First Neighborhood Bank is headquartered in Spencer and is the 37th largest bank in the state of West Virginia. It is also the 3,772nd largest bank in the nation. It was established in 1912 and as of March of 2014, it had grown to 39 employees at 4 locations. First Neighborhood Bank has a A health rating.
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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 Neighborhood Bank had $585,000 in non-current loans and owned real-estate with $14.62 million in equity and loan loss allowances on hand to cover it. This gives First Neighborhood Bank a Texas Ratio of 4.00% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for First Neighborhood Bank decreased dramatically from 5.87% as of March 31, 2013 to 4.00% as of March 31, 2014, resulting in a positive change of 31.78%.This indicates that the balance sheet and financial strength for First Neighborhood Bank has improved dramatically in recent periods.
In the past year, First Neighborhood Bank has increased its total deposits by $1.68 million, resulting in 1.29% 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 Neighborhood Bank has shown is above average.
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 Neighborhood Bank has $146.48 million in assets with $14.62 million in equity, resulting in a capitalization level of 9.98%, which is above average.
|FDIC Certificate #||6800|
|Assets and Liabilities|
|Equity Capital||$13.64 million|
|Loan Loss Allowance||$980,000|
|Real Estate Owned||$585,000|
|Historic Data - March 2013|
|Equity Capital||$13.42 million|
|Loan Loss Allowance||$903,000|
|Unbacked Noncurrent Loans||$0|
|Real Estate Owned||$735,000|
|Profit Margin - Quarterly|
|Net Interest Margin||3.47%|
|Return on Assets||0.53%|
|Return on Equity||5.75%|
|Interest Income||$1.28 million|
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|First Neighborhood Bank Locations|
|First Neighborhood Bank||216 Market Street||Spencer, WV 25276|
|Drive-In Branch||334 Main Street||Spencer, WV 25276|
|Parkersburg Branch||4416 Emerson Avenue||Parkersburg, WV 26104|
|South Parkersburg Office Branch||500 Division Street||Parkersburg, WV 26103|