Farmers and Miners Bank in Pennington Gap, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

Farmers and Miners Bank - Overview

  • General
  • FDIC Certificate #: 22888
    Status: Active
    Federal Reserve ID: 658924
    Date Established: July 02, 1979
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 6 (Domestic: 6, Interstate: No)
    FDIC's unique #: 15999
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: All Other Specialization < 1 Billion
    Date of Deposit Insurance: July 02, 1979
    Last Structure Change Effective Date: March 24, 2011
    Last Structure Change Process Date: March 25, 2011
    Last Data Update: March 25, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 41526 West Morgan Avenue, Pennington Gap, VA 24277
    County: Lee
    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: $129.1 mil
    Equity capital: $16.3 mil
    Deposits held in domestic offices: $112.6 mil
    Return on assets (ROA): 1.08% ($1.4 mil)
    Quarterly return on assets: 1.43% ($1.8 mil)
    Return on Equity (ROE): 8.95% ($1.4 mil)
    Quarterly return on equity: 11.54% ($1.8 mil)
    Net income: $1.4 mil
    Quarterly Net income: $0.5 mil
    Pretax return on assets: 1.60% ($2,066.3 mil)
    Quarterly Pretax return on assets: 1.80% ($2,324.5 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, 2011)

  • Dollar figures in thousands
  • 59Total employees (full-time equivalent)
  • $129,141Total assets
  • $23,727Cash and due from depository institutions
  • $18,241Interest-bearing balances
  • $26,805Securities
  • $4,064Federal funds sold & reverse repurchase agreements
  • $70,294Net loans & leases
  • $2,038Loan loss allowance
  • $0Trading account assets
  • $2,168Bank premises and fixed assets
  • $599Other real estate owned
  • $0Goodwill and other intangibles
  • $129,141Life insurance assets
  • $1,484All other assets
  • $112,829Total liabilities and capital
  • $112,550Total liabilities
  • $85,530Total deposits
  • $112,550Interest-bearing deposits
  • $98Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $279Subordinated debt
  • $16,312All other liabilities
  • $16,312Total equity capital
  • $16,312Total bank equity capital
  • $0Perpetual preferred stock
  • $500Common stock
  • $500Surplus
  • $15,312Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,649Income earned, not collected on loans
  • $0Earning assets
  • $682Long-term assets (5+ years)
  • $119,404Average Assets, year-to-date
  • $39,173Average Assets, quarterly
  • $129,387Volatile liabilities
  • $129,486Insider loans
  • $73,302FHLB advances
  • $128,270Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $16,247Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $1,631Restructured Loans and leases
  • $253Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $7,169Total interest income
  • $855Total interest expense
  • $6,314Net interest income
  • $270Provision for loan and lease losses
  • $956Total noninterest income
  • $0Fiduciary activities
  • $590Service charges on deposit accounts
  • $0Trading account gains & fees
  • $366Additional noninterest income
  • $4,923Total noninterest expense
  • $2,774Salaries and employee benefits
  • $728Premises and equipment expense
  • $1,421Additional noninterest expense
  • $2,077Pre-tax net operating income
  • -$2Securities gains (losses)
  • $679Applicable income taxes
  • $1,396Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,396Net income attributable to bank
  • $0Net charge-offs
  • $1,396Cash dividends
  • $53Sale, conversion, retirement of capital stock, net
  • $200Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.11%Yield on earning assets
  • 0.73%Cost of funding earning assets
  • 5.38%Net interest margin
  • 0.81%Noninterest income to earning assets
  • 4.20%Noninterest expense to earning assets
  • 1.08%Net operating income to assets
  • 1.08%Return on assets (ROA)
  • 1.60%Pretax return on assets
  • 8.95%Return on equity (ROE)
  • 7.67%Retained earnings to average equity (YTD only)
  • 0.07%Net charge-offs to loans
  • 509.43%Credit loss provision to net charge-offs
  • 44.28%Efficiency ratio
  • 67,717Assets per employee
  • 2.19%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 14.33%Loss allowance to loans
  • 2.82%Loss allowance to noncurrent loans
  • 76.93%Noncurrent assets plus other real estate owned to assets
  • 2.52%Noncurrent loans to loans
  • 3.66%Net loans and leases to deposits
  • 62.46%Net loans and leases to core deposits
  • 64.49%Equity capital to assets
  • 12.63%Core capital (leverage) ratio
  • 12.67%Tier 1 risk-based capital ratio
  • 22.16%Total risk-based capital ratio
  • Memoranda
  • $23Average assets
  • $129,387Average earning assets
  • $15,590Average equity
  • $117,344Average loans

List of branches

  • 6 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    015999Farmers And Miners Bank41526 West Morgan Avenue, Pennington Gap, VA 24277July 02, 1979Full Service Brick and Mortar
    1255545Rose Hill Branch6489 Dr. Thomas Walker Rd, Rose Hill, VA 24281July 01, 1982Full Service Brick and Mortar
    2255546Cumberland Gap Branch248 Station Creek Rd, Rose Hill, VA 24281October 17, 1984Full Service Brick and Mortar
    3255547Weber City Branch2944 Ushwy 23 North, Weber City, VA 24290May 26, 1989Full Service Brick and Mortar
    5361782West Clintwood Branch5283 Dickenson Highway, Clintwood, VA 24228October 03, 2000Full Service Brick and Mortar
    6362934Wise County Branch331 East Main Street, Wise, VA 24293January 22, 2002Full Service Brick and Mortar

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