Summit Community Bank in Moorefield, West Virginia (WV)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of November 12, 2004

  • Summit Community Bank in Moorefield, West Virginia (WV)
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Summit Community Bank - Overview

  • General
  • FDIC Certificate #: 844
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Summit Community Bank, Inc (#34102)
    Federal Reserve ID: 828530
    Date Established: August 19, 1920
    WWW: http://www.summitcommunitybank.com
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 4 (Interstate: No)
    OTS Docket #: 12157
    FDIC's unique #: 530
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: Yes
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: November 12, 2004
    Last Structure Change Process Date: December 22, 2004
    Last Data Update: December 22, 2004
    Data Source Date: April 05, 2012
  • Location
  • Address: 310 N. Main Street, Moorefield, WV 26836
    County: Hardy
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Scott Depot
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
  • Financial Summary
  • Total assets: $403.1 mil

1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2003)

  • Dollar figures in thousands
  • 58Total employees (full-time equivalent)
  • $385,494Total assets
  • $6,269Cash and due from depository institutions
  • $1,043Interest-bearing balances
  • $102,432Securities
  • $2,104Federal funds sold & reverse repurchase agreements
  • $257,876Net loans & leases
  • $2,417Loan loss allowance
  • $0Trading account assets
  • $4,095Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $12,718All other assets
  • $385,494Total liabilities and capital
  • $358,321Total liabilities
  • $214,425Total deposits
  • $187,518Interest-bearing deposits
  • $214,425Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $5,929Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $135,845Other borrowed funds
  • $0Subordinated debt
  • $2,122All other liabilities
  • $27,173Total equity capital
  • $27,173Total bank equity capital
  • $27,173Perpetual preferred stock
  • $0Common stock
  • $2,100Surplus
  • $1,912Undivided profits
  • Memoranda
  • $23,161Noncurrent loans and leases
  • $42,531Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $589Earning assets
  • $0Long-term assets (5+ years)
  • $1,874Average Assets, year-to-date
  • $363,455Average Assets, quarterly
  • $218,872Volatile liabilities
  • $361,649Insider loans
  • $375,361FHLB advances
  • $83,384Loans and leases held for sale
  • $14,588Unused loan commitments
  • $135,845Tier 1 (core) risk-based capital
  • $29,424Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $42,531Total unused commitments
  • $0Restructured Loans and leases
  • $2,417Derivatives

Income and Expense (December 31, 2003)

  • Dollar figures in thousands
  • $22,043Total interest income
  • $9,119Total interest expense
  • $12,924Net interest income
  • $285Provision for loan and lease losses
  • $1,435Total noninterest income
  • $0Fiduciary activities
  • $663Service charges on deposit accounts
  • $0Trading account gains & fees
  • $772Additional noninterest income
  • $6,313Total noninterest expense
  • $2,412Salaries and employee benefits
  • $490Premises and equipment expense
  • $3,411Additional noninterest expense
  • $7,761Pre-tax net operating income
  • $155Securities gains (losses)
  • $2,469Applicable income taxes
  • $5,447Income before extraordinary items
  • $0Extraordinary gains - net
  • $5,447Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $76Sale, conversion, retirement of capital stock, net
  • $2,800Net operating income

Performance and Condition Ratios (December 31, 2003)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.48%Yield on earning assets
  • 2.68%Cost of funding earning assets
  • 3.80%Net interest margin
  • 0.42%Noninterest income to earning assets
  • 1.86%Noninterest expense to earning assets
  • 1.48%Net operating income to assets
  • 1.51%Return on assets (ROA)
  • 2.19%Pretax return on assets
  • 20.52%Return on equity (ROE)
  • 9.97%Retained earnings to average equity (YTD only)
  • 0.03%Net charge-offs to loans
  • 375.00%Credit loss provision to net charge-offs
  • 105.87%Efficiency ratio
  • 43,965Assets per employee
  • 6.65%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 51.40%Loss allowance to loans
  • 0.93%Loss allowance to noncurrent loans
  • 410.36%Noncurrent assets plus other real estate owned to assets
  • 0.15%Noncurrent loans to loans
  • 0.23%Net loans and leases to deposits
  • 120.26%Net loans and leases to core deposits
  • 152.15%Equity capital to assets
  • 7.05%Core capital (leverage) ratio
  • 6.98%Tier 1 risk-based capital ratio
  • 10.02%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $361,649Average earning assets
  • $26,551Average equity
  • $339,913Average loans

Total Fiduciary and Related Assets (December 31, 2003)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $980Managed Assets
  • 1Number of Accounts
  • $980Personal trust and agency accounts
  • $980Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 8Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

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