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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