First Western Bank in Burnsville, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of December 31, 2001

  • First Western Bank in Burnsville, North Carolina (NC)
  • Show street view No street view available for this location

First Western Bank - Overview

  • General
  • FDIC Certificate #: 34570
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: MountainBank (#34438)
    Federal Reserve ID: 2640772
    Date Established: December 15, 1997
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Interstate: No)
    FDIC's unique #: 59078
    Numeric code: 21
    Regulator: FDIC
    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: December 15, 1997
    Last Structure Change Effective Date: December 31, 2001
    Last Structure Change Process Date: January 22, 2002
    Last Data Update: January 22, 2002
    Data Source Date: April 05, 2012
  • Location
  • Address: 600 West By-Pass, Burnsville, NC 28714
    County: Yancey
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Charlotte
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Southeast
  • Financial Summary
  • Total assets: $97.1 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, 2000)

  • Dollar figures in thousands
  • 37Total employees (full-time equivalent)
  • $71,847Total assets
  • $2,341Cash and due from depository institutions
  • $189Interest-bearing balances
  • $12,741Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $51,323Net loans & leases
  • $714Loan loss allowance
  • $0Trading account assets
  • $3,814Bank premises and fixed assets
  • $37Other real estate owned
  • $1,177Goodwill and other intangibles
  • $0Life insurance assets
  • $414All other assets
  • $71,847Total liabilities and capital
  • $58,375Total liabilities
  • $56,926Total deposits
  • $48,850Interest-bearing deposits
  • $56,926Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $710Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $739All other liabilities
  • $13,472Total equity capital
  • $13,472Total bank equity capital
  • $13,472Perpetual preferred stock
  • $0Common stock
  • $6,977Surplus
  • $6,882Undivided profits
  • Memoranda
  • $-387Noncurrent loans and leases
  • $6,181Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $316Earning assets
  • $0Long-term assets (5+ years)
  • $227Average Assets, year-to-date
  • $64,253Average Assets, quarterly
  • $26,264Volatile liabilities
  • $67,937Insider loans
  • $70,959FHLB advances
  • $12,242Loans and leases held for sale
  • $4,186Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $6,181Total unused commitments
  • $0Restructured Loans and leases
  • $655Derivatives

Income and Expense (December 31, 2000)

  • Dollar figures in thousands
  • $4,968Total interest income
  • $2,242Total interest expense
  • $2,726Net interest income
  • $199Provision for loan and lease losses
  • $609Total noninterest income
  • $0Fiduciary activities
  • $228Service charges on deposit accounts
  • $0Trading account gains & fees
  • $381Additional noninterest income
  • $3,046Total noninterest expense
  • $1,371Salaries and employee benefits
  • $401Premises and equipment expense
  • $1,274Additional noninterest expense
  • $90Pre-tax net operating income
  • $0Securities gains (losses)
  • -$349Applicable income taxes
  • $439Income before extraordinary items
  • $0Extraordinary gains - net
  • $439Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $47Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2000)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 8.20%Yield on earning assets
  • 3.70%Cost of funding earning assets
  • 4.50%Net interest margin
  • 1.01%Noninterest income to earning assets
  • 5.03%Noninterest expense to earning assets
  • 0.65%Net operating income to assets
  • 0.65%Return on assets (ROA)
  • 0.13%Pretax return on assets
  • 3.21%Return on equity (ROE)
  • 3.21%Retained earnings to average equity (YTD only)
  • 0.10%Net charge-offs to loans
  • 423.40%Credit loss provision to net charge-offs
  • 6.15%Efficiency ratio
  • 87,886Assets per employee
  • 1.94%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.37%Loss allowance to noncurrent loans
  • 225.95%Noncurrent assets plus other real estate owned to assets
  • 0.49%Noncurrent loans to loans
  • 0.61%Net loans and leases to deposits
  • 90.16%Net loans and leases to core deposits
  • 113.06%Equity capital to assets
  • 18.75%Core capital (leverage) ratio
  • 17.57%Tier 1 risk-based capital ratio
  • 24.28%Total risk-based capital ratio
  • Memoranda
  • $26Average assets
  • $67,937Average earning assets
  • $13,667Average equity
  • $60,586Average loans

Comment about this bank, ask questions, or add new information about it:

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with First Western Bank.
Based on public records. Inadvertent errors are possible. does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents