First Virginia Bank - Piedmont in Lynchburg, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 06, 1999

  • First Virginia Bank - Piedmont in Lynchburg, Virginia (VA)
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First Virginia Bank - Piedmont - Overview

  • General
  • FDIC Certificate #: 21511
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: First Virginia Bank-Southwest (#20877)
    Federal Reserve ID: 144829
    Date Established: April 01, 1974
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 12 (Interstate: No)
    FDIC's unique #: 14877
    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: April 01, 1974
    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: 7901 Timberlake Road, Lynchburg, VA 24502
    County: Lynchburg 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): Lynchburg, VA (#4640)
    Core Based Statistical Area (CBSA): Lynchburg, VA (#31340)
    CBSA Metro Statistical Area: Lynchburg, VA (#31340)
  • Financial Summary
  • Total assets: $222.5 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)
  • $222,497Total assets
  • $8,330Cash and due from depository institutions
  • $0Interest-bearing balances
  • $39,009Securities
  • $7,220Federal funds sold & reverse repurchase agreements
  • $162,698Net loans & leases
  • $1,849Loan loss allowance
  • $0Trading account assets
  • $2,670Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $2,570All other assets
  • $222,497Total liabilities and capital
  • $206,814Total liabilities
  • $199,112Total deposits
  • $167,599Interest-bearing deposits
  • $199,112Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $5,566Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $2,136All other liabilities
  • $15,683Total equity capital
  • $15,683Total bank equity capital
  • $15,683Perpetual preferred stock
  • $0Common stock
  • $4,000Surplus
  • $2,000Undivided profits
  • Memoranda
  • $9,683Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $539Earning assets
  • $0Long-term assets (5+ years)
  • $618Average Assets, year-to-date
  • $208,927Average Assets, quarterly
  • $70,286Volatile liabilities
  • $213,691Insider loans
  • $218,907FHLB advances
  • $20,478Loans and leases held for sale
  • $1,745Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $2,046Total risk weighted assets
  • $20,588Total unused commitments
  • $0Restructured Loans and leases
  • $153,674Derivatives

Income and Expense (December 31, 1998)

  • Dollar figures in thousands
  • $16,815Total interest income
  • $6,592Total interest expense
  • $10,223Net interest income
  • $416Provision for loan and lease losses
  • $1,524Total noninterest income
  • $0Fiduciary activities
  • $1,089Service charges on deposit accounts
  • $0Trading account gains & fees
  • $435Additional noninterest income
  • $6,732Total noninterest expense
  • $2,745Salaries and employee benefits
  • $435Premises and equipment expense
  • $3,552Additional noninterest expense
  • $4,599Pre-tax net operating income
  • $1Securities gains (losses)
  • $1,610Applicable income taxes
  • $2,990Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,990Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $410Sale, conversion, retirement of capital stock, net
  • $2,760Net operating income

Performance and Condition Ratios (December 31, 1998)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 8.40%Yield on earning assets
  • 3.29%Cost of funding earning assets
  • 5.11%Net interest margin
  • 0.76%Noninterest income to earning assets
  • 3.36%Noninterest expense to earning assets
  • 1.40%Net operating income to assets
  • 1.40%Return on assets (ROA)
  • 2.15%Pretax return on assets
  • 19.10%Return on equity (ROE)
  • 1.47%Retained earnings to average equity (YTD only)
  • 0.25%Net charge-offs to loans
  • 101.46%Credit loss provision to net charge-offs
  • 12.23%Efficiency ratio
  • 57,147Assets per employee
  • 2.14%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 92.31%Loss allowance to loans
  • 1.12%Loss allowance to noncurrent loans
  • 343.04%Noncurrent assets plus other real estate owned to assets
  • 0.24%Noncurrent loans to loans
  • 0.33%Net loans and leases to deposits
  • 81.71%Net loans and leases to core deposits
  • 88.33%Equity capital to assets
  • 7.05%Core capital (leverage) ratio
  • 7.18%Tier 1 risk-based capital ratio
  • 10.21%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $213,691Average earning assets
  • $15,658Average equity
  • $200,198Average loans

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