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

  • New Horizon Bank, National Association in Powhatan, Virginia (VA)
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New Horizon Bank, National Association - Overview

  • General
  • FDIC Certificate #: 58857
    Status: Active
    Federal Reserve ID: 3816154
    Date Established: October 07, 2009
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 1 (Domestic: 1, Interstate: No)
    FDIC's unique #: 470809
    Numeric code: 3
    Regulator: OCC
    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: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: October 07, 2009
    Last Structure Change Effective Date: October 07, 2009
    Last Structure Change Process Date: November 05, 2009
    Last Data Update: November 05, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 2501 Anderson Highway, Powhatan, VA 23139
    County: Powhatan
    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): Richmond-Petersburg, VA (#6760)
    Core Based Statistical Area (CBSA): Richmond, VA (#40060)
    CBSA Metro Statistical Area: Richmond, VA (#40060)
  • History of Changes
  • Change in Geographic Region/Area/Territory/Field Office
    New Institution
  • Financial Summary
  • Total assets: $47.0 mil
    Equity capital: $6.1 mil
    Deposits held in domestic offices: $32.7 mil
    Return on assets (ROA): -1.34% (-$0.6 mil)
    Quarterly return on assets: -0.58% (-$0.3 mil)
    Return on Equity (ROE): -7.37% (-$0.4 mil)
    Quarterly return on equity: -4.18% (-$0.3 mil)
    Net income: -$0.5 mil
    Quarterly Net income: -$0.1 mil
    Pretax return on assets: -1.34% (-$629.3 mil)
    Quarterly Pretax return on assets: -0.58% (-$272.4 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
  • 13Total employees (full-time equivalent)
  • $46,964Total assets
  • $1,026Cash and due from depository institutions
  • $342Interest-bearing balances
  • $18,154Securities
  • $465Federal funds sold & reverse repurchase agreements
  • $26,257Net loans & leases
  • $283Loan loss allowance
  • $0Trading account assets
  • $264Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $46,964Life insurance assets
  • $798All other assets
  • $40,872Total liabilities and capital
  • $32,691Total liabilities
  • $28,761Total deposits
  • $32,691Interest-bearing deposits
  • $83Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $8,000Trading liabilities
  • $0Other borrowed funds
  • $181Subordinated debt
  • $6,092All other liabilities
  • $6,092Total equity capital
  • $6,092Total bank equity capital
  • $0Perpetual preferred stock
  • $4,563Common stock
  • $4,563Surplus
  • $-3,034Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $130Income earned, not collected on loans
  • $0Earning assets
  • $118Long-term assets (5+ years)
  • $45,218Average Assets, year-to-date
  • $23,097Average Assets, quarterly
  • $34,564Volatile liabilities
  • $44,334Insider loans
  • $24,821FHLB advances
  • $37,935Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $6,086Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $4,721Restructured Loans and leases
  • $1,802Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $1,556Total interest income
  • $304Total interest expense
  • $1,252Net interest income
  • $113Provision for loan and lease losses
  • $73Total noninterest income
  • $0Fiduciary activities
  • $30Service charges on deposit accounts
  • $0Trading account gains & fees
  • $43Additional noninterest income
  • $1,675Total noninterest expense
  • $814Salaries and employee benefits
  • $309Premises and equipment expense
  • $552Additional noninterest expense
  • -$463Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • -$463Income before extraordinary items
  • $0Extraordinary gains - net
  • -$463Net income attributable to bank
  • $0Net charge-offs
  • -$463Cash dividends
  • $12Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.68%Yield on earning assets
  • 0.91%Cost of funding earning assets
  • 3.76%Net interest margin
  • 0.22%Noninterest income to earning assets
  • 5.04%Noninterest expense to earning assets
  • -1.34%Net operating income to assets
  • -1.34%Return on assets (ROA)
  • -1.34%Pretax return on assets
  • -7.37%Return on equity (ROE)
  • -7.37%Retained earnings to average equity (YTD only)
  • 0.06%Net charge-offs to loans
  • 941.67%Credit loss provision to net charge-offs
  • -29.17%Efficiency ratio
  • 126,415Assets per employee
  • 3.61%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.07%Loss allowance to noncurrent loans
  • 217.69%Noncurrent assets plus other real estate owned to assets
  • 0.28%Noncurrent loans to loans
  • 0.49%Net loans and leases to deposits
  • 80.32%Net loans and leases to core deposits
  • 89.65%Equity capital to assets
  • 12.97%Core capital (leverage) ratio
  • 16.04%Tier 1 risk-based capital ratio
  • 24.52%Total risk-based capital ratio
  • Memoranda
  • $26Average assets
  • $34,564Average earning assets
  • $6,284Average equity
  • $33,262Average loans

List of branches

  • 1 Virginia Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0470809New Horizon Bank, National Association2501 Anderson Highway, Powhatan, VA 23139October 07, 2009Full Service Brick and Mortar

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