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

This bank is inactive as of July 16, 1999

  • The First National Bank of Clifton Forge in Clifton Forge, Virginia (VA)
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The First National Bank of Clifton Forge - Overview

  • General
  • FDIC Certificate #: 6831
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Branch Banking and Trust Company of Virginia (#22584)
    Federal Reserve ID: 159720
    Date Established: January 01, 1901
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 1 (Interstate: No)
    FDIC's unique #: 4592
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: No
    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: 511 Main Street, Clifton Forge, VA 24422
    County: Alleghany
    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: $123.9 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
  • 15Total employees (full-time equivalent)
  • $124,760Total assets
  • $1,339Cash and due from depository institutions
  • $4Interest-bearing balances
  • $79,478Securities
  • $2,160Federal funds sold & reverse repurchase agreements
  • $38,863Net loans & leases
  • $632Loan loss allowance
  • $0Trading account assets
  • $448Bank premises and fixed assets
  • $73Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $2,399All other assets
  • $124,760Total liabilities and capital
  • $109,776Total liabilities
  • $57,918Total deposits
  • $53,076Interest-bearing deposits
  • $57,918Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $50,870Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $36Other borrowed funds
  • $0Subordinated debt
  • $952All other liabilities
  • $14,984Total equity capital
  • $14,984Total bank equity capital
  • $14,984Perpetual preferred stock
  • $0Common stock
  • $1,575Surplus
  • $1,575Undivided profits
  • Memoranda
  • $11,834Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $355Earning assets
  • $0Long-term assets (5+ years)
  • $212Average Assets, year-to-date
  • $120,505Average Assets, quarterly
  • $37,453Volatile liabilities
  • $127,753Insider loans
  • $125,834FHLB advances
  • $55,270Loans and leases held for sale
  • $763Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $1,552Total unused commitments
  • $0Restructured Loans and leases
  • $52,081Derivatives

Income and Expense (December 31, 1998)

  • Dollar figures in thousands
  • $8,838Total interest income
  • $5,215Total interest expense
  • $3,623Net interest income
  • $261Provision for loan and lease losses
  • $198Total noninterest income
  • $0Fiduciary activities
  • $118Service charges on deposit accounts
  • $0Trading account gains & fees
  • $80Additional noninterest income
  • $1,721Total noninterest expense
  • $498Salaries and employee benefits
  • $126Premises and equipment expense
  • $1,097Additional noninterest expense
  • $1,839Pre-tax net operating income
  • $19Securities gains (losses)
  • $555Applicable income taxes
  • $1,303Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,303Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $76Sale, conversion, retirement of capital stock, net
  • $903Net operating income

Performance and Condition Ratios (December 31, 1998)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.11%Yield on earning assets
  • 4.20%Cost of funding earning assets
  • 2.92%Net interest margin
  • 0.16%Noninterest income to earning assets
  • 1.39%Noninterest expense to earning assets
  • 1.01%Net operating income to assets
  • 1.02%Return on assets (ROA)
  • 1.45%Pretax return on assets
  • 8.49%Return on equity (ROE)
  • 2.61%Retained earnings to average equity (YTD only)
  • 0.19%Net charge-offs to loans
  • 343.42%Credit loss provision to net charge-offs
  • 27.63%Efficiency ratio
  • 45,041Assets per employee
  • 8.32%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 69.30%Loss allowance to loans
  • 1.60%Loss allowance to noncurrent loans
  • 178.03%Noncurrent assets plus other real estate owned to assets
  • 0.34%Noncurrent loans to loans
  • 0.90%Net loans and leases to deposits
  • 67.10%Net loans and leases to core deposits
  • 72.57%Equity capital to assets
  • 12.01%Core capital (leverage) ratio
  • 11.83%Tier 1 risk-based capital ratio
  • 28.81%Total risk-based capital ratio
  • Memoranda
  • $30Average assets
  • $127,753Average earning assets
  • $15,355Average equity
  • $124,256Average loans

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