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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