First Bank in Strasburg, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches


First Bank - Overview

  • General
  • FDIC Certificate #: 6917
    Status: Active
    Federal Reserve ID: 899428
    Bank Holding Company (Regulatory Top Holder): First National Corporation (RSSDID: 1076123, Location: Strasburg, VA)
    Date Established: July 01, 1907
    WWW: http://www.therespowericom
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 10 (Domestic: 10, Interstate: No)
    OTS Docket #: 10684
    FDIC's unique #: 4648
    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: Commercial Lending Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: November 06, 2009
    Last Structure Change Process Date: January 06, 2010
    Last Data Update: January 06, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 112 West King Street, Strasburg, VA 22657
    County: Shenandoah
    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
  • History of Changes
  • Office Purchased
  • Financial Summary
  • Total assets: $538.5 mil
    Equity capital: $45.7 mil
    Deposits held in domestic offices: $469.3 mil
    Return on assets (ROA): -1.89% (-$10.2 mil)
    Quarterly return on assets: -5.76% (-$31.0 mil)
    Return on Equity (ROE): -18.97% (-$8.7 mil)
    Quarterly return on equity: -61.99% (-$28.5 mil)
    Net income: -$10.3 mil
    Quarterly Net income: -$7.8 mil
    Pretax return on assets: -1.22% (-$6,569.9 mil)
    Quarterly Pretax return on assets: -1.91% (-$10,285.7 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
  • 151Total employees (full-time equivalent)
  • $538,516Total assets
  • $29,524Cash and due from depository institutions
  • $23,346Interest-bearing balances
  • $91,553Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $379,777Net loans & leases
  • $12,937Loan loss allowance
  • $0Trading account assets
  • $19,551Bank premises and fixed assets
  • $6,374Other real estate owned
  • $153Goodwill and other intangibles
  • $538,516Life insurance assets
  • $11,584All other assets
  • $492,790Total liabilities and capital
  • $469,304Total liabilities
  • $436,057Total deposits
  • $469,304Interest-bearing deposits
  • $83Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $19,100Trading liabilities
  • $0Other borrowed funds
  • $4,386Subordinated debt
  • $45,726All other liabilities
  • $45,726Total equity capital
  • $45,726Total bank equity capital
  • $0Perpetual preferred stock
  • $2,447Common stock
  • $24,736Surplus
  • $18,543Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $274Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $12,301Income earned, not collected on loans
  • $0Earning assets
  • $1,621Long-term assets (5+ years)
  • $494,676Average Assets, year-to-date
  • $95,373Average Assets, quarterly
  • $547,388Volatile liabilities
  • $539,740Insider loans
  • $401,929FHLB advances
  • $537,935Loans and leases held for sale
  • $1,470Unused loan commitments
  • $1,470Tier 1 (core) risk-based capital
  • $44,957Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $48,892Restructured Loans and leases
  • $16,454Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $25,645Total interest income
  • $5,064Total interest expense
  • $20,581Net interest income
  • $12,380Provision for loan and lease losses
  • $5,827Total noninterest income
  • $1,024Fiduciary activities
  • $2,236Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,567Additional noninterest income
  • $20,739Total noninterest expense
  • $9,460Salaries and employee benefits
  • $2,621Premises and equipment expense
  • $8,658Additional noninterest expense
  • -$6,711Pre-tax net operating income
  • $59Securities gains (losses)
  • $3,676Applicable income taxes
  • -$10,328Income before extraordinary items
  • $0Extraordinary gains - net
  • -$10,328Net income attributable to bank
  • $0Net charge-offs
  • -$10,328Cash dividends
  • $15,478Sale, conversion, retirement of capital stock, net
  • $1,600Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.13%Yield on earning assets
  • 1.01%Cost of funding earning assets
  • 4.12%Net interest margin
  • 1.17%Noninterest income to earning assets
  • 4.15%Noninterest expense to earning assets
  • -1.90%Net operating income to assets
  • -1.89%Return on assets (ROA)
  • -1.22%Pretax return on assets
  • -18.97%Return on equity (ROE)
  • -21.90%Retained earnings to average equity (YTD only)
  • 3.72%Net charge-offs to loans
  • 79.98%Credit loss provision to net charge-offs
  • 0.37%Efficiency ratio
  • 78,446Assets per employee
  • 3.57%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • -15.49%Loss allowance to loans
  • 3.29%Loss allowance to noncurrent loans
  • 105.17%Noncurrent assets plus other real estate owned to assets
  • 3.47%Noncurrent loans to loans
  • 3.13%Net loans and leases to deposits
  • 80.92%Net loans and leases to core deposits
  • 88.08%Equity capital to assets
  • 8.49%Core capital (leverage) ratio
  • 8.36%Tier 1 risk-based capital ratio
  • 11.19%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $547,388Average earning assets
  • $54,456Average equity
  • $500,100Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $127,937Managed Assets
  • 1Number of Accounts
  • $127,158Personal trust and agency accounts
  • $34,976Employee benefit-defined contribution accounts
  • $3,218Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $23,368Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $65,596Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 154Number of Accounts
  • $0Personal trust and agency accounts
  • $23,368Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $779Other retirement accounts
  • $779Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 10 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    04648First Bank112 West King Street, Strasburg, VA 22657July 01, 1907Full Service Brick and Mortar
    1212978Front Royal Express Office Branch508 North Commerce Avenue, Front Royal, VA 22630July 08, 1985Limited Service Facility
    2212979Winchester Financial Center Branch1835 Valley Avenue, Winchester, VA 22601August 01, 1985Full Service Brick and Mortar
    3212980Kernstown Branch3143 Valley Pike, Winchester, VA 22602July 01, 1994Full Service Brick and Mortar
    4212981South Woodstock Branch860 South Main Street, Woodstock, VA 22664May 30, 1995Full Service Brick and Mortar
    6358446North Woodstock Branch496 North Main Street, Woodstock, VA 22664June 28, 1999Full Service Brick and Mortar
    7364761Front Royal Financial Center Branch1717 Shenandoah Avenue, Front Royal, VA 22630June 06, 2002Full Service Brick and Mortar
    8429971Mt Jackson Financial Center Branch5304 Main Street, Mount Jackson, VA 22842July 31, 2003Full Service Brick and Mortar
    9453057Sherando Financial Center Branch695 Fairfax Pike, Stephens City, VA 22655May 30, 2006Full Service Brick and Mortar
    10466111Winchester West Financial Center Bra208 Crock Wells Mill Drive, Winchester, VA 22603September 28, 2006Full Service Brick and Mortar

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