Citizens and Farmers Bank in West Point, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

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

  • General
  • FDIC 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
  • Location
  • Address: 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 Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total 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
  • 512Total employees (full-time equivalent)
  • $921,031Total assets
  • $10,492Cash and due from depository institutions
  • $4,705Interest-bearing balances
  • $144,578Securities
  • $997Federal funds sold & reverse repurchase agreements
  • $681,140Net loans & leases
  • $33,677Loan loss allowance
  • $0Trading account assets
  • $28,263Bank premises and fixed assets
  • $6,059Other real estate owned
  • $10,723Goodwill and other intangibles
  • $921,031Life insurance assets
  • $38,779All other assets
  • $807,020Total liabilities and capital
  • $647,269Total liabilities
  • $550,860Total deposits
  • $647,269Interest-bearing deposits
  • $85Deposits held in domestic offices
  • 12544.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $127,987Trading liabilities
  • $0Other borrowed funds
  • $19,220Subordinated debt
  • $114,011All other liabilities
  • $114,011Total equity capital
  • $114,011Total bank equity capital
  • $0Perpetual preferred stock
  • $2,783Common stock
  • $37,927Surplus
  • $73,301Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $63,870Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $11,081Income earned, not collected on loans
  • $0Earning assets
  • $5,242Long-term assets (5+ years)
  • $831,420Average Assets, year-to-date
  • $337,525Average Assets, quarterly
  • $905,919Volatile liabilities
  • $912,652Insider loans
  • $687,490FHLB advances
  • $906,309Loans and leases held for sale
  • $2,346Unused loan commitments
  • $2,346Tier 1 (core) risk-based capital
  • $102,126Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $83,496Restructured Loans and leases
  • $854Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $73,759Total interest income
  • $10,895Total interest expense
  • $62,864Net interest income
  • $14,160Provision for loan and lease losses
  • $27,040Total noninterest income
  • $0Fiduciary activities
  • $3,509Service charges on deposit accounts
  • $0Trading account gains & fees
  • $23,531Additional noninterest income
  • $55,400Total noninterest expense
  • $33,954Salaries and employee benefits
  • $6,368Premises and equipment expense
  • $15,078Additional noninterest expense
  • $20,344Pre-tax net operating income
  • $13Securities gains (losses)
  • $6,357Applicable income taxes
  • $14,000Income before extraordinary items
  • $0Extraordinary gains - net
  • $14,000Net income attributable to bank
  • $0Net charge-offs
  • $14,000Cash dividends
  • $9,323Sale, conversion, retirement of capital stock, net
  • $14,136Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 9.08%Yield on earning assets
  • 1.34%Cost of funding earning assets
  • 7.74%Net interest margin
  • 3.33%Noninterest income to earning assets
  • 6.82%Noninterest expense to earning assets
  • 1.54%Net operating income to assets
  • 1.55%Return on assets (ROA)
  • 2.25%Pretax return on assets
  • 12.34%Return on equity (ROE)
  • -0.12%Retained earnings to average equity (YTD only)
  • 1.35%Net charge-offs to loans
  • 151.88%Credit loss provision to net charge-offs
  • 3.70%Efficiency ratio
  • 61,621Assets per employee
  • 1.80%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 100.97%Loss allowance to loans
  • 4.71%Loss allowance to noncurrent loans
  • 303.92%Noncurrent assets plus other real estate owned to assets
  • 1.86%Noncurrent loans to loans
  • 1.55%Net loans and leases to deposits
  • 105.23%Net loans and leases to core deposits
  • 116.73%Equity capital to assets
  • 12.38%Core capital (leverage) ratio
  • 11.27%Tier 1 risk-based capital ratio
  • 14.85%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $905,919Average earning assets
  • $113,416Average equity
  • $812,077Average loans

Total Fiduciary and Related Assets (December 31, 2010)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $1Managed Assets
  • 1Number of Accounts
  • $1Personal trust and agency accounts
  • $1Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 1Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 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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