Signet Bank in Richmond, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of November 29, 1997

  • Signet Bank in Richmond, Virginia (VA)
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Signet Bank - Overview

  • General
  • FDIC Certificate #: 11589
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: First Union National Bank (#4885)
    Federal Reserve ID: 460024
    Date Established: July 17, 1922
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 246 (Interstate: No)
    FDIC's unique #: 7404
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Oakar Institutions: Yes
    State Chartered: Yes
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: November 29, 1997
    Last Structure Change Process Date: December 18, 1997
    Last Data Update: December 18, 1997
    Data Source Date: April 05, 2012
  • Location
  • Address: 800 East Main Street, Richmond, VA 23219
    County: Richmond 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): Richmond-Petersburg, VA (#6760)
    Core Based Statistical Area (CBSA): Richmond, VA (#40060)
    CBSA Metro Statistical Area: Richmond, VA (#40060)
  • Financial Summary
  • Total assets: $11,312.2 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $4,054Total assets
  • $11,670,381Cash and due from depository institutions
  • $606,445Interest-bearing balances
  • $16,184Securities
  • $2,622,497Federal funds sold & reverse repurchase agreements
  • $777,999Net loans & leases
  • $6,320,732Loan loss allowance
  • $136,707Trading account assets
  • $557,238Bank premises and fixed assets
  • $180,763Other real estate owned
  • $10,497Goodwill and other intangibles
  • $474,940Life insurance assets
  • $119,270All other assets
  • $0Total liabilities and capital
  • $11,670,381Total liabilities
  • $10,826,183Total deposits
  • $8,081,167Interest-bearing deposits
  • $6,291,257Deposits held in domestic offices
  • 8037900.00%% insured (estimated)
  • $69Federal funds purchased & repurchase agreements
  • $1,861,084Trading liabilities
  • $5,800Other borrowed funds
  • $198,624Subordinated debt
  • $150,000All other liabilities
  • $529,508Total equity capital
  • $529,508Total bank equity capital
  • $844,198Perpetual preferred stock
  • $0Common stock
  • $68,242Surplus
  • $429,354Undivided profits
  • Memoranda
  • $346,602Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $99,787Income earned, not collected on loans
  • $60,295Earning assets
  • $10,283,593Long-term assets (5+ years)
  • $3,709,057Average Assets, year-to-date
  • $11,654,456Average Assets, quarterly
  • $11,559,974Volatile liabilities
  • $3,476,922Insider loans
  • $123,957FHLB advances
  • $0Loans and leases held for sale
  • $102,528Unused loan commitments
  • $4,655,903Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $800,398Total risk weighted assets
  • $7,868,508Total unused commitments
  • $0Restructured Loans and leases
  • $4,892,919Derivatives

Income and Expense (December 31, 1996)

  • Dollar figures in thousands
  • $0Total interest income
  • $833,437Total interest expense
  • $360,362Net interest income
  • $473,075Provision for loan and lease losses
  • $73,851Total noninterest income
  • $235,948Fiduciary activities
  • $0Service charges on deposit accounts
  • $71,804Trading account gains & fees
  • $28,078Additional noninterest income
  • $136,066Total noninterest expense
  • $461,139Salaries and employee benefits
  • $232,964Premises and equipment expense
  • $60,240Additional noninterest expense
  • $167,935Pre-tax net operating income
  • $174,033Securities gains (losses)
  • $5,013Applicable income taxes
  • $60,350Income before extraordinary items
  • $118,696Extraordinary gains - net
  • $0Net income attributable to bank
  • $118,696Net charge-offs
  • $66,846Cash dividends
  • $56,088Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1996)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 8.21%Cost of funding earning assets
  • 3.55%Net interest margin
  • 4.66%Noninterest income to earning assets
  • 2.32%Noninterest expense to earning assets
  • 4.54%Net operating income to assets
  • 0.99%Return on assets (ROA)
  • 1.02%Pretax return on assets
  • 1.54%Return on equity (ROE)
  • 14.76%Retained earnings to average equity (YTD only)
  • 7.79%Net charge-offs to loans
  • 1.04%Credit loss provision to net charge-offs
  • 110.48%Efficiency ratio
  • 62,723Assets per employee
  • 2.88%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 47.25%Loss allowance to loans
  • 2.12%Loss allowance to noncurrent loans
  • 137.00%Noncurrent assets plus other real estate owned to assets
  • 0.94%Noncurrent loans to loans
  • 1.55%Net loans and leases to deposits
  • 78.22%Net loans and leases to core deposits
  • 94.85%Equity capital to assets
  • 7.23%Core capital (leverage) ratio
  • 6.93%Tier 1 risk-based capital ratio
  • 10.17%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $11,654,456Average earning assets
  • $803,972Average equity
  • $10,150,862Average loans

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