First National Bank in Altavista, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

First National Bank - Overview

  • General
  • FDIC Certificate #: 6811
    Status: Active
    Federal Reserve ID: 979629
    Bank Holding Company (Regulatory Top Holder): Pinnacle Bankshares Corporation (RSSDID: 2534406, Location: Altavista, VA)
    Date Established: March 01, 1908
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 9 (Domestic: 9, Interstate: No)
    OTS Docket #: 13958
    FDIC's unique #: 4582
    Numeric code: 3
    Regulator: OCC
    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: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: January 02, 2009
    Last Structure Change Process Date: December 22, 2011
    Last Data Update: December 22, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 622 Broad Street, Altavista, VA 24517
    County: Campbell
    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): Lynchburg, VA (#4640)
    Core Based Statistical Area (CBSA): Lynchburg, VA (#31340)
    CBSA Metro Statistical Area: Lynchburg, VA (#31340)
  • History of Changes
  • Name Change
  • Financial Summary
  • Total assets: $341.9 mil
    Equity capital: $28.4 mil
    Deposits held in domestic offices: $310.4 mil
    Return on assets (ROA): 0.37% ($1.3 mil)
    Quarterly return on assets: 0.30% ($1.0 mil)
    Return on Equity (ROE): 4.43% ($1.2 mil)
    Quarterly return on equity: 3.61% ($1.0 mil)
    Net income: $1.3 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 0.55% ($1,880.5 mil)
    Quarterly Pretax return on assets: 0.48% ($1,641.2 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
  • 103Total employees (full-time equivalent)
  • $341,918Total assets
  • $37,547Cash and due from depository institutions
  • $32,361Interest-bearing balances
  • $24,769Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $267,123Net loans & leases
  • $4,015Loan loss allowance
  • $0Trading account assets
  • $6,537Bank premises and fixed assets
  • $645Other real estate owned
  • $539Goodwill and other intangibles
  • $341,918Life insurance assets
  • $4,758All other assets
  • $313,527Total liabilities and capital
  • $310,410Total liabilities
  • $276,961Total deposits
  • $310,410Interest-bearing deposits
  • $96Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $3,117Subordinated debt
  • $28,391All other liabilities
  • $28,391Total equity capital
  • $28,391Total bank equity capital
  • $0Perpetual preferred stock
  • $498Common stock
  • $4,162Surplus
  • $23,731Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $4,711Income earned, not collected on loans
  • $0Earning assets
  • $1,009Long-term assets (5+ years)
  • $324,253Average Assets, year-to-date
  • $62,015Average Assets, quarterly
  • $339,663Volatile liabilities
  • $343,307Insider loans
  • $277,965FHLB advances
  • $342,171Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $29,281Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $54,161Restructured Loans and leases
  • $1,149Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $16,517Total interest income
  • $4,426Total interest expense
  • $12,091Net interest income
  • $2,227Provision for loan and lease losses
  • $3,253Total noninterest income
  • $0Fiduciary activities
  • $837Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,416Additional noninterest income
  • $11,249Total noninterest expense
  • $6,268Salaries and employee benefits
  • $1,767Premises and equipment expense
  • $3,214Additional noninterest expense
  • $1,868Pre-tax net operating income
  • $0Securities gains (losses)
  • $610Applicable income taxes
  • $1,258Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,258Net income attributable to bank
  • $0Net charge-offs
  • $1,258Cash dividends
  • $2,249Sale, conversion, retirement of capital stock, net
  • $280Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.14%Yield on earning assets
  • 1.38%Cost of funding earning assets
  • 3.76%Net interest margin
  • 1.01%Noninterest income to earning assets
  • 3.50%Noninterest expense to earning assets
  • 0.37%Net operating income to assets
  • 0.37%Return on assets (ROA)
  • 0.55%Pretax return on assets
  • 4.43%Return on equity (ROE)
  • 3.44%Retained earnings to average equity (YTD only)
  • 0.83%Net charge-offs to loans
  • 99.02%Credit loss provision to net charge-offs
  • 1.82%Efficiency ratio
  • 73,312Assets per employee
  • 3.32%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 22.26%Loss allowance to loans
  • 1.48%Loss allowance to noncurrent loans
  • 85.23%Noncurrent assets plus other real estate owned to assets
  • 1.57%Noncurrent loans to loans
  • 1.74%Net loans and leases to deposits
  • 86.05%Net loans and leases to core deposits
  • 87.79%Equity capital to assets
  • 8.30%Core capital (leverage) ratio
  • 8.56%Tier 1 risk-based capital ratio
  • 10.53%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $339,663Average earning assets
  • $28,412Average equity
  • $321,509Average loans

List of branches

  • 9 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    04582First National Bank622 Broad Street, Altavista, VA 24517March 01, 1908Full Service Brick and Mortar
    1212254Vista Branch1307 Main Street, Altavista, VA 24517January 03, 1972Full Service Brick and Mortar
    3212255Airport Branch14580 Wards Road, Lynchburg, VA 24502June 24, 1999Full Service Brick and Mortar
    5262507Old Forest Road Branch3309 Old Forest Road, Lynchburg, VA 24501January 01, 1914Full Service Brick and Mortar
    6361970Timberlake Branch20865 Timberlake Road, Lynchburg, VA 24502August 11, 2000Full Service Brick and Mortar
    7442007Forest Branch14417 Forest Road, Forest, VA 24551August 01, 2004Full Service Brick and Mortar
    8442008Smith Mountain Lake Branch74 Scruggs Road Suite 102, Moneta, VA 24121June 30, 2005Limited Service Loan Production
    9458327Amherst Branch130 South Main Street, Amherst, VA 24521November 15, 2006Full Service Brick and Mortar
    10493046Rustburg Branch1033 Village Highway, Rustburg, VA 24588Febuary 12, 2009Full Service Brick and Mortar

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