Progressive Bank, National Association-Buckhannon in Buckhannon, West Virginia (WV)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 27, 2003

Progressive Bank, National Association-Buckhannon in Buckhannon, West Virginia (WV)
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Progressive Bank, National Association-Buckhannon - Overview

General
FDIC Certificate #: 26765
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Progressive Bank, National Association (#10002)
Federal Reserve ID: 1009729
Date Established: August 11, 1986
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 2 (Interstate: No)
OTS Docket #: 10259
FDIC's unique #: 35882
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: August 11, 1986
Last Structure Change Effective Date: June 27, 2003
Last Structure Change Process Date: July 23, 2003
Last Data Update: July 23, 2003
Data Source Date: April 05, 2012
Location
Address: West Main And Locust Streets, Buckhannon, WV 26201
County: Upshur
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Scott Depot
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
Financial Summary
Total assets: $40.8 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, 2002)

Dollar figures in thousands
16Total employees (full-time equivalent)
$39,637Total assets
$770Cash and due from depository institutions
$15Interest-bearing balances
$12,510Securities
$415Federal funds sold & reverse repurchase agreements
$24,635Net loans & leases
$383Loan loss allowance
$0Trading account assets
$863Bank premises and fixed assets
$25Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$419All other assets
$39,637Total liabilities and capital
$36,160Total liabilities
$35,760Total deposits
$31,910Interest-bearing deposits
$35,760Deposits held in domestic offices
0.00%% insured (estimated)
$265Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$135All other liabilities
$3,477Total equity capital
$3,477Total bank equity capital
$3,477Perpetual preferred stock
$0Common stock
$300Surplus
$1,050Undivided profits
Memoranda
$2,127Noncurrent loans and leases
$1,333Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$13Earning assets
$0Long-term assets (5+ years)
$196Average Assets, year-to-date
$37,575Average Assets, quarterly
$16,457Volatile liabilities
$38,238Insider loans
$39,287FHLB advances
$2,914Loans and leases held for sale
$1,068Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$1,333Total unused commitments
$0Restructured Loans and leases
$310Derivatives

Income and Expense (December 31, 2002)

Dollar figures in thousands
$2,248Total interest income
$963Total interest expense
$1,285Net interest income
$105Provision for loan and lease losses
$201Total noninterest income
$0Fiduciary activities
$153Service charges on deposit accounts
$0Trading account gains & fees
$48Additional noninterest income
$919Total noninterest expense
$349Salaries and employee benefits
$178Premises and equipment expense
$392Additional noninterest expense
$462Pre-tax net operating income
$0Securities gains (losses)
$87Applicable income taxes
$375Income before extraordinary items
$0Extraordinary gains - net
$375Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$22Sale, conversion, retirement of capital stock, net
$16Net operating income

Performance and Condition Ratios (December 31, 2002)

Dollar figures in thousands
Performance Ratios (%, annualized)
6.28%Yield on earning assets
2.69%Cost of funding earning assets
3.59%Net interest margin
0.56%Noninterest income to earning assets
2.57%Noninterest expense to earning assets
0.98%Net operating income to assets
0.98%Return on assets (ROA)
1.21%Pretax return on assets
11.51%Return on equity (ROE)
11.02%Retained earnings to average equity (YTD only)
0.09%Net charge-offs to loans
477.27%Credit loss provision to net charge-offs
25.77%Efficiency ratio
61,844Assets per employee
2.48%Cash dividends to net income (YTD only)
Condition Ratios (%)
4.27%Loss allowance to loans
1.53%Loss allowance to noncurrent loans
2946.15%Noncurrent assets plus other real estate owned to assets
0.10%Noncurrent loans to loans
0.05%Net loans and leases to deposits
68.89%Net loans and leases to core deposits
74.40%Equity capital to assets
8.77%Core capital (leverage) ratio
8.32%Tier 1 risk-based capital ratio
13.26%Total risk-based capital ratio
Memoranda
$15Average assets
$38,238Average earning assets
$3,258Average equity
$35,806Average loans

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