Heritage Bank in Norfolk, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

Heritage Bank - Overview

  • General
  • FDIC Certificate #: 22411
    Status: Active
    Federal Reserve ID: 911825
    Bank Holding Company (Regulatory Top Holder): Heritage Bankshares, Inc. (RSSDID: 1076178, Location: Norfolk, VA)
    Date Established: Febuary 07, 1977
    WWW: http://www.heritagebankva.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 7 (Domestic: 7, Interstate: No)
    OTS Docket #: 11487
    FDIC's unique #: 15612
    Numeric code: 13
    Regulator: FED
    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: Commercial Lending Specialization
    Date of Deposit Insurance: Febuary 07, 1977
    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: 841 North Military Highway, Norfolk, VA 23514
    County: Norfolk 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): Norfolk-Virginia Beach-Newport News, VA-NC (#5720)
    Core Based Statistical Area (CBSA): Virginia Beach-Norfolk-Newport News, VA-NC (#47260)
    CBSA Metro Statistical Area: Virginia Beach-Norfolk-Newport News, VA-NC (#47260)
  • History of Changes
  • Name Change
    Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $293.5 mil
    Equity capital: $34.7 mil
    Deposits held in domestic offices: $250.6 mil
    Return on assets (ROA): 0.90% ($2.6 mil)
    Quarterly return on assets: 0.95% ($2.8 mil)
    Return on Equity (ROE): 7.32% ($2.6 mil)
    Quarterly return on equity: 8.07% ($2.8 mil)
    Net income: $2.5 mil
    Quarterly Net income: $0.7 mil
    Pretax return on assets: 1.33% ($3,904.0 mil)
    Quarterly Pretax return on assets: 1.33% ($3,904.0 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
  • 54Total employees (full-time equivalent)
  • $293,537Total assets
  • $12,962Cash and due from depository institutions
  • $7,628Interest-bearing balances
  • $45,310Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $213,183Net loans & leases
  • $2,091Loan loss allowance
  • $0Trading account assets
  • $11,029Bank premises and fixed assets
  • $1,719Other real estate owned
  • $0Goodwill and other intangibles
  • $293,537Life insurance assets
  • $9,334All other assets
  • $258,800Total liabilities and capital
  • $250,587Total liabilities
  • $157,140Total deposits
  • $250,587Interest-bearing deposits
  • $84Deposits held in domestic offices
  • 1504.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $4,781Trading liabilities
  • $0Other borrowed funds
  • $1,928Subordinated debt
  • $34,737All other liabilities
  • $34,737Total equity capital
  • $34,737Total bank equity capital
  • $0Perpetual preferred stock
  • $1,928Common stock
  • $17,867Surplus
  • $14,942Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $0Earning assets
  • $694Long-term assets (5+ years)
  • $266,121Average Assets, year-to-date
  • $111,340Average Assets, quarterly
  • $280,458Volatile liabilities
  • $295,509Insider loans
  • $238,253FHLB advances
  • $305,195Loans and leases held for sale
  • $5,616Unused loan commitments
  • $5,616Tier 1 (core) risk-based capital
  • $34,295Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $33,781Restructured Loans and leases
  • $16,273Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $12,327Total interest income
  • $1,263Total interest expense
  • $11,064Net interest income
  • -$15Provision for loan and lease losses
  • $665Total noninterest income
  • $0Fiduciary activities
  • $334Service charges on deposit accounts
  • $0Trading account gains & fees
  • $331Additional noninterest income
  • $8,095Total noninterest expense
  • $4,232Salaries and employee benefits
  • $1,430Premises and equipment expense
  • $2,433Additional noninterest expense
  • $3,649Pre-tax net operating income
  • $87Securities gains (losses)
  • $1,212Applicable income taxes
  • $2,524Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,524Net income attributable to bank
  • $0Net charge-offs
  • $2,524Cash dividends
  • -$16Sale, conversion, retirement of capital stock, net
  • $2,200Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.77%Yield on earning assets
  • 0.49%Cost of funding earning assets
  • 4.29%Net interest margin
  • 0.26%Noninterest income to earning assets
  • 3.14%Noninterest expense to earning assets
  • 0.88%Net operating income to assets
  • 0.90%Return on assets (ROA)
  • 1.33%Pretax return on assets
  • 7.32%Return on equity (ROE)
  • 0.94%Retained earnings to average equity (YTD only)
  • -0.01%Net charge-offs to loans
  • 93.75%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 69,017Assets per employee
  • 5.44%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 87.16%Loss allowance to loans
  • 0.97%Loss allowance to noncurrent loans
  • 0.00%Noncurrent assets plus other real estate owned to assets
  • 0.59%Noncurrent loans to loans
  • 0.00%Net loans and leases to deposits
  • 85.07%Net loans and leases to core deposits
  • 85.07%Equity capital to assets
  • 11.83%Core capital (leverage) ratio
  • 11.24%Tier 1 risk-based capital ratio
  • 14.39%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $280,458Average earning assets
  • $34,501Average equity
  • $258,189Average loans

List of branches

  • 7 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    015612Heritage Bank841 North Military Highway, Norfolk, VA 23514Febuary 07, 1977Full Service Brick and Mortar
    1254541Downtown Branch150 Granby Street, Suite 175, Norfolk, VA 23510November 20, 1979Full Service Brick and Mortar
    3254543Colley Avenue Branch4815 Colley Avenue, Norfolk, VA 23508December 05, 1997Full Service Brick and Mortar
    4254544Ocean View Branch735 East Ocean View Avenue, Norfolk, VA 23503April 13, 1999Full Service Brick and Mortar
    6480606Lynnhaven Branch601 Lynnhaven Parkway, Virginia Beach, VA 23452Febuary 25, 2008Full Service Brick and Mortar
    7493123Hilltop Branch1756 Laskin Rd, Virginia Beach, VA 23454January 26, 2009Full Service Brick and Mortar
    8525928Greenbrier Banking Center Branch1403 Greenbrier Pkwy, Suite 110, Chesapeake, VA 23320September 19, 2011Full Service Brick and Mortar

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