Essex Savings Bank, F.S.B. in Emporia, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of May 05, 1993

Essex Savings Bank, F.S.B. in Emporia, Virginia (VA)
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Essex Savings Bank, F.S.B. - Overview

General
FDIC Certificate #: 28646
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Essex Savings Bank, F.S.B. (#32377)
Federal Reserve ID: 433774
Date Established: January 01, 1927
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
OTS Docket #: 2029
FDIC's unique #: 41480
Numeric code: 33
Regulator: OTS
Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
FDIC Insured: Yes
SAIF Insured: Yes
Insured Savings Institution: Yes
State Chartered: No
Date of Deposit Insurance: September 03, 1940
Last Structure Change Effective Date: May 05, 1993
Last Structure Change Process Date: May 21, 1993
Last Data Update: May 21, 1993
Data Source Date: April 05, 2012
Location
Address: 214 West Atlantic Street, Emporia, VA 23847
County: Greensville
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
Financial Summary
Total assets: $69.4 mil

Assets and Liabilities (December 31, 1992)

Dollar figures in thousands
0Total employees (full-time equivalent)
$14Total assets
$73,952Cash and due from depository institutions
$3,843Interest-bearing balances
$2,122Securities
$10,580Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$55,037Loan loss allowance
$412Trading account assets
$0Bank premises and fixed assets
$1,081Other real estate owned
$867Goodwill and other intangibles
$2,074Life insurance assets
$470All other assets
$0Total liabilities and capital
$73,952Total liabilities
$69,994Total deposits
$63,110Interest-bearing deposits
$61,963Deposits held in domestic offices
63110.00%% insured (estimated)
$99Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$6,500Subordinated debt
$0All other liabilities
$384Total equity capital
$384Total bank equity capital
$3,958Perpetual preferred stock
$1,500Common stock
$220Surplus
$2,045Undivided profits
Memoranda
$193Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$893Income earned, not collected on loans
$495Earning assets
$67,739Long-term assets (5+ years)
$0Average Assets, year-to-date
$70,192Average Assets, quarterly
$71,935Volatile liabilities
$9,802Insider loans
$0FHLB advances
$6,500Loans and leases held for sale
$0Unused loan commitments
$139Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$3,474Total risk weighted assets
$40,776Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1992)

Dollar figures in thousands
$0Total interest income
$5,629Total interest expense
$3,574Net interest income
$2,055Provision for loan and lease losses
$398Total noninterest income
$462Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$0Additional noninterest income
$462Total noninterest expense
$2,181Salaries and employee benefits
$514Premises and equipment expense
$214Additional noninterest expense
$1,453Pre-tax net operating income
-$62Securities gains (losses)
$66Applicable income taxes
-$26Income before extraordinary items
$31Extraordinary gains - net
$0Net income attributable to bank
$31Net charge-offs
$176Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1992)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.75%Cost of funding earning assets
5.56%Net interest margin
3.19%Noninterest income to earning assets
0.72%Noninterest expense to earning assets
3.39%Net operating income to assets
-0.05%Return on assets (ROA)
0.04%Pretax return on assets
0.01%Return on equity (ROE)
0.76%Retained earnings to average equity (YTD only)
0.76%Net charge-offs to loans
0.33%Credit loss provision to net charge-offs
226.14%Efficiency ratio
84,148Assets per employee
5.28%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.74%Loss allowance to noncurrent loans
46.14%Noncurrent assets plus other real estate owned to assets
2.38%Noncurrent loans to loans
1.61%Net loans and leases to deposits
87.21%Net loans and leases to core deposits
92.02%Equity capital to assets
5.35%Core capital (leverage) ratio
4.73%Tier 1 risk-based capital ratio
8.52%Total risk-based capital ratio
Memoranda
$9Average assets
$70,192Average earning assets
$4,073Average equity
$64,325Average loans

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