Bank of Virginia

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Overview

FDIC Cert 57627
Address
11730 Hull Street Road, Midlothian, VA 23112
FDIC Unique Number 418778
Federal Reserve ID 3198421
Federal Reserve ID for Bank Holding Company 4129002
OCC Charter Number 0
OTS Docket Number Not available or not applicable
MSA Richmond-Petersburg, VA
County Chesterfield
Website http://www.bankofva.com
Established On 01/12/2004
Insured On 01/12/2004
Holding Company Cordia Bancorp, Inc.
Regulator Federal Reserve Board
Asset Concentration Commercial Lending Specialization
Ownership Type
Domestic Offices 6
Foreign Offices
Bank Charter Class SM - Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)

Recent Changes

Financial Snapshot

USD, Thousands
Total Assets 348,273
Total Deposits 290,653
Domestic Deposits 290,653
Bank Equity Capital 27,067
Year to Date Quarterly
Net Income USD, 000 1,264 321
Return on Assets 0.51% 0.37%
Return on Equity 6.39% 4.8%
Pre-Tax Return on Assets 0.51% 0.37%
as of 09/30/2015

Financial Health

As of 09/30/2015
Medium Risk

The Texas ratio is a measure of a bank's credit troubles. It is a way to measure how risky a bank is. The higher the Texas ratio, the more severe the credit troubles. Any bank with a TX Ratio near or greater than 100% is considered at risk. Developed by Gerard Cassidy and others at RBC Capital Markets, it is calculated by dividing the value of the lender's non-performing assets (Non performing loans + Real Estate Owned) by the sum of its tangible common equity capital and loan loss reserves.

Bank of Virginia has a texas ratio of 45.13 which puts it at medium risk. As of 09/30/2015 the bank had $10,863 Non Current Loans and Leases, $1,761 Other Real Estate Owned, $27,067 Total Equity Capital and $903 Loan Loss Allowance.

Historical Texas Ratios

Date Non Current Loans and Leases Other Real Estate Owned Total Equity Capital Loan Loss Allowance TX Ratio
09/30/2015 $10,863 $1,761 $27,067 $903 45.13
06/30/2015 $11,385 $1,769 $26,584 $990 47.7
03/31/2015 $11,665 $1,647 $26,460 $1,102 48.3
12/31/2014 $13,600 $1,641 $25,621 $1,089 57.06
09/30/2014 $13,869 $1,543 $25,370 $1,226 57.95
06/30/2014 $12,942 $1,543 $25,139 $1,407 54.57
03/31/2014 $22,154 $1,543 $13,750 $1,504 155.35
12/31/2013 $21,714 $1,545 $13,882 $1,489 151.32
09/30/2013 $23,739 $1,545 $13,597 $1,516 167.3
06/30/2013 $7,721 $1,768 $13,488 $1,562 63.05
03/31/2013 $8,144 $1,768 $13,300 $1,583 66.6
12/31/2012 $5,560 $1,768 $15,009 $3,278 40.07
09/30/2012 $6,367 $1,633 $15,276 $4,122 41.24
06/30/2012 $6,873 $1,633 $12,893 $4,539 48.8
03/31/2012 $7,364 $1,682 $12,751 $5,367 49.93
12/31/2011 $9,112 $1,260 $12,666 $5,672 56.56
09/30/2011 $16,866 $1,168 $13,414 $7,145 87.72
06/30/2011 $9,133 $1,986 $14,071 $8,843 48.52
03/31/2011 $10,334 $2,173 $15,214 $7,671 54.65
12/31/2010 $7,010 $551 $16,979 $6,832 31.75
09/30/2010 $7,635 $366 $12,180 $5,329 45.7
06/30/2010 $9,714 $202 $16,844 $5,088 45.21
03/31/2010 $7,722 $359 $16,816 $4,932 37.16
12/31/2009 $6,176 $579 $17,196 $5,222 30.13
09/30/2009 $5,065 $308 $14,454 $4,477 28.38
06/30/2009 $5,242 $308 $13,622 $4,690 30.31
03/31/2009 $3,197 $308 $16,784 $3,013 17.7

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Assets and Liabilities

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
Total employees (full-time equivalent) 54 50 52 55 53 Chart
Total Assets 348,273 343,101 324,565 318,861 300,970 Chart
Cash & Balances due from depository institutions 25,404 19,347 33,094 21,844 11,916 Chart
Interest-bearing balances 15,970 7,593 23,495 16,363 6,130 Chart
Securities 75,001 85,532 61,543 74,199 75,844 Chart
Federal funds sold and reverse repurchase 0 0 0 0 0 Chart
Net loans and leases 227,971 224,970 218,768 211,870 203,092 Chart
Loan loss allowance 903 990 1,102 1,089 1,226 Chart
Trading account assets 0 0 0 0 0 Chart
Bank premises and fixed assets 6,034 6,258 4,402 4,432 4,496 Chart
Other real estate owned 1,761 1,769 1,647 1,641 1,543 Chart
Goodwill and other intangibles 85 86 95 104 113 Chart
All other assets 12,017 5,139 5,016 4,771 3,966 Chart
Total Liabilities and Capital 348,273 343,101 324,565 318,861 300,970 Chart
Total Liabilities 321,206 316,517 298,105 293,240 275,600 Chart
Total deposits 290,653 286,059 267,052 267,379 254,723 Chart
Interest-bearing deposits 262,480 254,569 239,134 235,775 229,390 Chart
Deposits held in domestic offices 290,653 286,059 267,052 267,379 254,723 Chart
% insured (estimated) 78% 77% 81% 79% 82% Chart
Federal funds purchased and repurchase agreements 0 0 0 0 0 Chart
Trading liabilities 0 0 0 0 0 Chart
Other borrowed funds 30,000 30,000 30,000 25,000 20,000 Chart
Subordinated debt 0 0 0 0 0 Chart
All other liabilities 553 458 1,053 861 877 Chart
Total equity capital 27,067 26,584 26,460 25,621 25,370 Chart
Bank equity capital 27,067 26,584 26,460 25,621 25,370 Chart
Perpetual preferred stock 0 0 0 0 0 Chart
Common stock 3,245 3,245 3,245 3,245 3,245 Chart
Surplus 45,461 45,461 45,461 45,461 45,461 Chart
Undivided profits -21,639 -22,122 -22,246 -23,085 -23,336 Chart
Equity, minor interest in consolidated subs 0 0 0 0 0 Chart
Memoranda
Noncurrent loans and leases 10,863 11,385 11,665 13,600 13,869 Chart
Noncurrent loans which are wholly or partially guaranteed by the U.S. 8,888 9,468 9,557 11,379 12,546 Chart
Income earned, not collected on loans 1,924 2,033 1,986 2,040 1,902 Chart
Earning assets 318,942 318,095 303,806 302,432 285,066 Chart
Long-term assets (5+ years) 95,313 93,374 75,840 85,614 85,236 Chart
Average total assets 333,660 328,842 321,713 285,365 276,991 Chart
Average assets, quarterly 345,607 333,833 321,713 309,916 298,248 Chart
Total risk weighted assets adjusted 201,261 191,800 179,552 174,476 166,457 Chart
Adjusted average assets for leverage capital purposes 347,108 327,493 321,552 315,261 295,779 Chart
Life insurance assets 0 0 0 0 0 Chart
General account life insurance assets 0 0 0 0 0 Chart
Separate account life insurance assets 0 0 0 0 0 Chart
Hybrid life insurance assets 0 0 0 0 0 Chart
Volatile liabilities 20,911 21,162 11,417 9,658 9,898 Chart
Insider loans 5,039 5,172 5,197 5,223 5,248 Chart
FHLB advances 30,000 30,000 30,000 25,000 20,000 Chart
Loans and leases held for sale 109 96 117 0 0 Chart
Unused loan commitments 22,736 16,428 16,506 15,110 19,585 Chart
Tier one (core) capital 27,319 27,159 26,588 25,985 25,758 Chart
Tier 2 Risk-based capital 903 990 1,102 1,089 1,226 Chart
Total unused commitments 22,736 16,428 16,506 15,110 19,585 Chart
Derivatives 0 0 0 0 0 Chart

Income and Expenses

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
Total interest income 8,017 5,268 2,553 10,216 7,558 Chart
Total interest expense 1,708 1,106 543 1,991 1,464 Chart
Net interest income 6,309 4,162 2,010 8,225 6,094 Chart
Provision for loan and lease losses -330 -264 -340 305 123 Chart
Total noninterest income 290 196 99 289 206 Chart
Gross Fiduciary activities income 0 0 0 0 0 Chart
Service charges on deposit accounts 97 61 30 127 92 Chart
Trading account gains and fees 0 0 0 0 0 Chart
Additional Noninterest Income 193 135 69 162 114 Chart
Total noninterest expense 5,801 3,632 2,041 8,063 6,133 Chart
Salaries and employee benefits 3,041 2,095 1,147 4,312 3,351 Chart
Premises and equipment expense 383 25 208 814 613 Chart
Additional noninterest expense 2,377 1,512 686 2,937 2,169 Chart
Pre-tax net operating income 1,128 990 408 146 44 Chart
Securities gains (losses) 136 114 114 177 61 Chart
Applicable income taxes 0 0 0 0 0 Chart
Income before extraordinary items 1,264 1,104 522 323 105 Chart
Extraordinary gains, net 0 0 0 0 0 Chart
Net income 1,264 1,104 522 323 105 Chart
Minority interest net income 0 0 0 0 0 Chart
Net income of bank and minority interests 1,264 1,104 522 323 105 Chart
Net charge-offs -144 -165 -353 705 386 Chart
Cash dividends 0 0 0 0 0 Chart
Sale, conversion, retirement of capital stock, net 0 0 0 0 0 Chart
Net operating income 1,128 990 408 146 44 Chart

Securities

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
Total securities 75,001 85,532 61,543 74,199 75,844 Chart
U.S. Government securities 75,001 85,532 61,543 74,199 75,844 Chart
U.S. Treasury securities 0 0 0 0 0 Chart
U.S. Government agency obligations 75,001 85,532 61,543 74,199 75,844 Chart
Securities issued by states & political subdivisions 0 0 0 0 0 Chart
Other domestic debt securities 0 0 0 0 0 Chart
Privately issued residential mortgage-backed securities 0 0 0 0 0 Chart
Commercial mortgage-backed securities - Total 0 0 0 0 0 Chart
Asset backed securities 0 0 0 0 0 Chart
Structured financial products - Total 0 0 0 0 0 Chart
Other domestic debt securities - All other 0 0 0 0 0 Chart
Foreign debt securities 0 0 0 0 0 Chart
Equity securities 0 0 0 0 0 Chart
Assets held in trading accounts for TFR Reporters 0 0 0 0 0 Chart
General valuation allowances for securities for TFR Reporters 0 0 0 0 0 Chart
Memoranda
Pledged securities 31,553 30,296 25,927 12,352 13,561 Chart
Mortgage-backed securities 72,807 82,133 58,096 70,480 69,847 Chart
Certificates of participation in pools of residential mortgages 17,830 18,605 17,120 19,785 14,302 Chart
Issued or guaranteed by U.S. 17,830 18,605 17,120 19,785 14,302 Chart
Privately issued 0 0 0 0 0 Chart
Collaterized mortgage obligations 49,806 58,181 35,312 44,977 49,792 Chart
CMOs issued by government agencies or sponsored agencies 49,806 58,181 35,312 44,977 49,792 Chart
Privately issued 0 0 0 0 0 Chart
Commercial mortgage-backed securities 5,171 5,347 5,664 5,718 5,753 Chart
Commercial mortgage pass-through securities 3,649 3,665 3,681 3,696 3,712 Chart
Other commercial mortgage-backed securities 1,522 1,682 1,983 2,022 2,041 Chart
Held to maturity securities (book value) 26,281 27,087 20,132 20,716 21,264 Chart
Available-for-sale securities (fair market value) 48,720 58,445 41,411 53,483 54,580 Chart
Total debt securities 75,002 85,533 61,542 74,199 75,842 Chart
Structured Notes
Amortized cost 0 0 0 0 0 Chart
Fair value 0 0 0 0 0 Chart
Trading account assets 0 0 0 0 0 Chart
Revaluation gains on off-balance sheet contracts 0 0 0 0 0 Chart
Revaluation losses on off-balance sheet contracts 0 0 0 0 0 Chart

Performance and Condition Ratios

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
% of unprofitable institutions N/A N/A N/A N/A N/A Chart
% of insitutions with earnings gains N/A N/A N/A N/A N/A Chart
Performance Ratios (%, annualized)
Yield on earning assets 3.44% 3.42% 3.37% 3.79% 3.86% Chart
Cost of funding earning assets 0.73% 0.72% 0.72% 0.74% 0.75% Chart
Net interest margin 2.71% 2.70% 2.65% 3.05% 3.11% Chart
Noninterest income to average assets 0.12% 0.12% 0.12% 0.10% 0.10% Chart
Noninterest expense to average assets 2.32% 2.21% 2.54% 2.83% 2.95% Chart
Loan and lease loss provision to assets -0.13% -0.16% -0.42% 0.11% 0.06% Chart
Net operating income to assets 0.45% 0.60% 0.51% 0.05% 0.02% Chart
Return on assets (ROA) 0.51% 0.67% 0.65% 0.11% 0.05% Chart
Pretax return on assets 0.51% 0.67% 0.65% 0.11% 0.05% Chart
Return on Equity (ROE) 6.39% 8.42% 8.02% 1.56% 0.72% Chart
Retained earnings to average equity (YTD only) 6.39% 8.42% 8.02% 1.56% 0.72% Chart
Net charge-offs to loans -0.09% -0.15% -0.65% 0.35% 0.26% Chart
Credit loss provision to net charge-offs 229.17% 160.00% 96.32% 43.26% 31.87% Chart
Earnings coverage of net charge-offs (x) 0.00% 0.00% 0.00% 0.64% 0.43% Chart
Efficiency ratio 87.91% 83.34% 96.78% 94.70% 97.35% Chart
Assets per employee ($millions) 6.45% 6.86% 6.24% 5.80% 5.68% Chart
Cash dividends to net income (YTD only) 0.00% 0.00% 0.00% 0.00% 0.00% Chart
Condition Ratios (%)
Loss allowance to loans 0.39% 0.44% 0.50% 0.51% 0.60% Chart
Loan loss allowance to noncurrent loans 8.31% 8.70% 9.45% 8.01% 8.84% Chart
Noncurrent assets plus other real estate owned to assets 3.62% 3.83% 4.10% 4.78% 5.12% Chart
Noncurrent loans to loans 4.75% 5.04% 5.31% 6.39% 6.79% Chart
Net loans and leases to total assets 65.46% 65.57% 67.40% 66.45% 67.48% Chart
Net loans and leases to deposits 78.43% 78.64% 81.92% 79.24% 79.73% Chart
Net loans and leases to core deposits 96.72% 83.39% 85.62% 82.25% 82.99% Chart
Total domestic deposits to total assets 83.46% 83.37% 82.28% 83.85% 84.63% Chart
Equity capital to assets 7.77% 7.75% 8.15% 8.04% 8.43% Chart
Core capital (leverage) ratio 7.87% 8.29% 8.27% 8.24% 8.71% Chart
Tier 1 risk-based capital ratio 13.57% 14.16% 14.81% 14.89% 15.47% Chart
Total risk-based capital ratio 14.02% 14.68% 15.42% 15.52% 16.21% Chart
Memoranda
Average total assets 333,660 328,842 321,713 285,365 276,991 Chart
Average earning assets 310,819 308,111 303,119 269,561 261,344 Chart
Average equity 26,393 26,222 26,041 20,752 19,535 Chart
Average loans 221,916 219,596 216,415 200,130 196,923 Chart