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Select Bank in Forest, Virginia (VA)
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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

No	ID	Name	Address	Established	Service Type	Map
0	456799	Select Bank	211 Gristmill Drive, Forest, VA 24551	June 04, 2007	Full Service Brick and Mortar
1	492925	Timberlake Office Branch	7113 Timberlake Road, Lynchburg, VA 24502	December 10, 2007	Full Service Brick and Mortar

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

Select Bank - Overview

Assets and Liabilities (December 31, 2011)

Income and Expense (December 31, 2011)

Performance and Condition Ratios (December 31, 2011)

List of branches

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

Select Bank - Overview

Assets and Liabilities (December 31, 2011)

Income and Expense (December 31, 2011)

Performance and Condition Ratios (December 31, 2011)

List of branches

Comment about this bank, ask questions, or add new information about it:

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