First Century Bank, Inc. in Bluefield, West Virginia (WV), VA
Overview, Financial Summary, Detailed Financial Reports, Branches

First Century Bank, Inc. - Overview

  • General
  • FDIC Certificate #: 6750
    Status: Active
    Federal Reserve ID: 569422
    Bank Holding Company (Regulatory Top Holder): First Century Bankshares, Inc. (RSSDID: 1076365, Location: Bluefield, WV)
    Date Established: October 09, 1891
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 12 (Domestic: 12, Interstate: Yes)
    OTS Docket #: 10126
    FDIC's unique #: 4530
    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: January 21, 2012
    Last Structure Change Process Date: January 26, 2012
    Last Data Update: January 26, 2012
    Data Source Date: April 05, 2012
  • Location
  • Address: 500 Federal Street, Bluefield, WV 24701
    County: Mercer
    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
    Core Based Statistical Area (CBSA): Bluefield, WV-VA (#14140)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Name Change
    Change in Primary Regulatory Agency
    Change in Supervisory Agency
  • Financial Summary
  • Total assets: $417.5 mil
    Equity capital: $39.6 mil
    Deposits held in domestic offices: $353.1 mil
    Return on assets (ROA): 0.56% ($2.3 mil)
    Quarterly return on assets: 0.80% ($3.3 mil)
    Return on Equity (ROE): 5.88% ($2.4 mil)
    Quarterly return on equity: 8.43% ($3.4 mil)
    Net income: $2.3 mil
    Quarterly Net income: $0.8 mil
    Pretax return on assets: 0.78% ($3,256.3 mil)
    Quarterly Pretax return on assets: 1.17% ($4,884.4 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
  • 146Total employees (full-time equivalent)
  • $417,474Total assets
  • $45,742Cash and due from depository institutions
  • $34,840Interest-bearing balances
  • $93,698Securities
  • $10,000Federal funds sold & reverse repurchase agreements
  • $243,462Net loans & leases
  • $4,905Loan loss allowance
  • $0Trading account assets
  • $12,503Bank premises and fixed assets
  • $1,179Other real estate owned
  • $5,183Goodwill and other intangibles
  • $417,474Life insurance assets
  • $5,707All other assets
  • $377,869Total liabilities and capital
  • $353,136Total liabilities
  • $295,246Total deposits
  • $353,136Interest-bearing deposits
  • $97Deposits held in domestic offices
  • 20097.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $4,636Subordinated debt
  • $39,605All other liabilities
  • $39,605Total equity capital
  • $39,605Total bank equity capital
  • $0Perpetual preferred stock
  • $4,500Common stock
  • $8,250Surplus
  • $26,855Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $14,658Income earned, not collected on loans
  • $0Earning assets
  • $832Long-term assets (5+ years)
  • $382,000Average Assets, year-to-date
  • $116,131Average Assets, quarterly
  • $415,242Volatile liabilities
  • $416,669Insider loans
  • $255,705FHLB advances
  • $415,567Loans and leases held for sale
  • $796Unused loan commitments
  • $796Tier 1 (core) risk-based capital
  • $38,347Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $36,554Restructured Loans and leases
  • $19,637Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $15,896Total interest income
  • $2,418Total interest expense
  • $13,478Net interest income
  • $3,241Provision for loan and lease losses
  • $6,159Total noninterest income
  • $1,796Fiduciary activities
  • $1,849Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,514Additional noninterest income
  • $13,784Total noninterest expense
  • $6,256Salaries and employee benefits
  • $2,324Premises and equipment expense
  • $5,204Additional noninterest expense
  • $2,612Pre-tax net operating income
  • $634Securities gains (losses)
  • $932Applicable income taxes
  • $2,314Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,314Net income attributable to bank
  • $0Net charge-offs
  • $2,314Cash dividends
  • $4,211Sale, conversion, retirement of capital stock, net
  • $700Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.19%Yield on earning assets
  • 0.64%Cost of funding earning assets
  • 3.56%Net interest margin
  • 1.63%Noninterest income to earning assets
  • 3.64%Noninterest expense to earning assets
  • 0.45%Net operating income to assets
  • 0.56%Return on assets (ROA)
  • 0.78%Pretax return on assets
  • 5.88%Return on equity (ROE)
  • 4.10%Retained earnings to average equity (YTD only)
  • 1.64%Net charge-offs to loans
  • 76.97%Credit loss provision to net charge-offs
  • 1.39%Efficiency ratio
  • 70,194Assets per employee
  • 2.86%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 30.25%Loss allowance to loans
  • 1.97%Loss allowance to noncurrent loans
  • 33.46%Noncurrent assets plus other real estate owned to assets
  • 3.79%Noncurrent loans to loans
  • 5.90%Net loans and leases to deposits
  • 68.94%Net loans and leases to core deposits
  • 73.39%Equity capital to assets
  • 9.49%Core capital (leverage) ratio
  • 9.23%Tier 1 risk-based capital ratio
  • 15.00%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $415,242Average earning assets
  • $39,356Average equity
  • $378,964Average 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
  • $281,992Managed Assets
  • 1Number of Accounts
  • $204,041Personal trust and agency accounts
  • $97,932Employee benefit-defined contribution accounts
  • $9,757Employee benefit-defined benefit accounts
  • $7,014Other retirement accounts
  • $16,655Corporate trust and agency accounts
  • $4,332Investment management agency accounts
  • $423Other fiduciary accounts
  • $67,421Fiduciary accounts held in foreign offices
  • $507Non-managed Assets
  • 565Number of Accounts
  • $0Personal trust and agency accounts
  • $16,655Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $77,951Other retirement accounts
  • $62,010Corporate trust and agency accounts
  • $6,438Other fiduciary accounts
  • $6,075Fiduciary accounts held in foreign offices

List of branches

  • 3 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    7263661Virginia Avenue Branch108 Spruce Street, Bluefield, VA 24605June 30, 1987Full Service Brick and Mortar
    947074Wytheville Branch200 Peppers Ferry Road, Wytheville, VA 24382May 24, 1991Full Service Brick and Mortar
    10212907Fort Chiswell BranchU.S. 52 And State Route 94, Wytheville, VA 24382April 02, 1963Full Service Brick and Mortar
  • 9 West Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    04530First Century Bank, Inc.500 Federal Street, Bluefield, WV 24701October 09, 1891Full Service Brick and Mortar
    2212092College Avenue Branch2020 College Avenue, Bluefield, WV 24701August 12, 1985Full Service Brick and Mortar
    3212093Princeton Branch1215-A Pine Plaza Shopping Center, Princeton, WV 24740September 17, 1986Full Service Brick and Mortar
    414374Oceana BranchMain Street And Route 85, Oceana, WV 24870September 22, 1972Full Service Brick and Mortar
    5251714Pineville BranchState Route 10, Pineville, WV 24874July 02, 1984Full Service Brick and Mortar
    6212094Century Square Drive-Thru Branch525 Federal Street, Bluefield, WV 24701April 07, 1997Limited Service Facility
    114544Hinton Main Branch321 Temple Street, Hinton, WV 25951January 01, 1887Full Service Brick and Mortar
    12364760Springhaven Branch145 Springhaven Drive, Princeton, WV 24740July 30, 2001Full Service Brick and Mortar
    13448008Harper Road Branch1826 Harper Road, Beckley, WV 25801January 17, 2006Full Service Brick and Mortar

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