First Exchange Bank in Mannington, West Virginia (WV)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • First Exchange Bank in Mannington, West Virginia (WV)
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First Exchange Bank - Overview

  • General
  • FDIC 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
  • Location
  • Address: 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 Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total 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
  • 67Total employees (full-time equivalent)
  • $200,855Total assets
  • $15,516Cash and due from depository institutions
  • $11,541Interest-bearing balances
  • $12,289Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $164,155Net loans & leases
  • $2,565Loan loss allowance
  • $0Trading account assets
  • $3,115Bank premises and fixed assets
  • $1,364Other real estate owned
  • $0Goodwill and other intangibles
  • $200,855Life insurance assets
  • $4,416All other assets
  • $184,003Total liabilities and capital
  • $181,708Total liabilities
  • $154,771Total deposits
  • $181,708Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $1,305Trading liabilities
  • $0Other borrowed funds
  • $990Subordinated debt
  • $16,852All other liabilities
  • $16,852Total equity capital
  • $16,852Total bank equity capital
  • $0Perpetual preferred stock
  • $1,400Common stock
  • $7,214Surplus
  • $8,238Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $190Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $5,725Income earned, not collected on loans
  • $0Earning assets
  • $670Long-term assets (5+ years)
  • $187,985Average Assets, year-to-date
  • $126,665Average Assets, quarterly
  • $202,689Volatile liabilities
  • $200,393Insider loans
  • $138,578FHLB advances
  • $200,061Loans and leases held for sale
  • $1,716Unused loan commitments
  • $1,716Tier 1 (core) risk-based capital
  • $16,549Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $7,980Restructured Loans and leases
  • $5,491Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $10,625Total interest income
  • $2,890Total interest expense
  • $7,735Net interest income
  • $2,934Provision for loan and lease losses
  • $1,039Total noninterest income
  • $0Fiduciary activities
  • $595Service charges on deposit accounts
  • $0Trading account gains & fees
  • $444Additional noninterest income
  • $5,503Total noninterest expense
  • $2,501Salaries and employee benefits
  • $987Premises and equipment expense
  • $2,015Additional noninterest expense
  • $337Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $337Income before extraordinary items
  • $0Extraordinary gains - net
  • $337Net income attributable to bank
  • $0Net charge-offs
  • $337Cash dividends
  • $2,524Sale, conversion, retirement of capital stock, net
  • $871Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.60%Yield on earning assets
  • 1.52%Cost of funding earning assets
  • 4.08%Net interest margin
  • 0.55%Noninterest income to earning assets
  • 2.90%Noninterest expense to earning assets
  • 0.17%Net operating income to assets
  • 0.17%Return on assets (ROA)
  • 0.17%Pretax return on assets
  • 2.00%Return on equity (ROE)
  • -3.18%Retained earnings to average equity (YTD only)
  • 1.46%Net charge-offs to loans
  • 116.24%Credit loss provision to net charge-offs
  • 1.30%Efficiency ratio
  • 62,719Assets per employee
  • 3.00%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 258.46%Loss allowance to loans
  • 1.54%Loss allowance to noncurrent loans
  • 44.80%Noncurrent assets plus other real estate owned to assets
  • 3.53%Noncurrent loans to loans
  • 3.43%Net loans and leases to deposits
  • 90.34%Net loans and leases to core deposits
  • 93.20%Equity capital to assets
  • 8.39%Core capital (leverage) ratio
  • 8.27%Tier 1 risk-based capital ratio
  • 11.94%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $202,689Average earning assets
  • $16,811Average equity
  • $189,745Average loans

List of branches

  • 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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