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Overview / Commentary
201 Pennsylvania Avenue
Charleston, WV 25362

First Bank of Charleston, Inc. is headquartered in Charleston and is the 29th largest bank in the state of West Virginia. It is also the 2,947th largest bank in the nation. It was established in 2003 and as of March of 2014, it had grown to 24 employees at 1 location. First Bank of Charleston, Inc. has a C+ health rating.

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Health

Data for Q1 2014

Institution Health

C+

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 First Bank of Charleston, Inc. had $9.36 million in non-current loans and owned real-estate with $26.58 million in equity and loan loss allowances on hand to cover it. This gives First Bank of Charleston, Inc. a Texas Ratio of 35.20% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C-

The Texas Ratio for First Bank of Charleston, Inc. increased slightly from 7.61% as of March 31, 2013 to 35.20% as of March 31, 2014, resulting in a negative change of 362.60%. This indicates that the balance sheet and financial strength for First Bank of Charleston, Inc. has declined slightly in recent periods.

Deposit Growth

GRADE:
B

In the past year, First Bank of Charleston, Inc. has increased its total deposits by $976,000, resulting in 0.68% 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 First Bank of Charleston, 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. First Bank of Charleston, Inc. has $209.26 million in assets with $26.58 million in equity, resulting in a capitalization level of 12.70%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #57514
Year Established2003
Employees24
Primary RegulatorFDIC
Assets and Liabilities
Assets$209.26 million
Loans$144.96 million
Deposits$144.17 million
Equity Capital$23.77 million
Loan Loss Allowance$2.81 million
Unbacked Noncurrent Loans$9.18 million
Real Estate Owned$176,000
Historic Data - March 2013
Assets$203.76 million
Equity Capital$22.33 million
Loan Loss Allowance$2.67 million
Unbacked Noncurrent Loans$9.18 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin3.53%
Return on Assets0.9%
Return on Equity7.94%
Interest Income$1.99 million
Rates

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Locations


First Bank of Charleston, Inc. Locations
First Bank Of Charleston, Inc.201 Pennsylvania AvenueCharleston, WV 25362