The Bank of Sussex and Surry in Wakefield, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of August 27, 1999

The Bank of Sussex and Surry in Wakefield, Virginia (VA)
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The Bank of Sussex and Surry - Overview

General
FDIC Certificate #: 11201
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: United Community Bank (#20386)
Federal Reserve ID: 924227
Date Established: January 01, 1902
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Interstate: No)
OTS Docket #: 14670
FDIC's unique #: 7149
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: January 01, 1934
Last Structure Change Effective Date: August 27, 1999
Last Structure Change Process Date: September 16, 1999
Last Data Update: September 16, 1999
Data Source Date: April 05, 2012
Location
Address: 205 Railroad Avenue, Wakefield, VA 23888
County: Sussex
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
Core Based Statistical Area (CBSA): Richmond, VA (#40060)
CBSA Metro Statistical Area: Richmond, VA (#40060)
Financial Summary
Total assets: $67.1 mil

1992 - 1999 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, 1998)

Dollar figures in thousands
26Total employees (full-time equivalent)
$67,768Total assets
$2,917Cash and due from depository institutions
$0Interest-bearing balances
$23,151Securities
$3,925Federal funds sold & reverse repurchase agreements
$35,996Net loans & leases
$411Loan loss allowance
$0Trading account assets
$881Bank premises and fixed assets
$13Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$885All other assets
$67,768Total liabilities and capital
$57,888Total liabilities
$55,721Total deposits
$47,798Interest-bearing deposits
$55,721Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$2,167All other liabilities
$9,880Total equity capital
$9,880Total bank equity capital
$9,880Perpetual preferred stock
$0Common stock
$381Surplus
$1,000Undivided profits
Memoranda
$8,499Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$150Earning assets
$0Long-term assets (5+ years)
$407Average Assets, year-to-date
$63,072Average Assets, quarterly
$8,926Volatile liabilities
$66,243Insider loans
$66,994FHLB advances
$8,015Loans and leases held for sale
$822Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$7,187Total unused commitments
$0Restructured Loans and leases
$41,629Derivatives

Income and Expense (December 31, 1998)

Dollar figures in thousands
$4,740Total interest income
$2,104Total interest expense
$2,636Net interest income
$36Provision for loan and lease losses
$304Total noninterest income
$0Fiduciary activities
$245Service charges on deposit accounts
$0Trading account gains & fees
$59Additional noninterest income
$1,665Total noninterest expense
$829Salaries and employee benefits
$214Premises and equipment expense
$622Additional noninterest expense
$1,239Pre-tax net operating income
$0Securities gains (losses)
$287Applicable income taxes
$952Income before extraordinary items
$0Extraordinary gains - net
$952Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$51Sale, conversion, retirement of capital stock, net
$2,078Net operating income

Performance and Condition Ratios (December 31, 1998)

Dollar figures in thousands
Performance Ratios (%, annualized)
7.62%Yield on earning assets
3.38%Cost of funding earning assets
4.24%Net interest margin
0.49%Noninterest income to earning assets
2.68%Noninterest expense to earning assets
1.44%Net operating income to assets
1.44%Return on assets (ROA)
1.87%Pretax return on assets
8.82%Return on equity (ROE)
-10.43%Retained earnings to average equity (YTD only)
0.14%Net charge-offs to loans
70.59%Credit loss provision to net charge-offs
25.00%Efficiency ratio
56,633Assets per employee
2.61%Cash dividends to net income (YTD only)
Condition Ratios (%)
218.28%Loss allowance to loans
1.13%Loss allowance to noncurrent loans
274.00%Noncurrent assets plus other real estate owned to assets
0.24%Noncurrent loans to loans
0.41%Net loans and leases to deposits
64.60%Net loans and leases to core deposits
75.45%Equity capital to assets
14.58%Core capital (leverage) ratio
13.83%Tier 1 risk-based capital ratio
21.97%Total risk-based capital ratio
Memoranda
$24Average assets
$66,243Average earning assets
$10,792Average equity
$62,167Average loans

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