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)
  • Show street view No street view available for this location

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

Comment about this bank, ask questions, or add new information about it:

CAPTCHA

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with F&M Bank - Highlands.
Based on public records. Inadvertent errors are possible.
bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents