Virginia Commonwealth Bank in Petersburg, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches


Virginia Commonwealth Bank - Overview

  • General
  • FDIC Certificate #: 29742
    Status: Active
    Federal Reserve ID: 534774
    Bank Holding Company (Regulatory Top Holder): Virginia Bancorp, Inc. (RSSDID: 3776436, Location: Richmond, VA)
    Date Established: August 22, 1936
    WWW: http://www.vacommbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 8 (Domestic: 8, Interstate: No)
    OTS Docket #: 3993
    FDIC's unique #: 42576
    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: August 22, 1936
    Last Structure Change Effective Date: October 01, 2008
    Last Structure Change Process Date: October 28, 2008
    Last Data Update: October 28, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 1965 Wakefield Ave, Petersburg, VA 23805
    County: Petersburg City
    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): Richmond-Petersburg, VA (#6760)
    Core Based Statistical Area (CBSA): Richmond, VA (#40060)
    CBSA Metro Statistical Area: Richmond, VA (#40060)
  • History of Changes
  • Corrections
    Name Change
    Change in Primary Regulatory Agency
    Change in Entity Type
  • Financial Summary
  • Total assets: $285.8 mil
    Equity capital: $24.6 mil
    Deposits held in domestic offices: $260.8 mil
    Return on assets (ROA): -2.78% (-$8.0 mil)
    Quarterly return on assets: -8.20% (-$23.5 mil)
    Return on Equity (ROE): -29.08% (-$7.3 mil)
    Quarterly return on equity: -87.88% (-$22.0 mil)
    Net income: -$8.6 mil
    Quarterly Net income: -$6.1 mil
    Pretax return on assets: -1.64% (-$4,687.9 mil)
    Quarterly Pretax return on assets: -1.73% (-$4,945.1 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
  • 66Total employees (full-time equivalent)
  • $285,845Total assets
  • $15,562Cash and due from depository institutions
  • $11,572Interest-bearing balances
  • $101,277Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $156,874Net loans & leases
  • $5,955Loan loss allowance
  • $0Trading account assets
  • $2,539Bank premises and fixed assets
  • $5,981Other real estate owned
  • $397Goodwill and other intangibles
  • $285,844Life insurance assets
  • $3,215All other assets
  • $261,240Total liabilities and capital
  • $260,775Total liabilities
  • $251,242Total deposits
  • $260,775Interest-bearing deposits
  • $97Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $465Subordinated debt
  • $24,604All other liabilities
  • $24,604Total equity capital
  • $24,604Total bank equity capital
  • $0Perpetual preferred stock
  • $1,500Common stock
  • $3,496Surplus
  • $19,608Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $16,364Income earned, not collected on loans
  • $3,586Earning assets
  • $1,090Long-term assets (5+ years)
  • $269,723Average Assets, year-to-date
  • $107,082Average Assets, quarterly
  • $308,406Volatile liabilities
  • $296,944Insider loans
  • $150,733FHLB advances
  • $298,445Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $24,442Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $16,574Restructured Loans and leases
  • $4Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $12,006Total interest income
  • $4,261Total interest expense
  • $7,745Net interest income
  • $4,050Provision for loan and lease losses
  • -$1,480Total noninterest income
  • $0Fiduciary activities
  • $397Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$1,877Additional noninterest income
  • $8,048Total noninterest expense
  • $4,018Salaries and employee benefits
  • $825Premises and equipment expense
  • $3,205Additional noninterest expense
  • -$5,833Pre-tax net operating income
  • $783Securities gains (losses)
  • $3,519Applicable income taxes
  • -$8,569Income before extraordinary items
  • $0Extraordinary gains - net
  • -$8,569Net income attributable to bank
  • $0Net charge-offs
  • -$8,569Cash dividends
  • $9,513Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.15%Yield on earning assets
  • 1.47%Cost of funding earning assets
  • 2.68%Net interest margin
  • -0.51%Noninterest income to earning assets
  • 2.78%Noninterest expense to earning assets
  • -3.03%Net operating income to assets
  • -2.78%Return on assets (ROA)
  • -1.64%Pretax return on assets
  • -29.08%Return on equity (ROE)
  • -29.08%Retained earnings to average equity (YTD only)
  • 5.30%Net charge-offs to loans
  • 42.57%Credit loss provision to net charge-offs
  • -0.19%Efficiency ratio
  • 128,460Assets per employee
  • 4.33%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.66%Loss allowance to noncurrent loans
  • 36.39%Noncurrent assets plus other real estate owned to assets
  • 7.82%Noncurrent loans to loans
  • 10.05%Net loans and leases to deposits
  • 60.16%Net loans and leases to core deposits
  • 61.47%Equity capital to assets
  • 8.61%Core capital (leverage) ratio
  • 8.19%Tier 1 risk-based capital ratio
  • 16.22%Total risk-based capital ratio
  • Memoranda
  • $18Average assets
  • $308,406Average earning assets
  • $29,471Average equity
  • $289,292Average loans

List of branches

  • 8 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    042576Virginia Commonwealth Bank1965 Wakefield Ave, Petersburg, VA 23805August 22, 1936Full Service Brick and Mortar
    1277030Colonial Heights Branch3209 Boulevard, Colonial Heights, VA 23834August 22, 1936Full Service Brick and Mortar
    1002770314600 West Hundred Road Branch4600 West Hundred Road, Chester, VA 23831August 22, 1936Full Service Brick and Mortar
    102277032Bonniebank Road Branch4222 Bonniebank Road, Richmond, VA 23234June 30, 1985Full Service Brick and Mortar
    1032770331703 N Main Street Branch1703 N Main Street, Suffolk, VA 23434June 30, 1987Full Service Brick and Mortar
    105277035North Ridge Road Branch405 North Ridge Road, Richmond, VA 23229November 03, 1995Full Service Brick and Mortar
    106360553Courthouse Road Branch1118 Courthouse Road, Richmond, VA 23236April 16, 2001Full Service Brick and Mortar
    107461425Hopewell County Branch1421 W. City Point Rd, Hopewell, VA 23860June 30, 2006Full Service Brick and Mortar

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