TruPoint Bank in Grundy, Virginia (VA), TN
Overview, Financial Summary, Detailed Financial Reports, Branches

TruPoint Bank - Overview

  • General
  • FDIC Certificate #: 21883
    Status: Active
    Federal Reserve ID: 274829
    Bank Holding Company (Regulatory Top Holder): Miners And Merchants Bancorp, Inc. (RSSDID: 2227687, Location: Grundy, VA)
    Date Established: January 02, 1975
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 12 (Domestic: 12, Interstate: Yes)
    OTS Docket #: 11947
    FDIC's unique #: 15162
    Numeric code: 13
    Regulator: FED
    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: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 02, 1975
    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: 20089 Riverside Drive, Grundy, VA 24614
    County: Buchanan
    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
  • History of Changes
  • Change in Location
    Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $455.3 mil
    Equity capital: $42.4 mil
    Deposits held in domestic offices: $395.0 mil
    Return on assets (ROA): 0.24% ($1.1 mil)
    Quarterly return on assets: 0.75% ($3.4 mil)
    Return on Equity (ROE): 2.76% ($1.2 mil)
    Quarterly return on equity: 7.94% ($3.3 mil)
    Net income: $1.1 mil
    Quarterly Net income: $0.8 mil
    Pretax return on assets: 0.29% ($1,320.5 mil)
    Quarterly Pretax return on assets: 1.06% ($4,826.5 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
  • 152Total employees (full-time equivalent)
  • $455,331Total assets
  • $53,776Cash and due from depository institutions
  • $39,331Interest-bearing balances
  • $120,428Securities
  • $30Federal funds sold & reverse repurchase agreements
  • $248,285Net loans & leases
  • $6,996Loan loss allowance
  • $0Trading account assets
  • $12,161Bank premises and fixed assets
  • $561Other real estate owned
  • $2,126Goodwill and other intangibles
  • $455,332Life insurance assets
  • $17,964All other assets
  • $412,978Total liabilities and capital
  • $394,959Total liabilities
  • $329,800Total deposits
  • $394,959Interest-bearing deposits
  • $86Deposits held in domestic offices
  • 14886.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $3,133Subordinated debt
  • $42,354All other liabilities
  • $42,354Total equity capital
  • $42,354Total bank equity capital
  • $0Perpetual preferred stock
  • $918Common stock
  • $7,628Surplus
  • $33,808Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $25,757Income earned, not collected on loans
  • $0Earning assets
  • $1,861Long-term assets (5+ years)
  • $408,074Average Assets, year-to-date
  • $177,318Average Assets, quarterly
  • $468,237Volatile liabilities
  • $447,946Insider loans
  • $241,732FHLB advances
  • $437,600Loans and leases held for sale
  • $8,340Unused loan commitments
  • $8,340Tier 1 (core) risk-based capital
  • $35,799Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $17,755Restructured Loans and leases
  • $811Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $20,181Total interest income
  • $4,151Total interest expense
  • $16,030Net interest income
  • $3,484Provision for loan and lease losses
  • $2,924Total noninterest income
  • $0Fiduciary activities
  • $1,266Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,658Additional noninterest income
  • $14,574Total noninterest expense
  • $7,271Salaries and employee benefits
  • $1,447Premises and equipment expense
  • $5,856Additional noninterest expense
  • $896Pre-tax net operating income
  • $452Securities gains (losses)
  • $214Applicable income taxes
  • $1,134Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,134Net income attributable to bank
  • $0Net charge-offs
  • $1,134Cash dividends
  • $4,127Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.76%Yield on earning assets
  • 0.98%Cost of funding earning assets
  • 3.78%Net interest margin
  • 0.69%Noninterest income to earning assets
  • 3.44%Noninterest expense to earning assets
  • 0.16%Net operating income to assets
  • 0.24%Return on assets (ROA)
  • 0.29%Pretax return on assets
  • 2.76%Return on equity (ROE)
  • 2.76%Retained earnings to average equity (YTD only)
  • 1.53%Net charge-offs to loans
  • 84.42%Credit loss provision to net charge-offs
  • 1.06%Efficiency ratio
  • 74,201Assets per employee
  • 3.00%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.74%Loss allowance to noncurrent loans
  • 27.16%Noncurrent assets plus other real estate owned to assets
  • 5.78%Noncurrent loans to loans
  • 10.09%Net loans and leases to deposits
  • 62.86%Net loans and leases to core deposits
  • 65.27%Equity capital to assets
  • 9.30%Core capital (leverage) ratio
  • 8.18%Tier 1 risk-based capital ratio
  • 14.81%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $468,237Average earning assets
  • $41,053Average equity
  • $423,577Average loans

List of branches

  • 1 Tennessee Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    9453127Johnson City Branch709 Medtech Pkwy, Johnson City, TN 37604January 23, 2006Full Service Brick and Mortar
  • 11 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    015162Trupoint Bank20089 Riverside Drive, Grundy, VA 24614January 02, 1975Full Service Brick and Mortar
    1253680Anchorage Branch1101 Anchorage Shopping Center, Vansant, VA 24656January 19, 1976Full Service Brick and Mortar
    2253681Richlands Branch1425 Second Street, Richlands, VA 24641May 08, 1989Full Service Brick and Mortar
    3253682Walnut Street Branch1009 Walnut Street, Grundy, VA 24614August 17, 1991Full Service Brick and Mortar
    4253683Bristol Branch1897 Lee Highway, Bristol, VA 24201March 01, 1995Full Service Brick and Mortar
    5253684West Abingdon Branch914 West Main Street, Abingdon, VA 24210August 14, 1995Full Service Brick and Mortar
    6253685Oakwood Branch10881 Riverside Drive, Oakwood, VA 24631March 18, 1996Full Service Brick and Mortar
    7212904St. Paul Branch28 Russell Street, St. Paul, VA 24283September 14, 1965Full Service Brick and Mortar
    8212891Lebanon Branch116 South East Main St, Lebanon, VA 24266April 27, 1964Full Service Brick and Mortar
    10468962Claypool Hill Branch1320 Government Gc Peery Highway, Pounding Mill, VA 24637October 24, 2007Full Service Brick and Mortar
    11492704East Abingdon Branch600 East Main Street, Abingdon, VA 24212May 13, 2009Full Service Brick and Mortar

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