The First Bank and Trust Company in Lebanon, Virginia (VA), TN

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The First Bank and Trust Company
GeneralFDIC Certificate #: 22918
Status: Active
Federal Reserve ID: 223322
Bank Holding Company (Regulatory Top Holder): First Bancorp, Inc. (RSSDID: 1988646, Location: Lebanon, VA)
Date Established: August 03, 1979
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 21 (Domestic: 21, Interstate: Yes)
OTS Docket #: 11070
FDIC's unique #: 16025
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: Commercial Lending Specialization
Date of Deposit Insurance: August 03, 1979
Last Structure Change Effective Date: Febuary 01, 2007
Last Structure Change Process Date: April 05, 2007
Last Data Update: April 05, 2007
Data Source Date: April 05, 2012
LocationAddress: 359 West Main Street, Lebanon, VA 24266
County: Russell
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
History of ChangesChange in Location
Financial SummaryTotal assets: $1,247.0 mil
Equity capital: $124.9 mil
Deposits held in domestic offices: $1,102.9 mil
Return on assets (ROA): 1.18% ($14.7 mil)
Quarterly return on assets: 1.38% ($17.2 mil)
Return on Equity (ROE): 12.10% ($15.1 mil)
Quarterly return on equity: 13.76% ($17.2 mil)
Net income: $14.1 mil
Quarterly Net income: $4.2 mil
Pretax return on assets: 1.75% ($21,821.7 mil)
Quarterly Pretax return on assets: 2.16% ($26,934.3 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)281
Total assets$1,246,957
Cash and due from depository institutions$224,887
Interest-bearing balances$212,597
Federal funds sold & reverse repurchase agreements$450
Net loans & leases$905,542
Loan loss allowance $18,117
Trading account assets$0
Bank premises and fixed assets$20,048
Other real estate owned$6,401
Goodwill and other intangibles$3,980
All other assets$34,926
Life insurance assets$1,246,958
Total liabilities and capital$1,122,056
Total liabilities$1,102,907
Total deposits$913,909
Interest-bearing deposits$1,102,907
Deposits held in domestic offices$85
% insured (estimated)1176.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$13,830
Other borrowed funds $0
Subordinated debt $4,143
All other liabilities $124,902
Total equity capital$124,902
Total bank equity capital$124,902
Perpetual preferred stock$0
Common stock$4,360
Undivided profits $104,759
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $2,402
Income earned, not collected on loans $11,166
Earning assets $0
Long-term assets (5+ years) $4,762
Average Assets, year-to-date $1,169,312
Average Assets, quarterly $128,886
Volatile liabilities $1,198,086
Insider loans $1,221,285
FHLB advances $799,850
Loans and leases held for sale $1,219,055
Unused loan commitments $16,013
Tier 1 (core) risk-based capital $3,640
Tier 2 risk-based capital $123,635
Total risk weighted assets $0
Total unused commitments $12,373
Restructured Loans and leases $106,397
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $57,193
Total interest expense $9,831
Net interest income $47,362
Provision for loan and lease losses $6,925
Total noninterest income $9,324
Fiduciary activities $1,042
Service charges on deposit accounts $3,633
Trading account gains & fees $0
Additional noninterest income $4,649
Total noninterest expense $28,800
Salaries and employee benefits $15,737
Premises and equipment expense $2,648
Additional noninterest expense $10,415
Pre-tax net operating income $20,961
Securities gains (losses) $0
Applicable income taxes $6,853
Income before extraordinary items $14,108
Extraordinary gains - net $0
Net income attributable to bank $14,108
Net charge-offs $0
Cash dividends $14,108
Sale, conversion, retirement of capital stock, net $9,033
Net operating income $1,484
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.11%
Cost of funding earning assets 0.88%
Net interest margin 4.23%
Noninterest income to earning assets 0.83%
Noninterest expense to earning assets 2.57%
Net operating income to assets 1.18%
Return on assets (ROA) 1.18%
Pretax return on assets 1.75%
Return on equity (ROE) 12.10%
Retained earnings to average equity (YTD only) 10.83%
Net charge-offs to loans 0.95%
Credit loss provision to net charge-offs 76.66%
Efficiency ratio3.09%
Assets per employee$50,538
Cash dividends to net income (YTD only)4.44%
Condition Ratios (%)
Loss allowance to loans 10.52%
Loss allowance to noncurrent loans 1.96%
Noncurrent assets plus other real estate owned to assets 162.25%
Noncurrent loans to loans 1.41%
Net loans and leases to deposits1.21%
Net loans and leases to core deposits 82.11%
Equity capital to assets 98.84%
Core capital (leverage) ratio 10.02%
Tier 1 risk-based capital ratio 10.14%
Total risk-based capital ratio 15.46%
Average assets$17
Average earning assets$1,198,086
Average equity $116,559
Average loans $1,120,183
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$141,059
Number of Accounts1
Personal trust and agency accounts$125,462
Employee benefit-defined contribution accounts$60,144
Employee benefit-defined benefit accounts$1,423
Other retirement accounts$0
Corporate trust and agency accounts$15,080
Investment management agency accounts$0
Other fiduciary accounts$48,815
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts279
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$14,797
Employee benefit-defined benefit accounts$0
Other retirement accounts$15,597
Corporate trust and agency accounts$16
Other fiduciary accounts$15,147
Fiduciary accounts held in foreign offices$0
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4 Tennessee Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
956239Johnson City Branch1185 North State Of Franklin Road, Johnson City, TN 37604December 05, 1995Full Service Brick and Mortar
10290384Volunteer Parkway Branch1314 Volunteer Parkway, Bristol, TN 37620June 09, 1997Full Service Brick and Mortar
11357107Gray Office Branch2100 Forest Drive, Gray, TN 37615March 15, 2000Full Service Brick and Mortar
12364442Kingsport Branch1108 East Stone Drive, Kingsport, TN 37660April 08, 2002Full Service Brick and Mortar
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17 Virginia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
016025The First Bank And Trust Company359 West Main Street, Lebanon, VA 24266August 03, 1979Full Service Brick and Mortar
1255590Abingdon Branch667 West Main Street, Abingdon, VA 24210November 15, 1984Full Service Brick and Mortar
2255591East Bristol Branch38 East Valley Drive, Bristol, VA 24201Febuary 03, 1990Full Service Brick and Mortar
3255592State Street Branch1419 West State Street, Bristol, VA 24201September 13, 1993Full Service Brick and Mortar
4255593East Abingdon Branch933 East Main Street, Abingdon, VA 24210July 08, 1993Full Service Brick and Mortar
5255594East Lebanon Branch2030 East Main Street, Lebanon, VA 24266August 14, 1997Full Service Brick and Mortar
7356996Staunton Branch1030 Richmond Road, Staunton, VA 24401May 30, 2000Full Service Brick and Mortar
8362166Harrisonburg Branch396 South High Street, Harrisonburg, VA 22801April 04, 2001Full Service Brick and Mortar
1317137Wise Branch303 West Main Street, Wise, VA 24293September 15, 1983Full Service Brick and Mortar
14257584Park Avenue Branch1026 Park Avenue, Norton, VA 24273June 08, 1994Full Service Brick and Mortar
16441779Verona Branch1563 Commerce Road, Verona, VA 24482November 08, 2004Full Service Brick and Mortar
17441780Wytheville Branch1290 N. 4th Street, Wytheville, VA 24382April 18, 2005Full Service Brick and Mortar
18441781East Harrisonburg Branch1880 East Market Street, Harrisonburg, VA 22801June 01, 2005Full Service Brick and Mortar
19452403Lynchburg Branch101 Annjo Court, Forest, VA 24551March 01, 2006Limited Service Administrative
21458865Christiansburg Branch150 Peppers Ferry Road, Ne, Christiansburg, VA 24073January 30, 2007Full Service Brick and Mortar
22474352Waynesboro Branch851 Lew Dewitt Boulevard, Waynesboro, VA 22980April 23, 2008Full Service Brick and Mortar
23478570Mortgage Office Branch1063 Old Abingdon Highway, Bristol, VA 24201Febuary 01, 2008Limited Service Administrative
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