The Bank of Oceana in Oceana, West Virginia (WV)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of November 28, 1994

  • The Bank of Oceana in Oceana, West Virginia (WV)
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The Bank of Oceana - Overview

  • General
  • FDIC Certificate #: 20808
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: First Century Bank, Inc. (#6750)
    Federal Reserve ID: 713832
    Date Established: September 22, 1972
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Interstate: No)
    FDIC's unique #: 14374
    Numeric code: 21
    Regulator: FDIC
    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: September 22, 1972
    Last Structure Change Effective Date: November 28, 1994
    Last Structure Change Process Date: December 13, 1994
    Last Data Update: December 13, 1994
    Data Source Date: April 05, 2012
  • Location
  • Address: Main Street And Route 85, Oceana, WV 24870
    County: Wyoming
    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: $43.9 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $27Total assets
  • $44,872Cash and due from depository institutions
  • $1,501Interest-bearing balances
  • $0Securities
  • $10,707Federal funds sold & reverse repurchase agreements
  • $0Net loans & leases
  • $31,242Loan loss allowance
  • $320Trading account assets
  • $0Bank premises and fixed assets
  • $656Other real estate owned
  • $140Goodwill and other intangibles
  • $626Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $44,872Total liabilities
  • $41,148Total deposits
  • $39,664Interest-bearing deposits
  • $34,959Deposits held in domestic offices
  • 39664.00%% insured (estimated)
  • $98Federal funds purchased & repurchase agreements
  • $1,337Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $147Total equity capital
  • $147Total bank equity capital
  • $3,724Perpetual preferred stock
  • $0Common stock
  • $300Surplus
  • $467Undivided profits
  • Memoranda
  • $2,957Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $262Income earned, not collected on loans
  • $134Earning assets
  • $41,949Long-term assets (5+ years)
  • $2,678Average Assets, year-to-date
  • $44,381Average Assets, quarterly
  • $45,004Volatile liabilities
  • $2,562Insider loans
  • $2,089FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $506Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $3,724Total risk weighted assets
  • $30,873Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1993)

  • Dollar figures in thousands
  • $0Total interest income
  • $3,045Total interest expense
  • $1,313Net interest income
  • $1,732Provision for loan and lease losses
  • $55Total noninterest income
  • $247Fiduciary activities
  • $0Service charges on deposit accounts
  • $193Trading account gains & fees
  • $0Additional noninterest income
  • $54Total noninterest expense
  • $1,444Salaries and employee benefits
  • $555Premises and equipment expense
  • $187Additional noninterest expense
  • $702Pre-tax net operating income
  • $480Securities gains (losses)
  • $8Applicable income taxes
  • $94Income before extraordinary items
  • $394Extraordinary gains - net
  • $0Net income attributable to bank
  • $394Net charge-offs
  • -$15Cash dividends
  • $360Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1993)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 7.34%Cost of funding earning assets
  • 3.16%Net interest margin
  • 4.17%Noninterest income to earning assets
  • 0.60%Noninterest expense to earning assets
  • 3.48%Net operating income to assets
  • 0.87%Return on assets (ROA)
  • 0.89%Pretax return on assets
  • 1.10%Return on equity (ROE)
  • 10.35%Retained earnings to average equity (YTD only)
  • 0.89%Net charge-offs to loans
  • -0.05%Credit loss provision to net charge-offs
  • -366.67%Efficiency ratio
  • 72,966Assets per employee
  • 1.66%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 91.37%Loss allowance to loans
  • 1.01%Loss allowance to noncurrent loans
  • 122.14%Noncurrent assets plus other real estate owned to assets
  • 0.90%Noncurrent loans to loans
  • 0.83%Net loans and leases to deposits
  • 78.77%Net loans and leases to core deposits
  • 81.28%Equity capital to assets
  • 8.30%Core capital (leverage) ratio
  • 8.36%Tier 1 risk-based capital ratio
  • 12.06%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $44,381Average earning assets
  • $3,807Average equity
  • $41,508Average loans

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