WashingtonFirst Bank in Reston, Virginia (VA), DC, MD
Overview, Financial Summary, Detailed Financial Reports, Branches

  • WashingtonFirst Bank in Reston, Virginia (VA), DC, MD
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WashingtonFirst Bank - Overview

  • General
  • FDIC Certificate #: 57696
    Status: Active
    Federal Reserve ID: 3253571
    Bank Holding Company (Regulatory Top Holder): Washingtonfirst Bankshares, Inc. (RSSDID: 3922466, Location: Reston, VA)
    Date Established: April 16, 2004
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 10 (Domestic: 10, Interstate: Yes)
    FDIC's unique #: 420126
    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: April 16, 2004
    Last Structure Change Effective Date: April 28, 2008
    Last Structure Change Process Date: May 30, 2008
    Last Data Update: May 30, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 11636 Plaza America Drive, Reston, VA 20190
    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
  • Name Change
    Change in Geographic Region/Area/Territory/Field Office
    Change in Location
  • Financial Summary
  • Total assets: $559.4 mil
    Equity capital: $49.3 mil
    Deposits held in domestic offices: $483.4 mil
    Return on assets (ROA): 0.56% ($3.1 mil)
    Quarterly return on assets: 0.52% ($2.9 mil)
    Return on Equity (ROE): 6.20% ($3.0 mil)
    Quarterly return on equity: 5.76% ($2.8 mil)
    Net income: $2.8 mil
    Quarterly Net income: $0.7 mil
    Pretax return on assets: 0.92% ($5,146.6 mil)
    Quarterly Pretax return on assets: 0.85% ($4,755.0 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
  • 76Total employees (full-time equivalent)
  • $559,411Total assets
  • $71,723Cash and due from depository institutions
  • $70,163Interest-bearing balances
  • $57,336Securities
  • $598Federal funds sold & reverse repurchase agreements
  • $415,005Net loans & leases
  • $4,932Loan loss allowance
  • $0Trading account assets
  • $2,492Bank premises and fixed assets
  • $858Other real estate owned
  • $3,601Goodwill and other intangibles
  • $559,411Life insurance assets
  • $7,798All other assets
  • $510,092Total liabilities and capital
  • $483,405Total liabilities
  • $342,040Total deposits
  • $483,405Interest-bearing deposits
  • $84Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $24,350Trading liabilities
  • $0Other borrowed funds
  • $2,337Subordinated debt
  • $49,319All other liabilities
  • $49,319Total equity capital
  • $49,319Total bank equity capital
  • $3,451Perpetual preferred stock
  • $12,062Common stock
  • $30,195Surplus
  • $3,611Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,078Income earned, not collected on loans
  • $0Earning assets
  • $1,722Long-term assets (5+ years)
  • $543,102Average Assets, year-to-date
  • $108,743Average Assets, quarterly
  • $501,274Volatile liabilities
  • $541,215Insider loans
  • $447,225FHLB advances
  • $526,925Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $43,865Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $79,686Restructured Loans and leases
  • $19,470Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $24,735Total interest income
  • $5,049Total interest expense
  • $19,686Net interest income
  • $2,301Provision for loan and lease losses
  • $793Total noninterest income
  • $0Fiduciary activities
  • $631Service charges on deposit accounts
  • $0Trading account gains & fees
  • $162Additional noninterest income
  • $13,576Total noninterest expense
  • $7,656Salaries and employee benefits
  • $2,292Premises and equipment expense
  • $3,628Additional noninterest expense
  • $4,602Pre-tax net operating income
  • $12Securities gains (losses)
  • $1,787Applicable income taxes
  • $2,827Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,827Net income attributable to bank
  • $0Net charge-offs
  • $2,827Cash dividends
  • $816Sale, conversion, retirement of capital stock, net
  • $554Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.11%Yield on earning assets
  • 1.04%Cost of funding earning assets
  • 4.07%Net interest margin
  • 0.16%Noninterest income to earning assets
  • 2.81%Noninterest expense to earning assets
  • 0.56%Net operating income to assets
  • 0.56%Return on assets (ROA)
  • 0.92%Pretax return on assets
  • 6.20%Return on equity (ROE)
  • 4.99%Retained earnings to average equity (YTD only)
  • 0.22%Net charge-offs to loans
  • 281.99%Credit loss provision to net charge-offs
  • 8.46%Efficiency ratio
  • 66,292Assets per employee
  • 7.36%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 19.60%Loss allowance to loans
  • 1.17%Loss allowance to noncurrent loans
  • 160.23%Noncurrent assets plus other real estate owned to assets
  • 0.72%Noncurrent loans to loans
  • 0.73%Net loans and leases to deposits
  • 85.85%Net loans and leases to core deposits
  • 102.29%Equity capital to assets
  • 8.82%Core capital (leverage) ratio
  • 8.32%Tier 1 risk-based capital ratio
  • 9.81%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $501,274Average earning assets
  • $45,582Average equity
  • $483,890Average loans

List of branches

  • 3 District Of Columbia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    1288392Connecticut Avenue Branch1025 Connecticut Avenue, N.W., 1st Floor, Washington, DC 20036October 09, 1998Full Service Brick and Mortar
    43910919th Street Branch1146 - 19th Street, N.W., Washington, DC 20036Febuary 18, 1988Full Service Brick and Mortar
    9475501K Street Branch1500 K Street, Nw, Washington, DC 20006April 28, 2008Full Service Brick and Mortar
  • 3 Maryland Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    555327Oxon Hill Branch6089 Oxon Hill Road, Oxon Hill, MD 20745November 18, 1994Full Service Brick and Mortar
    7422575Greenbelt Branch6329 Greenbelt Road, College Park, MD 20740March 17, 1997Full Service Brick and Mortar
    10510431Bethesda Branch7708 Woodmont Avenue, Bethesda, MD 20814May 12, 2010Full Service Retail
  • 4 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0420126Washingtonfirst Bank11636 Plaza America Drive, Reston, VA 20190April 16, 2004Full Service Brick and Mortar
    2433854Sterling Branch46901 Cedar Lakes Plaza, Sterling, VA 20164September 21, 1999Full Service Brick and Mortar
    8468205Great Falls Branch9851 Georgetown Pike, Great Falls, VA 22066September 12, 2007Full Service Brick and Mortar
    11516704Fairfax Branch10777 Main Street, Fairfax, VA 22030August 18, 2010Full Service Brick and Mortar

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