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Overview / Commentary
304-636-4095
211-213 Third Street
Elkins, WV 26241

Citizens Bank of West Virginia, Inc. is headquartered in Elkins and is the 28th largest bank in the state of West Virginia. It is also the 2,899th largest bank in the nation. It was established in 1924 and as of March of 2014, it had grown to 65 employees at 5 locations. Citizens Bank of West Virginia, Inc. has a B+ health rating.

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Health

Data for Q1 2014

Institution Health

B+

Texas Ratio

GRADE:
C+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Citizens Bank of West Virginia, Inc. had $6.07 million in non-current loans and owned real-estate with $23.68 million in equity and loan loss allowances on hand to cover it. This gives Citizens Bank of West Virginia, Inc. a Texas Ratio of 25.64% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Citizens Bank of West Virginia, Inc. decreased dramatically from 43.89% as of March 31, 2013 to 25.64% as of March 31, 2014, resulting in a positive change of 41.59%.This indicates that the balance sheet and financial strength for Citizens Bank of West Virginia, Inc. has improved dramatically in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Citizens Bank of West Virginia, Inc. has increased its total deposits by $4.37 million, resulting in 2.59% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Citizens Bank of West Virginia, Inc. has shown is above average.

Capitalization

GRADE:
A

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Citizens Bank of West Virginia, Inc. has $213.77 million in assets with $23.68 million in equity, resulting in a capitalization level of 11.08%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #6760
Year Established1924
Employees65
Primary RegulatorFDIC
Assets and Liabilities
Assets$213.77 million
Loans$139.24 million
Deposits$173.33 million
Equity Capital$20.96 million
Loan Loss Allowance$2.72 million
Unbacked Noncurrent Loans$1.18 million
Real Estate Owned$4.90 million
Historic Data - March 2013
Assets$208.57 million
Equity Capital$19.45 million
Loan Loss Allowance$3.31 million
Unbacked Noncurrent Loans$1.18 million
Real Estate Owned$4.43 million
Profit Margin - Quarterly
Net Interest Margin4%
Return on Assets0.87%
Return on Equity8.89%
Interest Income$2.12 million
Rates
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Citizens Bank of West Virginia, Inc. CD Rates

DetailsAPYMINMAXPRODUCT
1.05%$500-60 Month CD
0.65%$500-48 Month CD
0.55%$500-36 Month CD
0.50%$500-30 Month CD
0.25%$500-18 Month CD
0.25%$500-24 Month CD
0.20%$500-12 Month CD
0.10%$500-6 Month CD
0.05%$500-3 Month CD

Citizens Bank of West Virginia, Inc. IRA Rates

DetailsAPYMINMAXPRODUCT
1.05%$500-60 Month IRA
0.65%$500-48 Month IRA
0.55%$500-36 Month IRA
0.50%$500-30 Month IRA
0.25%$500-18 Month IRA
0.25%$500-24 Month IRA
0.20%$500-12 Month IRA
0.10%$500-6 Month IRA
0.05%$500-3 Month IRA
Locations


Citizens Bank of West Virginia, Inc. Locations
Snowshoe Branch1 Citizens PlazaSlatyfork, WV 26291
Tygart Valley Branch100 Main StreetBeverly, WV 26253
Citizens Bank Of West Virginia, Inc.211-213 Third StreetElkins, WV 26241
Tucker County Branch224-226 Walnut StreetParsons, WV 26287
Third and Kerens Drive-In BranchThird Street and Kerens AvenueElkins, WV 26241