Carter Bank

Report generated from DepositInsuredBanks.com
DepositInsuredBanks.com


Overview

FDIC Cert 58596
Address
4 East Commonwealth Boulevard, Martinsville, VA 24112
FDIC Unique Number 457578
Federal Reserve ID 3476192
Federal Reserve ID for Bank Holding Company 0
OCC Charter Number 0
OTS Docket Number Not available or not applicable
MSA
County Martinsville City
Website
Established On 12/30/2006
Insured On 12/30/2006
Holding Company
Regulator Federal Deposit Insurance Corporation
Asset Concentration Commercial Lending Specialization
Ownership Type
Domestic Offices 123
Foreign Offices
Bank Charter Class NM - Commercial bank, state charter and Fed nonmember, supervised by the FDIC

Recent Changes

Financial Snapshot

USD, Thousands
Total Assets 4,908,264
Total Deposits 4,477,270
Domestic Deposits 4,477,270
Bank Equity Capital 416,882
Year to Date Quarterly
Net Income USD, 000 26,866 9,481
Return on Assets 0.75% 0.78%
Return on Equity 8.8% 9.17%
Pre-Tax Return on Assets 1% 1.04%
as of 09/30/2015

Financial Health

As of 09/30/2015
Low 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.

Carter Bank has a texas ratio of 15.54 which puts it at low risk. As of 09/30/2015 the bank had $25,275 Non Current Loans and Leases, $43,620 Other Real Estate Owned, $416,882 Total Equity Capital and $26,401 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 $25,275 $43,620 $416,882 $26,401 15.54
06/30/2015 $25,101 $43,732 $410,027 $25,754 15.8
03/31/2015 $27,854 $43,528 $403,719 $24,941 16.65
12/31/2014 $26,236 $43,829 $397,894 $24,142 16.6
09/30/2014 $22,612 $43,881 $390,908 $23,477 16.05
06/30/2014 $16,135 $44,389 $385,682 $22,782 14.82
03/31/2014 $20,088 $45,373 $379,846 $22,119 16.29
12/31/2013 $21,432 $44,934 $374,937 $21,392 16.75
09/30/2013 $13,768 $44,643 $371,215 $21,162 14.89
06/30/2013 $12,285 $43,185 $367,261 $20,583 14.3
03/31/2013 $12,991 $42,838 $363,805 $19,895 14.55
12/31/2012 $16,538 $39,882 $359,364 $19,371 14.9
09/30/2012 $14,903 $19,545 $355,721 $18,872 9.2
06/30/2012 $12,009 $19,100 $350,000 $18,308 8.45
03/31/2012 $11,801 $19,169 $345,064 $17,745 8.54
12/31/2011 $16,677 $14,080 $339,521 $17,176 8.62
09/30/2011 $20,124 $13,932 $333,549 $16,572 9.73
06/30/2011 $21,355 $14,398 $328,844 $16,276 10.36
03/31/2011 $14,820 $15,109 $323,694 $15,846 8.81
12/31/2010 $16,456 $14,859 $319,928 $15,443 9.34
09/30/2010 $16,377 $14,956 $317,682 $15,064 9.42
06/30/2010 $16,624 $13,044 $314,129 $14,902 9.02
03/31/2010 $20,948 $12,079 $311,225 $14,611 10.14
12/31/2009 $20,111 $11,971 $307,648 $14,296 9.97
09/30/2009 $20,690 $11,069 $307,056 $14,048 9.89
06/30/2009 $18,148 $10,745 $305,843 $13,827 9.04
03/31/2009 $20,826 $18,864 $304,695 $13,955 12.46

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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) 928 922 921 911 912 Chart
Total Assets 4,908,264 4,796,721 4,701,173 4,629,941 4,678,837 Chart
Cash & Balances due from depository institutions 696,246 491,561 372,984 242,391 321,148 Chart
Interest-bearing balances 658,519 449,487 332,082 201,318 281,693 Chart
Securities 1,450,684 1,597,163 1,751,099 1,828,264 1,854,320 Chart
Federal funds sold and reverse repurchase 0 0 0 0 0 Chart
Net loans and leases 2,511,607 2,462,200 2,318,930 2,296,479 2,238,988 Chart
Loan loss allowance 26,401 25,754 24,941 24,142 23,477 Chart
Trading account assets 0 0 0 0 0 Chart
Bank premises and fixed assets 99,634 100,989 101,141 101,705 102,566 Chart
Other real estate owned 43,620 43,732 43,528 43,829 43,881 Chart
Goodwill and other intangibles 59,836 59,845 60,446 62,308 64,169 Chart
All other assets 46,637 41,231 53,045 54,965 53,765 Chart
Total Liabilities and Capital 4,908,264 4,796,721 4,701,173 4,629,941 4,678,837 Chart
Total Liabilities 4,491,382 4,386,694 4,297,454 4,232,047 4,287,929 Chart
Total deposits 4,477,270 4,373,057 4,284,023 4,213,957 4,271,528 Chart
Interest-bearing deposits 3,982,734 3,898,869 3,809,362 3,755,691 3,825,133 Chart
Deposits held in domestic offices 4,477,270 4,373,057 4,284,023 4,213,957 4,271,528 Chart
% insured (estimated) 84% 84% 85% 85% 84% Chart
Federal funds purchased and repurchase agreements 0 0 0 0 0 Chart
Trading liabilities 0 0 0 0 0 Chart
Other borrowed funds 0 0 0 0 0 Chart
Subordinated debt 0 0 0 0 0 Chart
All other liabilities 14,112 13,637 13,431 18,090 16,401 Chart
Total equity capital 416,882 410,027 403,719 397,894 390,908 Chart
Bank equity capital 416,882 410,027 403,719 397,894 390,908 Chart
Perpetual preferred stock 0 0 0 0 0 Chart
Common stock 26,258 26,258 26,258 26,258 26,258 Chart
Surplus 142,178 142,178 142,178 142,178 142,178 Chart
Undivided profits 248,446 241,591 235,283 229,458 222,472 Chart
Equity, minor interest in consolidated subs 0 0 0 0 0 Chart
Memoranda
Noncurrent loans and leases 25,275 25,101 27,854 26,236 22,612 Chart
Noncurrent loans which are wholly or partially guaranteed by the U.S. 0 0 0 0 0 Chart
Income earned, not collected on loans 22,730 22,440 21,056 20,066 20,618 Chart
Earning assets 4,620,810 4,508,850 4,402,111 4,326,061 4,375,001 Chart
Long-term assets (5+ years) 809,474 799,516 975,784 1,031,292 1,230,944 Chart
Average total assets 4,759,025 4,709,278 4,665,557 4,650,123 4,655,169 Chart
Average assets, quarterly 4,852,492 4,748,947 4,665,557 4,654,389 4,666,087 Chart
Total risk weighted assets adjusted 3,096,980 3,090,415 3,056,227 2,978,659 2,909,677 Chart
Adjusted average assets for leverage capital purposes 4,778,746 4,722,121 4,617,502 4,578,814 4,587,392 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 528,684 513,010 500,466 479,936 453,436 Chart
Insider loans 39,000 39,000 39,000 39,000 39,000 Chart
FHLB advances 0 0 0 0 0 Chart
Loans and leases held for sale 0 0 0 0 0 Chart
Unused loan commitments 255,694 218,963 159,807 88,207 115,505 Chart
Tier one (core) capital 357,046 350,182 342,383 335,339 327,134 Chart
Tier 2 Risk-based capital 16,066 25,754 3,604 24,142 23,477 Chart
Total unused commitments 255,694 218,963 159,807 88,207 115,505 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 113,788 75,731 37,658 146,727 109,617 Chart
Total interest expense 35,233 22,977 11,238 45,330 34,272 Chart
Net interest income 78,555 52,754 26,420 101,397 75,345 Chart
Provision for loan and lease losses 2,475 1,650 825 3,000 2,250 Chart
Total noninterest income 10,498 7,040 3,437 14,604 10,475 Chart
Gross Fiduciary activities income 0 0 0 0 0 Chart
Service charges on deposit accounts 1,647 1,070 512 2,528 1,877 Chart
Trading account gains and fees 0 0 0 0 0 Chart
Additional Noninterest Income 8,851 5,970 2,925 12,076 8,598 Chart
Total noninterest expense 50,853 35,010 17,863 69,716 51,964 Chart
Salaries and employee benefits 27,685 18,348 9,103 36,650 27,325 Chart
Premises and equipment expense 6,071 4,173 2,122 8,070 6,071 Chart
Additional noninterest expense 17,097 12,489 6,638 24,996 18,568 Chart
Pre-tax net operating income 35,725 23,134 11,169 43,285 31,606 Chart
Securities gains (losses) 0 0 0 0 0 Chart
Applicable income taxes 8,859 5,749 2,719 9,825 7,758 Chart
Income before extraordinary items 26,866 17,385 8,450 33,460 23,848 Chart
Extraordinary gains, net 0 0 0 0 0 Chart
Net income 26,866 17,385 8,450 33,460 23,848 Chart
Minority interest net income 0 0 0 0 0 Chart
Net income of bank and minority interests 26,866 17,385 8,450 33,460 23,848 Chart
Net charge-offs 216 38 26 250 165 Chart
Cash dividends 7,878 5,252 2,625 10,503 7,877 Chart
Sale, conversion, retirement of capital stock, net 0 0 0 0 0 Chart
Net operating income 26,866 17,385 8,450 33,460 23,848 Chart

Securities

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
Total securities 1,450,684 1,597,163 1,751,099 1,828,264 1,854,320 Chart
U.S. Government securities 681,403 1,140,417 1,256,709 953,066 968,062 Chart
U.S. Treasury securities 0 0 0 0 0 Chart
U.S. Government agency obligations 681,403 1,140,417 1,256,709 953,066 968,062 Chart
Securities issued by states & political subdivisions 340,811 0 0 358,102 364,537 Chart
Other domestic debt securities 428,470 456,746 494,390 517,096 521,721 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 428,470 456,746 494,390 517,096 521,721 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 681,105 791,136 902,717 445,313 435,294 Chart
Mortgage-backed securities 298 308 319 368 383 Chart
Certificates of participation in pools of residential mortgages 298 308 319 368 383 Chart
Issued or guaranteed by U.S. 298 308 319 368 383 Chart
Privately issued 0 0 0 0 0 Chart
Collaterized mortgage obligations 0 0 0 0 0 Chart
CMOs issued by government agencies or sponsored agencies 0 0 0 0 0 Chart
Privately issued 0 0 0 0 0 Chart
Commercial mortgage-backed securities 0 0 0 0 0 Chart
Commercial mortgage pass-through securities 0 0 0 0 0 Chart
Other commercial mortgage-backed securities 0 0 0 0 0 Chart
Held to maturity securities (book value) 1,450,684 1,597,163 1,751,099 1,828,264 1,854,320 Chart
Available-for-sale securities (fair market value) 0 0 0 0 0 Chart
Total debt securities 1,450,684 1,597,163 1,751,099 1,828,264 1,854,319 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 3.40% 3.43% 3.45% 3.38% 3.36% Chart
Cost of funding earning assets 1.05% 1.04% 1.03% 1.04% 1.05% Chart
Net interest margin 2.35% 2.39% 2.42% 2.34% 2.31% Chart
Noninterest income to average assets 0.29% 0.30% 0.29% 0.31% 0.30% Chart
Noninterest expense to average assets 1.42% 1.49% 1.53% 1.50% 1.49% Chart
Loan and lease loss provision to assets 0.07% 0.07% 0.07% 0.06% 0.06% Chart
Net operating income to assets 0.75% 0.74% 0.72% 0.72% 0.68% Chart
Return on assets (ROA) 0.75% 0.74% 0.72% 0.72% 0.68% Chart
Pretax return on assets 1.00% 0.98% 0.96% 0.93% 0.91% Chart
Return on Equity (ROE) 8.80% 8.61% 8.43% 8.67% 8.31% Chart
Retained earnings to average equity (YTD only) 6.22% 6.01% 5.81% 5.95% 5.56% Chart
Net charge-offs to loans 0.01% 0.00% 0.00% 0.01% 0.01% Chart
Credit loss provision to net charge-offs 1145.83% 4342.11% 3173.08% 1200.00% 1363.64% Chart
Earnings coverage of net charge-offs (x) 176.85% 652.21% 461.31% 185.14% 205.19% Chart
Efficiency ratio 54.33% 54.43% 53.59% 53.68% 54.04% Chart
Assets per employee ($millions) 5.29% 5.20% 5.10% 5.08% 5.13% Chart
Cash dividends to net income (YTD only) 29.32% 30.21% 31.07% 31.39% 33.03% Chart
Condition Ratios (%)
Loss allowance to loans 1.04% 1.04% 1.06% 1.04% 1.04% Chart
Loan loss allowance to noncurrent loans 104.45% 102.60% 89.54% 92.02% 103.83% Chart
Noncurrent assets plus other real estate owned to assets 1.40% 1.44% 1.52% 1.51% 1.42% Chart
Noncurrent loans to loans 1.00% 1.01% 1.19% 1.13% 1.00% Chart
Net loans and leases to total assets 51.17% 51.33% 49.33% 49.60% 47.85% Chart
Net loans and leases to deposits 56.10% 56.30% 54.13% 54.50% 52.42% Chart
Net loans and leases to core deposits 63.61% 63.79% 61.29% 61.50% 58.64% Chart
Total domestic deposits to total assets 91.22% 91.17% 91.13% 91.02% 91.29% Chart
Equity capital to assets 8.49% 8.55% 8.59% 8.59% 8.35% Chart
Core capital (leverage) ratio 7.47% 7.42% 7.41% 7.32% 7.13% Chart
Tier 1 risk-based capital ratio 11.53% 11.33% 11.20% 11.26% 11.24% Chart
Total risk-based capital ratio 12.05% 12.16% 11.32% 12.07% 12.05% Chart
Memoranda
Average total assets 4,759,025 4,709,278 4,665,557 4,650,123 4,655,169 Chart
Average earning assets 4,464,458 4,412,340 4,364,086 4,340,178 4,343,707 Chart
Average equity 407,131 403,880 400,807 385,853 382,843 Chart
Average loans 2,422,614 2,384,149 2,332,246 2,187,631 2,154,384 Chart