Virginia Company Bank in Newport News, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Virginia Company Bank in Newport News, Virginia (VA)
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Virginia Company Bank - Overview

  • General
  • FDIC Certificate #: 58147
    Status: Active
    Federal Reserve ID: 3383366
    Date Established: October 31, 2005
    WWW: http://www.vacompanybank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    FDIC's unique #: 440499
    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: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: October 31, 2005
    Last Structure Change Effective Date: April 16, 2010
    Last Structure Change Process Date: May 12, 2010
    Last Data Update: May 12, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 601 Thimble Shoals Boulevard, Suite 201, Newport News, VA 23606
    County: Newport News 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): Norfolk-Virginia Beach-Newport News, VA-NC (#5720)
    Core Based Statistical Area (CBSA): Virginia Beach-Norfolk-Newport News, VA-NC (#47260)
    CBSA Metro Statistical Area: Virginia Beach-Norfolk-Newport News, VA-NC (#47260)
  • Financial Summary
  • Total assets: $131.6 mil
    Equity capital: $14.1 mil
    Deposits held in domestic offices: $107.3 mil
    Return on assets (ROA): 0.08% ($0.1 mil)
    Quarterly return on assets: 0.13% ($0.2 mil)
    Return on Equity (ROE): 0.72% ($0.1 mil)
    Quarterly return on equity: 1.28% ($0.2 mil)
    Net income: $0.1 mil
    Quarterly Net income: $0.0 mil
    Pretax return on assets: 0.08% ($105.3 mil)
    Quarterly Pretax return on assets: 0.13% ($171.0 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
  • 33Total employees (full-time equivalent)
  • $131,564Total assets
  • $6,538Cash and due from depository institutions
  • $5,077Interest-bearing balances
  • $13,438Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $101,327Net loans & leases
  • $1,487Loan loss allowance
  • $0Trading account assets
  • $5,942Bank premises and fixed assets
  • $140Other real estate owned
  • $0Goodwill and other intangibles
  • $131,564Life insurance assets
  • $4,179All other assets
  • $117,505Total liabilities and capital
  • $107,259Total liabilities
  • $96,229Total deposits
  • $107,259Interest-bearing deposits
  • $85Deposits held in domestic offices
  • 707.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $9,090Trading liabilities
  • $0Other borrowed funds
  • $449Subordinated debt
  • $14,059All other liabilities
  • $14,059Total equity capital
  • $14,059Total bank equity capital
  • $4,752Perpetual preferred stock
  • $7,666Common stock
  • $7,827Surplus
  • $-6,186Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,416Income earned, not collected on loans
  • $0Earning assets
  • $452Long-term assets (5+ years)
  • $119,842Average Assets, year-to-date
  • $15,033Average Assets, quarterly
  • $127,012Volatile liabilities
  • $135,962Insider loans
  • $118,120FHLB advances
  • $137,041Loans and leases held for sale
  • $2,503Unused loan commitments
  • $2,503Tier 1 (core) risk-based capital
  • $13,727Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $18,313Restructured Loans and leases
  • $9,483Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,235Total interest income
  • $1,363Total interest expense
  • $4,872Net interest income
  • $397Provision for loan and lease losses
  • $180Total noninterest income
  • $0Fiduciary activities
  • $67Service charges on deposit accounts
  • $0Trading account gains & fees
  • $113Additional noninterest income
  • $4,554Total noninterest expense
  • $2,461Salaries and employee benefits
  • $896Premises and equipment expense
  • $1,197Additional noninterest expense
  • $101Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $101Income before extraordinary items
  • $0Extraordinary gains - net
  • $101Net income attributable to bank
  • $0Net charge-offs
  • $101Cash dividends
  • $270Sale, conversion, retirement of capital stock, net
  • $248Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.34%Yield on earning assets
  • 1.17%Cost of funding earning assets
  • 4.17%Net interest margin
  • 0.15%Noninterest income to earning assets
  • 3.90%Noninterest expense to earning assets
  • 0.08%Net operating income to assets
  • 0.08%Return on assets (ROA)
  • 0.08%Pretax return on assets
  • 0.72%Return on equity (ROE)
  • -1.05%Retained earnings to average equity (YTD only)
  • 0.27%Net charge-offs to loans
  • 147.04%Credit loss provision to net charge-offs
  • 1.84%Efficiency ratio
  • 90,143Assets per employee
  • 3.99%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 245.54%Loss allowance to loans
  • 1.45%Loss allowance to noncurrent loans
  • 105.01%Noncurrent assets plus other real estate owned to assets
  • 1.18%Noncurrent loans to loans
  • 1.38%Net loans and leases to deposits
  • 94.47%Net loans and leases to core deposits
  • 132.04%Equity capital to assets
  • 10.69%Core capital (leverage) ratio
  • 10.02%Tier 1 risk-based capital ratio
  • 11.62%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $127,012Average earning assets
  • $14,032Average equity
  • $116,855Average loans

List of branches

  • 3 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0440499Virginia Company Bank601 Thimble Shoals Boulevard, Suite 201, Newport News, VA 23606October 31, 2005Full Service Brick and Mortar
    1470792Richmond Road Branch1430 Richmond Road, Williamsburg, VA 23185December 03, 2007Full Service Brick and Mortar
    2516210Hampton Branch2198 Coliseum Drive, Hampton, VA 23669January 31, 2011Full Service Brick and Mortar

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