Riggs Bank National Association in Mclean, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of May 16, 2005

  • Riggs Bank National Association in Mclean, Virginia (VA)
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Riggs Bank National Association - Overview

  • General
  • FDIC Certificate #: 2095
    Status: Inactive
    Federal Reserve ID: 922728
    Date Established: January 01, 1836
    WWW: http://www.riggsbank.com
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 1 (Interstate: No)
    OTS Docket #: 13051
    FDIC's unique #: 1381
    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: May 16, 2005
    Last Structure Change Process Date: July 11, 2005
    Last Data Update: July 11, 2005
    Data Source Date: April 05, 2012
  • Location
  • Address: 6805 Old Dominion Drive, Mclean, VA 22101
    County: Fairfax
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: New York
    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
  • Other Liquidations and Closings
    Change in Insurance Status
  • Financial Summary
  • Total assets: $5,761.0 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, 2004)

  • Dollar figures in thousands
  • 1,306Total employees (full-time equivalent)
  • $5,826,009Total assets
  • $212,950Cash and due from depository institutions
  • $65,391Interest-bearing balances
  • $1,568,637Securities
  • $450,000Federal funds sold & reverse repurchase agreements
  • $2,976,615Net loans & leases
  • $24,717Loan loss allowance
  • $0Trading account assets
  • $134,900Bank premises and fixed assets
  • $0Other real estate owned
  • $5,060Goodwill and other intangibles
  • $0Life insurance assets
  • $477,847All other assets
  • $5,826,009Total liabilities and capital
  • $5,390,518Total liabilities
  • $3,810,208Total deposits
  • $3,322,278Interest-bearing deposits
  • $3,791,009Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $670,013Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $696,292Other borrowed funds
  • $0Subordinated debt
  • $214,005All other liabilities
  • $435,491Total equity capital
  • $435,491Total bank equity capital
  • $435,491Perpetual preferred stock
  • $0Common stock
  • $20,771Surplus
  • $362,522Undivided profits
  • Memoranda
  • $52,198Noncurrent loans and leases
  • $1,444,307Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $6,317Earning assets
  • $2,596Long-term assets (5+ years)
  • $20,930Average Assets, year-to-date
  • $5,060,643Average Assets, quarterly
  • $1,805,837Volatile liabilities
  • $5,964,648Insider loans
  • $5,749,463FHLB advances
  • $1,862,417Loans and leases held for sale
  • $5,290Unused loan commitments
  • $683,229Tier 1 (core) risk-based capital
  • $55,723Tier 2 risk-based capital
  • $713Total risk weighted assets
  • $1,444,307Total unused commitments
  • $0Restructured Loans and leases
  • $24,868Derivatives
  • $354,788Total assets and liabilities in foreign offices

Income and Expense (December 31, 2004)

  • Dollar figures in thousands
  • $224,000Total interest income
  • $54,748Total interest expense
  • $169,252Net interest income
  • $49Provision for loan and lease losses
  • $96,952Total noninterest income
  • $35,605Fiduciary activities
  • $21,629Service charges on deposit accounts
  • $0Trading account gains & fees
  • $39,718Additional noninterest income
  • $331,308Total noninterest expense
  • $125,770Salaries and employee benefits
  • $38,097Premises and equipment expense
  • $167,441Additional noninterest expense
  • -$65,153Pre-tax net operating income
  • $228Securities gains (losses)
  • -$4,046Applicable income taxes
  • -$60,879Income before extraordinary items
  • $1,670Extraordinary gains - net
  • -$59,209Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $2,194Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2004)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.32%Yield on earning assets
  • 1.06%Cost of funding earning assets
  • 3.26%Net interest margin
  • 1.87%Noninterest income to earning assets
  • 6.39%Noninterest expense to earning assets
  • -1.02%Net operating income to assets
  • -0.99%Return on assets (ROA)
  • -1.06%Pretax return on assets
  • -13.77%Return on equity (ROE)
  • -13.77%Retained earnings to average equity (YTD only)
  • 0.07%Net charge-offs to loans
  • 2.23%Credit loss provision to net charge-offs
  • -29.67%Efficiency ratio
  • 124,124Assets per employee
  • 4.46%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.82%Loss allowance to noncurrent loans
  • 391.28%Noncurrent assets plus other real estate owned to assets
  • 0.11%Noncurrent loans to loans
  • 0.21%Net loans and leases to deposits
  • 78.12%Net loans and leases to core deposits
  • 109.52%Equity capital to assets
  • 7.47%Core capital (leverage) ratio
  • 7.72%Tier 1 risk-based capital ratio
  • 11.58%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $5,964,648Average earning assets
  • $429,851Average equity
  • $5,184,579Average loans

Total Fiduciary and Related Assets (December 31, 2004)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $9,826,265Managed Assets
  • 1Number of Accounts
  • $6,290,645Personal trust and agency accounts
  • $1,735,705Employee benefit-defined contribution accounts
  • $3,272Employee benefit-defined benefit accounts
  • $4,239,881Other retirement accounts
  • $116,597Corporate trust and agency accounts
  • $1,641Investment management agency accounts
  • $172,679Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $20,870Non-managed Assets
  • 3045Number of Accounts
  • $482,058Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $3,535,620Other retirement accounts
  • $111,044Corporate trust and agency accounts
  • $2,617,298Other fiduciary accounts
  • $147,895Fiduciary accounts held in foreign offices

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