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Overview / Commentary
304-986-1700
11 West Main Street
Mannington, WV 26582

First Exchange Bank is headquartered in Mannington and is the 30th largest bank in the state of West Virginia. It is also the 2,999th largest bank in the nation. It was established in 1932 and as of December of 2013, it had grown to 53 employees at 6 locations. First Exchange Bank has a C+ health rating.

Reviews (2)

A Wonderful, Personable Place To Bank!

First Exchange Bank (Hundred office) has been our bank for the past 12+ years. While we have dealt with other banks in the past, we find First Exchange Bank meets all our needs, both personal and for our business. Most importantly to us, it is a local bank, and the employees treat us (and their other customers) like "one of the family." They have repeatedly bent over backwards to meet our needs, while always having a smile and a first name greeting of their customers every time I go to the bank.

Customer Service

Great customer service.



Health

Data for Q4 2013

Institution Health

C+

Texas Ratio

GRADE:
C

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 First Exchange Bank had $7.03 million in non-current loans and owned real-estate with $20.9 million in equity and loan loss allowances on hand to cover it. This gives First Exchange Bank a Texas Ratio of 33.61% 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 Exchange Bank experienced no significant changes from 34.56% as of December 31, 2012 to 33.61% as of December 31, 2013, resulting in a positive change of 2.75%.This indicates that the balance sheet and financial strength for First Exchange Bank has had no significant changes in recent periods.

Deposit Growth

GRADE:
B

In the past year, First Exchange Bank has increased its total deposits by $1.53 million, resulting in 0.83% 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 Exchange Bank has shown is above average.

Capitalization

GRADE:
B+

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 Exchange Bank has $204.42 million in assets with $20.9 million in equity, resulting in a capitalization level of 10.23%, which is above average.

Institution Statistics

Overall
FDIC Certificate #13020
Year Established1932
Employees53
Primary RegulatorFDIC
Assets and Liabilities
Assets$204.43 million
Loans$150.41 million
Deposits$185.82 million
Equity Capital$18.08 million
Loan Loss Allowance$2.82 million
Unbacked Noncurrent Loans$5.71 million
Real Estate Owned$1.31 million
Historic Data - December 2012
Assets$203.03 million
Equity Capital$18.13 million
Loan Loss Allowance$2.60 million
Unbacked Noncurrent Loans$5.71 million
Real Estate Owned$1.65 million
Profit Margin - Quarterly
Net Interest Margin3.58%
Return on Assets0.69%
Return on Equity7.75%
Interest Income$8.61 million
Rates
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First Exchange Bank CD Rates

DetailsAPYMINMAXPRODUCT
0.90%$500-60 Month CD
0.90%$500-72 Month CD
0.70%$500-48 Month CD
0.55%$500-36 Month CD
0.45%$500-30 Month CD
0.35%$500-24 Month CD
0.35%$500-27 Month CD
0.20%$500-12 Month CD
0.20%$500-15 Month CD
0.15%$500-10 Month CD
0.10%$500-182 Day CD
0.05%$500-91 Day CD
Locations


First Exchange Bank Locations
First Exchange Bank11 West Main StreetMannington, WV 26582
Barrackville Branch211 Pike StreetBarrackville, WV 26559
Fairmont Branch216 Fairmont AvenueFairmont, WV 26554
3081 University Ave. Branch3081 University Ave.Morgantown, WV 26505
Fairview Branch309 Main StreetFairview, WV 26570
Hundred BranchPo Box 780 Rt 250Hundred, WV 26575