Crestar Bank in Richmond, Virginia (VA)



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Crestar Bank
GeneralFDIC Certificate #: 832
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Crestar Bank (#12543)
Federal Reserve ID: 47920
Date Established: December 08, 1865
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 255 (Interstate: No)
FDIC's unique #: 520
Numeric code: 13
Regulator: FED
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
Oakar Institutions: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: November 15, 1996
Last Structure Change Process Date: January 24, 1997
Last Data Update: April 11, 1998
Data Source Date: April 05, 2012
LocationAddress: 919 East Main Street, Richmond, VA 23219
County: Richmond City
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 SummaryTotal assets: $14,196.7 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$5,608
Cash and due from depository institutions$13,557,742
Interest-bearing balances$1,004,635
Securities$40,000
Federal funds sold & reverse repurchase agreements$2,206,176
Net loans & leases$402,645
Loan loss allowance $9,042,656
Trading account assets$196,121
Bank premises and fixed assets$0
Other real estate owned$266,015
Goodwill and other intangibles$11,939
All other assets$132,941
Life insurance assets$490,735
Total liabilities and capital$0
Total liabilities$13,557,742
Total deposits$12,550,446
Interest-bearing deposits$9,437,765
Deposits held in domestic offices$7,019,478
% insured (estimated)9437765.00%
Federal funds purchased & repurchase agreements $80
Trading liabilities$2,238,339
Other borrowed funds $0
Subordinated debt $39,640
All other liabilities $213,000
Total equity capital$621,702
Total bank equity capital$621,702
Perpetual preferred stock$1,007,296
Common stock$0
Surplus$135,000
Undivided profits $211,639
Memoranda
Noncurrent loans and leases $660,657
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $98,179
Earning assets $67,718
Long-term assets (5+ years) $11,691,477
Average Assets, year-to-date $2,357,880
Average Assets, quarterly $12,616,077
Volatile liabilities $13,184,955
Insider loans $2,549,620
FHLB advances $9,168
Loans and leases held for sale $0
Unused loan commitments $460,796
Tier 1 (core) risk-based capital $6,222,916
Tier 2 risk-based capital $0
Total risk weighted assets $884,177
Total unused commitments $11,290,295
Restructured Loans and leases $0
Derivatives$2,030,664
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Income and Expense (December 31, 1995)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $935,764
Net interest income $390,806
Provision for loan and lease losses $544,958
Total noninterest income $49,347
Fiduciary activities $277,991
Service charges on deposit accounts $36,728
Trading account gains & fees $70,633
Additional noninterest income -$293
Total noninterest expense $170,923
Salaries and employee benefits $522,355
Premises and equipment expense $263,712
Additional noninterest expense $60,421
Pre-tax net operating income $198,222
Securities gains (losses) $251,247
Applicable income taxes -$2,370
Income before extraordinary items $83,494
Extraordinary gains - net $165,383
Net income attributable to bank $0
Net charge-offs $165,383
Cash dividends $51,139
Sale, conversion, retirement of capital stock, net $64,579
Net operating income -$73,762
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Performance and Condition Ratios (December 31, 1995)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 8.48%
Net interest margin 3.54%
Noninterest income to earning assets 4.94%
Noninterest expense to earning assets 2.52%
Net operating income to assets 4.73%
Return on assets (ROA) 1.32%
Pretax return on assets 1.31%
Return on equity (ROE) 1.97%
Retained earnings to average equity (YTD only) 16.82%
Net charge-offs to loans 10.25%
Credit loss provision to net charge-offs 0.57%
Efficiency ratio96.50%
Assets per employee$61,829
Cash dividends to net income (YTD only)2.42%
Condition Ratios (%)
Loss allowance to loans 39.05%
Loss allowance to noncurrent loans 2.12%
Noncurrent assets plus other real estate owned to assets 199.76%
Noncurrent loans to loans 0.81%
Net loans and leases to deposits1.06%
Net loans and leases to core deposits 95.81%
Equity capital to assets 99.02%
Core capital (leverage) ratio 7.43%
Tier 1 risk-based capital ratio 7.21%
Total risk-based capital ratio 7.83%
Memoranda
Average assets$10
Average earning assets$12,616,077
Average equity $983,319
Average loans $11,032,783
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