F&M Bank- Atlantic in Gloucester, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 16, 2002

  • F&M Bank- Atlantic in Gloucester, Virginia (VA)
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F&M Bank- Atlantic - Overview

  • General
  • FDIC Certificate #: 27554
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Branch Banking and Trust Company of Virginia (#22584)
    Federal Reserve ID: 1400540
    Date Established: July 20, 1989
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 15 (Interstate: No)
    FDIC's unique #: 40334
    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: July 20, 1989
    Last Structure Change Effective Date: March 16, 2002
    Last Structure Change Process Date: April 26, 2002
    Last Data Update: April 26, 2002
    Data Source Date: April 05, 2012
  • Location
  • Address: 7171 George Washington Memorial Highway, Gloucester, VA 23061
    County: Gloucester
    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): Norfolk-Virginia Beach-Newport News, VA-NC (#5720)
    Core Based Statistical Area (CBSA): Virginia Beach-Norfolk-Newport News, VA-NC (#47260)
    CBSA Metro Statistical Area: Virginia Beach-Norfolk-Newport News, VA-NC (#47260)
  • Financial Summary
  • Total assets: $423.4 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, 2001)

  • Dollar figures in thousands
  • 179Total employees (full-time equivalent)
  • $423,428Total assets
  • $14,544Cash and due from depository institutions
  • $2,646Interest-bearing balances
  • $46,900Securities
  • $138,833Federal funds sold & reverse repurchase agreements
  • $207,678Net loans & leases
  • $6,139Loan loss allowance
  • $0Trading account assets
  • $8,246Bank premises and fixed assets
  • $55Other real estate owned
  • $577Goodwill and other intangibles
  • $0Life insurance assets
  • $6,595All other assets
  • $423,428Total liabilities and capital
  • $383,538Total liabilities
  • $380,187Total deposits
  • $322,612Interest-bearing deposits
  • $380,187Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $1,319Other borrowed funds
  • $0Subordinated debt
  • $2,032All other liabilities
  • $39,890Total equity capital
  • $39,890Total bank equity capital
  • $39,890Perpetual preferred stock
  • $0Common stock
  • $5,579Surplus
  • $11,022Undivided profits
  • Memoranda
  • $23,289Noncurrent loans and leases
  • $42,454Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $1,060Earning assets
  • $62Long-term assets (5+ years)
  • $2,123Average Assets, year-to-date
  • $396,057Average Assets, quarterly
  • $66,979Volatile liabilities
  • $411,926Insider loans
  • $413,566FHLB advances
  • $50,399Loans and leases held for sale
  • $1,746Unused loan commitments
  • $996Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $42,454Total unused commitments
  • $0Restructured Loans and leases
  • $3,160Derivatives

Income and Expense (December 31, 2001)

  • Dollar figures in thousands
  • $29,332Total interest income
  • $15,357Total interest expense
  • $13,975Net interest income
  • $5,210Provision for loan and lease losses
  • $2,155Total noninterest income
  • $0Fiduciary activities
  • $1,610Service charges on deposit accounts
  • $0Trading account gains & fees
  • $545Additional noninterest income
  • $13,395Total noninterest expense
  • $6,933Salaries and employee benefits
  • $3,275Premises and equipment expense
  • $3,187Additional noninterest expense
  • -$2,475Pre-tax net operating income
  • $1,659Securities gains (losses)
  • -$693Applicable income taxes
  • -$123Income before extraordinary items
  • $0Extraordinary gains - net
  • -$123Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $2,043Sale, conversion, retirement of capital stock, net
  • $2,600Net operating income

Performance and Condition Ratios (December 31, 2001)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.71%Yield on earning assets
  • 4.04%Cost of funding earning assets
  • 3.67%Net interest margin
  • 0.57%Noninterest income to earning assets
  • 3.52%Noninterest expense to earning assets
  • -0.29%Net operating income to assets
  • -0.03%Return on assets (ROA)
  • -0.20%Pretax return on assets
  • -0.30%Return on equity (ROE)
  • -6.61%Retained earnings to average equity (YTD only)
  • 0.93%Net charge-offs to loans
  • 255.02%Credit loss provision to net charge-offs
  • 1.34%Efficiency ratio
  • 82,703Assets per employee
  • 2.37%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • -2113.82%Loss allowance to loans
  • 2.87%Loss allowance to noncurrent loans
  • 579.15%Noncurrent assets plus other real estate owned to assets
  • 0.26%Noncurrent loans to loans
  • 0.50%Net loans and leases to deposits
  • 54.63%Net loans and leases to core deposits
  • 62.87%Equity capital to assets
  • 9.42%Core capital (leverage) ratio
  • 9.32%Tier 1 risk-based capital ratio
  • 15.46%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $411,926Average earning assets
  • $41,209Average equity
  • $380,376Average loans

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