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

This bank is inactive as of March 26, 1999

  • First Coastal Bank in Virginia Beach, Virginia (VA)
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First Coastal Bank - Overview

  • General
  • FDIC Certificate #: 29551
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: RBC Bank (USA) (#33184)
    Federal Reserve ID: 290173
    Date Established: October 01, 1935
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 3648
    FDIC's unique #: 42385
    Numeric code: 33
    Regulator: OTS
    Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
    FDIC Insured: Yes
    SAIF Insured: Yes
    Insured Savings Institution: Yes
    State Chartered: No
    Date of Deposit Insurance: November 02, 1935
    Last Structure Change Effective Date: March 26, 1999
    Last Structure Change Process Date: April 09, 1999
    Last Data Update: April 09, 1999
    Data Source Date: April 05, 2012
  • Location
  • Address: 2101 Parks Avenue, Virginia Beach, VA 23451
    County: Virginia Beach City
    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
    Metropolitan Statistical Area (MSA): Norfolk-Virginia Beach-Newport News, VA-NC (#5720)
    Core Based Statistical Area (CBSA): Virginia Beach-Norfolk-Newport News, VA-NC (#47260)
    CBSA Metro Statistical Area: Virginia Beach-Norfolk-Newport News, VA-NC (#47260)
  • Financial Summary
  • Total assets: $566.0 mil

1992 - 1999 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, 1998)

  • Dollar figures in thousands
  • 281Total employees (full-time equivalent)
  • $565,962Total assets
  • $17,565Cash and due from depository institutions
  • $262Interest-bearing balances
  • $80,746Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $445,103Net loans & leases
  • $4,374Loan loss allowance
  • $0Trading account assets
  • $7,631Bank premises and fixed assets
  • $1,881Other real estate owned
  • $190Goodwill and other intangibles
  • $0Life insurance assets
  • $12,846All other assets
  • $565,962Total liabilities and capital
  • $520,660Total liabilities
  • $395,440Total deposits
  • $356,772Interest-bearing deposits
  • $395,440Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $5,897Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $114,734Other borrowed funds
  • $0Subordinated debt
  • $4,589All other liabilities
  • $45,302Total equity capital
  • $45,302Total bank equity capital
  • $45,302Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $9,411Undivided profits
  • Memoranda
  • $35,891Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $3,159Earning assets
  • $0Long-term assets (5+ years)
  • $2,854Average Assets, year-to-date
  • $526,111Average Assets, quarterly
  • $0Volatile liabilities
  • $602,019Insider loans
  • $574,219FHLB advances
  • $212,273Loans and leases held for sale
  • $6,765Unused loan commitments
  • $114,734Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $94,005Total unused commitments
  • $0Restructured Loans and leases
  • $381,426Derivatives

Income and Expense (December 31, 1998)

  • Dollar figures in thousands
  • $45,540Total interest income
  • $27,210Total interest expense
  • $18,330Net interest income
  • $500Provision for loan and lease losses
  • $3,801Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $3,801Additional noninterest income
  • $18,708Total noninterest expense
  • $9,552Salaries and employee benefits
  • $4,768Premises and equipment expense
  • $4,388Additional noninterest expense
  • $2,923Pre-tax net operating income
  • $2,601Securities gains (losses)
  • $1,951Applicable income taxes
  • $3,573Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,573Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $400Sale, conversion, retirement of capital stock, net
  • $1,410Net operating income

Performance and Condition Ratios (December 31, 1998)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 8.08%Yield on earning assets
  • 4.83%Cost of funding earning assets
  • 3.25%Net interest margin
  • 0.67%Noninterest income to earning assets
  • 3.32%Noninterest expense to earning assets
  • 0.31%Net operating income to assets
  • 0.59%Return on assets (ROA)
  • 0.92%Pretax return on assets
  • 8.04%Return on equity (ROE)
  • 4.87%Retained earnings to average equity (YTD only)
  • 0.09%Net charge-offs to loans
  • 125.00%Credit loss provision to net charge-offs
  • 8.56%Efficiency ratio
  • 84,533Assets per employee
  • 2.01%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 39.46%Loss allowance to loans
  • 0.97%Loss allowance to noncurrent loans
  • 138.46%Noncurrent assets plus other real estate owned to assets
  • 0.89%Noncurrent loans to loans
  • 0.70%Net loans and leases to deposits
  • 112.56%Net loans and leases to core deposits
  • 146.51%Equity capital to assets
  • 8.00%Core capital (leverage) ratio
  • 8.03%Tier 1 risk-based capital ratio
  • 11.92%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $602,019Average earning assets
  • $44,422Average equity
  • $563,518Average loans

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