Farmers and Miners Bank in Pennington Gap, Virginia (VA)



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Farmers and Miners Bank routing number info

Table of contents:
Farmers and Miners Bank
GeneralFDIC Certificate #: 22888
Status: Active
Federal Reserve ID: 658924
Date Established: July 02, 1979
WWW: http://www.bestlittlebank.com
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
LocationAddress: 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 SummaryTotal 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)
Total employees (full-time equivalent)59
Total assets$129,141
Cash and due from depository institutions$23,727
Interest-bearing balances$18,241
Securities$26,805
Federal funds sold & reverse repurchase agreements$4,064
Net loans & leases$70,294
Loan loss allowance $2,038
Trading account assets$0
Bank premises and fixed assets$2,168
Other real estate owned$599
Goodwill and other intangibles$0
All other assets$1,484
Life insurance assets$129,141
Total liabilities and capital$112,829
Total liabilities$112,550
Total deposits$85,530
Interest-bearing deposits$112,550
Deposits held in domestic offices$98
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $279
All other liabilities $16,312
Total equity capital$16,312
Total bank equity capital$16,312
Perpetual preferred stock$0
Common stock$500
Surplus$500
Undivided profits $15,312
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $2,649
Earning assets $0
Long-term assets (5+ years) $682
Average Assets, year-to-date $119,404
Average Assets, quarterly $39,173
Volatile liabilities $129,387
Insider loans $129,486
FHLB advances $73,302
Loans and leases held for sale $128,270
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $16,247
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $1,631
Derivatives$253
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $7,169
Total interest expense $855
Net interest income $6,314
Provision for loan and lease losses $270
Total noninterest income $956
Fiduciary activities $0
Service charges on deposit accounts $590
Trading account gains & fees $0
Additional noninterest income $366
Total noninterest expense $4,923
Salaries and employee benefits $2,774
Premises and equipment expense $728
Additional noninterest expense $1,421
Pre-tax net operating income $2,077
Securities gains (losses) -$2
Applicable income taxes $679
Income before extraordinary items $1,396
Extraordinary gains - net $0
Net income attributable to bank $1,396
Net charge-offs $0
Cash dividends $1,396
Sale, conversion, retirement of capital stock, net $53
Net operating income $200
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.11%
Cost of funding earning assets 0.73%
Net interest margin 5.38%
Noninterest income to earning assets 0.81%
Noninterest expense to earning assets 4.20%
Net operating income to assets 1.08%
Return on assets (ROA) 1.08%
Pretax return on assets 1.60%
Return on equity (ROE) 8.95%
Retained earnings to average equity (YTD only) 7.67%
Net charge-offs to loans 0.07%
Credit loss provision to net charge-offs 509.43%
Efficiency ratio44.28%
Assets per employee$67,717
Cash dividends to net income (YTD only)2.19%
Condition Ratios (%)
Loss allowance to loans 14.33%
Loss allowance to noncurrent loans 2.82%
Noncurrent assets plus other real estate owned to assets 76.93%
Noncurrent loans to loans 2.52%
Net loans and leases to deposits3.66%
Net loans and leases to core deposits 62.46%
Equity capital to assets 64.49%
Core capital (leverage) ratio 12.63%
Tier 1 risk-based capital ratio 12.67%
Total risk-based capital ratio 22.16%
Memoranda
Average assets$23
Average earning assets$129,387
Average equity $15,590
Average loans $117,344
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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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