The Bank of Southside Virginia in Carson, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • The Bank of Southside Virginia in Carson, Virginia (VA)
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The Bank of Southside Virginia - Overview

  • General
  • FDIC Certificate #: 11580
    Status: Active
    Federal Reserve ID: 610128
    Bank Holding Company (Regulatory Top Holder): Bank Of Southside Virginia Corporation, The (RSSDID: 1076105, Location: Carson, VA)
    Date Established: August 10, 1911
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 15 (Domestic: 15, Interstate: No)
    OTS Docket #: 10229
    FDIC's unique #: 7399
    Numeric code: 21
    Regulator: FDIC
    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: 17208 Halligan Park Rd., Carson, VA 23830
    County: Dinwiddie
    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
    Metropolitan Statistical Area (MSA): Richmond-Petersburg, VA (#6760)
    Core Based Statistical Area (CBSA): Richmond, VA (#40060)
    CBSA Metro Statistical Area: Richmond, VA (#40060)
  • History of Changes
  • Change in Location
    Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $530.3 mil
    Equity capital: $72.9 mil
    Deposits held in domestic offices: $452.9 mil
    Return on assets (ROA): 1.57% ($8.3 mil)
    Quarterly return on assets: 0.74% ($3.9 mil)
    Return on Equity (ROE): 11.58% ($8.5 mil)
    Quarterly return on equity: 5.27% ($3.8 mil)
    Net income: $8.3 mil
    Quarterly Net income: $1.0 mil
    Pretax return on assets: 2.10% ($11,135.7 mil)
    Quarterly Pretax return on assets: 1.06% ($5,620.9 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
  • 105Total employees (full-time equivalent)
  • $530,272Total assets
  • $115,364Cash and due from depository institutions
  • $108,122Interest-bearing balances
  • $101,377Securities
  • $3,831Federal funds sold & reverse repurchase agreements
  • $274,828Net loans & leases
  • $6,974Loan loss allowance
  • $0Trading account assets
  • $3,179Bank premises and fixed assets
  • $2,168Other real estate owned
  • $1,568Goodwill and other intangibles
  • $530,272Life insurance assets
  • $27,957All other assets
  • $457,387Total liabilities and capital
  • $452,901Total liabilities
  • $406,099Total deposits
  • $452,901Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $4,486Subordinated debt
  • $72,885All other liabilities
  • $72,885Total equity capital
  • $72,885Total bank equity capital
  • $0Perpetual preferred stock
  • $291Common stock
  • $2,000Surplus
  • $70,594Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $2,462Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,261Income earned, not collected on loans
  • $0Earning assets
  • $2,081Long-term assets (5+ years)
  • $488,158Average Assets, year-to-date
  • $107,488Average Assets, quarterly
  • $526,855Volatile liabilities
  • $533,346Insider loans
  • $326,592FHLB advances
  • $532,047Loans and leases held for sale
  • $14,851Unused loan commitments
  • $12,572Tier 1 (core) risk-based capital
  • $68,144Tier 2 risk-based capital
  • $2,279Total risk weighted assets
  • $0Total unused commitments
  • $44,688Restructured Loans and leases
  • $3,775Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $25,536Total interest income
  • $4,147Total interest expense
  • $21,389Net interest income
  • $1,436Provision for loan and lease losses
  • $5,204Total noninterest income
  • $0Fiduciary activities
  • $2,152Service charges on deposit accounts
  • $0Trading account gains & fees
  • $3,052Additional noninterest income
  • $13,984Total noninterest expense
  • $6,999Salaries and employee benefits
  • $1,462Premises and equipment expense
  • $5,523Additional noninterest expense
  • $11,173Pre-tax net operating income
  • -$98Securities gains (losses)
  • $2,781Applicable income taxes
  • $8,294Income before extraordinary items
  • $0Extraordinary gains - net
  • $8,294Net income attributable to bank
  • $0Net charge-offs
  • $8,294Cash dividends
  • $929Sale, conversion, retirement of capital stock, net
  • $4,532Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.27%Yield on earning assets
  • 0.86%Cost of funding earning assets
  • 4.42%Net interest margin
  • 1.07%Noninterest income to earning assets
  • 2.89%Noninterest expense to earning assets
  • 1.59%Net operating income to assets
  • 1.57%Return on assets (ROA)
  • 2.10%Pretax return on assets
  • 11.58%Return on equity (ROE)
  • 5.25%Retained earnings to average equity (YTD only)
  • 0.31%Net charge-offs to loans
  • 154.57%Credit loss provision to net charge-offs
  • 13.57%Efficiency ratio
  • 51,179Assets per employee
  • 5.05%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 54.64%Loss allowance to loans
  • 2.47%Loss allowance to noncurrent loans
  • 213.86%Noncurrent assets plus other real estate owned to assets
  • 1.03%Noncurrent loans to loans
  • 1.16%Net loans and leases to deposits
  • 60.68%Net loans and leases to core deposits
  • 62.61%Equity capital to assets
  • 13.74%Core capital (leverage) ratio
  • 12.81%Tier 1 risk-based capital ratio
  • 20.87%Total risk-based capital ratio
  • Memoranda
  • $22Average assets
  • $526,855Average earning assets
  • $71,617Average equity
  • $484,126Average loans

List of branches

  • 15 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    07399The Bank Of Southside Virginia17208 Halligan Park Rd., Carson, VA 23830August 10, 1911Full Service Brick and Mortar
    1225068Jarratt Branch211 Jarratt Avenue, Jarratt, VA 23867October 21, 1939Full Service Brick and Mortar
    2225069Prince George Branch6401 Courthouse Road, Prince George, VA 23875June 07, 1933Full Service Brick and Mortar
    3225070Stony Creek Branch12441 Main Street, Stony Creek, VA 23882June 07, 1933Full Service Brick and Mortar
    4225071Rohoic-Dinwiddie County Branch26008 Cox Road, Petersburg, VA 23841May 01, 1972Full Service Brick and Mortar
    5225072Crater Road Branch2703 South Crater Road, Petersburg, VA 23805November 01, 1972Full Service Brick and Mortar
    6225073Greensville-Emporia Branch1400 West Atlantic Street, Emporia, VA 23847December 17, 1979Full Service Brick and Mortar
    8225075Wakefield Branch631 County Drive, Wakefield, VA 23888July 12, 1989Full Service Brick and Mortar
    10225076Colonial Heights Branch764 East Ellerslie Avenue, Colonial Heights, VA 23834Febuary 01, 1994Full Service Brick and Mortar
    11212551Boykins Branch18207 Virginia Avenue, Boykins, VA 23827March 09, 1962Full Service Brick and Mortar
    12212554Capron Branch23003 Main Street, Capron, VA 23829March 09, 1962Full Service Brick and Mortar
    13212703Amory Drive Branch1310 Amory Drive, Franklin, VA 23851December 29, 1988Full Service Brick and Mortar
    145383Smithfield Branch115 Main Street, Smithfield, VA 23430January 01, 1891Full Service Brick and Mortar
    15362114Dinwiddie Branch14003 Boydton Plank Road, Dinwiddie, VA 23841Febuary 12, 2001Full Service Brick and Mortar
    18363679Chester Branch4310 West Hundred Road, Chester, VA 23831March 11, 2002Full Service Brick and Mortar

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