First Exchange Bank in Mannington, West Virginia (WV)

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First Exchange Bank
GeneralFDIC Certificate #: 13020
Status: Active
Federal Reserve ID: 170332
Bank Holding Company (Regulatory Top Holder): Heritage Bancshares, Inc. (RSSDID: 2257116, Location: Mannington, WV)
Date Established: June 27, 1932
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 6 (Domestic: 6, Interstate: No)
OTS Docket #: 10261
FDIC's unique #: 8227
Numeric code: 21
Regulator: FDIC
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: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 11 West Main Street, Mannington, WV 26582
County: Marion
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
Combined Statistical Area (CSA): Fairmont-Clarksburg, WV (#242)
Core Based Statistical Area (CBSA): Fairmont, WV (#21900)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $200.9 mil
Equity capital: $16.9 mil
Deposits held in domestic offices: $181.7 mil
Return on assets (ROA): 0.17% ($0.3 mil)
Quarterly return on assets: -1.85% (-$3.7 mil)
Return on Equity (ROE): 2.00% ($0.3 mil)
Quarterly return on equity: -21.71% (-$3.7 mil)
Net income: $0.3 mil
Quarterly Net income: -$0.9 mil
Pretax return on assets: 0.17% ($341.5 mil)
Quarterly Pretax return on assets: -1.85% (-$3,715.8 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)67
Total assets$200,855
Cash and due from depository institutions$15,516
Interest-bearing balances$11,541
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$164,155
Loan loss allowance $2,565
Trading account assets$0
Bank premises and fixed assets$3,115
Other real estate owned$1,364
Goodwill and other intangibles$0
All other assets$4,416
Life insurance assets$200,855
Total liabilities and capital$184,003
Total liabilities$181,708
Total deposits$154,771
Interest-bearing deposits$181,708
Deposits held in domestic offices$95
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$1,305
Other borrowed funds $0
Subordinated debt $990
All other liabilities $16,852
Total equity capital$16,852
Total bank equity capital$16,852
Perpetual preferred stock$0
Common stock$1,400
Undivided profits $8,238
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $190
Income earned, not collected on loans $5,725
Earning assets $0
Long-term assets (5+ years) $670
Average Assets, year-to-date $187,985
Average Assets, quarterly $126,665
Volatile liabilities $202,689
Insider loans $200,393
FHLB advances $138,578
Loans and leases held for sale $200,061
Unused loan commitments $1,716
Tier 1 (core) risk-based capital $1,716
Tier 2 risk-based capital $16,549
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $7,980
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $10,625
Total interest expense $2,890
Net interest income $7,735
Provision for loan and lease losses $2,934
Total noninterest income $1,039
Fiduciary activities $0
Service charges on deposit accounts $595
Trading account gains & fees $0
Additional noninterest income $444
Total noninterest expense $5,503
Salaries and employee benefits $2,501
Premises and equipment expense $987
Additional noninterest expense $2,015
Pre-tax net operating income $337
Securities gains (losses) $0
Applicable income taxes $0
Income before extraordinary items $337
Extraordinary gains - net $0
Net income attributable to bank $337
Net charge-offs $0
Cash dividends $337
Sale, conversion, retirement of capital stock, net $2,524
Net operating income $871
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.60%
Cost of funding earning assets 1.52%
Net interest margin 4.08%
Noninterest income to earning assets 0.55%
Noninterest expense to earning assets 2.90%
Net operating income to assets 0.17%
Return on assets (ROA) 0.17%
Pretax return on assets 0.17%
Return on equity (ROE) 2.00%
Retained earnings to average equity (YTD only) -3.18%
Net charge-offs to loans 1.46%
Credit loss provision to net charge-offs 116.24%
Efficiency ratio1.30%
Assets per employee$62,719
Cash dividends to net income (YTD only)3.00%
Condition Ratios (%)
Loss allowance to loans 258.46%
Loss allowance to noncurrent loans 1.54%
Noncurrent assets plus other real estate owned to assets 44.80%
Noncurrent loans to loans 3.53%
Net loans and leases to deposits3.43%
Net loans and leases to core deposits 90.34%
Equity capital to assets 93.20%
Core capital (leverage) ratio 8.39%
Tier 1 risk-based capital ratio 8.27%
Total risk-based capital ratio 11.94%
Average assets$13
Average earning assets$202,689
Average equity $16,811
Average loans $189,745
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6 West Virginia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
08227First Exchange Bank11 West Main Street, Mannington, WV 26582June 27, 1932Full Service Brick and Mortar
1228749Fairmont Branch216 Fairmont Avenue, Fairmont, WV 26554May 06, 1996Full Service Brick and Mortar
2228750Hundred BranchPo Box 780 Rt 250, Hundred, WV 26575April 14, 1997Full Service Brick and Mortar
3228751Fairview Branch309 Main Street, Fairview, WV 26570November 09, 1998Full Service Brick and Mortar
4363496Barrackville Branch211 Pike Street, Barrackville, WV 26559April 08, 2002Full Service Brick and Mortar
64192343081 University Ave. Branch3081 University Ave., Morgantown, WV 26505November 12, 2002Full Service Brick and Mortar
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