First Virginia Bank - Clinch Valley in city_name, state_name

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

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

First Virginia Bank - Clinch Valley - Overview

Assets and Liabilities (December 31, 1998)

Income and Expense (December 31, 1998)

Performance and Condition Ratios (December 31, 1998)

Comment about this bank, ask questions, or add new information about it:

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

First Virginia Bank - Clinch Valley - Overview

Assets and Liabilities (December 31, 1998)

Income and Expense (December 31, 1998)

Performance and Condition Ratios (December 31, 1998)

Comment about this bank, ask questions, or add new information about it:

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