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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