The Bank of Romney in Romney, West Virginia (WV)

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The Bank of Romney
GeneralFDIC Certificate #: 845
Status: Active
Federal Reserve ID: 722432
Bank Holding Company (Regulatory Top Holder): Romney Bankshares, Inc. (RSSDID: 1417324, Location: Romney, WV)
Date Established: January 01, 1888
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 6 (Domestic: 6, Interstate: No)
OTS Docket #: 15580
FDIC's unique #: 531
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: Mortgage Lending Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: May 04, 2010
Last Data Update: May 04, 2010
Data Source Date: April 05, 2012
LocationAddress: 95 East Main Street, Romney, WV 26757
County: Hampshire
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
Combined Statistical Area (CSA): Washington-Baltimore-Northern Virginia, DC-MD-VA-WV (#548)
Core Based Statistical Area (CBSA): Winchester, VA-WV (#49020)
CBSA Metro Statistical Area: Winchester, VA-WV (#49020)
History of ChangesMerge BIF and SAIF Funds into DIF
Change in Location
Financial SummaryTotal assets: $245.9 mil
Equity capital: $24.6 mil
Deposits held in domestic offices: $192.7 mil
Return on assets (ROA): 0.66% ($1.6 mil)
Quarterly return on assets: 0.68% ($1.7 mil)
Return on Equity (ROE): 6.39% ($1.6 mil)
Quarterly return on equity: 6.61% ($1.7 mil)
Net income: $1.6 mil
Quarterly Net income: $0.4 mil
Pretax return on assets: 0.94% ($2,311.8 mil)
Quarterly Pretax return on assets: 1.07% ($2,631.5 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)
Total employees (full-time equivalent)87
Total assets$245,932
Cash and due from depository institutions$6,163
Interest-bearing balances$3,967
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$173,714
Loan loss allowance $2,490
Trading account assets$0
Bank premises and fixed assets$5,136
Other real estate owned$2,698
Goodwill and other intangibles$0
All other assets$12,459
Life insurance assets$245,932
Total liabilities and capital$221,355
Total liabilities$192,677
Total deposits$163,164
Interest-bearing deposits$192,677
Deposits held in domestic offices$98
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$25,327
Other borrowed funds $0
Subordinated debt $3,351
All other liabilities $24,577
Total equity capital$24,577
Total bank equity capital$24,577
Perpetual preferred stock$0
Common stock$100
Undivided profits $22,977
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $258
Income earned, not collected on loans $5,034
Earning assets $0
Long-term assets (5+ years) $918
Average Assets, year-to-date $223,443
Average Assets, quarterly $91,877
Volatile liabilities $243,318
Insider loans $245,910
FHLB advances $154,747
Loans and leases held for sale $246,743
Unused loan commitments $6,838
Tier 1 (core) risk-based capital $4,075
Tier 2 risk-based capital $26,851
Total risk weighted assets $0
Total unused commitments $2,763
Restructured Loans and leases $9,986
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $12,812
Total interest expense $3,452
Net interest income $9,360
Provision for loan and lease losses $1,200
Total noninterest income $1,675
Fiduciary activities $0
Service charges on deposit accounts $875
Trading account gains & fees $0
Additional noninterest income $800
Total noninterest expense $7,635
Salaries and employee benefits $4,587
Premises and equipment expense $1,063
Additional noninterest expense $1,985
Pre-tax net operating income $2,200
Securities gains (losses) $99
Applicable income taxes $700
Income before extraordinary items $1,599
Extraordinary gains - net $0
Net income attributable to bank $1,599
Net charge-offs $0
Cash dividends $1,599
Sale, conversion, retirement of capital stock, net $1,337
Net operating income $1,100
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.78%
Cost of funding earning assets 1.56%
Net interest margin 4.22%
Noninterest income to earning assets 0.76%
Noninterest expense to earning assets 3.44%
Net operating income to assets 0.63%
Return on assets (ROA) 0.66%
Pretax return on assets 0.94%
Return on equity (ROE) 6.39%
Retained earnings to average equity (YTD only) 1.99%
Net charge-offs to loans 0.75%
Credit loss provision to net charge-offs 89.75%
Efficiency ratio2.54%
Assets per employee$69,189
Cash dividends to net income (YTD only)2.83%
Condition Ratios (%)
Loss allowance to loans 68.79%
Loss allowance to noncurrent loans 1.41%
Noncurrent assets plus other real estate owned to assets 49.46%
Noncurrent loans to loans 3.14%
Net loans and leases to deposits2.86%
Net loans and leases to core deposits 90.16%
Equity capital to assets 103.65%
Core capital (leverage) ratio 9.99%
Tier 1 risk-based capital ratio 10.88%
Total risk-based capital ratio 17.35%
Average assets$19
Average earning assets$243,318
Average equity $25,036
Average loans $221,800
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6 West Virginia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0531The Bank Of Romney95 East Main Street, Romney, WV 26757January 01, 1888Full Service Brick and Mortar
1186145Capon Bridge BranchMain Street, Capon Bridge, WV 26711December 30, 1982Full Service Brick and Mortar
2186146Augusta BranchRoute 50, Augusta, WV 26704July 10, 1988Full Service Brick and Mortar
3357186Springfield BranchRoute 28, Springfield, WV 26763November 03, 1999Full Service Brick and Mortar
4365063Paw Paw BranchWinchester & Lee Streets, Paw Paw, WV 25434November 08, 2001Full Service Brick and Mortar
5462574Sunrise BranchRoute 50 And Stayman Drive, Romney, WV 26757April 10, 2007Full Service Brick and Mortar
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