Highlands Union Bank in Abingdon, Virginia (VA), TN, NC



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Highlands Union Bank
GeneralFDIC Certificate #: 26191
Status: Active
Federal Reserve ID: 969424
Bank Holding Company (Regulatory Top Holder): Highlands Bankshares, Inc. (RSSDID: 2391270, Location: Abingdon, VA)
Date Established: April 27, 1985
WWW: http://www.hubank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 14 (Domestic: 14, Interstate: Yes)
OTS Docket #: 12009
FDIC's unique #: 32516
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: April 27, 1985
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
LocationAddress: 340 West Main Street, Abingdon, VA 24210
County: Washington
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): Johnson City-Kingsport-Bristol, TN-VA (#3660)
Combined Statistical Area (CSA): Johnson City-Kingsport-Bristol (Tri-Cities), TN-VA (#304)
Core Based Statistical Area (CBSA): Kingsport-Bristol-Bristol, TN-VA (#28700)
CBSA Metro Statistical Area: Kingsport-Bristol-Bristol, TN-VA (#28700)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $620.6 mil
Equity capital: $34.4 mil
Deposits held in domestic offices: $516.2 mil
Return on assets (ROA): -0.93% (-$5.8 mil)
Quarterly return on assets: -2.77% (-$17.2 mil)
Return on Equity (ROE): -15.93% (-$5.4 mil)
Quarterly return on equity: -47.59% (-$16.2 mil)
Net income: -$5.9 mil
Quarterly Net income: -$4.3 mil
Pretax return on assets: -0.56% (-$3,475.4 mil)
Quarterly Pretax return on assets: -0.29% (-$1,799.8 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)
Total employees (full-time equivalent)208
Total assets$620,609
Cash and due from depository institutions$86,463
Interest-bearing balances$80,600
Securities$64,252
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$398,781
Loan loss allowance $9,024
Trading account assets$0
Bank premises and fixed assets$21,883
Other real estate owned$16,724
Goodwill and other intangibles$74
All other assets$32,432
Life insurance assets$620,609
Total liabilities and capital$586,161
Total liabilities$516,183
Total deposits$416,502
Interest-bearing deposits$516,183
Deposits held in domestic offices$95
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$67,997
Other borrowed funds $0
Subordinated debt $1,981
All other liabilities $34,448
Total equity capital$34,448
Total bank equity capital$34,448
Perpetual preferred stock$0
Common stock$4,645
Surplus$10,241
Undivided profits $19,562
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $20,796
Earning assets $0
Long-term assets (5+ years) $2,003
Average Assets, year-to-date $543,633
Average Assets, quarterly $156,603
Volatile liabilities $637,724
Insider loans $627,712
FHLB advances $402,615
Loans and leases held for sale $620,422
Unused loan commitments $13,230
Tier 1 (core) risk-based capital $9,063
Tier 2 risk-based capital $31,461
Total risk weighted assets $2,710
Total unused commitments $1,457
Restructured Loans and leases $42,639
Derivatives$11,468
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $27,154
Total interest expense $9,401
Net interest income $17,753
Provision for loan and lease losses $4,648
Total noninterest income $2,929
Fiduciary activities $0
Service charges on deposit accounts $2,132
Trading account gains & fees $0
Additional noninterest income $797
Total noninterest expense $19,578
Salaries and employee benefits $9,780
Premises and equipment expense $2,001
Additional noninterest expense $7,797
Pre-tax net operating income -$3,544
Securities gains (losses) -$18
Applicable income taxes $2,362
Income before extraordinary items -$5,924
Extraordinary gains - net $0
Net income attributable to bank -$5,924
Net charge-offs $0
Cash dividends -$5,924
Sale, conversion, retirement of capital stock, net $5,944
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.90%
Cost of funding earning assets 1.70%
Net interest margin 3.20%
Noninterest income to earning assets 0.53%
Noninterest expense to earning assets 3.53%
Net operating income to assets -0.93%
Return on assets (ROA) -0.93%
Pretax return on assets -0.56%
Return on equity (ROE) -15.93%
Retained earnings to average equity (YTD only) -15.93%
Net charge-offs to loans 1.39%
Credit loss provision to net charge-offs 78.20%
Efficiency ratio0.19%
Assets per employee$94,565
Cash dividends to net income (YTD only)2.98%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.21%
Noncurrent assets plus other real estate owned to assets 43.39%
Noncurrent loans to loans 6.07%
Net loans and leases to deposits5.10%
Net loans and leases to core deposits 77.26%
Equity capital to assets 79.36%
Core capital (leverage) ratio 5.55%
Tier 1 risk-based capital ratio 5.07%
Total risk-based capital ratio 7.81%
Memoranda
Average assets$9
Average earning assets$637,724
Average equity $37,176
Average loans $554,576
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2 North Carolina Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
8361507Boone Branch1013 Highway 105, Boone, NC 28607January 16, 2001Full Service Brick and Mortar
11429579Banner Elk Branch115 Main Street East, Banner Elk, NC 28604Febuary 07, 2004Full Service Brick and Mortar
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5 Tennessee Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
9222173Rogersville Branch4020 Highway 665, Rogersville, TN 37857Febuary 17, 1987Full Service Brick and Mortar
10429578Blountville Branch2217 Hwy 394, Blountville, TN 37617August 30, 2003Full Service Brick and Mortar
12465256Sevierville Branch113 Hardin Lane, Sevierville, TN 37862September 01, 2006Full Service Brick and Mortar
13468637Mountain Grove Branch7570 Mountain Grove Drive, Knoxville, TN 37920October 22, 2007Full Service Brick and Mortar
14492944Sevierville Branch #2 Branch1824 Veteran's Blvd, Sevierville, TN 37862November 17, 2008Full Service Brick and Mortar
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7 Virginia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
032516Highlands Union Bank340 West Main Street, Abingdon, VA 24210April 27, 1985Full Service Brick and Mortar
2258505Bristol Branch999 Old Airport Road, Bristol, VA 24201September 10, 1988Full Service Brick and Mortar
3258506Maringo Drive Branch24412 Maringo Drive, Abingdon, VA 24210December 04, 1993Full Service Brick and Mortar
4258507Jonesborough Road Branch164 Jonesborough Road, Abingdon, VA 24210December 21, 1994Full Service Brick and Mortar
5258508Bristol Branch821 Commonwealth Avenue, Bristol, VA 24201December 16, 1995Full Service Brick and Mortar
6258509Marion Branch1425 North Main Street, Marion, VA 24354December 06, 1997Full Service Brick and Mortar
7258510Glade Spring Branch506 Maple Street, Glade Spring, VA 24340December 19, 1998Full Service Brick and Mortar
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