Highlands Union Bank in Abingdon, Virginia (VA), TN, NC
Overview, Financial Summary, Detailed Financial Reports, Branches


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

  • General
  • FDIC 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
  • Location
  • Address: 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 Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total 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
  • 208Total employees (full-time equivalent)
  • $620,609Total assets
  • $86,463Cash and due from depository institutions
  • $80,600Interest-bearing balances
  • $64,252Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $398,781Net loans & leases
  • $9,024Loan loss allowance
  • $0Trading account assets
  • $21,883Bank premises and fixed assets
  • $16,724Other real estate owned
  • $74Goodwill and other intangibles
  • $620,609Life insurance assets
  • $32,432All other assets
  • $586,161Total liabilities and capital
  • $516,183Total liabilities
  • $416,502Total deposits
  • $516,183Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $67,997Trading liabilities
  • $0Other borrowed funds
  • $1,981Subordinated debt
  • $34,448All other liabilities
  • $34,448Total equity capital
  • $34,448Total bank equity capital
  • $0Perpetual preferred stock
  • $4,645Common stock
  • $10,241Surplus
  • $19,562Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $20,796Income earned, not collected on loans
  • $0Earning assets
  • $2,003Long-term assets (5+ years)
  • $543,633Average Assets, year-to-date
  • $156,603Average Assets, quarterly
  • $637,724Volatile liabilities
  • $627,712Insider loans
  • $402,615FHLB advances
  • $620,422Loans and leases held for sale
  • $13,230Unused loan commitments
  • $9,063Tier 1 (core) risk-based capital
  • $31,461Tier 2 risk-based capital
  • $2,710Total risk weighted assets
  • $1,457Total unused commitments
  • $42,639Restructured Loans and leases
  • $11,468Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $27,154Total interest income
  • $9,401Total interest expense
  • $17,753Net interest income
  • $4,648Provision for loan and lease losses
  • $2,929Total noninterest income
  • $0Fiduciary activities
  • $2,132Service charges on deposit accounts
  • $0Trading account gains & fees
  • $797Additional noninterest income
  • $19,578Total noninterest expense
  • $9,780Salaries and employee benefits
  • $2,001Premises and equipment expense
  • $7,797Additional noninterest expense
  • -$3,544Pre-tax net operating income
  • -$18Securities gains (losses)
  • $2,362Applicable income taxes
  • -$5,924Income before extraordinary items
  • $0Extraordinary gains - net
  • -$5,924Net income attributable to bank
  • $0Net charge-offs
  • -$5,924Cash dividends
  • $5,944Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.90%Yield on earning assets
  • 1.70%Cost of funding earning assets
  • 3.20%Net interest margin
  • 0.53%Noninterest income to earning assets
  • 3.53%Noninterest expense to earning assets
  • -0.93%Net operating income to assets
  • -0.93%Return on assets (ROA)
  • -0.56%Pretax return on assets
  • -15.93%Return on equity (ROE)
  • -15.93%Retained earnings to average equity (YTD only)
  • 1.39%Net charge-offs to loans
  • 78.20%Credit loss provision to net charge-offs
  • 0.19%Efficiency ratio
  • 94,565Assets per employee
  • 2.98%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.21%Loss allowance to noncurrent loans
  • 43.39%Noncurrent assets plus other real estate owned to assets
  • 6.07%Noncurrent loans to loans
  • 5.10%Net loans and leases to deposits
  • 77.26%Net loans and leases to core deposits
  • 79.36%Equity capital to assets
  • 5.55%Core capital (leverage) ratio
  • 5.07%Tier 1 risk-based capital ratio
  • 7.81%Total risk-based capital ratio
  • Memoranda
  • $9Average assets
  • $637,724Average earning assets
  • $37,176Average equity
  • $554,576Average loans

List of branches

  • 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
  • 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
  • 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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