The Old Point National Bank of Phoebus

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Overview

FDIC Cert 6892
Address
1 West Mellen Street, Hampton, VA 23663
FDIC Unique Number 4631
Federal Reserve ID 186221
Federal Reserve ID for Bank Holding Company 1076673
OCC Charter Number 12267
OTS Docket Number 12252
MSA Norfolk-Virginia Beach-Newport News, VA-NC
County Hampton City
Website http://www.oldpoint.com
Established On 11/04/1922
Insured On 01/01/1934
Holding Company Old Point Financial Corporation
Regulator Office of the Comptroller of the Currency
Asset Concentration Commercial Lending Specialization
Ownership Type
Domestic Offices 22
Foreign Offices
Bank Charter Class N - Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)

Recent Changes

Merge BIF and SAIF Funds into DIF

Financial Snapshot

USD, Thousands
Total Assets 873,986
Total Deposits 731,463
Domestic Deposits 731,463
Bank Equity Capital 83,052
Year to Date Quarterly
Net Income USD, 000 3,081 861
Return on Assets 0.47% 0.39%
Return on Equity 5% 4.17%
Pre-Tax Return on Assets 0.49% 0.38%
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.

The Old Point National Bank of Phoebus has a texas ratio of 9.82 which puts it at low risk. As of 09/30/2015 the bank had $4,854 Non Current Loans and Leases, $4,033 Other Real Estate Owned, $83,052 Total Equity Capital and $7,419 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 $4,854 $4,033 $83,052 $7,419 9.82
06/30/2015 $6,693 $4,961 $81,935 $7,397 13.05
03/31/2015 $6,169 $5,085 $82,152 $7,411 12.57
12/31/2014 $6,711 $5,106 $81,518 $7,075 13.34
09/30/2014 $9,133 $5,420 $80,473 $7,025 16.63
06/30/2014 $11,582 $6,549 $79,611 $6,976 20.94
03/31/2014 $11,491 $6,253 $76,904 $6,834 21.19
12/31/2013 $11,870 $6,415 $74,738 $6,831 22.42
09/30/2013 $9,918 $6,888 $74,129 $6,980 20.72
06/30/2013 $9,539 $6,559 $76,523 $7,296 19.21
03/31/2013 $10,118 $6,021 $82,358 $7,259 18.01
12/31/2012 $11,079 $6,573 $83,611 $7,324 19.41
09/30/2012 $11,158 $6,842 $84,821 $7,301 19.54
06/30/2012 $9,079 $7,232 $81,899 $7,671 18.21
03/31/2012 $13,848 $7,439 $80,587 $8,087 24.01
12/31/2011 $8,992 $9,390 $80,605 $8,498 20.63
09/30/2011 $13,056 $11,038 $80,086 $9,752 26.82
06/30/2011 $9,743 $10,797 $78,805 $9,974 23.14
03/31/2011 $22,187 $11,164 $75,916 $10,284 38.69
12/31/2010 $20,954 $11,448 $75,487 $13,228 36.52
09/30/2010 $23,879 $10,140 $77,597 $12,105 37.92
06/30/2010 $19,338 $9,884 $76,462 $11,707 33.14
03/31/2010 $17,800 $7,571 $74,918 $11,144 29.48
12/31/2009 $5,306 $7,624 $76,108 $7,864 15.4
09/30/2009 $8,038 $8,486 $77,063 $7,754 19.48
06/30/2009 $7,142 $8,032 $76,286 $7,275 18.16
03/31/2009 $12,349 $4,059 $77,272 $7,014 19.47

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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) 252 254 256 260 271 Chart
Total Assets 873,986 888,344 882,771 871,691 860,577 Chart
Cash & Balances due from depository institutions 13,214 20,023 27,741 31,914 25,490 Chart
Interest-bearing balances 505 339 697 833 465 Chart
Securities 209,460 213,483 220,458 225,439 230,346 Chart
Federal funds sold and reverse repurchase 1,595 1,033 2,130 1,391 1,647 Chart
Net loans and leases 563,038 564,142 547,824 528,919 518,265 Chart
Loan loss allowance 7,419 7,397 7,411 7,075 7,025 Chart
Trading account assets 0 0 0 0 0 Chart
Bank premises and fixed assets 41,339 41,805 42,356 42,023 42,329 Chart
Other real estate owned 4,033 4,961 5,085 5,106 5,420 Chart
Goodwill and other intangibles 0 0 0 0 0 Chart
All other assets 41,307 42,897 37,177 36,899 37,080 Chart
Total Liabilities and Capital 873,986 888,344 882,771 871,691 860,577 Chart
Total Liabilities 790,934 806,409 800,619 790,173 780,104 Chart
Total deposits 731,463 725,789 730,216 718,370 716,602 Chart
Interest-bearing deposits 532,804 538,695 535,730 530,374 532,178 Chart
Deposits held in domestic offices 731,463 725,789 730,216 718,370 716,602 Chart
% insured (estimated) 82% 82% 84% 83% 84% Chart
Federal funds purchased and repurchase agreements 26,928 28,406 36,769 38,516 31,286 Chart
Trading liabilities 0 0 0 0 0 Chart
Other borrowed funds 25,000 45,000 30,000 30,000 30,000 Chart
Subordinated debt 0 0 0 0 0 Chart
All other liabilities 7,543 7,214 3,634 3,287 2,216 Chart
Total equity capital 83,052 81,935 82,152 81,518 80,473 Chart
Bank equity capital 83,052 81,935 82,152 81,518 80,473 Chart
Perpetual preferred stock 0 0 0 0 0 Chart
Common stock 1,366 1,366 1,366 1,366 1,366 Chart
Surplus 1,463 1,463 1,463 1,463 1,463 Chart
Undivided profits 80,223 79,106 79,323 78,689 77,644 Chart
Equity, minor interest in consolidated subs 0 0 0 0 0 Chart
Memoranda
Noncurrent loans and leases 4,854 6,693 6,169 6,711 9,133 Chart
Noncurrent loans which are wholly or partially guaranteed by the U.S. 3,164 2,851 1,386 1,022 1,143 Chart
Income earned, not collected on loans 2,964 3,218 2,587 2,688 2,598 Chart
Earning assets 774,598 778,997 771,109 756,582 750,723 Chart
Long-term assets (5+ years) 322,053 331,930 337,228 332,771 337,602 Chart
Average total assets 879,198 880,935 877,231 862,611 860,342 Chart
Average assets, quarterly 881,165 885,558 877,231 866,134 858,283 Chart
Total risk weighted assets adjusted 694,035 698,021 692,421 653,674 648,572 Chart
Adjusted average assets for leverage capital purposes 878,033 883,844 873,327 873,509 863,290 Chart
Life insurance assets 24,189 23,968 23,745 23,525 23,323 Chart
General account life insurance assets 23,690 23,473 23,254 23,038 22,839 Chart
Separate account life insurance assets 0 0 0 0 0 Chart
Hybrid life insurance assets 499 495 491 487 484 Chart
Volatile liabilities 91,527 114,122 77,674 82,442 75,187 Chart
Insider loans 4,466 4,502 5,699 5,787 5,795 Chart
FHLB advances 25,000 45,000 30,000 30,000 30,000 Chart
Loans and leases held for sale 0 0 0 0 0 Chart
Unused loan commitments 136,915 140,590 134,757 135,579 128,732 Chart
Tier one (core) capital 88,677 88,417 87,807 87,397 86,920 Chart
Tier 2 Risk-based capital 7,419 7,397 7,411 7,075 7,025 Chart
Total unused commitments 136,915 140,590 134,757 135,579 128,732 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 22,624 15,029 7,491 30,239 22,492 Chart
Total interest expense 2,726 1,812 892 3,849 2,945 Chart
Net interest income 19,898 13,217 6,599 26,390 19,547 Chart
Provision for loan and lease losses 250 300 275 600 800 Chart
Total noninterest income 6,139 4,180 1,981 7,236 5,650 Chart
Gross Fiduciary activities income 0 0 0 0 0 Chart
Service charges on deposit accounts 3,008 1,976 982 4,118 3,089 Chart
Trading account gains and fees 0 0 0 0 0 Chart
Additional Noninterest Income 3,131 2,204 999 3,118 2,561 Chart
Total noninterest expense 22,541 14,699 7,274 29,088 21,923 Chart
Salaries and employee benefits 13,263 8,583 4,309 16,761 12,538 Chart
Premises and equipment expense 3,797 2,519 1,273 4,630 3,406 Chart
Additional noninterest expense 5,481 3,597 1,692 7,697 5,979 Chart
Pre-tax net operating income 3,246 2,398 1,031 3,938 2,474 Chart
Securities gains (losses) 0 0 0 2 -7 Chart
Applicable income taxes 165 178 21 68 -53 Chart
Income before extraordinary items 3,081 2,220 1,010 3,872 2,520 Chart
Extraordinary gains, net 0 0 0 0 0 Chart
Net income 3,081 2,220 1,010 3,872 2,520 Chart
Minority interest net income 0 0 0 0 0 Chart
Net income of bank and minority interests 3,081 2,220 1,010 3,872 2,520 Chart
Net charge-offs -94 -22 -61 356 606 Chart
Cash dividends 1,800 1,200 600 2,000 1,125 Chart
Sale, conversion, retirement of capital stock, net 0 0 0 0 0 Chart
Net operating income 3,081 2,220 1,010 3,870 2,527 Chart

Securities

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
Total securities 209,460 213,483 220,458 225,439 230,346 Chart
U.S. Government securities 131,810 136,169 141,529 145,663 150,483 Chart
U.S. Treasury securities 20,000 20,000 6,500 20,000 0 Chart
U.S. Government agency obligations 111,810 116,169 135,029 125,663 150,483 Chart
Securities issued by states & political subdivisions 77,650 77,314 78,929 79,776 79,863 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 126,694 129,746 129,605 134,542 124,279 Chart
Mortgage-backed securities 107,976 112,138 117,491 121,347 135,982 Chart
Certificates of participation in pools of residential mortgages 107,976 112,138 117,491 121,347 135,982 Chart
Issued or guaranteed by U.S. 107,976 112,138 117,491 121,347 135,982 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) 83,290 85,534 88,189 89,989 91,710 Chart
Available-for-sale securities (fair market value) 126,170 127,949 132,269 135,450 138,636 Chart
Total debt securities 209,461 213,485 220,459 225,438 230,345 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 3.92% 3.91% 3.92% 4.01% 3.98% Chart
Cost of funding earning assets 0.47% 0.47% 0.47% 0.51% 0.52% Chart
Net interest margin 3.44% 3.44% 3.46% 3.50% 3.46% Chart
Noninterest income to average assets 0.93% 0.95% 0.90% 0.84% 0.88% Chart
Noninterest expense to average assets 3.42% 3.34% 3.32% 3.37% 3.40% Chart
Loan and lease loss provision to assets 0.04% 0.07% 0.13% 0.07% 0.12% Chart
Net operating income to assets 0.47% 0.50% 0.46% 0.45% 0.39% Chart
Return on assets (ROA) 0.47% 0.50% 0.46% 0.45% 0.39% Chart
Pretax return on assets 0.49% 0.54% 0.47% 0.46% 0.38% Chart
Return on Equity (ROE) 5.00% 5.42% 4.94% 4.92% 4.31% Chart
Retained earnings to average equity (YTD only) 2.08% 2.49% 2.00% 2.38% 2.39% Chart
Net charge-offs to loans -0.02% -0.01% -0.04% 0.07% 0.16% Chart
Credit loss provision to net charge-offs -265.96% -1363.64% -450.82% 168.54% 132.01% Chart
Earnings coverage of net charge-offs (x) 0.00% 0.00% 0.00% 12.75% 5.40% Chart
Efficiency ratio 86.57% 84.49% 84.78% 86.50% 87.01% Chart
Assets per employee ($millions) 3.47% 3.50% 3.45% 3.35% 3.18% Chart
Cash dividends to net income (YTD only) 58.42% 54.05% 59.41% 51.65% 44.64% Chart
Condition Ratios (%)
Loss allowance to loans 1.30% 1.29% 1.33% 1.32% 1.34% Chart
Loan loss allowance to noncurrent loans 152.84% 110.52% 120.13% 105.42% 76.92% Chart
Noncurrent assets plus other real estate owned to assets 1.02% 1.31% 1.27% 1.36% 1.69% Chart
Noncurrent loans to loans 0.85% 1.17% 1.11% 1.25% 1.74% Chart
Net loans and leases to total assets 64.42% 63.50% 62.06% 60.68% 60.22% Chart
Net loans and leases to deposits 76.97% 77.73% 75.02% 73.63% 72.32% Chart
Net loans and leases to core deposits 82.30% 83.26% 80.03% 78.99% 77.55% Chart
Total domestic deposits to total assets 83.69% 81.70% 82.72% 82.41% 83.27% Chart
Equity capital to assets 9.50% 9.22% 9.31% 9.35% 9.35% Chart
Core capital (leverage) ratio 10.10% 10.00% 10.05% 10.01% 10.07% Chart
Tier 1 risk-based capital ratio 12.78% 12.67% 12.68% 13.37% 13.40% Chart
Total risk-based capital ratio 13.85% 13.73% 13.75% 14.45% 14.48% Chart
Memoranda
Average total assets 879,198 880,935 877,231 862,611 860,342 Chart
Average earning assets 770,322 768,896 763,846 754,284 753,710 Chart
Average equity 82,164 81,868 81,835 78,649 77,932 Chart
Average loans 558,306 554,256 545,615 518,241 513,802 Chart