Independent Bank in Manassas, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of January 20, 1995

  • Independent Bank in Manassas, Virginia (VA)
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Independent Bank - Overview

  • General
  • FDIC Certificate #: 22678
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Crestar Bank (#832)
    Federal Reserve ID: 883324
    Date Established: July 06, 1978
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Interstate: No)
    FDIC's unique #: 15830
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: Yes
    Date of Deposit Insurance: July 06, 1978
    Last Structure Change Effective Date: January 20, 1995
    Last Structure Change Process Date: Febuary 02, 1995
    Last Data Update: Febuary 02, 1995
    Data Source Date: April 05, 2012
  • Location
  • Address: 8751 Sudley Road, Manassas, VA 22110
    County: Manassas 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): Washington, DC-MD-VA-WV (#8840)
    Consolidated Metropolitan Statistical Area (CMSA): Washington-Baltimore, DC-MD-VA-WV (#97)
    Combined Statistical Area (CSA): Washington-Baltimore-Northern Virginia, DC-MD-VA-WV (#548)
    Core Based Statistical Area (CBSA): Washington-Arlington-Alexandria, DC-VA-MD-WV (#47900)
    CBSA Metro Statistical Area: Washington-Arlington-Alexandria, DC-VA-MD-WV (#47900)
    Core Based Statistical Division: Washington-Arlington-Alexandria, DC-VA-MD-WV (#47894)
  • Financial Summary
  • Total assets: $84.5 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $44Total assets
  • $84,475Cash and due from depository institutions
  • $4,184Interest-bearing balances
  • $0Securities
  • $13,928Federal funds sold & reverse repurchase agreements
  • $10,000Net loans & leases
  • $51,924Loan loss allowance
  • $943Trading account assets
  • $0Bank premises and fixed assets
  • $1,717Other real estate owned
  • $1,512Goodwill and other intangibles
  • $1,210Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $84,475Total liabilities
  • $79,164Total deposits
  • $78,201Interest-bearing deposits
  • $51,441Deposits held in domestic offices
  • 78201.00%% insured (estimated)
  • $92Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $905Subordinated debt
  • $0All other liabilities
  • $58Total equity capital
  • $58Total bank equity capital
  • $5,311Perpetual preferred stock
  • $0Common stock
  • $1,020Surplus
  • $1,973Undivided profits
  • Memoranda
  • $2,318Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,668Income earned, not collected on loans
  • $270Earning assets
  • $75,852Long-term assets (5+ years)
  • $10,517Average Assets, year-to-date
  • $89,576Average Assets, quarterly
  • $87,384Volatile liabilities
  • $3,379Insider loans
  • $777FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $8,778Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $5,775Total risk weighted assets
  • $62,509Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1994)

  • Dollar figures in thousands
  • $0Total interest income
  • $6,098Total interest expense
  • $1,624Net interest income
  • $4,474Provision for loan and lease losses
  • $435Total noninterest income
  • $1,356Fiduciary activities
  • $0Service charges on deposit accounts
  • $1,084Trading account gains & fees
  • $0Additional noninterest income
  • $272Total noninterest expense
  • $4,620Salaries and employee benefits
  • $2,280Premises and equipment expense
  • $866Additional noninterest expense
  • $1,474Pre-tax net operating income
  • $775Securities gains (losses)
  • -$584Applicable income taxes
  • $80Income before extraordinary items
  • $111Extraordinary gains - net
  • $0Net income attributable to bank
  • $111Net charge-offs
  • $410Cash dividends
  • $153Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1994)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 7.69%Cost of funding earning assets
  • 2.05%Net interest margin
  • 5.64%Noninterest income to earning assets
  • 1.71%Noninterest expense to earning assets
  • 5.83%Net operating income to assets
  • 0.54%Return on assets (ROA)
  • 0.12%Pretax return on assets
  • 0.21%Return on equity (ROE)
  • 2.00%Retained earnings to average equity (YTD only)
  • -0.76%Net charge-offs to loans
  • 0.77%Credit loss provision to net charge-offs
  • 106.10%Efficiency ratio
  • 79,245Assets per employee
  • 1.92%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 137.84%Loss allowance to loans
  • 1.78%Loss allowance to noncurrent loans
  • 35.34%Noncurrent assets plus other real estate owned to assets
  • 4.95%Noncurrent loans to loans
  • 5.05%Net loans and leases to deposits
  • 66.40%Net loans and leases to core deposits
  • 68.57%Equity capital to assets
  • 6.29%Core capital (leverage) ratio
  • 6.63%Tier 1 risk-based capital ratio
  • 9.24%Total risk-based capital ratio
  • Memoranda
  • $10Average assets
  • $89,576Average earning assets
  • $5,553Average equity
  • $79,284Average loans

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