Commerce Bank of Virginia in Richmond, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of December 09, 2000

Commerce Bank of Virginia in Richmond, Virginia (VA)
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Commerce Bank of Virginia - Overview

General
FDIC Certificate #: 26628
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Commerce Bank (#21626)
Federal Reserve ID: 311528
Date Established: April 08, 1986
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 5 (Interstate: No)
FDIC's unique #: 35352
Numeric code: 13
Regulator: FED
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: April 08, 1986
Last Structure Change Effective Date: December 09, 2000
Last Structure Change Process Date: Febuary 16, 2001
Last Data Update: Febuary 16, 2001
Data Source Date: April 05, 2012
Location
Address: 11500 West Broad Street, Richmond, VA 23233
County: Henrico
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)
Financial Summary
Total assets: $134.4 mil

1992 - 1999 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, 1999)

Dollar figures in thousands
49Total employees (full-time equivalent)
$117,439Total assets
$4,538Cash and due from depository institutions
$0Interest-bearing balances
$29,484Securities
$0Federal funds sold & reverse repurchase agreements
$79,890Net loans & leases
$813Loan loss allowance
$0Trading account assets
$1,621Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,906All other assets
$117,439Total liabilities and capital
$108,384Total liabilities
$102,020Total deposits
$84,699Interest-bearing deposits
$102,020Deposits held in domestic offices
0.00%% insured (estimated)
$5,270Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$1,094All other liabilities
$9,055Total equity capital
$9,055Total bank equity capital
$9,055Perpetual preferred stock
$0Common stock
$1,847Surplus
$2,140Undivided profits
Memoranda
$5,068Noncurrent loans and leases
$10,594Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$0Earning assets
$0Long-term assets (5+ years)
$422Average Assets, year-to-date
$109,374Average Assets, quarterly
$21,650Volatile liabilities
$112,562Insider loans
$116,690FHLB advances
$12,484Loans and leases held for sale
$4,433Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$10,594Total unused commitments
$0Restructured Loans and leases
$813Derivatives

Income and Expense (December 31, 1999)

Dollar figures in thousands
$8,318Total interest income
$3,122Total interest expense
$5,196Net interest income
$194Provision for loan and lease losses
$789Total noninterest income
$0Fiduciary activities
$474Service charges on deposit accounts
$0Trading account gains & fees
$315Additional noninterest income
$3,118Total noninterest expense
$1,962Salaries and employee benefits
$441Premises and equipment expense
$715Additional noninterest expense
$2,673Pre-tax net operating income
$9Securities gains (losses)
$815Applicable income taxes
$1,867Income before extraordinary items
$0Extraordinary gains - net
$1,867Net income attributable to bank
$0Net charge-offs
$0Cash dividends
-$11Sale, conversion, retirement of capital stock, net
$1,200Net operating income

Performance and Condition Ratios (December 31, 1999)

Dollar figures in thousands
Performance Ratios (%, annualized)
7.93%Yield on earning assets
2.98%Cost of funding earning assets
4.96%Net interest margin
0.75%Noninterest income to earning assets
2.97%Noninterest expense to earning assets
1.65%Net operating income to assets
1.66%Return on assets (ROA)
2.38%Pretax return on assets
20.07%Return on equity (ROE)
7.17%Retained earnings to average equity (YTD only)
-0.02%Net charge-offs to loans
-1616.67%Credit loss provision to net charge-offs
0.00%Efficiency ratio
52,097Assets per employee
2.40%Cash dividends to net income (YTD only)
Condition Ratios (%)
64.27%Loss allowance to loans
1.01%Loss allowance to noncurrent loans
0.00%Noncurrent assets plus other real estate owned to assets
0.00%Noncurrent loans to loans
0.00%Net loans and leases to deposits
78.31%Net loans and leases to core deposits
84.27%Equity capital to assets
7.71%Core capital (leverage) ratio
8.40%Tier 1 risk-based capital ratio
11.13%Total risk-based capital ratio
Memoranda
$12Average assets
$112,562Average earning assets
$9,301Average equity
$104,856Average loans

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