The Bank of Charlotte County in Phenix, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches


The Bank of Charlotte County - Overview

  • General
  • FDIC Certificate #: 14491
    Status: Active
    Federal Reserve ID: 667524
    Bank Holding Company (Regulatory Top Holder): Bcc Bankshares, Inc. (RSSDID: 2835680, Location: Phenix, VA)
    Date Established: November 12, 1912
    WWW: http://www.bankofcharlotte.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 4 (Domestic: 4, Interstate: No)
    OTS Docket #: 14157
    FDIC's unique #: 9054
    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: All Other Specialization < 1 Billion
    Date of Deposit Insurance: June 20, 1934
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: Berkley And Charlotte Streets, Phenix, VA 23959
    County: Charlotte
    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
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $121.0 mil
    Equity capital: $16.3 mil
    Deposits held in domestic offices: $99.5 mil
    Return on assets (ROA): 1.12% ($1.4 mil)
    Quarterly return on assets: 1.13% ($1.4 mil)
    Return on Equity (ROE): 8.22% ($1.3 mil)
    Quarterly return on equity: 8.14% ($1.3 mil)
    Net income: $1.3 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 1.49% ($1,803.3 mil)
    Quarterly Pretax return on assets: 1.44% ($1,742.8 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, 2011)

  • Dollar figures in thousands
  • 30Total employees (full-time equivalent)
  • $121,029Total assets
  • $2,741Cash and due from depository institutions
  • $521Interest-bearing balances
  • $22,847Securities
  • $11,153Federal funds sold & reverse repurchase agreements
  • $80,546Net loans & leases
  • $1,423Loan loss allowance
  • $0Trading account assets
  • $678Bank premises and fixed assets
  • $655Other real estate owned
  • $0Goodwill and other intangibles
  • $121,029Life insurance assets
  • $2,409All other assets
  • $104,705Total liabilities and capital
  • $99,485Total liabilities
  • $80,430Total deposits
  • $99,485Interest-bearing deposits
  • $92Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $5,000Trading liabilities
  • $0Other borrowed funds
  • $220Subordinated debt
  • $16,324All other liabilities
  • $16,324Total equity capital
  • $16,324Total bank equity capital
  • $0Perpetual preferred stock
  • $150Common stock
  • $529Surplus
  • $15,645Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,958Income earned, not collected on loans
  • $0Earning assets
  • $939Long-term assets (5+ years)
  • $115,067Average Assets, year-to-date
  • $53,716Average Assets, quarterly
  • $118,867Volatile liabilities
  • $119,714Insider loans
  • $86,138FHLB advances
  • $118,573Loans and leases held for sale
  • $225Unused loan commitments
  • $225Tier 1 (core) risk-based capital
  • $15,518Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $8,474Restructured Loans and leases
  • $1,096Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,611Total interest income
  • $1,616Total interest expense
  • $4,995Net interest income
  • $240Provision for loan and lease losses
  • $479Total noninterest income
  • $0Fiduciary activities
  • $242Service charges on deposit accounts
  • $0Trading account gains & fees
  • $237Additional noninterest income
  • $3,503Total noninterest expense
  • $1,954Salaries and employee benefits
  • $349Premises and equipment expense
  • $1,200Additional noninterest expense
  • $1,731Pre-tax net operating income
  • $40Securities gains (losses)
  • $445Applicable income taxes
  • $1,326Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,326Net income attributable to bank
  • $0Net charge-offs
  • $1,326Cash dividends
  • $261Sale, conversion, retirement of capital stock, net
  • $800Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.89%Yield on earning assets
  • 1.44%Cost of funding earning assets
  • 4.45%Net interest margin
  • 0.43%Noninterest income to earning assets
  • 3.12%Noninterest expense to earning assets
  • 1.09%Net operating income to assets
  • 1.12%Return on assets (ROA)
  • 1.49%Pretax return on assets
  • 8.22%Return on equity (ROE)
  • 3.26%Retained earnings to average equity (YTD only)
  • 0.32%Net charge-offs to loans
  • 91.95%Credit loss provision to net charge-offs
  • 7.55%Efficiency ratio
  • 63,993Assets per employee
  • 4.03%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 60.33%Loss allowance to loans
  • 1.74%Loss allowance to noncurrent loans
  • 72.68%Noncurrent assets plus other real estate owned to assets
  • 2.16%Noncurrent loans to loans
  • 2.39%Net loans and leases to deposits
  • 80.96%Net loans and leases to core deposits
  • 82.03%Equity capital to assets
  • 13.49%Core capital (leverage) ratio
  • 13.09%Tier 1 risk-based capital ratio
  • 18.02%Total risk-based capital ratio
  • Memoranda
  • $19Average assets
  • $118,867Average earning assets
  • $16,131Average equity
  • $112,175Average loans

List of branches

  • 4 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    09054The Bank Of Charlotte CountyBerkley And Charlotte Streets, Phenix, VA 23959November 12, 1912Full Service Brick and Mortar
    1231554Charlotte Court House BranchRoutes 40 And 47, Charlotte Court House, VA 23923July 20, 1967Full Service Brick and Mortar
    2231555Keysville Branch26 King Street, Keysville, VA 23947September 21, 1979Full Service Brick and Mortar
    3231556Brookneal BranchWater Street And Lynchburg Avenue, Brookneal, VA 24528November 01, 1988Full Service Brick and Mortar

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