004Full Service Retail
15449825Hampton Branch1927 C&F Drive, Hampton, VA 23666Febuary 21, 2006Full Service Brick and Mortar
16451753Kiln Creek Branch2800 George Washington Memorial Highway, Yorktown, VA 23693May 22, 2006Full Service Brick and Mortar
17458026Patterson Avenue Branch12308 Patterson Avenue, Richmond, VA 23238January 09, 2007Full Service Brick and Mortar
18461706Chester Branch4820 West Hundred Road, Chester, VA 23831March 19, 2007Full Service Brick and Mortar
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