Miners Exchange Bank in Coeburn, Virginia (VA), TN



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Miners Exchange Bank routing number info

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Miners Exchange Bank
GeneralFDIC Certificate #: 23989
Status: Active
Federal Reserve ID: 711520
Date Established: July 08, 1982
WWW: http://www.mymeb.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 7 (Domestic: 7, Interstate: Yes)
FDIC's unique #: 16730
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: All Other Specialization < 1 Billion
Date of Deposit Insurance: July 08, 1982
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
LocationAddress: 483 Front Street, Coeburn, VA 24230
County: Wise
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
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $160.1 mil
Equity capital: $9.6 mil
Deposits held in domestic offices: $149.6 mil
Return on assets (ROA): 0.56% ($0.9 mil)
Quarterly return on assets: 0.46% ($0.7 mil)
Return on Equity (ROE): 8.63% ($0.9 mil)
Quarterly return on equity: 7.16% ($0.7 mil)
Net income: $0.8 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 0.85% ($1,360.9 mil)
Quarterly Pretax return on assets: 0.63% ($1,008.6 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)
Total employees (full-time equivalent)64
Total assets$160,102
Cash and due from depository institutions$8,555
Interest-bearing balances$250
Securities$32,448
Federal funds sold & reverse repurchase agreements$47,476
Net loans & leases$65,204
Loan loss allowance $996
Trading account assets$0
Bank premises and fixed assets$4,143
Other real estate owned$444
Goodwill and other intangibles$0
All other assets$1,832
Life insurance assets$160,102
Total liabilities and capital$150,513
Total liabilities$149,596
Total deposits$100,135
Interest-bearing deposits$149,596
Deposits held in domestic offices$57
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $917
All other liabilities $9,589
Total equity capital$9,589
Total bank equity capital$9,589
Perpetual preferred stock$0
Common stock$1,150
Surplus$1,150
Undivided profits $7,289
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $685
Earning assets $0
Long-term assets (5+ years) $445
Average Assets, year-to-date $145,378
Average Assets, quarterly $64,616
Volatile liabilities $138,797
Insider loans $149,323
FHLB advances $72,240
Loans and leases held for sale $145,932
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $9,437
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $1,522
Derivatives$1,364
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $6,017
Total interest expense $927
Net interest income $5,090
Provision for loan and lease losses $169
Total noninterest income $746
Fiduciary activities $0
Service charges on deposit accounts $477
Trading account gains & fees $0
Additional noninterest income $269
Total noninterest expense $4,497
Salaries and employee benefits $2,293
Premises and equipment expense $865
Additional noninterest expense $1,339
Pre-tax net operating income $1,170
Securities gains (losses) $8
Applicable income taxes $394
Income before extraordinary items $784
Extraordinary gains - net $0
Net income attributable to bank $784
Net charge-offs $0
Cash dividends $784
Sale, conversion, retirement of capital stock, net $165
Net operating income $299
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.81%
Cost of funding earning assets 0.74%
Net interest margin 4.07%
Noninterest income to earning assets 0.60%
Noninterest expense to earning assets 3.60%
Net operating income to assets 0.56%
Return on assets (ROA) 0.56%
Pretax return on assets 0.85%
Return on equity (ROE) 8.63%
Retained earnings to average equity (YTD only) 5.34%
Net charge-offs to loans 0.25%
Credit loss provision to net charge-offs 102.42%
Efficiency ratio8.12%
Assets per employee$77,056
Cash dividends to net income (YTD only)2.50%
Condition Ratios (%)
Loss allowance to loans 38.14%
Loss allowance to noncurrent loans 1.50%
Noncurrent assets plus other real estate owned to assets 145.40%
Noncurrent loans to loans 0.71%
Net loans and leases to deposits1.03%
Net loans and leases to core deposits 43.59%
Equity capital to assets 57.02%
Core capital (leverage) ratio 5.99%
Tier 1 risk-based capital ratio 6.47%
Total risk-based capital ratio 13.06%
Memoranda
Average assets$14
Average earning assets$138,797
Average equity $9,084
Average loans $125,025
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2 Tennessee Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
5452382Gray Branch5575 Bobby Hicks Hwy, Johnson City, TN 37615November 30, 2005Full Service Brick and Mortar
6478826Miners Exchange Bank Branch1221 Lynn Garden Drive, Kingsport, TN 37660November 28, 2007Full Service Brick and Mortar
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5 Virginia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
016730Miners Exchange Bank483 Front Street, Coeburn, VA 24230July 08, 1982Full Service Brick and Mortar
1256862Norton Branch1470 Park Ave., Nw Norton Square Shopping Center, Route 58, Norton, VA 24273November 27, 1987Full Service Brick and Mortar
2256863St. Paul Branch16421 Wise St., Riverside Shopping Center, Saint Paul, VA 24283January 24, 1993Full Service Brick and Mortar
3256864Laurel Avenue Branch201 Laurel Avenue, Coeburn, VA 24230March 18, 1996Limited Service Facility
4256865Appalachia Branch102 Main Street, Appalachia, VA 24216December 13, 1995Full Service Brick and Mortar
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