The First State Bank in Barboursville, West Virginia (WV)
Overview, Financial Summary, Detailed Financial Reports, Branches

The First State Bank - Overview

  • General
  • FDIC Certificate #: 14361
    Status: Active
    Federal Reserve ID: 627425
    Bank Holding Company (Regulatory Top Holder): First Bankshares, Inc. (RSSDID: 1076057, Location: Barboursville, WV)
    Date Established: September 01, 1905
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Domestic: 4, Interstate: No)
    FDIC's unique #: 8975
    Numeric code: 21
    Regulator: FDIC
    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: Yes
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: May 14, 1934
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 660 Central Avenue, Barboursville, WV 25504
    County: Cabell
    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
    Metropolitan Statistical Area (MSA): Huntington-Ashland, WV-KY-OH (#3400)
    Core Based Statistical Area (CBSA): Huntington-Ashland, WV-KY-OH (#26580)
    CBSA Metro Statistical Area: Huntington-Ashland, WV-KY-OH (#26580)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $283.5 mil
    Equity capital: $21.3 mil
    Deposits held in domestic offices: $235.7 mil
    Return on assets (ROA): 1.47% ($4.2 mil)
    Quarterly return on assets: 1.69% ($4.8 mil)
    Return on Equity (ROE): 17.93% ($3.8 mil)
    Quarterly return on equity: 21.52% ($4.5 mil)
    Net income: $3.7 mil
    Quarterly Net income: $1.1 mil
    Pretax return on assets: 1.47% ($4,168.1 mil)
    Quarterly Pretax return on assets: 1.69% ($4,791.9 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
  • 65Total employees (full-time equivalent)
  • $283,544Total assets
  • $16,909Cash and due from depository institutions
  • $12,054Interest-bearing balances
  • $20,068Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $228,814Net loans & leases
  • $2,830Loan loss allowance
  • $0Trading account assets
  • $3,604Bank premises and fixed assets
  • $1,693Other real estate owned
  • $3,746Goodwill and other intangibles
  • $283,544Life insurance assets
  • $8,710All other assets
  • $262,248Total liabilities and capital
  • $235,737Total liabilities
  • $200,422Total deposits
  • $235,737Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 4148.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $21,000Trading liabilities
  • $0Other borrowed funds
  • $1,363Subordinated debt
  • $21,296All other liabilities
  • $21,296Total equity capital
  • $21,296Total bank equity capital
  • $0Perpetual preferred stock
  • $425Common stock
  • $4,442Surplus
  • $16,429Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $10,303Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $8,330Income earned, not collected on loans
  • $839Earning assets
  • $1,247Long-term assets (5+ years)
  • $260,936Average Assets, year-to-date
  • $34,484Average Assets, quarterly
  • $252,778Volatile liabilities
  • $271,639Insider loans
  • $204,487FHLB advances
  • $274,866Loans and leases held for sale
  • $2,725Unused loan commitments
  • $2,725Tier 1 (core) risk-based capital
  • $20,957Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $18,921Restructured Loans and leases
  • $881Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $11,744Total interest income
  • $2,042Total interest expense
  • $9,702Net interest income
  • $1,647Provision for loan and lease losses
  • $3,994Total noninterest income
  • $13Fiduciary activities
  • $289Service charges on deposit accounts
  • $0Trading account gains & fees
  • $3,692Additional noninterest income
  • $8,441Total noninterest expense
  • $3,356Salaries and employee benefits
  • $648Premises and equipment expense
  • $4,437Additional noninterest expense
  • $3,608Pre-tax net operating income
  • $119Securities gains (losses)
  • $0Applicable income taxes
  • $3,727Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,727Net income attributable to bank
  • $0Net charge-offs
  • $3,727Cash dividends
  • $1,090Sale, conversion, retirement of capital stock, net
  • $2,743Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.07%Yield on earning assets
  • 0.88%Cost of funding earning assets
  • 4.19%Net interest margin
  • 1.72%Noninterest income to earning assets
  • 3.64%Noninterest expense to earning assets
  • 1.43%Net operating income to assets
  • 1.47%Return on assets (ROA)
  • 1.47%Pretax return on assets
  • 17.93%Return on equity (ROE)
  • 4.73%Retained earnings to average equity (YTD only)
  • 0.54%Net charge-offs to loans
  • 151.10%Credit loss provision to net charge-offs
  • 4.82%Efficiency ratio
  • 61,631Assets per employee
  • 4.36%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 73.60%Loss allowance to loans
  • 1.22%Loss allowance to noncurrent loans
  • 33.97%Noncurrent assets plus other real estate owned to assets
  • 3.53%Noncurrent loans to loans
  • 3.60%Net loans and leases to deposits
  • 97.06%Net loans and leases to core deposits
  • 142.17%Equity capital to assets
  • 7.51%Core capital (leverage) ratio
  • 7.62%Tier 1 risk-based capital ratio
  • 10.25%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $252,778Average earning assets
  • $20,785Average equity
  • $231,613Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $2,944Managed Assets
  • 1Number of Accounts
  • $2,944Personal trust and agency accounts
  • $2,944Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 15Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 4 West Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    08975The First State Bank660 Central Avenue, Barboursville, WV 25504September 01, 1905Full Service Brick and Mortar
    1231378Off-Premise Facility6441 Farmdale Road, Barboursville, WV 25504May 12, 1981Limited Service Facility
    2231379Huntington Branch2627 5th Avenue, Huntington, WV 25702March 03, 1999Full Service Retail
    3418740Teays Valley Branch3754 Teays Valley Road, Hurricane, WV 25526September 16, 2002Full Service Brick and Mortar

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