The Riggs National Bank of Maryland in Mclean, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 29, 1996

  • The Riggs National Bank of Maryland in Mclean, Virginia (VA)
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The Riggs National Bank of Maryland - Overview

  • General
  • FDIC Certificate #: 25873
    Status: Inactive
    Closing history: Change NONGEOFDICDBS from Default
    Acquiring institution: Riggs Bank National Association (#2095)
    Federal Reserve ID: 440521
    Date Established: December 17, 1984
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 10 (Interstate: No)
    FDIC's unique #: 32114
    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: December 17, 1984
    Last Structure Change Effective Date: March 29, 1996
    Last Structure Change Process Date: April 22, 1996
    Last Data Update: April 22, 1996
    Data Source Date: April 05, 2012
  • Location
  • Address: 6805 Old Dominion Drive, Mclean, VA 22101
    County: Fairfax
    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
    Metropolitan Statistical Area (MSA): Washington, DC-MD-VA-WV (#8840)
    Consolidated Metropolitan Statistical Area (CMSA): Washington-Baltimore, DC-MD-VA-WV (#97)
    Combined Statistical Area (CSA): Washington-Baltimore-Northern Virginia, DC-MD-VA-WV (#548)
    Core Based Statistical Area (CBSA): Washington-Arlington-Alexandria, DC-VA-MD-WV (#47900)
    CBSA Metro Statistical Area: Washington-Arlington-Alexandria, DC-VA-MD-WV (#47900)
    Core Based Statistical Division: Washington-Arlington-Alexandria, DC-VA-MD-WV (#47894)
  • History of Changes
  • Merger - Without Assistance
    Corrections
    Change NONGEOFLDOFF from Default
    Change NONGEOFDICDBS from Default
  • Financial Summary
  • Total assets: $224.3 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $48Total assets
  • $224,345Cash and due from depository institutions
  • $3,925Interest-bearing balances
  • $0Securities
  • $38,596Federal funds sold & reverse repurchase agreements
  • $49,300Net loans & leases
  • $126,034Loan loss allowance
  • $1,569Trading account assets
  • $0Bank premises and fixed assets
  • $3,264Other real estate owned
  • $0Goodwill and other intangibles
  • $3,226Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $224,345Total liabilities
  • $208,288Total deposits
  • $199,023Interest-bearing deposits
  • $163,159Deposits held in domestic offices
  • 199023.00%% insured (estimated)
  • $83Federal funds purchased & repurchase agreements
  • $6,342Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $2,923Total equity capital
  • $2,923Total bank equity capital
  • $16,057Perpetual preferred stock
  • $0Common stock
  • $3,459Surplus
  • $15,703Undivided profits
  • Memoranda
  • $-3,105Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $898Income earned, not collected on loans
  • $974Earning assets
  • $213,930Long-term assets (5+ years)
  • $17,184Average Assets, year-to-date
  • $210,496Average Assets, quarterly
  • $220,129Volatile liabilities
  • $21,375Insider loans
  • $100FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $46,853Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $15,901Total risk weighted assets
  • $126,723Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1995)

  • Dollar figures in thousands
  • $0Total interest income
  • $14,772Total interest expense
  • $6,882Net interest income
  • $7,890Provision for loan and lease losses
  • $0Total noninterest income
  • $3,107Fiduciary activities
  • $749Service charges on deposit accounts
  • $1,110Trading account gains & fees
  • $10Additional noninterest income
  • $1,238Total noninterest expense
  • $8,704Salaries and employee benefits
  • $1,771Premises and equipment expense
  • $2,968Additional noninterest expense
  • $3,965Pre-tax net operating income
  • $2,293Securities gains (losses)
  • $0Applicable income taxes
  • $731Income before extraordinary items
  • $1,562Extraordinary gains - net
  • $0Net income attributable to bank
  • $1,562Net charge-offs
  • -$92Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1995)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 7.41%Cost of funding earning assets
  • 3.45%Net interest margin
  • 3.96%Noninterest income to earning assets
  • 1.56%Noninterest expense to earning assets
  • 4.36%Net operating income to assets
  • 0.74%Return on assets (ROA)
  • 0.74%Pretax return on assets
  • 1.09%Return on equity (ROE)
  • 10.55%Retained earnings to average equity (YTD only)
  • 10.55%Net charge-offs to loans
  • -0.08%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 79,149Assets per employee
  • 4.67%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.23%Loss allowance to noncurrent loans
  • 174.72%Noncurrent assets plus other real estate owned to assets
  • 0.40%Noncurrent loans to loans
  • 0.70%Net loans and leases to deposits
  • 63.33%Net loans and leases to core deposits
  • 68.50%Equity capital to assets
  • 7.16%Core capital (leverage) ratio
  • 7.30%Tier 1 risk-based capital ratio
  • 12.55%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $210,496Average earning assets
  • $14,808Average equity
  • $199,433Average loans

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