Northern Neck State Bank in Warsaw, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 12, 2010

  • Northern Neck State Bank in Warsaw, Virginia (VA)
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Northern Neck State Bank - Overview

  • General
  • FDIC Certificate #: 9991
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Union First Market Bank (#34589)
    Federal Reserve ID: 550327
    Date Established: May 09, 1909
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 8 (Interstate: No)
    OTS Docket #: 10434
    FDIC's unique #: 6385
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: October 12, 2010
    Last Structure Change Process Date: November 22, 2010
    Last Data Update: November 22, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 5839 Richmond Rd, Warsaw, VA 22572
    County: Richmond
    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
  • Financial Summary
  • Total assets: $342.0 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, 2009)

  • Dollar figures in thousands
  • 63Total employees (full-time equivalent)
  • $355,033Total assets
  • $6,049Cash and due from depository institutions
  • $395Interest-bearing balances
  • $89,754Securities
  • $16,894Federal funds sold & reverse repurchase agreements
  • $220,989Net loans & leases
  • $1,993Loan loss allowance
  • $0Trading account assets
  • $3,038Bank premises and fixed assets
  • $3,366Other real estate owned
  • $1,211Goodwill and other intangibles
  • $6,522Life insurance assets
  • $13,732All other assets
  • $355,033Total liabilities and capital
  • $323,963Total liabilities
  • $306,929Total deposits
  • $277,086Interest-bearing deposits
  • $306,929Deposits held in domestic offices
  • 91.69%% insured (estimated)
  • $5,776Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $10,000Other borrowed funds
  • $0Subordinated debt
  • $1,258All other liabilities
  • $31,070Total equity capital
  • $31,070Total bank equity capital
  • $31,070Perpetual preferred stock
  • $0Common stock
  • $849Surplus
  • $2,163Undivided profits
  • Memoranda
  • $28,058Noncurrent loans and leases
  • $49,328Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $1,200Earning assets
  • $0Long-term assets (5+ years)
  • $1,679Average Assets, year-to-date
  • $328,032Average Assets, quarterly
  • $169,504Volatile liabilities
  • $351,921Insider loans
  • $353,393FHLB advances
  • $69,401Loans and leases held for sale
  • $7,724Unused loan commitments
  • $10,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $49,328Total unused commitments
  • $0Restructured Loans and leases
  • $1,993Derivatives

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $18,118Total interest income
  • $7,011Total interest expense
  • $11,107Net interest income
  • $1,579Provision for loan and lease losses
  • $2,165Total noninterest income
  • $0Fiduciary activities
  • $1,382Service charges on deposit accounts
  • $0Trading account gains & fees
  • $783Additional noninterest income
  • $9,936Total noninterest expense
  • $2,845Salaries and employee benefits
  • $768Premises and equipment expense
  • $6,323Additional noninterest expense
  • $1,757Pre-tax net operating income
  • $11Securities gains (losses)
  • -$91Applicable income taxes
  • $1,859Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,859Net income attributable to bank
  • $0Net charge-offs
  • $1,859Cash dividends
  • $1,586Sale, conversion, retirement of capital stock, net
  • $1,210Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.52%Yield on earning assets
  • 2.14%Cost of funding earning assets
  • 3.39%Net interest margin
  • 0.66%Noninterest income to earning assets
  • 3.03%Noninterest expense to earning assets
  • 0.53%Net operating income to assets
  • 0.53%Return on assets (ROA)
  • 0.50%Pretax return on assets
  • 6.18%Return on equity (ROE)
  • 2.16%Retained earnings to average equity (YTD only)
  • 0.67%Net charge-offs to loans
  • 99.56%Credit loss provision to net charge-offs
  • 2.10%Efficiency ratio
  • 71,700Assets per employee
  • 5.64%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 65.09%Loss allowance to loans
  • 0.89%Loss allowance to noncurrent loans
  • 166.08%Noncurrent assets plus other real estate owned to assets
  • 1.29%Noncurrent loans to loans
  • 0.54%Net loans and leases to deposits
  • 72.00%Net loans and leases to core deposits
  • 90.83%Equity capital to assets
  • 8.75%Core capital (leverage) ratio
  • 8.40%Tier 1 risk-based capital ratio
  • 12.61%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $351,921Average earning assets
  • $30,081Average equity
  • $328,099Average loans

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