First Sentinel Bank in Richlands, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches


First Sentinel Bank - Overview

  • General
  • FDIC Certificate #: 31928
    Status: Active
    Federal Reserve ID: 920975
    Bank Holding Company (Regulatory Top Holder): First Region Bancshares, Inc. (RSSDID: 2702250, Location: Richlands, VA)
    Date Established: June 20, 1978
    WWW: http://www.firstsentinelbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 5 (Domestic: 5, Interstate: No)
    OTS Docket #: 7612
    FDIC's unique #: 44762
    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: Consumer Lending Specialization
    Date of Deposit Insurance: June 20, 1978
    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: 315 Railroad Avenue, Richlands, VA 24641
    County: Tazewell
    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
    Core Based Statistical Area (CBSA): Bluefield, WV-VA (#14140)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $167.5 mil
    Equity capital: $14.8 mil
    Deposits held in domestic offices: $149.9 mil
    Return on assets (ROA): 1.03% ($1.7 mil)
    Quarterly return on assets: 1.30% ($2.2 mil)
    Return on Equity (ROE): 11.89% ($1.8 mil)
    Quarterly return on equity: 14.73% ($2.2 mil)
    Net income: $1.7 mil
    Quarterly Net income: $0.5 mil
    Pretax return on assets: 1.59% ($2,663.1 mil)
    Quarterly Pretax return on assets: 1.99% ($3,333.1 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
  • 68Total employees (full-time equivalent)
  • $167,493Total assets
  • $21,812Cash and due from depository institutions
  • $15,269Interest-bearing balances
  • $5,385Securities
  • $6,870Federal funds sold & reverse repurchase agreements
  • $123,419Net loans & leases
  • $2,267Loan loss allowance
  • $0Trading account assets
  • $3,490Bank premises and fixed assets
  • $883Other real estate owned
  • $0Goodwill and other intangibles
  • $167,493Life insurance assets
  • $5,634All other assets
  • $152,728Total liabilities and capital
  • $149,924Total liabilities
  • $130,010Total deposits
  • $149,924Interest-bearing deposits
  • $96Deposits held in domestic offices
  • 2047.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $757Subordinated debt
  • $14,765All other liabilities
  • $14,765Total equity capital
  • $14,765Total bank equity capital
  • $0Perpetual preferred stock
  • $884Common stock
  • $1,820Surplus
  • $12,061Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,947Income earned, not collected on loans
  • $0Earning assets
  • $548Long-term assets (5+ years)
  • $150,943Average Assets, year-to-date
  • $32,696Average Assets, quarterly
  • $169,498Volatile liabilities
  • $168,638Insider loans
  • $111,321FHLB advances
  • $169,946Loans and leases held for sale
  • $3,009Unused loan commitments
  • $1,304Tier 1 (core) risk-based capital
  • $14,644Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $1,705Total unused commitments
  • $7,233Restructured Loans and leases
  • $1,471Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $10,258Total interest income
  • $1,925Total interest expense
  • $8,333Net interest income
  • $866Provision for loan and lease losses
  • $1,286Total noninterest income
  • $0Fiduciary activities
  • $622Service charges on deposit accounts
  • $0Trading account gains & fees
  • $664Additional noninterest income
  • $6,059Total noninterest expense
  • $3,196Salaries and employee benefits
  • $736Premises and equipment expense
  • $2,127Additional noninterest expense
  • $2,694Pre-tax net operating income
  • $0Securities gains (losses)
  • $948Applicable income taxes
  • $1,746Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,746Net income attributable to bank
  • $0Net charge-offs
  • $1,746Cash dividends
  • $826Sale, conversion, retirement of capital stock, net
  • $1,470Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.58%Yield on earning assets
  • 1.23%Cost of funding earning assets
  • 5.34%Net interest margin
  • 0.82%Noninterest income to earning assets
  • 3.89%Noninterest expense to earning assets
  • 1.03%Net operating income to assets
  • 1.03%Return on assets (ROA)
  • 1.59%Pretax return on assets
  • 11.89%Return on equity (ROE)
  • 1.88%Retained earnings to average equity (YTD only)
  • 0.65%Net charge-offs to loans
  • 104.84%Credit loss provision to net charge-offs
  • 4.31%Efficiency ratio
  • 62,990Assets per employee
  • 2.46%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 84.19%Loss allowance to loans
  • 1.80%Loss allowance to noncurrent loans
  • 76.93%Noncurrent assets plus other real estate owned to assets
  • 2.29%Noncurrent loans to loans
  • 2.34%Net loans and leases to deposits
  • 82.32%Net loans and leases to core deposits
  • 84.13%Equity capital to assets
  • 8.82%Core capital (leverage) ratio
  • 8.62%Tier 1 risk-based capital ratio
  • 13.15%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $169,498Average earning assets
  • $14,686Average equity
  • $155,945Average loans

List of branches

  • 5 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    044762First Sentinel Bank315 Railroad Avenue, Richlands, VA 24641June 20, 1978Full Service Brick and Mortar
    1286257Tazewell Branch200 Valley View Street, North Tazewell, VA 24630June 20, 1978Full Service Brick and Mortar
    2362850Claypool Hill Branch12678 George C. Perry Hwy, Pounding Mill, VA 24637November 28, 2001Full Service Brick and Mortar
    3453525Lebanon Branch66 Townview Drive, Lebanon, VA 24266May 30, 2006Full Service Brick and Mortar
    4467278Bluefield Branch801 S. College Ave., Ste. 5, Bluefield, VA 24605April 30, 2007Full Service Brick and Mortar

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