Grayson National Bank in Independence, Virginia (VA), NC
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Grayson National Bank in Independence, Virginia (VA), NC
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Grayson National Bank - Overview

  • General
  • FDIC Certificate #: 6861
    Status: Active
    Federal Reserve ID: 90328
    Bank Holding Company (Regulatory Top Holder): Grayson Bankshares, Inc. (RSSDID: 1974470, Location: Independence, VA)
    Date Established: October 06, 1900
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 10 (Domestic: 10, Interstate: Yes)
    FDIC's unique #: 4611
    Numeric code: 3
    Regulator: OCC
    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: No
    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 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 113 West Main Street, Independence, VA 24348
    County: Grayson
    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
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $345.8 mil
    Equity capital: $27.7 mil
    Deposits held in domestic offices: $297.3 mil
    Return on assets (ROA): -0.42% (-$1.5 mil)
    Quarterly return on assets: -0.17% (-$0.6 mil)
    Return on Equity (ROE): -5.16% (-$1.4 mil)
    Quarterly return on equity: -2.04% (-$0.6 mil)
    Net income: -$1.5 mil
    Quarterly Net income: -$0.1 mil
    Pretax return on assets: -0.74% (-$2,558.9 mil)
    Quarterly Pretax return on assets: -0.26% (-$899.1 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
  • 121Total employees (full-time equivalent)
  • $345,802Total assets
  • $11,174Cash and due from depository institutions
  • $3,316Interest-bearing balances
  • $49,507Securities
  • $39,013Federal funds sold & reverse repurchase agreements
  • $214,226Net loans & leases
  • $4,942Loan loss allowance
  • $0Trading account assets
  • $11,182Bank premises and fixed assets
  • $3,352Other real estate owned
  • $0Goodwill and other intangibles
  • $345,802Life insurance assets
  • $17,348All other assets
  • $318,064Total liabilities and capital
  • $297,272Total liabilities
  • $247,072Total deposits
  • $297,272Interest-bearing deposits
  • $98Deposits held in domestic offices
  • 10000.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $10,000Trading liabilities
  • $0Other borrowed funds
  • $792Subordinated debt
  • $27,738All other liabilities
  • $27,738Total equity capital
  • $27,738Total bank equity capital
  • $0Perpetual preferred stock
  • $537Common stock
  • $1,822Surplus
  • $25,379Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $23,143Income earned, not collected on loans
  • $0Earning assets
  • $1,515Long-term assets (5+ years)
  • $306,062Average Assets, year-to-date
  • $97,165Average Assets, quarterly
  • $358,585Volatile liabilities
  • $350,616Insider loans
  • $225,213FHLB advances
  • $350,125Loans and leases held for sale
  • $8,772Unused loan commitments
  • $8,772Tier 1 (core) risk-based capital
  • $28,938Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $15,557Restructured Loans and leases
  • $1,724Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $15,388Total interest income
  • $4,867Total interest expense
  • $10,521Net interest income
  • $4,785Provision for loan and lease losses
  • $1,863Total noninterest income
  • $0Fiduciary activities
  • $1,116Service charges on deposit accounts
  • $0Trading account gains & fees
  • $747Additional noninterest income
  • $10,841Total noninterest expense
  • $6,262Salaries and employee benefits
  • $1,122Premises and equipment expense
  • $3,457Additional noninterest expense
  • -$3,242Pre-tax net operating income
  • $604Securities gains (losses)
  • -$1,139Applicable income taxes
  • -$1,499Income before extraordinary items
  • $0Extraordinary gains - net
  • -$1,499Net income attributable to bank
  • $0Net charge-offs
  • -$1,499Cash dividends
  • $4,385Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.85%Yield on earning assets
  • 1.53%Cost of funding earning assets
  • 3.32%Net interest margin
  • 0.59%Noninterest income to earning assets
  • 3.42%Noninterest expense to earning assets
  • -0.53%Net operating income to assets
  • -0.42%Return on assets (ROA)
  • -0.74%Pretax return on assets
  • -5.16%Return on equity (ROE)
  • -5.16%Retained earnings to average equity (YTD only)
  • 1.86%Net charge-offs to loans
  • 109.12%Credit loss provision to net charge-offs
  • 0.35%Efficiency ratio
  • 87,540Assets per employee
  • 2.86%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.25%Loss allowance to noncurrent loans
  • 21.35%Noncurrent assets plus other real estate owned to assets
  • 7.66%Noncurrent loans to loans
  • 10.56%Net loans and leases to deposits
  • 72.06%Net loans and leases to core deposits
  • 74.55%Equity capital to assets
  • 8.02%Core capital (leverage) ratio
  • 8.27%Tier 1 risk-based capital ratio
  • 12.85%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $358,585Average earning assets
  • $29,040Average equity
  • $317,176Average loans

List of branches

  • 1 North Carolina Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    5361344Sparta Branch98 S Grayson St, Sparta, NC 28675October 03, 2000Full Service Brick and Mortar
  • 9 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    04611Grayson National Bank113 West Main Street, Independence, VA 24348October 06, 1900Full Service Brick and Mortar
    1212405Elk Creek BranchRfd #1, Elk Creek, VA 24326September 01, 1967Full Service Brick and Mortar
    2212406East Independence Branch802 East Main Street, Independence, VA 24348September 17, 1971Full Service Brick and Mortar
    3212407Trout Dale BranchState Route 16, Trout Dale, VA 24378December 01, 1972Full Service Brick and Mortar
    4212408Galax Branch209 West Grayson Street, Galax, VA 24333May 14, 1996Full Service Brick and Mortar
    6429986Carroll Branch8351 Carrollton Pike, Galax, VA 24333August 28, 2003Full Service Brick and Mortar
    7433863Hillsville Office419 South Main Street, Hillsville, VA 24343December 17, 2004Full Service Brick and Mortar
    8458314Whitetop Office Branch16305 Highlands Parkway, Whitetop, VA 24292November 17, 2006Full Service Brick and Mortar
    9510895Wytheville Branch150 West Main Street, Wytheville, VA 24382July 10, 2009Full Service Brick and Mortar

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