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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