New Atlantic Bank, National Association in Norfolk, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of August 12, 1993

  • New Atlantic Bank, National Association in Norfolk, Virginia (VA)
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New Atlantic Bank, National Association - Overview

  • General
  • FDIC Certificate #: 32728
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: Bank of Hampton Roads (#27125)
    Federal Reserve ID: 1421219
    Date Established: December 07, 1989
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 1 (Interstate: No)
    FDIC's unique #: 45591
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: No
    Date of Deposit Insurance: December 07, 1989
    Last Structure Change Effective Date: August 12, 1993
    Last Structure Change Process Date: August 17, 1993
    Last Data Update: December 13, 1993
    Data Source Date: April 05, 2012
  • Location
  • Address: 415 St. Paul's Boulevard, 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 Changes
  • Absorption - Assisted
    Corrections
  • Financial Summary
  • Total assets: $15.1 mil

Assets and Liabilities (December 31, 1992)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $18Total assets
  • $16,023Cash and due from depository institutions
  • $854Interest-bearing balances
  • $0Securities
  • $4,298Federal funds sold & reverse repurchase agreements
  • $2,590Net loans & leases
  • $7,303Loan loss allowance
  • $198Trading account assets
  • $0Bank premises and fixed assets
  • $183Other real estate owned
  • $120Goodwill and other intangibles
  • $198Life insurance assets
  • $477All other assets
  • $0Total liabilities and capital
  • $16,023Total liabilities
  • $15,368Total deposits
  • $15,286Interest-bearing deposits
  • $12,590Deposits held in domestic offices
  • 15286.00%% insured (estimated)
  • $94Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $82Total equity capital
  • $82Total bank equity capital
  • $655Perpetual preferred stock
  • $0Common stock
  • $306Surplus
  • $1,186Undivided profits
  • Memoranda
  • $-837Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $489Income earned, not collected on loans
  • $52Earning assets
  • $14,191Long-term assets (5+ years)
  • $885Average Assets, year-to-date
  • $17,619Average Assets, quarterly
  • $16,410Volatile liabilities
  • $3,516Insider loans
  • $0FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $178Total risk weighted assets
  • $6,537Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1992)

  • Dollar figures in thousands
  • $0Total interest income
  • $1,360Total interest expense
  • $647Net interest income
  • $713Provision for loan and lease losses
  • $414Total noninterest income
  • $418Fiduciary activities
  • $0Service charges on deposit accounts
  • $302Trading account gains & fees
  • $0Additional noninterest income
  • $116Total noninterest expense
  • $1,310Salaries and employee benefits
  • $485Premises and equipment expense
  • $245Additional noninterest expense
  • $580Pre-tax net operating income
  • -$593Securities gains (losses)
  • $33Applicable income taxes
  • $0Income before extraordinary items
  • -$560Extraordinary gains - net
  • $0Net income attributable to bank
  • -$560Net charge-offs
  • $445Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • -$9Net operating income

Performance and Condition Ratios (December 31, 1992)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 8.65%Cost of funding earning assets
  • 4.11%Net interest margin
  • 4.53%Noninterest income to earning assets
  • 2.66%Noninterest expense to earning assets
  • 8.33%Net operating income to assets
  • -3.37%Return on assets (ROA)
  • -3.18%Pretax return on assets
  • -3.18%Return on equity (ROE)
  • -55.29%Retained earnings to average equity (YTD only)
  • -55.29%Net charge-offs to loans
  • 5.05%Credit loss provision to net charge-offs
  • 93.03%Efficiency ratio
  • 112,290Assets per employee
  • 0.89%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.64%Loss allowance to noncurrent loans
  • 40.49%Noncurrent assets plus other real estate owned to assets
  • 3.80%Noncurrent loans to loans
  • 6.52%Net loans and leases to deposits
  • 47.78%Net loans and leases to core deposits
  • 62.05%Equity capital to assets
  • 4.09%Core capital (leverage) ratio
  • 1.08%Tier 1 risk-based capital ratio
  • 2.72%Total risk-based capital ratio
  • Memoranda
  • $4Average assets
  • $17,619Average earning assets
  • $1,013Average equity
  • $15,726Average loans

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