Shenandoah Valley National Bank in Winchester, Virginia (VA)

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Shenandoah Valley National Bank
GeneralFDIC Certificate #: 35107
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Summit Community Bank, Inc (#34102)
Federal Reserve ID: 2777472
Date Established: May 17, 1999
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 7 (Interstate: No)
FDIC's unique #: 74896
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: No
Date of Deposit Insurance: May 17, 1999
Last Structure Change Effective Date: June 16, 2007
Last Structure Change Process Date: June 26, 2007
Last Data Update: June 26, 2007
Data Source Date: April 05, 2012
LocationAddress: 100 Jubal Early Drive, Winchester, VA 22601
County: Winchester 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
Combined Statistical Area (CSA): Washington-Baltimore-Northern Virginia, DC-MD-VA-WV (#548)
Core Based Statistical Area (CBSA): Winchester, VA-WV (#49020)
CBSA Metro Statistical Area: Winchester, VA-WV (#49020)
Financial SummaryTotal assets: $482.7 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)
Total employees (full-time equivalent)128
Total assets$475,197
Cash and due from depository institutions$5,525
Interest-bearing balances$216
Federal funds sold & reverse repurchase agreements$4,591
Net loans & leases$367,111
Loan loss allowance $3,518
Trading account assets$0
Bank premises and fixed assets$7,458
Other real estate owned$75
Goodwill and other intangibles$0
All other assets$10,788
Life insurance assets$2,028
Total liabilities and capital$475,197
Total liabilities$437,523
Total deposits$386,495
Interest-bearing deposits$364,593
Deposits held in domestic offices$386,495
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $214
Trading liabilities$0
Other borrowed funds $46,393
Subordinated debt $0
All other liabilities $4,421
Total equity capital$37,674
Total bank equity capital$37,674
Perpetual preferred stock$37,674
Common stock$0
Undivided profits $18,225
Noncurrent loans and leases $13,374
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $57,422
Income earned, not collected on loans $0
Earning assets $2,176
Long-term assets (5+ years) $0
Average Assets, year-to-date $2,422
Average Assets, quarterly $451,567
Volatile liabilities $124,304
Insider loans $437,122
FHLB advances $469,588
Loans and leases held for sale $170,497
Unused loan commitments $15,829
Tier 1 (core) risk-based capital $46,393
Tier 2 risk-based capital $13,184
Total risk weighted assets $8,429
Total unused commitments $57,422
Restructured Loans and leases $0
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Income and Expense (December 31, 2006)
(Dollar figures in thousands)
Total interest income $31,300
Total interest expense $16,246
Net interest income $15,054
Provision for loan and lease losses $1,715
Total noninterest income $20,472
Fiduciary activities $0
Service charges on deposit accounts $519
Trading account gains & fees $0
Additional noninterest income $19,953
Total noninterest expense $32,634
Salaries and employee benefits $10,241
Premises and equipment expense $2,045
Additional noninterest expense $20,348
Pre-tax net operating income $1,177
Securities gains (losses) $0
Applicable income taxes $264
Income before extraordinary items $913
Extraordinary gains - net $0
Net income attributable to bank $913
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $288
Net operating income $0
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Performance and Condition Ratios (December 31, 2006)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets7.59%
Cost of funding earning assets 3.94%
Net interest margin 3.65%
Noninterest income to earning assets 4.96%
Noninterest expense to earning assets 7.91%
Net operating income to assets 0.21%
Return on assets (ROA) 0.21%
Pretax return on assets 0.27%
Return on equity (ROE) 2.55%
Retained earnings to average equity (YTD only) 2.55%
Net charge-offs to loans 0.08%
Credit loss provision to net charge-offs 595.49%
Efficiency ratio10.04%
Assets per employee$91,859
Cash dividends to net income (YTD only)3.71%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 0.95%
Noncurrent assets plus other real estate owned to assets 161.67%
Noncurrent loans to loans 0.47%
Net loans and leases to deposits0.59%
Net loans and leases to core deposits 94.98%
Equity capital to assets 145.86%
Core capital (leverage) ratio 7.93%
Tier 1 risk-based capital ratio 8.02%
Total risk-based capital ratio 9.93%
Average assets$11
Average earning assets$437,122
Average equity $35,741
Average loans $412,487
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