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- Banks in Virginia (VA)
- F&M Bank - Highlands
F&M Bank - Highlands in Covington, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches
This bank is inactive as of March 16, 2002
- F&M Bank - Highlands in Covington, Virginia (VA)
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F&M Bank - Highlands - Overview
- General
- FDIC Certificate #: 22817
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Branch Banking and Trust Company of Virginia (#22584)
Federal Reserve ID: 1014929
Date Established: Febuary 26, 1979
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 4 (Interstate: No)
FDIC's unique #: 15936
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: Febuary 26, 1979
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: 116 West Riverside Avenue, Covington, VA 24426
County: Covington 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 - Financial Summary
- Total assets: $173.9 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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
- 39Total employees (full-time equivalent)
- $173,920Total assets
- $7,470Cash and due from depository institutions
- $0Interest-bearing balances
- $37,335Securities
- $21,185Federal funds sold & reverse repurchase agreements
- $103,643Net loans & leases
- $2,216Loan loss allowance
- $0Trading account assets
- $2,019Bank premises and fixed assets
- $55Other real estate owned
- $944Goodwill and other intangibles
- $0Life insurance assets
- $1,269All other assets
- $173,920Total liabilities and capital
- $155,596Total liabilities
- $154,454Total deposits
- $149,549Interest-bearing deposits
- $154,454Deposits held in domestic offices
- 0.00%% insured (estimated)
- $0Federal funds purchased & repurchase agreements
- $0Trading liabilities
- $0Other borrowed funds
- $0Subordinated debt
- $1,142All other liabilities
- $18,324Total equity capital
- $18,324Total bank equity capital
- $18,324Perpetual preferred stock
- $0Common stock
- $740Surplus
- $2,271Undivided profits
- Memoranda
- $15,313Noncurrent loans and leases
- $365Noncurrent loans that are wholly or partially guaranteed by the U.S. government
- $0Income earned, not collected on loans
- $312Earning assets
- $0Long-term assets (5+ years)
- $395Average Assets, year-to-date
- $162,163Average Assets, quarterly
- $77,024Volatile liabilities
- $172,573Insider loans
- $173,741FHLB advances
- $28,101Loans and leases held for sale
- $1,269Unused loan commitments
- $0Tier 1 (core) risk-based capital
- $0Tier 2 risk-based capital
- $0Total risk weighted assets
- $365Total unused commitments
- $0Restructured Loans and leases
- $1,266Derivatives
Income and Expense (December 31, 2001)
- Dollar figures in thousands
- $12,122Total interest income
- $6,640Total interest expense
- $5,482Net interest income
- $1,266Provision for loan and lease losses
- $715Total noninterest income
- $0Fiduciary activities
- $443Service charges on deposit accounts
- $0Trading account gains & fees
- $272Additional noninterest income
- $3,078Total noninterest expense
- $1,196Salaries and employee benefits
- $794Premises and equipment expense
- $1,088Additional noninterest expense
- $1,853Pre-tax net operating income
- $256Securities gains (losses)
- $595Applicable income taxes
- $1,514Income before extraordinary items
- $0Extraordinary gains - net
- $1,514Net income attributable to bank
- $0Net charge-offs
- $0Cash dividends
- $232Sale, conversion, retirement of capital stock, net
- $1,090Net operating income
Performance and Condition Ratios (December 31, 2001)
- Dollar figures in thousands
- Performance Ratios (%, annualized)
- 7.52%Yield on earning assets
- 4.12%Cost of funding earning assets
- 3.40%Net interest margin
- 0.44%Noninterest income to earning assets
- 1.91%Noninterest expense to earning assets
- 0.77%Net operating income to assets
- 0.88%Return on assets (ROA)
- 1.22%Pretax return on assets
- 8.45%Return on equity (ROE)
- 2.37%Retained earnings to average equity (YTD only)
- 0.22%Net charge-offs to loans
- 545.69%Credit loss provision to net charge-offs
- 13.44%Efficiency ratio
- 48,556Assets per employee
- 4.46%Cash dividends to net income (YTD only)
- Condition Ratios (%)
- 71.99%Loss allowance to loans
- 2.09%Loss allowance to noncurrent loans
- 710.26%Noncurrent assets plus other real estate owned to assets
- 0.21%Noncurrent loans to loans
- 0.29%Net loans and leases to deposits
- 67.10%Net loans and leases to core deposits
- 82.03%Equity capital to assets
- 10.54%Core capital (leverage) ratio
- 9.74%Tier 1 risk-based capital ratio
- 16.65%Total risk-based capital ratio
- Memoranda
- $18Average assets
- $172,573Average earning assets
- $17,920Average equity
- $161,286Average loans
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- Banks in Virginia (VA)
- F&M Bank - Highlands
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