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Summit Community Bank (WV)

Summit Community Bank (WV)
Overview / Commentary
304-530-1000
310 North Main Street
Moorefield, WV 26836

Summit Community Bank (WV) is headquartered in Moorefield and is the 4th largest bank in the state of West Virginia. It is also the 488th largest bank in the nation. It was established in 1995 and as of March of 2014, it had grown to 195 employees at 17 locations. Summit Community Bank (WV) 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 Summit Community Bank (WV) had $69.15 million in non-current loans and owned real-estate with $160.45 million in equity and loan loss allowances on hand to cover it. This gives Summit Community Bank (WV) a Texas Ratio of 43.09% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Summit Community Bank (WV) decreased slightly from 56.19% as of March 31, 2013 to 43.09% as of March 31, 2014, resulting in a positive change of 23.30%.This indicates that the balance sheet and financial strength for Summit Community Bank (WV) has improved slightly in recent periods.

Deposit Growth

GRADE:
C

In the past year, Summit Community Bank (WV) has decreased its total deposits by -$14.1 million, resulting in -1.32% 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 Summit Community Bank (WV) has shown is 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. Summit Community Bank (WV) has $1.4 billion in assets with $160.45 million in equity, resulting in a capitalization level of 11.47%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #34102
Year Established1995
Employees195
Primary RegulatorFDIC
Assets and Liabilities
Assets$1.40 billion
Loans$962.71 million
Deposits$1.06 billion
Equity Capital$149.38 million
Loan Loss Allowance$11.07 million
Unbacked Noncurrent Loans$16.91 million
Real Estate Owned$52.24 million
Historic Data - March 2013
Assets$1.38 billion
Equity Capital$144.77 million
Loan Loss Allowance$17.02 million
Unbacked Noncurrent Loans$16.91 million
Real Estate Owned$54.63 million
Profit Margin - Quarterly
Net Interest Margin3.38%
Return on Assets0.76%
Return on Equity7.13%
Interest Income$14.06 million
Rates

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Locations

Sorry, but we do not have location data for Summit Community Bank (WV). Its headquarters is located at 310 North Main Street - Moorefield, WV 26836