First Virginia Bank - Clinch Valley in Richlands, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 06, 1999

  • First Virginia Bank - Clinch Valley in Richlands, Virginia (VA)
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First Virginia Bank - Clinch Valley - Overview

  • General
  • FDIC Certificate #: 20969
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: First Virginia Bank-Southwest (#20877)
    Federal Reserve ID: 395528
    Date Established: Febuary 21, 1973
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 11 (Interstate: No)
    FDIC's unique #: 14482
    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: Febuary 21, 1973
    Last Structure Change Effective Date: March 06, 1999
    Last Structure Change Process Date: March 17, 1999
    Last Data Update: March 17, 1999
    Data Source Date: April 05, 2012
  • Location
  • Address: 501 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
  • Financial Summary
  • Total assets: $266.1 mil

1992 - 1999 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, 1998)

  • Dollar figures in thousands
  • 104Total employees (full-time equivalent)
  • $266,106Total assets
  • $8,355Cash and due from depository institutions
  • $0Interest-bearing balances
  • $91,664Securities
  • $4,100Federal funds sold & reverse repurchase agreements
  • $152,611Net loans & leases
  • $1,747Loan loss allowance
  • $0Trading account assets
  • $4,074Bank premises and fixed assets
  • $110Other real estate owned
  • $334Goodwill and other intangibles
  • $0Life insurance assets
  • $4,858All other assets
  • $266,106Total liabilities and capital
  • $234,889Total liabilities
  • $227,823Total deposits
  • $192,617Interest-bearing deposits
  • $227,823Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $3,333Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $3,733All other liabilities
  • $31,217Total equity capital
  • $31,217Total bank equity capital
  • $31,217Perpetual preferred stock
  • $0Common stock
  • $3,539Surplus
  • $8,834Undivided profits
  • Memoranda
  • $18,844Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $838Earning assets
  • $0Long-term assets (5+ years)
  • $1,889Average Assets, year-to-date
  • $248,375Average Assets, quarterly
  • $81,201Volatile liabilities
  • $269,269Insider loans
  • $265,302FHLB advances
  • $35,466Loans and leases held for sale
  • $3,356Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $13,680Total unused commitments
  • $0Restructured Loans and leases
  • $156,383Derivatives

Income and Expense (December 31, 1998)

  • Dollar figures in thousands
  • $20,353Total interest income
  • $7,896Total interest expense
  • $12,457Net interest income
  • $123Provision for loan and lease losses
  • $1,257Total noninterest income
  • $0Fiduciary activities
  • $803Service charges on deposit accounts
  • $0Trading account gains & fees
  • $454Additional noninterest income
  • $7,813Total noninterest expense
  • $3,163Salaries and employee benefits
  • $733Premises and equipment expense
  • $3,917Additional noninterest expense
  • $5,778Pre-tax net operating income
  • $10Securities gains (losses)
  • $1,605Applicable income taxes
  • $4,183Income before extraordinary items
  • $0Extraordinary gains - net
  • $4,183Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $308Sale, conversion, retirement of capital stock, net
  • $5,415Net operating income

Performance and Condition Ratios (December 31, 1998)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 8.10%Yield on earning assets
  • 3.14%Cost of funding earning assets
  • 4.96%Net interest margin
  • 0.50%Noninterest income to earning assets
  • 3.11%Noninterest expense to earning assets
  • 1.55%Net operating income to assets
  • 1.55%Return on assets (ROA)
  • 2.15%Pretax return on assets
  • 13.24%Return on equity (ROE)
  • -3.90%Retained earnings to average equity (YTD only)
  • 0.19%Net charge-offs to loans
  • 39.94%Credit loss provision to net charge-offs
  • 19.16%Efficiency ratio
  • 56,125Assets per employee
  • 2.56%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 129.45%Loss allowance to loans
  • 1.13%Loss allowance to noncurrent loans
  • 208.47%Noncurrent assets plus other real estate owned to assets
  • 0.36%Noncurrent loans to loans
  • 0.54%Net loans and leases to deposits
  • 66.99%Net loans and leases to core deposits
  • 77.99%Equity capital to assets
  • 11.73%Core capital (leverage) ratio
  • 11.70%Tier 1 risk-based capital ratio
  • 19.75%Total risk-based capital ratio
  • Memoranda
  • $21Average assets
  • $269,269Average earning assets
  • $31,596Average equity
  • $251,353Average loans

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