Premier Bank-Richlands, National Association in Richlands, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 18, 1995

Premier Bank-Richlands, National Association in Richlands, Virginia (VA)
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Premier Bank-Richlands, National Association - Overview

General
FDIC Certificate #: 6901
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Premier Bank, National Association (#6921)
Federal Reserve ID: 393421
Date Established: May 19, 1916
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 4 (Interstate: No)
FDIC's unique #: 4637
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: January 01, 1934
Last Structure Change Effective Date: July 18, 1995
Last Structure Change Process Date: August 02, 1995
Last Data Update: August 02, 1995
Data Source Date: April 05, 2012
Location
Address: 1616 Second Street, Richlands, VA 24641
County: Tazewell
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
Core Based Statistical Area (CBSA): Bluefield, WV-VA (#14140)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $75.5 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)

Dollar figures in thousands
0Total employees (full-time equivalent)
$44Total assets
$78,588Cash and due from depository institutions
$2,549Interest-bearing balances
$0Securities
$35,922Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$36,530Loan loss allowance
$871Trading account assets
$0Bank premises and fixed assets
$1,695Other real estate owned
$209Goodwill and other intangibles
$1,271Life insurance assets
$412All other assets
$0Total liabilities and capital
$78,588Total liabilities
$69,145Total deposits
$67,692Interest-bearing deposits
$60,949Deposits held in domestic offices
67692.00%% insured (estimated)
$84Federal funds purchased & repurchase agreements
$1,100Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$353Total equity capital
$353Total bank equity capital
$9,443Perpetual preferred stock
$0Common stock
$355Surplus
$4,814Undivided profits
Memoranda
$4,274Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$1,002Income earned, not collected on loans
$157Earning assets
$72,452Long-term assets (5+ years)
$42,567Average Assets, year-to-date
$84,779Average Assets, quarterly
$79,042Volatile liabilities
$6,253Insider loans
$999FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$520Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$9,611Total risk weighted assets
$42,137Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1994)

Dollar figures in thousands
$0Total interest income
$6,299Total interest expense
$2,517Net interest income
$3,782Provision for loan and lease losses
$95Total noninterest income
$246Fiduciary activities
$0Service charges on deposit accounts
$148Trading account gains & fees
$0Additional noninterest income
$98Total noninterest expense
$2,360Salaries and employee benefits
$1,027Premises and equipment expense
$184Additional noninterest expense
$1,149Pre-tax net operating income
$1,573Securities gains (losses)
$97Applicable income taxes
$447Income before extraordinary items
$1,223Extraordinary gains - net
$0Net income attributable to bank
$1,223Net charge-offs
$192Cash dividends
$469Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1994)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
7.94%Cost of funding earning assets
3.17%Net interest margin
4.77%Noninterest income to earning assets
0.31%Noninterest expense to earning assets
2.97%Net operating income to assets
1.36%Return on assets (ROA)
1.44%Pretax return on assets
1.97%Return on equity (ROE)
13.06%Retained earnings to average equity (YTD only)
8.05%Net charge-offs to loans
0.49%Credit loss provision to net charge-offs
49.48%Efficiency ratio
56,380Assets per employee
1.79%Cash dividends to net income (YTD only)
Condition Ratios (%)
38.35%Loss allowance to loans
2.33%Loss allowance to noncurrent loans
86.93%Noncurrent assets plus other real estate owned to assets
1.54%Noncurrent loans to loans
2.68%Net loans and leases to deposits
53.97%Net loans and leases to core deposits
58.41%Equity capital to assets
12.02%Core capital (leverage) ratio
12.20%Tier 1 risk-based capital ratio
22.81%Total risk-based capital ratio
Memoranda
$24Average assets
$84,779Average earning assets
$9,366Average equity
$79,351Average loans

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