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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