Piedmont Federal Savings Association in Manassas, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of May 13, 1994

  • Piedmont Federal Savings Association in Manassas, Virginia (VA)
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Piedmont Federal Savings Association - Overview

  • General
  • FDIC Certificate #: 33703
    Status: Inactive
    Closing history: Conservatorship Institution Resolved
    Acquiring institution: Crestar Bank (#832)
    Federal Reserve ID: 755270
    Date Established: October 09, 1992
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 10354
    FDIC's unique #: 47811
    Numeric code: 38
    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: October 09, 1992
    Last Structure Change Effective Date: May 13, 1994
    Last Structure Change Process Date: May 24, 1994
    Last Data Update: August 02, 1994
    Data Source Date: April 05, 2012
  • Location
  • Address: 9323 West Street, Manassas, VA 22110
    County: Manassas 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): Washington, DC-MD-VA-WV (#8840)
    Consolidated Metropolitan Statistical Area (CMSA): Washington-Baltimore, DC-MD-VA-WV (#97)
    Combined Statistical Area (CSA): Washington-Baltimore-Northern Virginia, DC-MD-VA-WV (#548)
    Core Based Statistical Area (CBSA): Washington-Arlington-Alexandria, DC-VA-MD-WV (#47900)
    CBSA Metro Statistical Area: Washington-Arlington-Alexandria, DC-VA-MD-WV (#47900)
    Core Based Statistical Division: Washington-Arlington-Alexandria, DC-VA-MD-WV (#47894)
  • History of Changes
  • Pass Through Receivership Merger
    Conservatorship Institution Resolved
  • Financial Summary
  • Total assets: $261.5 mil

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

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $113Total assets
  • $277,442Cash and due from depository institutions
  • $23,037Interest-bearing balances
  • $12,992Securities
  • $19,692Federal funds sold & reverse repurchase agreements
  • $0Net loans & leases
  • $184,751Loan loss allowance
  • $12,804Trading account assets
  • $0Bank premises and fixed assets
  • $8,935Other real estate owned
  • $34,529Goodwill and other intangibles
  • $6,498Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $277,442Total liabilities
  • $309,925Total deposits
  • $172,915Interest-bearing deposits
  • $172,915Deposits held in domestic offices
  • 172915.00%% insured (estimated)
  • $96Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $132,912Subordinated debt
  • $0All other liabilities
  • $4,098Total equity capital
  • $4,098Total bank equity capital
  • $-32,483Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $0Undivided profits
  • Memoranda
  • $-32,483Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $36,354Income earned, not collected on loans
  • $1,180Earning assets
  • $217,435Long-term assets (5+ years)
  • $0Average Assets, year-to-date
  • $326,831Average Assets, quarterly
  • $290,922Volatile liabilities
  • $143,060Insider loans
  • $155FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $869Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $-32,483Total risk weighted assets
  • $212,197Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1993)

  • Dollar figures in thousands
  • $0Total interest income
  • $17,214Total interest expense
  • $14,798Net interest income
  • $2,416Provision for loan and lease losses
  • $600Total noninterest income
  • $1,011Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $0Additional noninterest income
  • $1,011Total noninterest expense
  • $32,599Salaries and employee benefits
  • $3,109Premises and equipment expense
  • $2,169Additional noninterest expense
  • $27,321Pre-tax net operating income
  • -$29,772Securities gains (losses)
  • -$295Applicable income taxes
  • -$41Income before extraordinary items
  • -$30,026Extraordinary gains - net
  • $0Net income attributable to bank
  • -$30,026Net charge-offs
  • $2,704Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1993)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 7.05%Cost of funding earning assets
  • 6.06%Net interest margin
  • 0.99%Noninterest income to earning assets
  • 0.41%Noninterest expense to earning assets
  • 13.35%Net operating income to assets
  • -9.10%Return on assets (ROA)
  • -9.19%Pretax return on assets
  • -9.20%Return on equity (ROE)
  • 237.52%Retained earnings to average equity (YTD only)
  • 237.52%Net charge-offs to loans
  • 1.22%Credit loss provision to net charge-offs
  • 22.19%Efficiency ratio
  • 951,240Assets per employee
  • 2.46%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 6.48%Loss allowance to noncurrent loans
  • 35.22%Noncurrent assets plus other real estate owned to assets
  • 23.65%Noncurrent loans to loans
  • 18.40%Net loans and leases to deposits
  • 106.84%Net loans and leases to core deposits
  • 113.51%Equity capital to assets
  • -11.71%Core capital (leverage) ratio
  • -11.71%Tier 1 risk-based capital ratio
  • -15.31%Total risk-based capital ratio
  • Memoranda
  • -$15Average assets
  • $326,831Average earning assets
  • -$12,641Average equity
  • $244,237Average loans

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