First Virginia Bank - Hampton Roads in Norfolk, Virginia (VA)

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First Virginia Bank - Hampton Roads
GeneralFDIC Certificate #: 6141
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Branch Banking and Trust Company of Virginia (#22584)
Federal Reserve ID: 832920
Date Established: September 12, 1932
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 51 (Interstate: No)
FDIC's unique #: 4144
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: January 01, 1934
Last Structure Change Effective Date: October 10, 2003
Last Structure Change Process Date: November 21, 2003
Last Data Update: November 21, 2003
Data Source Date: April 05, 2012
LocationAddress: 555 Main Street, Norfolk, VA 23510
County: Norfolk 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): 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 SummaryTotal assets: $1,269.0 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)421
Total assets$1,154,897
Cash and due from depository institutions$41,387
Interest-bearing balances$53
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$668,563
Loan loss allowance $7,505
Trading account assets$0
Bank premises and fixed assets$19,554
Other real estate owned$23
Goodwill and other intangibles$31,908
All other assets$14,327
Life insurance assets$0
Total liabilities and capital$1,154,897
Total liabilities$1,055,230
Total deposits$976,396
Interest-bearing deposits$763,185
Deposits held in domestic offices$976,396
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $41,244
Trading liabilities$0
Other borrowed funds $30,400
Subordinated debt $0
All other liabilities $7,190
Total equity capital$99,667
Total bank equity capital$99,667
Perpetual preferred stock$99,667
Common stock$0
Undivided profits $65,104
Noncurrent loans and leases $13,013
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $153,838
Income earned, not collected on loans $0
Earning assets $1,466
Long-term assets (5+ years) $21
Average Assets, year-to-date $4,202
Average Assets, quarterly $1,047,751
Volatile liabilities $473,650
Insider loans $1,150,539
FHLB advances $1,156,492
Loans and leases held for sale $103,112
Unused loan commitments $11,520
Tier 1 (core) risk-based capital $8,000
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $153,838
Restructured Loans and leases $0
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Income and Expense (December 31, 2002)
(Dollar figures in thousands)
Total interest income $68,376
Total interest expense $15,865
Net interest income $52,511
Provision for loan and lease losses $343
Total noninterest income $17,336
Fiduciary activities $19
Service charges on deposit accounts $10,409
Trading account gains & fees $0
Additional noninterest income $6,908
Total noninterest expense $43,097
Salaries and employee benefits $15,700
Premises and equipment expense $5,106
Additional noninterest expense $22,291
Pre-tax net operating income $26,407
Securities gains (losses) $0
Applicable income taxes $8,847
Income before extraordinary items $17,560
Extraordinary gains - net $0
Net income attributable to bank $17,560
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $696
Net operating income $17,000
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Performance and Condition Ratios (December 31, 2002)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.59%
Cost of funding earning assets 1.53%
Net interest margin 5.06%
Noninterest income to earning assets 1.67%
Noninterest expense to earning assets 4.15%
Net operating income to assets 1.53%
Return on assets (ROA) 1.53%
Pretax return on assets 2.30%
Return on equity (ROE) 16.91%
Retained earnings to average equity (YTD only) 0.54%
Net charge-offs to loans 0.10%
Credit loss provision to net charge-offs 49.28%
Efficiency ratio38.43%
Assets per employee$60,572
Cash dividends to net income (YTD only)2.74%
Condition Ratios (%)
Loss allowance to loans 96.81%
Loss allowance to noncurrent loans 1.11%
Noncurrent assets plus other real estate owned to assets 511.94%
Noncurrent loans to loans 0.13%
Net loans and leases to deposits0.22%
Net loans and leases to core deposits 68.47%
Equity capital to assets 71.36%
Core capital (leverage) ratio 8.63%
Tier 1 risk-based capital ratio 6.09%
Total risk-based capital ratio 9.59%
Average assets$11
Average earning assets$1,150,539
Average equity $103,829
Average loans $1,038,161
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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$41,137
Number of Accounts1
Personal trust and agency accounts$39,902
Employee benefit-defined contribution accounts$26,134
Employee benefit-defined benefit accounts$1,335
Other retirement accounts$0
Corporate trust and agency accounts$3,102
Investment management agency accounts$0
Other fiduciary accounts$9,331
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts154
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$1,235
Corporate trust and agency accounts$1,235
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
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