First and Citizens Bank in Monterey, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches


First and Citizens Bank - Overview

  • General
  • FDIC Certificate #: 13011
    Status: Active
    Federal Reserve ID: 762625
    Bank Holding Company (Regulatory Top Holder): Highland County Bankshares, Inc. (RSSDID: 2496241, Location: Monterey, VA)
    Date Established: September 01, 1929
    WWW: http://www.firstandcitizensbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    FDIC's unique #: 8219
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: All Other Specialization < 1 Billion
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: March 23, 2007
    Last Structure Change Process Date: March 28, 2007
    Last Data Update: March 28, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 195 West Main Strret, Monterey, VA 24465
    County: Highland
    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
  • History of Changes
  • Change in Location
  • Financial Summary
  • Total assets: $115.9 mil
    Equity capital: $12.5 mil
    Deposits held in domestic offices: $102.7 mil
    Return on assets (ROA): 0.43% ($0.5 mil)
    Quarterly return on assets: 0.38% ($0.4 mil)
    Return on Equity (ROE): 4.07% ($0.5 mil)
    Quarterly return on equity: 3.55% ($0.5 mil)
    Net income: $0.5 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: 0.61% ($706.9 mil)
    Quarterly Pretax return on assets: 0.51% ($591.0 mil)

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

2000 - 2011 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, 2011)

  • Dollar figures in thousands
  • 27Total employees (full-time equivalent)
  • $115,881Total assets
  • $33,193Cash and due from depository institutions
  • $31,225Interest-bearing balances
  • $7,376Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $71,266Net loans & leases
  • $917Loan loss allowance
  • $0Trading account assets
  • $2,475Bank premises and fixed assets
  • $188Other real estate owned
  • $0Goodwill and other intangibles
  • $115,881Life insurance assets
  • $1,383All other assets
  • $103,342Total liabilities and capital
  • $102,665Total liabilities
  • $91,505Total deposits
  • $102,665Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 200.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $477Subordinated debt
  • $12,539All other liabilities
  • $12,539Total equity capital
  • $12,539Total bank equity capital
  • $0Perpetual preferred stock
  • $600Common stock
  • $2,484Surplus
  • $9,455Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,227Income earned, not collected on loans
  • $0Earning assets
  • $470Long-term assets (5+ years)
  • $109,867Average Assets, year-to-date
  • $6,743Average Assets, quarterly
  • $115,850Volatile liabilities
  • $115,916Insider loans
  • $56,178FHLB advances
  • $115,135Loans and leases held for sale
  • $255Unused loan commitments
  • $255Tier 1 (core) risk-based capital
  • $12,258Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $4,210Restructured Loans and leases
  • $1,183Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,360Total interest income
  • $1,463Total interest expense
  • $3,897Net interest income
  • $358Provision for loan and lease losses
  • $304Total noninterest income
  • $0Fiduciary activities
  • $123Service charges on deposit accounts
  • $0Trading account gains & fees
  • $181Additional noninterest income
  • $3,141Total noninterest expense
  • $1,524Salaries and employee benefits
  • $507Premises and equipment expense
  • $1,110Additional noninterest expense
  • $702Pre-tax net operating income
  • $0Securities gains (losses)
  • $203Applicable income taxes
  • $499Income before extraordinary items
  • $0Extraordinary gains - net
  • $499Net income attributable to bank
  • $0Net charge-offs
  • $499Cash dividends
  • $324Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.89%Yield on earning assets
  • 1.33%Cost of funding earning assets
  • 3.56%Net interest margin
  • 0.28%Noninterest income to earning assets
  • 2.87%Noninterest expense to earning assets
  • 0.43%Net operating income to assets
  • 0.43%Return on assets (ROA)
  • 0.61%Pretax return on assets
  • 4.07%Return on equity (ROE)
  • 4.07%Retained earnings to average equity (YTD only)
  • 0.44%Net charge-offs to loans
  • 110.49%Credit loss provision to net charge-offs
  • 3.27%Efficiency ratio
  • 74,768Assets per employee
  • 4.29%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.27%Loss allowance to noncurrent loans
  • 74.74%Noncurrent assets plus other real estate owned to assets
  • 1.22%Noncurrent loans to loans
  • 1.70%Net loans and leases to deposits
  • 69.42%Net loans and leases to core deposits
  • 70.91%Equity capital to assets
  • 10.82%Core capital (leverage) ratio
  • 10.65%Tier 1 risk-based capital ratio
  • 21.82%Total risk-based capital ratio
  • Memoranda
  • $23Average assets
  • $115,850Average earning assets
  • $12,262Average equity
  • $109,593Average loans

List of branches

  • 3 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    08219First And Citizens Bank195 West Main Strret, Monterey, VA 24465September 01, 1929Full Service Brick and Mortar
    1429547Hot Springs Branch9406 Sam Snead Highway, Hot Springs, VA 24445January 20, 2004Full Service Brick and Mortar
    2497950Riverside Plaza Shopping Center Bran23 Scenic Highway, Churchville, VA 24421October 26, 2009Full Service Brick and Mortar

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