Home Federal Savings Bank in Norfolk, Virginia (VA)



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Home Federal Savings Bank
GeneralFDIC Certificate #: 33631
Status: Inactive
Closing history: Conservatorship Institution Resolved
Acquiring institution: Home Savings Bank, F.S.B. (#33943)
Federal Reserve ID: 663179
Date Established: July 10, 1992
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
OTS Docket #: 10099
FDIC's unique #: 47695
Numeric code: 34
Regulator: OTS
Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
FDIC Insured: Yes
SAIF Insured: Yes
Insured Savings Institution: Yes
State Chartered: No
Date of Deposit Insurance: July 10, 1992
Last Structure Change Effective Date: October 01, 1994
Last Structure Change Process Date: October 12, 1994
Last Data Update: March 28, 2000
Data Source Date: April 05, 2012
LocationAddress: 700 Boush Street, Norfolk, VA 23510
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 ChangesPass Through Receivership Merger
Corrections
Conservatorship Institution Resolved
Financial SummaryTotal assets: $67.6 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$42
Cash and due from depository institutions$82,354
Interest-bearing balances$11,868
Securities$11,550
Federal funds sold & reverse repurchase agreements$6,934
Net loans & leases$0
Loan loss allowance $46,413
Trading account assets$7,894
Bank premises and fixed assets$0
Other real estate owned$1,632
Goodwill and other intangibles$2,924
All other assets$0
Life insurance assets$12,583
Total liabilities and capital$0
Total liabilities$82,354
Total deposits$120,825
Interest-bearing deposits$71,587
Deposits held in domestic offices$71,587
% insured (estimated)71587.00%
Federal funds purchased & repurchase agreements $100
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $46,000
All other liabilities $0
Total equity capital$3,238
Total bank equity capital$3,238
Perpetual preferred stock$-38,471
Common stock$0
Surplus$0
Undivided profits $0
Memoranda
Noncurrent loans and leases $-38,471
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $16,756
Earning assets $566
Long-term assets (5+ years) $64,897
Average Assets, year-to-date $0
Average Assets, quarterly $114,775
Volatile liabilities $85,992
Insider loans $47,454
FHLB advances $0
Loans and leases held for sale $0
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $-39,651
Total unused commitments $52,886
Restructured Loans and leases $0
Derivatives$0
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Income and Expense (December 31, 1993)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $6,780
Net interest income $5,749
Provision for loan and lease losses $1,031
Total noninterest income $16,466
Fiduciary activities $54
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $0
Total noninterest expense $54
Salaries and employee benefits $10,725
Premises and equipment expense $1,205
Additional noninterest expense $547
Pre-tax net operating income $8,973
Securities gains (losses) -$26,106
Applicable income taxes $637
Income before extraordinary items $0
Extraordinary gains - net -$25,469
Net income attributable to bank $0
Net charge-offs -$25,469
Cash dividends $14,343
Sale, conversion, retirement of capital stock, net $0
Net operating income $0
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Performance and Condition Ratios (December 31, 1993)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 7.06%
Net interest margin 5.98%
Noninterest income to earning assets 1.07%
Noninterest expense to earning assets 0.06%
Net operating income to assets 11.16%
Return on assets (ROA) -22.75%
Pretax return on assets -22.19%
Return on equity (ROE) -22.19%
Retained earnings to average equity (YTD only) 101.58%
Net charge-offs to loans 101.58%
Credit loss provision to net charge-offs 16.24%
Efficiency ratio114.80%
Assets per employee$988,479
Cash dividends to net income (YTD only)1.96%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 14.54%
Noncurrent assets plus other real estate owned to assets 47.11%
Noncurrent loans to loans 23.90%
Net loans and leases to deposits30.85%
Net loans and leases to core deposits 64.83%
Equity capital to assets 66.18%
Core capital (leverage) ratio -46.71%
Tier 1 risk-based capital ratio -49.06%
Total risk-based capital ratio -74.97%
Memoranda
Average assets-$75
Average earning assets$114,775
Average equity -$25,072
Average loans $96,094
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