Highlands Community Bank in Covington, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Highlands Community Bank in Covington, Virginia (VA)
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Highlands Community Bank - Overview

  • General
  • FDIC Certificate #: 57420
    Status: Active
    Federal Reserve ID: 3125315
    Date Established: September 16, 2002
    WWW: http://www.highlandscommunitybank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 363478
    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: All Other Specialization < 1 Billion
    Date of Deposit Insurance: September 16, 2002
    Last Structure Change Effective Date: April 27, 2006
    Last Structure Change Process Date: April 27, 2006
    Last Data Update: April 27, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 309 Thacker Avenue, Covington, VA 24426
    County: Alleghany
    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
  • Financial Summary
  • Total assets: $114.3 mil
    Equity capital: $12.3 mil
    Deposits held in domestic offices: $101.2 mil
    Return on assets (ROA): 0.85% ($1.0 mil)
    Quarterly return on assets: 1.67% ($1.9 mil)
    Return on Equity (ROE): 8.46% ($1.0 mil)
    Quarterly return on equity: 15.76% ($1.9 mil)
    Net income: $0.9 mil
    Quarterly Net income: $0.5 mil
    Pretax return on assets: 0.86% ($983.2 mil)
    Quarterly Pretax return on assets: 1.77% ($2,023.6 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
  • 19Total employees (full-time equivalent)
  • $114,330Total assets
  • $6,968Cash and due from depository institutions
  • $2,156Interest-bearing balances
  • $44,230Securities
  • $3,350Federal funds sold & reverse repurchase agreements
  • $56,688Net loans & leases
  • $1,178Loan loss allowance
  • $0Trading account assets
  • $1,352Bank premises and fixed assets
  • $586Other real estate owned
  • $0Goodwill and other intangibles
  • $114,330Life insurance assets
  • $1,156All other assets
  • $102,040Total liabilities and capital
  • $101,153Total liabilities
  • $92,909Total deposits
  • $101,153Interest-bearing deposits
  • $96Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $887Subordinated debt
  • $12,290All other liabilities
  • $12,290Total equity capital
  • $12,290Total bank equity capital
  • $0Perpetual preferred stock
  • $3,701Common stock
  • $3,758Surplus
  • $4,831Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $868Income earned, not collected on loans
  • $0Earning assets
  • $619Long-term assets (5+ years)
  • $106,424Average Assets, year-to-date
  • $43,775Average Assets, quarterly
  • $109,699Volatile liabilities
  • $113,498Insider loans
  • $66,838FHLB advances
  • $112,618Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $10,590Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $6,219Restructured Loans and leases
  • $1,414Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,523Total interest income
  • $2,041Total interest expense
  • $3,482Net interest income
  • $834Provision for loan and lease losses
  • $417Total noninterest income
  • $0Fiduciary activities
  • $248Service charges on deposit accounts
  • $0Trading account gains & fees
  • $169Additional noninterest income
  • $2,415Total noninterest expense
  • $1,107Salaries and employee benefits
  • $175Premises and equipment expense
  • $1,133Additional noninterest expense
  • $650Pre-tax net operating income
  • $288Securities gains (losses)
  • $2Applicable income taxes
  • $936Income before extraordinary items
  • $0Extraordinary gains - net
  • $936Net income attributable to bank
  • $0Net charge-offs
  • $936Cash dividends
  • $258Sale, conversion, retirement of capital stock, net
  • $118Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.38%Yield on earning assets
  • 1.99%Cost of funding earning assets
  • 3.39%Net interest margin
  • 0.41%Noninterest income to earning assets
  • 2.35%Noninterest expense to earning assets
  • 0.59%Net operating income to assets
  • 0.85%Return on assets (ROA)
  • 0.86%Pretax return on assets
  • 8.46%Return on equity (ROE)
  • 7.40%Retained earnings to average equity (YTD only)
  • 0.45%Net charge-offs to loans
  • 323.26%Credit loss provision to net charge-offs
  • 5.75%Efficiency ratio
  • 61,939Assets per employee
  • 6.02%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 12.61%Loss allowance to loans
  • 2.04%Loss allowance to noncurrent loans
  • 135.71%Noncurrent assets plus other real estate owned to assets
  • 1.27%Noncurrent loans to loans
  • 1.50%Net loans and leases to deposits
  • 56.04%Net loans and leases to core deposits
  • 60.25%Equity capital to assets
  • 10.75%Core capital (leverage) ratio
  • 9.40%Tier 1 risk-based capital ratio
  • 15.84%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $109,699Average earning assets
  • $11,059Average equity
  • $102,733Average loans

List of branches

  • 2 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0363478Highlands Community Bank309 Thacker Avenue, Covington, VA 24426September 16, 2002Full Service Brick and Mortar
    1442006Highlands Community Bank Branch1501 Main St, Clifton Forge, VA 24422October 06, 2004Full Service Brick and Mortar

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