First Virginia Bank - Highlands in Covington, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 21, 1997

  • First Virginia Bank - Highlands in Covington, Virginia (VA)
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First Virginia Bank - Highlands - Overview

  • General
  • FDIC Certificate #: 6833
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: First Virginia Bank-Southwest (#20877)
    Federal Reserve ID: 777928
    Date Established: January 17, 1891
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 3 (Interstate: No)
    FDIC's unique #: 4593
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Oakar Institutions: Yes
    State Chartered: Yes
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: June 21, 1997
    Last Structure Change Process Date: July 01, 1997
    Last Data Update: July 01, 1997
    Data Source Date: April 05, 2012
  • Location
  • Address: 450 West Main Street, Covington, VA 24426
    County: Covington 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
  • Financial Summary
  • Total assets: $128.9 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $34Total assets
  • $128,048Cash and due from depository institutions
  • $2,835Interest-bearing balances
  • $0Securities
  • $34,334Federal funds sold & reverse repurchase agreements
  • $5,280Net loans & leases
  • $82,876Loan loss allowance
  • $835Trading account assets
  • $0Bank premises and fixed assets
  • $1,369Other real estate owned
  • $0Goodwill and other intangibles
  • $1,354Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $128,048Total liabilities
  • $118,136Total deposits
  • $116,638Interest-bearing deposits
  • $103,156Deposits held in domestic offices
  • 116638.00%% insured (estimated)
  • $92Federal funds purchased & repurchase agreements
  • $640Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $858Total equity capital
  • $858Total bank equity capital
  • $9,912Perpetual preferred stock
  • $0Common stock
  • $2,300Surplus
  • $2,300Undivided profits
  • Memoranda
  • $5,312Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $152Income earned, not collected on loans
  • $261Earning assets
  • $122,490Long-term assets (5+ years)
  • $38,469Average Assets, year-to-date
  • $130,659Average Assets, quarterly
  • $128,242Volatile liabilities
  • $10,352Insider loans
  • $709FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $5,568Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $9,912Total risk weighted assets
  • $71,635Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1996)

  • Dollar figures in thousands
  • $0Total interest income
  • $9,597Total interest expense
  • $4,101Net interest income
  • $5,496Provision for loan and lease losses
  • $198Total noninterest income
  • $616Fiduciary activities
  • $0Service charges on deposit accounts
  • $448Trading account gains & fees
  • $0Additional noninterest income
  • $168Total noninterest expense
  • $2,754Salaries and employee benefits
  • $920Premises and equipment expense
  • $191Additional noninterest expense
  • $1,643Pre-tax net operating income
  • $3,160Securities gains (losses)
  • $0Applicable income taxes
  • $1,105Income before extraordinary items
  • $2,055Extraordinary gains - net
  • $0Net income attributable to bank
  • $2,055Net charge-offs
  • $181Cash dividends
  • $2,414Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1996)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 7.66%Cost of funding earning assets
  • 3.27%Net interest margin
  • 4.39%Noninterest income to earning assets
  • 0.49%Noninterest expense to earning assets
  • 2.20%Net operating income to assets
  • 1.57%Return on assets (ROA)
  • 1.57%Pretax return on assets
  • 2.42%Return on equity (ROE)
  • 20.27%Retained earnings to average equity (YTD only)
  • -3.54%Net charge-offs to loans
  • 0.21%Credit loss provision to net charge-offs
  • 109.39%Efficiency ratio
  • 45,059Assets per employee
  • 3.77%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 117.47%Loss allowance to loans
  • 1.00%Loss allowance to noncurrent loans
  • 549.34%Noncurrent assets plus other real estate owned to assets
  • 0.12%Noncurrent loans to loans
  • 0.18%Net loans and leases to deposits
  • 71.05%Net loans and leases to core deposits
  • 77.51%Equity capital to assets
  • 7.74%Core capital (leverage) ratio
  • 7.75%Tier 1 risk-based capital ratio
  • 13.84%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $130,659Average earning assets
  • $10,138Average equity
  • $125,328Average loans

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