First Bank of Ceredo in Ceredo, West Virginia (WV)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 01, 1993

First Bank of Ceredo in Ceredo, West Virginia (WV)
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First Bank of Ceredo - Overview

General
FDIC Certificate #: 6753
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: United Bank (#6784)
Federal Reserve ID: 818429
Date Established: July 12, 1892
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Interstate: No)
OTS Docket #: 9672
FDIC's unique #: 4533
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: September 01, 1993
Last Structure Change Process Date: September 14, 1993
Last Data Update: September 14, 1993
Data Source Date: April 05, 2012
Location
Address: U.S. Route 60 And Second Street West, Ceredo, WV 25507
County: Wayne
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Scott Depot
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
Metropolitan Statistical Area (MSA): Huntington-Ashland, WV-KY-OH (#3400)
Core Based Statistical Area (CBSA): Huntington-Ashland, WV-KY-OH (#26580)
CBSA Metro Statistical Area: Huntington-Ashland, WV-KY-OH (#26580)
Financial Summary
Total assets: $141.9 mil

Assets and Liabilities (December 31, 1992)

Dollar figures in thousands
0Total employees (full-time equivalent)
$83Total assets
$142,119Cash and due from depository institutions
$6,746Interest-bearing balances
$1,952Securities
$47,016Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$80,224Loan loss allowance
$1,162Trading account assets
$0Bank premises and fixed assets
$4,787Other real estate owned
$297Goodwill and other intangibles
$3,049Life insurance assets
$0All other assets
$0Total liabilities and capital
$142,119Total liabilities
$131,200Total deposits
$125,410Interest-bearing deposits
$108,754Deposits held in domestic offices
125410.00%% insured (estimated)
$92Federal funds purchased & repurchase agreements
$4,383Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$1,407Total equity capital
$1,407Total bank equity capital
$10,919Perpetual preferred stock
$0Common stock
$665Surplus
$4,425Undivided profits
Memoranda
$5,829Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$1,781Income earned, not collected on loans
$363Earning assets
$129,192Long-term assets (5+ years)
$18,169Average Assets, year-to-date
$141,979Average Assets, quarterly
$141,812Volatile liabilities
$10,681Insider loans
$1,566FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$12,636Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$10,919Total risk weighted assets
$96,450Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1992)

Dollar figures in thousands
$0Total interest income
$11,344Total interest expense
$5,155Net interest income
$6,189Provision for loan and lease losses
$1,346Total noninterest income
$1,335Fiduciary activities
$0Service charges on deposit accounts
$488Trading account gains & fees
$0Additional noninterest income
$847Total noninterest expense
$5,255Salaries and employee benefits
$2,708Premises and equipment expense
$613Additional noninterest expense
$1,934Pre-tax net operating income
$923Securities gains (losses)
$283Applicable income taxes
$295Income before extraordinary items
$911Extraordinary gains - net
$0Net income attributable to bank
$911Net charge-offs
$1,434Cash dividends
$693Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1992)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.84%Cost of funding earning assets
4.02%Net interest margin
4.82%Noninterest income to earning assets
1.04%Noninterest expense to earning assets
4.09%Net operating income to assets
0.49%Return on assets (ROA)
0.64%Pretax return on assets
0.85%Return on equity (ROE)
8.48%Retained earnings to average equity (YTD only)
2.03%Net charge-offs to loans
1.74%Credit loss provision to net charge-offs
93.86%Efficiency ratio
69,843Assets per employee
1.71%Cash dividends to net income (YTD only)
Condition Ratios (%)
76.07%Loss allowance to loans
1.43%Loss allowance to noncurrent loans
65.24%Noncurrent assets plus other real estate owned to assets
1.46%Noncurrent loans to loans
2.19%Net loans and leases to deposits
63.97%Net loans and leases to core deposits
67.35%Equity capital to assets
7.68%Core capital (leverage) ratio
7.63%Tier 1 risk-based capital ratio
11.32%Total risk-based capital ratio
Memoranda
$13Average assets
$141,979Average earning assets
$10,742Average equity
$128,347Average loans

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