Resource Bank in Virginia Beach, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 15, 2008

  • Resource Bank in Virginia Beach, Virginia (VA)
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Resource Bank - Overview

  • General
  • FDIC Certificate #: 27322
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Fulton Bank, National Association (#7551)
    Federal Reserve ID: 1216291
    Date Established: September 01, 1988
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 10 (Interstate: No)
    OTS Docket #: 11651
    FDIC's unique #: 39576
    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: September 01, 1988
    Last Structure Change Effective Date: March 15, 2008
    Last Structure Change Process Date: March 27, 2008
    Last Data Update: March 27, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 4429 Bonney Road, Virginia Beach, VA 23462
    County: Virginia Beach 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): Norfolk-Virginia Beach-Newport News, VA-NC (#5720)
    Core Based Statistical Area (CBSA): Virginia Beach-Norfolk-Newport News, VA-NC (#47260)
    CBSA Metro Statistical Area: Virginia Beach-Norfolk-Newport News, VA-NC (#47260)
  • Financial Summary
  • Total assets: $1,500.3 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, 2007)

  • Dollar figures in thousands
  • 346Total employees (full-time equivalent)
  • $1,500,298Total assets
  • $11,503Cash and due from depository institutions
  • $1,055Interest-bearing balances
  • $150,991Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $1,097,530Net loans & leases
  • $8,685Loan loss allowance
  • $0Trading account assets
  • $23,461Bank premises and fixed assets
  • $14,359Other real estate owned
  • $145,374Goodwill and other intangibles
  • $16,190Life insurance assets
  • $57,080All other assets
  • $1,500,298Total liabilities and capital
  • $1,262,175Total liabilities
  • $765,530Total deposits
  • $748,862Interest-bearing deposits
  • $765,530Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $323,062Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $128,372Other borrowed funds
  • $11,000Subordinated debt
  • $34,211All other liabilities
  • $238,123Total equity capital
  • $238,123Total bank equity capital
  • $238,123Perpetual preferred stock
  • $0Common stock
  • $3,869Surplus
  • $205,212Undivided profits
  • Memoranda
  • $29,042Noncurrent loans and leases
  • $368,122Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $34,723Earning assets
  • $0Long-term assets (5+ years)
  • $10,781Average Assets, year-to-date
  • $1,249,576Average Assets, quarterly
  • $229,183Volatile liabilities
  • $1,454,553Insider loans
  • $1,487,819FHLB advances
  • $437,662Loans and leases held for sale
  • $18,157Unused loan commitments
  • $123,664Tier 1 (core) risk-based capital
  • $277,567Tier 2 risk-based capital
  • $51,010Total risk weighted assets
  • $368,122Total unused commitments
  • $0Restructured Loans and leases
  • $19,782Derivatives

Income and Expense (December 31, 2007)

  • Dollar figures in thousands
  • $93,056Total interest income
  • $58,001Total interest expense
  • $35,055Net interest income
  • $2,850Provision for loan and lease losses
  • $14,190Total noninterest income
  • $0Fiduciary activities
  • $507Service charges on deposit accounts
  • $0Trading account gains & fees
  • $13,683Additional noninterest income
  • $64,340Total noninterest expense
  • $19,013Salaries and employee benefits
  • $5,106Premises and equipment expense
  • $40,221Additional noninterest expense
  • -$17,945Pre-tax net operating income
  • $43Securities gains (losses)
  • -$6,758Applicable income taxes
  • -$11,144Income before extraordinary items
  • $0Extraordinary gains - net
  • -$11,144Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $1,312Sale, conversion, retirement of capital stock, net
  • $750Net operating income

Performance and Condition Ratios (December 31, 2007)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.67%Yield on earning assets
  • 4.78%Cost of funding earning assets
  • 2.89%Net interest margin
  • 1.17%Noninterest income to earning assets
  • 5.30%Noninterest expense to earning assets
  • -0.77%Net operating income to assets
  • -0.77%Return on assets (ROA)
  • -1.23%Pretax return on assets
  • -4.76%Return on equity (ROE)
  • -5.08%Retained earnings to average equity (YTD only)
  • 0.12%Net charge-offs to loans
  • 217.23%Credit loss provision to net charge-offs
  • -11.51%Efficiency ratio
  • 130,139Assets per employee
  • 4.34%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • -6.73%Loss allowance to loans
  • 0.79%Loss allowance to noncurrent loans
  • 25.01%Noncurrent assets plus other real estate owned to assets
  • 3.27%Noncurrent loans to loans
  • 3.14%Net loans and leases to deposits
  • 143.37%Net loans and leases to core deposits
  • 167.29%Equity capital to assets
  • 15.87%Core capital (leverage) ratio
  • 6.93%Tier 1 risk-based capital ratio
  • 8.86%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $1,454,553Average earning assets
  • $234,248Average equity
  • $1,213,331Average loans

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