The First Bank of Stuart in Stuart, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 16, 1999

  • The First Bank of Stuart in Stuart, Virginia (VA)
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The First Bank of Stuart - Overview

  • General
  • FDIC Certificate #: 6919
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Branch Banking and Trust Company of Virginia (#22584)
    Federal Reserve ID: 777124
    Date Established: January 10, 1921
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 6 (Interstate: No)
    OTS Docket #: 14259
    FDIC's unique #: 4649
    Numeric code: 13
    Regulator: FED
    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: July 16, 1999
    Last Structure Change Process Date: August 11, 1999
    Last Data Update: August 11, 1999
    Data Source Date: April 05, 2012
  • Location
  • Address: Blue Ridge And Main Streets, Stuart, VA 24171
    County: Patrick
    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
  • Financial Summary
  • Total assets: $170.5 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
  • 39Total employees (full-time equivalent)
  • $170,636Total assets
  • $4,602Cash and due from depository institutions
  • $6Interest-bearing balances
  • $89,685Securities
  • $7,650Federal funds sold & reverse repurchase agreements
  • $65,839Net loans & leases
  • $1,072Loan loss allowance
  • $0Trading account assets
  • $594Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $2,266All other assets
  • $170,636Total liabilities and capital
  • $156,372Total liabilities
  • $117,665Total deposits
  • $100,924Interest-bearing deposits
  • $117,665Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $26,087Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $11,138Other borrowed funds
  • $0Subordinated debt
  • $1,482All other liabilities
  • $14,264Total equity capital
  • $14,264Total bank equity capital
  • $14,264Perpetual preferred stock
  • $0Common stock
  • $2,000Surplus
  • $400Undivided profits
  • Memoranda
  • $11,864Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $4Earning assets
  • $0Long-term assets (5+ years)
  • $512Average Assets, year-to-date
  • $163,180Average Assets, quarterly
  • $44,130Volatile liabilities
  • $166,116Insider loans
  • $170,081FHLB advances
  • $38,389Loans and leases held for sale
  • $2,419Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $8,660Total unused commitments
  • $0Restructured Loans and leases
  • $91,297Derivatives

Income and Expense (December 31, 1998)

  • Dollar figures in thousands
  • $12,554Total interest income
  • $6,621Total interest expense
  • $5,933Net interest income
  • $421Provision for loan and lease losses
  • $579Total noninterest income
  • $0Fiduciary activities
  • $232Service charges on deposit accounts
  • $0Trading account gains & fees
  • $347Additional noninterest income
  • $3,563Total noninterest expense
  • $1,362Salaries and employee benefits
  • $206Premises and equipment expense
  • $1,995Additional noninterest expense
  • $2,528Pre-tax net operating income
  • $52Securities gains (losses)
  • $571Applicable income taxes
  • $2,009Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,009Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $46Sale, conversion, retirement of capital stock, net
  • $838Net operating income

Performance and Condition Ratios (December 31, 1998)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.92%Yield on earning assets
  • 4.18%Cost of funding earning assets
  • 3.74%Net interest margin
  • 0.37%Noninterest income to earning assets
  • 2.25%Noninterest expense to earning assets
  • 1.18%Net operating income to assets
  • 1.21%Return on assets (ROA)
  • 1.55%Pretax return on assets
  • 14.20%Return on equity (ROE)
  • 8.28%Retained earnings to average equity (YTD only)
  • 0.07%Net charge-offs to loans
  • 915.22%Credit loss provision to net charge-offs
  • 64.11%Efficiency ratio
  • 54,714Assets per employee
  • 4.38%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 41.71%Loss allowance to loans
  • 1.60%Loss allowance to noncurrent loans
  • 26800.00%Noncurrent assets plus other real estate owned to assets
  • 0.00%Noncurrent loans to loans
  • 0.01%Net loans and leases to deposits
  • 55.95%Net loans and leases to core deposits
  • 62.43%Equity capital to assets
  • 8.36%Core capital (leverage) ratio
  • 8.47%Tier 1 risk-based capital ratio
  • 15.78%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $166,116Average earning assets
  • $14,147Average equity
  • $158,474Average loans

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