Seaboard Savings Bank, F.S.B. in Virginia Beach, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of January 31, 1996

  • Seaboard Savings Bank, F.S.B. in Virginia Beach, Virginia (VA)
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Seaboard Savings Bank, F.S.B. - Overview

  • General
  • FDIC Certificate #: 31912
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Life Savings Bank, FSB (#29560)
    Federal Reserve ID: 854874
    Date Established: December 06, 1977
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 7596
    FDIC's unique #: 44746
    Numeric code: 33
    Regulator: OTS
    Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
    FDIC Insured: Yes
    SAIF Insured: Yes
    Insured Savings Institution: Yes
    State Chartered: No
    Date of Deposit Insurance: December 06, 1977
    Last Structure Change Effective Date: January 31, 1996
    Last Structure Change Process Date: March 15, 1996
    Last Data Update: March 15, 1996
    Data Source Date: April 05, 2012
  • Location
  • Address: 501 South Independence Blvd., Virginia Beach, VA 23452
    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: $81.9 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $30Total assets
  • $81,886Cash and due from depository institutions
  • $1,981Interest-bearing balances
  • $368Securities
  • $8,049Federal funds sold & reverse repurchase agreements
  • $0Net loans & leases
  • $69,050Loan loss allowance
  • $3,240Trading account assets
  • $0Bank premises and fixed assets
  • $1,051Other real estate owned
  • $108Goodwill and other intangibles
  • $1,647Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $81,886Total liabilities
  • $75,561Total deposits
  • $67,270Interest-bearing deposits
  • $66,091Deposits held in domestic offices
  • 67270.00%% insured (estimated)
  • $99Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $8,100Subordinated debt
  • $0All other liabilities
  • $191Total equity capital
  • $191Total bank equity capital
  • $6,325Perpetual preferred stock
  • $0Common stock
  • $1Surplus
  • $10,655Undivided profits
  • Memoranda
  • $-4,331Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $903Income earned, not collected on loans
  • $473Earning assets
  • $77,467Long-term assets (5+ years)
  • $0Average Assets, year-to-date
  • $83,605Average Assets, quarterly
  • $82,852Volatile liabilities
  • $10,379Insider loans
  • $202FHLB advances
  • $8,100Loans and leases held for sale
  • $0Unused loan commitments
  • $1,659Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $6,325Total risk weighted assets
  • $57,913Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1995)

  • Dollar figures in thousands
  • $0Total interest income
  • $6,283Total interest expense
  • $4,062Net interest income
  • $2,221Provision for loan and lease losses
  • $0Total noninterest income
  • $249Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $0Additional noninterest income
  • $249Total noninterest expense
  • $1,948Salaries and employee benefits
  • $875Premises and equipment expense
  • $370Additional noninterest expense
  • $703Pre-tax net operating income
  • $522Securities gains (losses)
  • $2Applicable income taxes
  • -$22Income before extraordinary items
  • $546Extraordinary gains - net
  • $0Net income attributable to bank
  • $546Net charge-offs
  • -$79Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1995)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 7.95%Cost of funding earning assets
  • 5.14%Net interest margin
  • 2.81%Noninterest income to earning assets
  • 0.31%Noninterest expense to earning assets
  • 2.46%Net operating income to assets
  • 0.65%Return on assets (ROA)
  • 0.65%Pretax return on assets
  • 0.63%Return on equity (ROE)
  • 9.00%Retained earnings to average equity (YTD only)
  • 9.00%Net charge-offs to loans
  • -0.11%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 78,016Assets per employee
  • 2.73%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 4.48%Loss allowance to noncurrent loans
  • 358.80%Noncurrent assets plus other real estate owned to assets
  • 1.23%Noncurrent loans to loans
  • 1.25%Net loans and leases to deposits
  • 102.65%Net loans and leases to core deposits
  • 106.25%Equity capital to assets
  • 7.72%Core capital (leverage) ratio
  • 7.72%Tier 1 risk-based capital ratio
  • 10.92%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $83,605Average earning assets
  • $6,066Average equity
  • $79,056Average loans

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