Select Bank in Forest, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches


Select Bank - Overview

  • General
  • FDIC Certificate #: 58563
    Status: Active
    Federal Reserve ID: 3567269
    Date Established: June 04, 2007
    WWW: http://www.myselectbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 456799
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: June 04, 2007
    Last Structure Change Effective Date: January 19, 2009
    Last Structure Change Process Date: January 23, 2009
    Last Data Update: January 23, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 211 Gristmill Drive, Forest, VA 24551
    County: Bedford
    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): Lynchburg, VA (#4640)
    Core Based Statistical Area (CBSA): Lynchburg, VA (#31340)
    CBSA Metro Statistical Area: Lynchburg, VA (#31340)
  • History of Changes
  • Change in Location
  • Financial Summary
  • Total assets: $103.4 mil
    Equity capital: $10.9 mil
    Deposits held in domestic offices: $92.4 mil
    Return on assets (ROA): 0.30% ($0.3 mil)
    Quarterly return on assets: 0.30% ($0.3 mil)
    Return on Equity (ROE): 2.93% ($0.3 mil)
    Quarterly return on equity: 2.88% ($0.3 mil)
    Net income: $0.3 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: 0.47% ($486.2 mil)
    Quarterly Pretax return on assets: 0.46% ($475.8 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, 2011)

  • Dollar figures in thousands
  • 26Total employees (full-time equivalent)
  • $103,441Total assets
  • $5,191Cash and due from depository institutions
  • $4,207Interest-bearing balances
  • $515Securities
  • $5Federal funds sold & reverse repurchase agreements
  • $89,425Net loans & leases
  • $1,381Loan loss allowance
  • $0Trading account assets
  • $4,204Bank premises and fixed assets
  • $824Other real estate owned
  • $0Goodwill and other intangibles
  • $103,441Life insurance assets
  • $3,277All other assets
  • $92,554Total liabilities and capital
  • $92,356Total liabilities
  • $85,101Total deposits
  • $92,356Interest-bearing deposits
  • $88Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $198Subordinated debt
  • $10,887All other liabilities
  • $10,887Total equity capital
  • $10,887Total bank equity capital
  • $0Perpetual preferred stock
  • $7,149Common stock
  • $7,980Surplus
  • $-4,242Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,161Income earned, not collected on loans
  • $0Earning assets
  • $342Long-term assets (5+ years)
  • $94,152Average Assets, year-to-date
  • $4,152Average Assets, quarterly
  • $103,144Volatile liabilities
  • $104,638Insider loans
  • $85,273FHLB advances
  • $104,869Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $9,324Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $10,460Restructured Loans and leases
  • $4,360Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,285Total interest income
  • $1,635Total interest expense
  • $3,650Net interest income
  • $200Provision for loan and lease losses
  • $386Total noninterest income
  • $0Fiduciary activities
  • $100Service charges on deposit accounts
  • $0Trading account gains & fees
  • $286Additional noninterest income
  • $3,356Total noninterest expense
  • $1,767Salaries and employee benefits
  • $421Premises and equipment expense
  • $1,168Additional noninterest expense
  • $480Pre-tax net operating income
  • $0Securities gains (losses)
  • $166Applicable income taxes
  • $314Income before extraordinary items
  • $0Extraordinary gains - net
  • $314Net income attributable to bank
  • $0Net charge-offs
  • $314Cash dividends
  • $328Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.65%Yield on earning assets
  • 1.75%Cost of funding earning assets
  • 3.90%Net interest margin
  • 0.41%Noninterest income to earning assets
  • 3.59%Noninterest expense to earning assets
  • 0.30%Net operating income to assets
  • 0.30%Return on assets (ROA)
  • 0.47%Pretax return on assets
  • 2.93%Return on equity (ROE)
  • 2.93%Retained earnings to average equity (YTD only)
  • 0.37%Net charge-offs to loans
  • 60.98%Credit loss provision to net charge-offs
  • 2.07%Efficiency ratio
  • 83,152Assets per employee
  • 3.98%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.52%Loss allowance to noncurrent loans
  • 63.91%Noncurrent assets plus other real estate owned to assets
  • 2.89%Noncurrent loans to loans
  • 2.38%Net loans and leases to deposits
  • 96.83%Net loans and leases to core deposits
  • 122.00%Equity capital to assets
  • 10.52%Core capital (leverage) ratio
  • 8.89%Tier 1 risk-based capital ratio
  • 10.93%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $103,144Average earning assets
  • $10,724Average equity
  • $93,570Average loans

List of branches

  • 2 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0456799Select Bank211 Gristmill Drive, Forest, VA 24551June 04, 2007Full Service Brick and Mortar
    1492925Timberlake Office Branch7113 Timberlake Road, Lynchburg, VA 24502December 10, 2007Full Service Brick and Mortar

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