The First National Bank of Keystone in Keystone, West Virginia (WV)

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The First National Bank of Keystone
GeneralFDIC Certificate #: 6771
Status: Inactive
Closing history: Corrections
Acquiring institution: Ameribank, Inc. (#6782)
Federal Reserve ID: 387028
Date Established: January 01, 1904
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 3 (Interstate: No)
OTS Docket #: 8815
FDIC's unique #: 4549
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: September 07, 1999
Last Structure Change Process Date: September 09, 1999
Last Data Update: September 09, 1999
Data Source Date: April 05, 2012
LocationAddress: Main Street, Keystone, WV 24868
County: Mcdowell
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Scott Depot
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
History of ChangesAbsorption - Assisted
Financial SummaryTotal assets: $1,119.9 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)
Total employees (full-time equivalent)87
Total assets$1,139,941
Cash and due from depository institutions$40,524
Interest-bearing balances$26,909
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$583,960
Loan loss allowance $11,342
Trading account assets$0
Bank premises and fixed assets$4,595
Other real estate owned$132
Goodwill and other intangibles$2,400
All other assets$433,559
Life insurance assets$0
Total liabilities and capital$1,139,941
Total liabilities$950,785
Total deposits$870,100
Interest-bearing deposits$858,077
Deposits held in domestic offices$870,100
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $51,606
Subordinated debt $0
All other liabilities $29,079
Total equity capital$189,156
Total bank equity capital$189,156
Perpetual preferred stock$189,156
Common stock$0
Undivided profits $2,400
Noncurrent loans and leases $184,996
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $0
Earning assets $2,068
Long-term assets (5+ years) $835
Average Assets, year-to-date $9,310
Average Assets, quarterly $685,640
Volatile liabilities $178,194
Insider loans $957,031
FHLB advances $1,112,763
Loans and leases held for sale $614,635
Unused loan commitments $433
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $338,115
Total unused commitments $0
Restructured Loans and leases $0
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Income and Expense (December 31, 1998)
(Dollar figures in thousands)
Total interest income $101,894
Total interest expense $39,995
Net interest income $61,899
Provision for loan and lease losses $5,000
Total noninterest income $73,547
Fiduciary activities $0
Service charges on deposit accounts $225
Trading account gains & fees $0
Additional noninterest income $73,322
Total noninterest expense $19,483
Salaries and employee benefits $4,893
Premises and equipment expense $1,607
Additional noninterest expense $12,983
Pre-tax net operating income $110,963
Securities gains (losses) $0
Applicable income taxes $41,615
Income before extraordinary items $69,348
Extraordinary gains - net $0
Net income attributable to bank $69,348
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $2,296
Net operating income $2,640
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Performance and Condition Ratios (December 31, 1998)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets18.60%
Cost of funding earning assets 7.30%
Net interest margin 11.30%
Noninterest income to earning assets 13.43%
Noninterest expense to earning assets 3.56%
Net operating income to assets 7.25%
Return on assets (ROA) 7.25%
Pretax return on assets 11.59%
Return on equity (ROE) 43.28%
Retained earnings to average equity (YTD only) 41.63%
Net charge-offs to loans 0.45%
Credit loss provision to net charge-offs 217.77%
Efficiency ratio50.51%
Assets per employee$14,384
Cash dividends to net income (YTD only)13.10%
Condition Ratios (%)
Loss allowance to loans 3.81%
Loss allowance to noncurrent loans 1.91%
Noncurrent assets plus other real estate owned to assets 548.45%
Noncurrent loans to loans 0.19%
Net loans and leases to deposits0.35%
Net loans and leases to core deposits 67.11%
Equity capital to assets 190.17%
Core capital (leverage) ratio 16.59%
Tier 1 risk-based capital ratio 15.90%
Total risk-based capital ratio 7.80%
Average assets$8
Average earning assets$957,031
Average equity $160,236
Average loans $547,720
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