Life Savings Bank, FSB in Norfolk, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of August 17, 1998

  • Life Savings Bank, FSB in Norfolk, Virginia (VA)
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Life Savings Bank, FSB - Overview

  • General
  • FDIC Certificate #: 29560
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Branch Banking and Trust Company of Virginia (#22584)
    Federal Reserve ID: 389778
    Date Established: November 14, 1935
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 3666
    FDIC's unique #: 42394
    Numeric code: 33
    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: November 14, 1935
    Last Structure Change Effective Date: August 17, 1998
    Last Structure Change Process Date: September 02, 1998
    Last Data Update: September 02, 1998
    Data Source Date: April 05, 2012
  • Location
  • Address: 109 Main 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)
  • Financial Summary
  • Total assets: $1,344.0 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1997)

  • Dollar figures in thousands
  • 218Total employees (full-time equivalent)
  • $1,446,484Total assets
  • $62,342Cash and due from depository institutions
  • $49,906Interest-bearing balances
  • $702,817Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $633,165Net loans & leases
  • $11,461Loan loss allowance
  • $0Trading account assets
  • $13,785Bank premises and fixed assets
  • $939Other real estate owned
  • $4,080Goodwill and other intangibles
  • $0Life insurance assets
  • $29,356All other assets
  • $1,446,484Total liabilities and capital
  • $1,320,027Total liabilities
  • $738,069Total deposits
  • $729,831Interest-bearing deposits
  • $738,069Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $261,000Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $309,603Other borrowed funds
  • $0Subordinated debt
  • $11,355All other liabilities
  • $126,457Total equity capital
  • $126,457Total bank equity capital
  • $126,457Perpetual preferred stock
  • $0Common stock
  • $1Surplus
  • $60,665Undivided profits
  • Memoranda
  • $65,791Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $2,867Earning assets
  • $0Long-term assets (5+ years)
  • $4,215Average Assets, year-to-date
  • $1,385,888Average Assets, quarterly
  • $0Volatile liabilities
  • $1,449,440Insider loans
  • $1,466,355FHLB advances
  • $635,909Loans and leases held for sale
  • $1,204Unused loan commitments
  • $288,298Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $88,943Total unused commitments
  • $0Restructured Loans and leases
  • $615,151Derivatives

Income and Expense (December 31, 1997)

  • Dollar figures in thousands
  • $105,674Total interest income
  • $70,441Total interest expense
  • $35,233Net interest income
  • $7,838Provision for loan and lease losses
  • $3,987Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $3,987Additional noninterest income
  • $39,858Total noninterest expense
  • $26,931Salaries and employee benefits
  • $6,285Premises and equipment expense
  • $6,642Additional noninterest expense
  • -$8,476Pre-tax net operating income
  • $1,002Securities gains (losses)
  • -$1,882Applicable income taxes
  • -$5,592Income before extraordinary items
  • $0Extraordinary gains - net
  • -$5,592Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $2,799Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1997)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.60%Yield on earning assets
  • 5.07%Cost of funding earning assets
  • 2.53%Net interest margin
  • 0.29%Noninterest income to earning assets
  • 2.87%Noninterest expense to earning assets
  • -0.44%Net operating income to assets
  • -0.39%Return on assets (ROA)
  • -0.52%Pretax return on assets
  • -4.23%Return on equity (ROE)
  • -4.23%Retained earnings to average equity (YTD only)
  • 0.43%Net charge-offs to loans
  • 280.03%Credit loss provision to net charge-offs
  • -0.23%Efficiency ratio
  • 99,368Assets per employee
  • 6.64%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.78%Loss allowance to noncurrent loans
  • 399.76%Noncurrent assets plus other real estate owned to assets
  • 0.26%Noncurrent loans to loans
  • 0.44%Net loans and leases to deposits
  • 85.79%Net loans and leases to core deposits
  • 94.11%Equity capital to assets
  • 8.74%Core capital (leverage) ratio
  • 8.23%Tier 1 risk-based capital ratio
  • 19.24%Total risk-based capital ratio
  • Memoranda
  • $20Average assets
  • $1,449,440Average earning assets
  • $132,208Average equity
  • $1,390,091Average loans

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