First Virginia Bank in Falls Church, Virginia (VA)



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First Virginia Bank
GeneralFDIC Certificate #: 17092
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Branch Banking and Trust Company of Virginia (#22584)
Federal Reserve ID: 679125
Date Established: April 05, 1952
WWW: http://www.firstvirginia.com
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 90 (Interstate: No)
OTS Docket #: 13437
FDIC's unique #: 11142
Numeric code: 13
Regulator: FED
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: April 05, 1952
Last Structure Change Effective Date: October 10, 2003
Last Structure Change Process Date: November 04, 2003
Last Data Update: November 04, 2003
Data Source Date: April 05, 2012
LocationAddress: 6400 Arlington Boulevard, Falls Church, VA 22042
County: Falls Church 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): Washington, DC-MD-VA-WV (#8840)
Consolidated Metropolitan Statistical Area (CMSA): Washington-Baltimore, DC-MD-VA-WV (#97)
Combined Statistical Area (CSA): Washington-Baltimore-Northern Virginia, DC-MD-VA-WV (#548)
Core Based Statistical Area (CBSA): Washington-Arlington-Alexandria, DC-VA-MD-WV (#47900)
CBSA Metro Statistical Area: Washington-Arlington-Alexandria, DC-VA-MD-WV (#47900)
Core Based Statistical Division: Washington-Arlington-Alexandria, DC-VA-MD-WV (#47894)
Financial SummaryTotal assets: $5,526.1 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, 2002)
(Dollar figures in thousands)
Total employees (full-time equivalent)1,081
Total assets$4,505,616
Cash and due from depository institutions$175,082
Interest-bearing balances$208
Securities$1,611,917
Federal funds sold & reverse repurchase agreements$32,897
Net loans & leases$2,574,979
Loan loss allowance $28,874
Trading account assets$0
Bank premises and fixed assets$31,269
Other real estate owned$0
Goodwill and other intangibles$8,025
All other assets$71,447
Life insurance assets$0
Total liabilities and capital$4,505,616
Total liabilities$4,210,188
Total deposits$3,878,232
Interest-bearing deposits$2,896,729
Deposits held in domestic offices$3,878,232
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $253,471
Trading liabilities$0
Other borrowed funds $48,409
Subordinated debt $0
All other liabilities $30,076
Total equity capital$295,428
Total bank equity capital$295,428
Perpetual preferred stock$295,428
Common stock$0
Surplus$27,050
Undivided profits $39,276
Memoranda
Noncurrent loans and leases $229,102
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $430,943
Income earned, not collected on loans $0
Earning assets $7,229
Long-term assets (5+ years) $995
Average Assets, year-to-date $26,711
Average Assets, quarterly $4,220,001
Volatile liabilities $1,420,967
Insider loans $4,258,716
FHLB advances $4,424,236
Loans and leases held for sale $462,535
Unused loan commitments $21,477
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $403
Total risk weighted assets $2,953
Total unused commitments $430,943
Restructured Loans and leases $563
Derivatives$28,874
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Income and Expense (December 31, 2002)
(Dollar figures in thousands)
Total interest income $240,386
Total interest expense $43,761
Net interest income $196,625
Provision for loan and lease losses $7,713
Total noninterest income $59,610
Fiduciary activities $13,502
Service charges on deposit accounts $25,557
Trading account gains & fees $0
Additional noninterest income $20,551
Total noninterest expense $109,722
Salaries and employee benefits $46,090
Premises and equipment expense $12,067
Additional noninterest expense $51,565
Pre-tax net operating income $138,800
Securities gains (losses) $0
Applicable income taxes $45,240
Income before extraordinary items $93,560
Extraordinary gains - net $0
Net income attributable to bank $93,560
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $7,502
Net operating income $82,993
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Performance and Condition Ratios (December 31, 2002)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.01%
Cost of funding earning assets 1.09%
Net interest margin 4.91%
Noninterest income to earning assets 1.49%
Noninterest expense to earning assets 2.74%
Net operating income to assets 2.20%
Return on assets (ROA) 2.20%
Pretax return on assets 3.26%
Return on equity (ROE) 31.32%
Retained earnings to average equity (YTD only) 3.54%
Net charge-offs to loans 0.28%
Credit loss provision to net charge-offs 102.81%
Efficiency ratio19.53%
Assets per employee$42,751
Cash dividends to net income (YTD only)4.17%
Condition Ratios (%)
Loss allowance to loans 88.71%
Loss allowance to noncurrent loans 1.11%
Noncurrent assets plus other real estate owned to assets 399.42%
Noncurrent loans to loans 0.16%
Net loans and leases to deposits0.28%
Net loans and leases to core deposits 66.40%
Equity capital to assets 69.27%
Core capital (leverage) ratio 6.56%
Tier 1 risk-based capital ratio 6.56%
Total risk-based capital ratio 9.41%
Memoranda
Average assets$10
Average earning assets$4,258,716
Average equity $298,706
Average loans $4,002,528
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Total Fiduciary and Related Assets (December 31, 2002)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$1,221,465
Number of Accounts1
Personal trust and agency accounts$1,209,403
Employee benefit-defined contribution accounts$515,181
Employee benefit-defined benefit accounts$192,912
Other retirement accounts$159,995
Corporate trust and agency accounts$79,494
Investment management agency accounts$0
Other fiduciary accounts$261,821
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts1596
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$12,062
Corporate trust and agency accounts$5,004
Other fiduciary accounts$2,133
Fiduciary accounts held in foreign offices$1,075
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