West Union Bank in West Union, West Virginia (WV)

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West Union Bank
GeneralFDIC Certificate #: 2452
Status: Active
Federal Reserve ID: 22730
Bank Holding Company (Regulatory Top Holder): Tri-County Bancorp, Inc. (RSSDID: 3068289, Location: West Union, WV)
Date Established: April 01, 1893
WWW: http://www.westunionbank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Domestic: 5, Interstate: No)
FDIC's unique #: 1607
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: January 01, 1934
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
LocationAddress: 105 East Main Street, West Union, WV 26456
County: Doddridge
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Scott Depot
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
Combined Statistical Area (CSA): Fairmont-Clarksburg, WV (#242)
Core Based Statistical Area (CBSA): Clarksburg, WV (#17220)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $116.9 mil
Equity capital: $12.6 mil
Deposits held in domestic offices: $99.8 mil
Return on assets (ROA): 0.63% ($0.7 mil)
Quarterly return on assets: 0.68% ($0.8 mil)
Return on Equity (ROE): 5.72% ($0.7 mil)
Quarterly return on equity: 6.27% ($0.8 mil)
Net income: $0.7 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 0.72% ($841.5 mil)
Quarterly Pretax return on assets: 0.75% ($876.5 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)
Total employees (full-time equivalent)46
Total assets$116,869
Cash and due from depository institutions$10,386
Interest-bearing balances$9,273
Federal funds sold & reverse repurchase agreements$379
Net loans & leases$70,819
Loan loss allowance $711
Trading account assets$0
Bank premises and fixed assets$2,806
Other real estate owned$210
Goodwill and other intangibles$0
All other assets$2,845
Life insurance assets$116,869
Total liabilities and capital$104,253
Total liabilities$99,787
Total deposits$73,181
Interest-bearing deposits$99,787
Deposits held in domestic offices$94
% insured (estimated)3637.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $829
All other liabilities $12,616
Total equity capital$12,616
Total bank equity capital$12,616
Perpetual preferred stock$0
Common stock$250
Undivided profits $12,066
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $1,770
Earning assets $0
Long-term assets (5+ years) $451
Average Assets, year-to-date $109,895
Average Assets, quarterly $48,727
Volatile liabilities $113,196
Insider loans $116,861
FHLB advances $72,361
Loans and leases held for sale $117,483
Unused loan commitments $1,639
Tier 1 (core) risk-based capital $1,639
Tier 2 risk-based capital $12,212
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $5,755
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $4,931
Total interest expense $776
Net interest income $4,155
Provision for loan and lease losses $80
Total noninterest income $742
Fiduciary activities $0
Service charges on deposit accounts $315
Trading account gains & fees $0
Additional noninterest income $427
Total noninterest expense $4,019
Salaries and employee benefits $2,111
Premises and equipment expense $464
Additional noninterest expense $1,444
Pre-tax net operating income $798
Securities gains (losses) $19
Applicable income taxes $107
Income before extraordinary items $710
Extraordinary gains - net $0
Net income attributable to bank $710
Net charge-offs $0
Cash dividends $710
Sale, conversion, retirement of capital stock, net $78
Net operating income $328
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.64%
Cost of funding earning assets 0.73%
Net interest margin 3.91%
Noninterest income to earning assets 0.70%
Noninterest expense to earning assets 3.79%
Net operating income to assets 0.61%
Return on assets (ROA) 0.63%
Pretax return on assets 0.72%
Return on equity (ROE) 5.72%
Retained earnings to average equity (YTD only) 3.08%
Net charge-offs to loans 0.11%
Credit loss provision to net charge-offs 102.56%
Efficiency ratio11.26%
Assets per employee$82,071
Cash dividends to net income (YTD only)2.54%
Condition Ratios (%)
Loss allowance to loans 46.20%
Loss allowance to noncurrent loans 0.99%
Noncurrent assets plus other real estate owned to assets 40.17%
Noncurrent loans to loans 1.69%
Net loans and leases to deposits2.47%
Net loans and leases to core deposits 70.97%
Equity capital to assets 72.31%
Core capital (leverage) ratio 10.79%
Tier 1 risk-based capital ratio 10.39%
Total risk-based capital ratio 16.88%
Average assets$18
Average earning assets$113,196
Average equity $12,408
Average loans $106,162
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5 West Virginia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
01607West Union Bank105 East Main Street, West Union, WV 26456April 01, 1893Full Service Brick and Mortar
1192669Pennsboro Branch101 Eagle Drive, Pennsboro, WV 26415January 17, 1989Full Service Brick and Mortar
2192670Salem Branch1 Westgate Center, Salem, WV 26426July 17, 1986Full Service Brick and Mortar
3364398Harrisville Branch201 E Main Street, Harrisville, WV 26362June 03, 2002Full Service Brick and Mortar
4444327Newpointe Plaza Shopping Center Bran320 Emily Drive, Clarksburg, WV 26301August 22, 2005Full Service Brick and Mortar
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