First Virginia Bank - Commonwealth in Grafton, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 14, 1999

  • First Virginia Bank - Commonwealth in Grafton, Virginia (VA)
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First Virginia Bank - Commonwealth - Overview

  • General
  • FDIC Certificate #: 24860
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: First Virginia Bank - Hampton Roads (#6141)
    Federal Reserve ID: 1466050
    Date Established: December 31, 1983
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 19 (Interstate: No)
    FDIC's unique #: 17237
    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: December 31, 1983
    Last Structure Change Effective Date: July 14, 1999
    Last Structure Change Process Date: August 11, 1999
    Last Data Update: August 11, 1999
    Data Source Date: April 05, 2012
  • Location
  • Address: 1782 George Washington Memorial Highway, Grafton, VA 23692
    County: York
    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): Norfolk-Virginia Beach-Newport News, VA-NC (#5720)
    Core Based Statistical Area (CBSA): Virginia Beach-Norfolk-Newport News, VA-NC (#47260)
    CBSA Metro Statistical Area: Virginia Beach-Norfolk-Newport News, VA-NC (#47260)
  • Financial Summary
  • Total assets: $245.8 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
  • 131Total employees (full-time equivalent)
  • $249,156Total assets
  • $10,457Cash and due from depository institutions
  • $0Interest-bearing balances
  • $89,800Securities
  • $5,450Federal funds sold & reverse repurchase agreements
  • $134,973Net loans & leases
  • $1,508Loan loss allowance
  • $0Trading account assets
  • $6,026Bank premises and fixed assets
  • $77Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $2,373All other assets
  • $249,156Total liabilities and capital
  • $232,903Total liabilities
  • $220,901Total deposits
  • $174,923Interest-bearing deposits
  • $220,901Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $10,030Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $1,972All other liabilities
  • $16,253Total equity capital
  • $16,253Total bank equity capital
  • $16,253Perpetual preferred stock
  • $0Common stock
  • $5,000Surplus
  • $5,000Undivided profits
  • Memoranda
  • $6,253Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $285Earning assets
  • $0Long-term assets (5+ years)
  • $409Average Assets, year-to-date
  • $230,223Average Assets, quarterly
  • $64,894Volatile liabilities
  • $242,154Insider loans
  • $242,904FHLB advances
  • $23,821Loans and leases held for sale
  • $5,821Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $33,402Total unused commitments
  • $0Restructured Loans and leases
  • $135,062Derivatives

Income and Expense (December 31, 1998)

  • Dollar figures in thousands
  • $16,863Total interest income
  • $6,280Total interest expense
  • $10,583Net interest income
  • $128Provision for loan and lease losses
  • $3,399Total noninterest income
  • $0Fiduciary activities
  • $1,723Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,676Additional noninterest income
  • $9,842Total noninterest expense
  • $4,008Salaries and employee benefits
  • $1,307Premises and equipment expense
  • $4,527Additional noninterest expense
  • $4,012Pre-tax net operating income
  • $3Securities gains (losses)
  • $1,374Applicable income taxes
  • $2,641Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,641Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $125Sale, conversion, retirement of capital stock, net
  • $2,975Net operating income

Performance and Condition Ratios (December 31, 1998)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.64%Yield on earning assets
  • 2.84%Cost of funding earning assets
  • 4.79%Net interest margin
  • 1.54%Noninterest income to earning assets
  • 4.46%Noninterest expense to earning assets
  • 1.09%Net operating income to assets
  • 1.09%Return on assets (ROA)
  • 1.66%Pretax return on assets
  • 15.82%Return on equity (ROE)
  • -2.00%Retained earnings to average equity (YTD only)
  • 0.09%Net charge-offs to loans
  • 102.40%Credit loss provision to net charge-offs
  • 33.12%Efficiency ratio
  • 70,391Assets per employee
  • 1.90%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 112.65%Loss allowance to loans
  • 1.10%Loss allowance to noncurrent loans
  • 529.12%Noncurrent assets plus other real estate owned to assets
  • 0.15%Noncurrent loans to loans
  • 0.21%Net loans and leases to deposits
  • 61.10%Net loans and leases to core deposits
  • 65.17%Equity capital to assets
  • 6.52%Core capital (leverage) ratio
  • 6.65%Tier 1 risk-based capital ratio
  • 12.03%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $242,154Average earning assets
  • $16,699Average equity
  • $220,807Average loans

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