FDIC Certificate #: 31623 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:River Community Bank, National Association (#35274) Federal Reserve ID: 439972 Date Established: January 01, 1929 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) OTS Docket #: 7270 FDIC's unique #: 44457 Numeric code: 38 Regulator: OTS Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes State Chartered: No Date of Deposit Insurance: July 11, 1973 Last Structure Change Effective Date: August 20, 2010 Last Structure Change Process Date: August 23, 2010 Last Data Update: August 23, 2010 Data Source Date: April 05, 2012
Location
Address: 1 E Market Street, Martinsville, VA 24112 County: Martinsville 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 Core Based Statistical Area (CBSA): Martinsville, VA (#32300) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $9.4 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2009)
Dollar figures in thousands
6Total employees (full-time equivalent)
$10,070Total assets
$3,126Cash and due from depository institutions
$2,341Interest-bearing balances
$205Securities
$0Federal funds sold & reverse repurchase agreements
$6,277Net loans & leases
$72Loan loss allowance
$0Trading account assets
$241Bank premises and fixed assets
$77Other real estate owned
$2Goodwill and other intangibles
$0Life insurance assets
$142All other assets
$10,070Total liabilities and capital
$10,462Total liabilities
$10,438Total deposits
$9,963Interest-bearing deposits
$10,438Deposits held in domestic offices
97.80%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$24All other liabilities
$-392Total equity capital
$-392Total bank equity capital
$-392Perpetual preferred stock
$0Common stock
$0Surplus
$0Undivided profits
Memoranda
$-392Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$337Earning assets
$0Long-term assets (5+ years)
$67Average Assets, year-to-date
$8,823Average Assets, quarterly
$0Volatile liabilities
$9,780Insider loans
$10,066FHLB advances
$1,355Loans and leases held for sale
$496Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$28Restructured Loans and leases
$64Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$525Total interest income
$155Total interest expense
$370Net interest income
$9Provision for loan and lease losses
$47Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$47Additional noninterest income
$808Total noninterest expense
$354Salaries and employee benefits
$273Premises and equipment expense
$181Additional noninterest expense
-$400Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
-$400Income before extraordinary items
$0Extraordinary gains - net
-$400Net income attributable to bank
$0Net charge-offs
-$400Cash dividends
$17Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.06%Yield on earning assets
1.79%Cost of funding earning assets
4.27%Net interest margin
0.54%Noninterest income to earning assets
9.32%Noninterest expense to earning assets
-4.09%Net operating income to assets
-4.09%Return on assets (ROA)
-4.09%Pretax return on assets
229.10%Return on equity (ROE)
229.10%Retained earnings to average equity (YTD only)
0.26%Net charge-offs to loans
52.94%Credit loss provision to net charge-offs
-23.00%Efficiency ratio
193,765Assets per employee
1.68%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.13%Loss allowance to noncurrent loans
21.36%Noncurrent assets plus other real estate owned to assets
4.11%Noncurrent loans to loans
5.31%Net loans and leases to deposits
60.14%Net loans and leases to core deposits
69.11%Equity capital to assets
-3.89%Core capital (leverage) ratio
3.53%Tier 1 risk-based capital ratio
6.94%Total risk-based capital ratio
Memoranda
$8Average assets
$9,780Average earning assets
-$175Average equity
$8,667Average loans
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