Hanover Bank in Mechanicsville, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 16, 1999

  • Hanover Bank in Mechanicsville, Virginia (VA)
  • Show street view No street view available for this location

Hanover Bank - Overview

  • General
  • FDIC Certificate #: 27215
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Branch Banking and Trust Company of Virginia (#22584)
    Federal Reserve ID: 1186947
    Date Established: April 04, 1988
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 16 (Interstate: No)
    OTS Docket #: 14446
    FDIC's unique #: 39147
    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 04, 1988
    Last Structure Change Effective Date: July 16, 1999
    Last Structure Change Process Date: August 11, 1999
    Last Data Update: August 11, 1999
    Data Source Date: April 05, 2012
  • Location
  • Address: 6645-A Mechanicsville Turnpike, Mechanicsville, VA 23111
    County: Hanover
    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): Richmond-Petersburg, VA (#6760)
    Core Based Statistical Area (CBSA): Richmond, VA (#40060)
    CBSA Metro Statistical Area: Richmond, VA (#40060)
  • Financial Summary
  • Total assets: $351.5 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
  • 93Total employees (full-time equivalent)
  • $374,836Total assets
  • $12,609Cash and due from depository institutions
  • $1,244Interest-bearing balances
  • $112,078Securities
  • $28,675Federal funds sold & reverse repurchase agreements
  • $208,175Net loans & leases
  • $3,383Loan loss allowance
  • $0Trading account assets
  • $6,440Bank premises and fixed assets
  • $200Other real estate owned
  • $200Goodwill and other intangibles
  • $0Life insurance assets
  • $6,459All other assets
  • $374,836Total liabilities and capital
  • $346,144Total liabilities
  • $270,497Total deposits
  • $220,446Interest-bearing deposits
  • $270,497Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $52,411Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $21,164Other borrowed funds
  • $0Subordinated debt
  • $2,072All other liabilities
  • $28,692Total equity capital
  • $28,692Total bank equity capital
  • $28,692Perpetual preferred stock
  • $0Common stock
  • $6,103Surplus
  • $13,111Undivided profits
  • Memoranda
  • $9,478Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $1,973Earning assets
  • $0Long-term assets (5+ years)
  • $1,331Average Assets, year-to-date
  • $350,172Average Assets, quarterly
  • $81,703Volatile liabilities
  • $382,025Insider loans
  • $378,556FHLB advances
  • $89,863Loans and leases held for sale
  • $3,804Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $59,887Total unused commitments
  • $0Restructured Loans and leases
  • $238,513Derivatives

Income and Expense (December 31, 1998)

  • Dollar figures in thousands
  • $29,019Total interest income
  • $14,377Total interest expense
  • $14,642Net interest income
  • $2,389Provision for loan and lease losses
  • $2,370Total noninterest income
  • $0Fiduciary activities
  • $1,161Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,209Additional noninterest income
  • $12,063Total noninterest expense
  • $4,096Salaries and employee benefits
  • $1,365Premises and equipment expense
  • $6,602Additional noninterest expense
  • $2,560Pre-tax net operating income
  • $6Securities gains (losses)
  • $746Applicable income taxes
  • $1,820Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,820Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $1,864Sale, conversion, retirement of capital stock, net
  • $1,490Net operating income

Performance and Condition Ratios (December 31, 1998)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 8.19%Yield on earning assets
  • 4.06%Cost of funding earning assets
  • 4.13%Net interest margin
  • 0.67%Noninterest income to earning assets
  • 3.40%Noninterest expense to earning assets
  • 0.48%Net operating income to assets
  • 0.48%Return on assets (ROA)
  • 0.67%Pretax return on assets
  • 6.33%Return on equity (ROE)
  • 1.15%Retained earnings to average equity (YTD only)
  • 0.83%Net charge-offs to loans
  • 128.17%Credit loss provision to net charge-offs
  • 2.66%Efficiency ratio
  • 70,627Assets per employee
  • 4.03%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 81.87%Loss allowance to loans
  • 1.60%Loss allowance to noncurrent loans
  • 171.46%Noncurrent assets plus other real estate owned to assets
  • 0.58%Noncurrent loans to loans
  • 0.93%Net loans and leases to deposits
  • 76.96%Net loans and leases to core deposits
  • 88.88%Equity capital to assets
  • 7.65%Core capital (leverage) ratio
  • 7.51%Tier 1 risk-based capital ratio
  • 11.76%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $382,025Average earning assets
  • $28,762Average equity
  • $354,383Average 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 Hanover Bank.
Based on public records. Inadvertent errors are possible.
bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents