FDIC Certificate #: 33195 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:United Bank (#22858) Federal Reserve ID: 1495331 Date Established: November 15, 1990 Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 13 (Interstate: No) OTS Docket #: 12038 FDIC's unique #: 46432 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: November 15, 1990 Last Structure Change Effective Date: July 14, 2007 Last Structure Change Process Date: August 13, 2007 Last Data Update: August 13, 2007 Data Source Date: April 05, 2012
Location
Address: 110 University Boulevard, Harrisonburg, VA 22801 County: Harrisonburg 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 Core Based Statistical Area (CBSA): Harrisonburg, VA (#25500) CBSA Metro Statistical Area: Harrisonburg, VA (#25500)
Financial Summary
Total assets: $427.4 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2006)
Dollar figures in thousands
123Total employees (full-time equivalent)
$432,309Total assets
$12,697Cash and due from depository institutions
$1,494Interest-bearing balances
$16,059Securities
$13,138Federal funds sold & reverse repurchase agreements
$352,120Net loans & leases
$2,995Loan loss allowance
$0Trading account assets
$10,108Bank premises and fixed assets
$0Other real estate owned
$18,003Goodwill and other intangibles
$3,201Life insurance assets
$10,184All other assets
$432,310Total liabilities and capital
$374,652Total liabilities
$352,238Total deposits
$308,161Interest-bearing deposits
$352,238Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$20,597Other borrowed funds
$0Subordinated debt
$1,817All other liabilities
$57,658Total equity capital
$57,658Total bank equity capital
$57,658Perpetual preferred stock
$0Common stock
$7,950Surplus
$22,357Undivided profits
Memoranda
$27,351Noncurrent loans and leases
$108,072Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$4,685Earning assets
$0Long-term assets (5+ years)
$1,734Average Assets, year-to-date
$382,811Average Assets, quarterly
$12,734Volatile liabilities
$334,493Insider loans
$427,483FHLB advances
$93,349Loans and leases held for sale
$2,483Unused loan commitments
$20,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$108,072Total unused commitments
$0Restructured Loans and leases
$2,995Derivatives
Income and Expense (December 31, 2006)
Dollar figures in thousands
$23,793Total interest income
$9,907Total interest expense
$13,886Net interest income
$133Provision for loan and lease losses
$1,787Total noninterest income
$0Fiduciary activities
$743Service charges on deposit accounts
$0Trading account gains & fees
$1,044Additional noninterest income
$9,012Total noninterest expense
$5,138Salaries and employee benefits
$1,065Premises and equipment expense
$2,809Additional noninterest expense
$6,528Pre-tax net operating income
$0Securities gains (losses)
$2,169Applicable income taxes
$4,359Income before extraordinary items
$0Extraordinary gains - net
$4,359Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$44Sale, conversion, retirement of capital stock, net
$1,000Net operating income
Performance and Condition Ratios (December 31, 2006)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.83%Yield on earning assets
3.26%Cost of funding earning assets
4.57%Net interest margin
0.59%Noninterest income to earning assets
2.97%Noninterest expense to earning assets
1.30%Net operating income to assets
1.30%Return on assets (ROA)
1.95%Pretax return on assets
11.65%Return on equity (ROE)
8.97%Retained earnings to average equity (YTD only)
0.02%Net charge-offs to loans
302.27%Credit loss provision to net charge-offs
151.39%Efficiency ratio
56,186Assets per employee
3.51%Cash dividends to net income (YTD only)
Condition Ratios (%)
22.94%Loss allowance to loans
0.84%Loss allowance to noncurrent loans
63.93%Noncurrent assets plus other real estate owned to assets
1.08%Noncurrent loans to loans
1.32%Net loans and leases to deposits
99.97%Net loans and leases to core deposits
125.99%Equity capital to assets
13.34%Core capital (leverage) ratio
9.61%Tier 1 risk-based capital ratio
11.25%Total risk-based capital ratio
Memoranda
$12Average assets
$334,493Average earning assets
$37,426Average equity
$303,685Average loans
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