The Bank of Marion in Marion, Virginia (VA), TN
Overview, Financial Summary, Detailed Financial Reports, Branches


The Bank of Marion - Overview

  • General
  • FDIC Certificate #: 9507
    Status: Active
    Federal Reserve ID: 858528
    Bank Holding Company (Regulatory Top Holder): Southwest Virginia Bankshares, Inc. (RSSDID: 1132391, Location: Marion, VA)
    Date Established: April 13, 1874
    WWW: http://www.bankofmarionva.com
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 15 (Domestic: 15, Interstate: Yes)
    OTS Docket #: 11657
    FDIC's unique #: 6107
    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: January 01, 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: 102 West Main Street, Marion, VA 24354
    County: Smyth
    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: $348.9 mil
    Equity capital: $36.8 mil
    Deposits held in domestic offices: $303.5 mil
    Return on assets (ROA): 0.68% ($2.4 mil)
    Quarterly return on assets: 0.27% ($0.9 mil)
    Return on Equity (ROE): 6.55% ($2.4 mil)
    Quarterly return on equity: 2.56% ($0.9 mil)
    Net income: $2.4 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 0.94% ($3,280.1 mil)
    Quarterly Pretax return on assets: 0.56% ($1,954.1 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, 2011)

  • Dollar figures in thousands
  • 114Total employees (full-time equivalent)
  • $348,943Total assets
  • $57,825Cash and due from depository institutions
  • $49,791Interest-bearing balances
  • $68,201Securities
  • $1,222Federal funds sold & reverse repurchase agreements
  • $200,212Net loans & leases
  • $4,047Loan loss allowance
  • $0Trading account assets
  • $5,090Bank premises and fixed assets
  • $90Other real estate owned
  • $569Goodwill and other intangibles
  • $348,943Life insurance assets
  • $15,734All other assets
  • $312,126Total liabilities and capital
  • $303,471Total liabilities
  • $250,728Total deposits
  • $303,471Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $6,600Trading liabilities
  • $0Other borrowed funds
  • $2,055Subordinated debt
  • $36,817All other liabilities
  • $36,817Total equity capital
  • $36,817Total bank equity capital
  • $0Perpetual preferred stock
  • $1,000Common stock
  • $500Surplus
  • $35,317Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $6,114Income earned, not collected on loans
  • $0Earning assets
  • $1,737Long-term assets (5+ years)
  • $319,426Average Assets, year-to-date
  • $94,319Average Assets, quarterly
  • $346,463Volatile liabilities
  • $346,060Insider loans
  • $196,043FHLB advances
  • $341,640Loans and leases held for sale
  • $8,948Unused loan commitments
  • $8,601Tier 1 (core) risk-based capital
  • $34,548Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $347Total unused commitments
  • $27,158Restructured Loans and leases
  • $2,451Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $14,282Total interest income
  • $2,873Total interest expense
  • $11,409Net interest income
  • $750Provision for loan and lease losses
  • $2,338Total noninterest income
  • $5Fiduciary activities
  • $1,161Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,172Additional noninterest income
  • $9,648Total noninterest expense
  • $5,170Salaries and employee benefits
  • $1,414Premises and equipment expense
  • $3,064Additional noninterest expense
  • $3,349Pre-tax net operating income
  • -$86Securities gains (losses)
  • $894Applicable income taxes
  • $2,369Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,369Net income attributable to bank
  • $0Net charge-offs
  • $2,369Cash dividends
  • $634Sale, conversion, retirement of capital stock, net
  • $1,800Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.52%Yield on earning assets
  • 0.91%Cost of funding earning assets
  • 3.61%Net interest margin
  • 0.74%Noninterest income to earning assets
  • 3.06%Noninterest expense to earning assets
  • 0.70%Net operating income to assets
  • 0.68%Return on assets (ROA)
  • 0.94%Pretax return on assets
  • 6.55%Return on equity (ROE)
  • 1.57%Retained earnings to average equity (YTD only)
  • 0.30%Net charge-offs to loans
  • 118.30%Credit loss provision to net charge-offs
  • 6.47%Efficiency ratio
  • 67,629Assets per employee
  • 3.06%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 75.98%Loss allowance to loans
  • 1.98%Loss allowance to noncurrent loans
  • 66.19%Noncurrent assets plus other real estate owned to assets
  • 1.78%Noncurrent loans to loans
  • 2.99%Net loans and leases to deposits
  • 65.97%Net loans and leases to core deposits
  • 70.93%Equity capital to assets
  • 10.55%Core capital (leverage) ratio
  • 10.11%Tier 1 risk-based capital ratio
  • 17.62%Total risk-based capital ratio
  • Memoranda
  • $19Average assets
  • $346,463Average earning assets
  • $36,181Average equity
  • $315,771Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $3,138Managed Assets
  • 1Number of Accounts
  • $3,138Personal trust and agency accounts
  • $3,138Employee 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
  • 20Number 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

List of branches

  • 1 Tennessee Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    13453297Boones Creek Branch2867 Boones Creek Road, Johnson City, TN 37615August 12, 2005Full Service Brick and Mortar
  • 14 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    06107The Bank Of Marion102 West Main Street, Marion, VA 24354April 13, 1874Full Service Brick and Mortar
    1220289Royal Oak Branch1600 North Main Street, Marion, VA 24354June 01, 1971Full Service Brick and Mortar
    2220290Washington Avenue BranchU.S. Hwy. 11 West & Washington Ave., Marion, VA 24354October 02, 1981Full Service Brick and Mortar
    3220291Chilhowie BranchU.S. Highway 11, Chilhowie, VA 24319May 26, 1987Full Service Brick and Mortar
    4220292Glade Spring Branch656 South Monte Vista Drive, Glade Spring, VA 24340November 26, 1990Full Service Brick and Mortar
    5220293Rural Retreat BranchState Route 90 East, Rural Retreat, VA 24368December 04, 1995Full Service Brick and Mortar
    6220294Saltville Branch101 Bank St, Saltville, VA 24370January 11, 1999Full Service Brick and Mortar
    7225096Honaker Branch702 Fairmont Avenue, Honaker, VA 24260December 02, 1968Full Service Brick and Mortar
    813493Weber City BranchU.S. Highway 23 North And Legion Street, Weber City, VA 24290March 20, 1967Full Service Brick and Mortar
    9249253Gate City Branch196 East Jackson Street, Gate City, VA 24251November 03, 1971Full Service Brick and Mortar
    10362143Mountain Empire Loan And Finan. Ser.787 Fort Chiswell Road, Suite 7, Max Meadows, VA 24360August 16, 2000Full Service Brick and Mortar
    12430178Damascus Branch744 Beaver Dam Avenue, Suite A, Damascus, VA 24236December 16, 2003Full Service Brick and Mortar
    14493354Abingdon Branch201 Valley Street, Abingdon, VA 24210September 02, 2008Full Service Brick and Mortar
    15493355Bristol Branch2975 Lee Highway, Bristol, VA 24202September 19, 2008Full Service Brick and Mortar

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