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- Banks in Virginia (VA)
- First Virginia Bank - Highlands
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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- Banks in Virginia (VA)
- First Virginia Bank - Highlands
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