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Overview / Commentary
660 Central Avenue
Barboursville, WV 25504

The First State Bank (WV) is headquartered in Barboursville and is the 20th largest bank in the state of West Virginia. It is also the 2,357th largest bank in the nation. It was established in 1905 and as of December of 2013, it had grown to 80 employees at 4 locations. The First State Bank (WV) has a D health rating.

Reviews (1)

Mortgage Service

Horrible service, no concern for customer service (nor care for responding to customer requests) -caused us to foreclose on a loan (cruel about the matter) - hope God forgives them.



Health

Data for Q4 2013

Institution Health

D

Texas Ratio

GRADE:
F

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 The First State Bank (WV) had $32.28 million in non-current loans and owned real-estate with $26.52 million in equity and loan loss allowances on hand to cover it. This gives The First State Bank (WV) a Texas Ratio of 121.70% which is poor. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C-

The Texas Ratio for The First State Bank (WV) increased slightly from 58.64% as of December 31, 2012 to 121.70% as of December 31, 2013, resulting in a negative change of 107.53%. This indicates that the balance sheet and financial strength for The First State Bank (WV) has declined slightly in recent periods.

Deposit Growth

GRADE:
F

In the past year, The First State Bank (WV) has decreased its total deposits by -$36.82 million, resulting in -13.53% 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 The First State Bank (WV) has shown is poor.

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. The First State Bank (WV) has $271.57 million in assets with $26.52 million in equity, resulting in a capitalization level of 9.77%, which is above average.

Institution Statistics

Overall
FDIC Certificate #14361
Year Established1905
Employees80
Primary RegulatorFDIC
Assets and Liabilities
Assets$271.57 million
Loans$210.74 million
Deposits$235.24 million
Equity Capital$21.48 million
Loan Loss Allowance$5.04 million
Unbacked Noncurrent Loans$24.18 million
Real Estate Owned$8.10 million
Historic Data - December 2012
Assets$313.66 million
Equity Capital$21.74 million
Loan Loss Allowance$3.90 million
Unbacked Noncurrent Loans$24.18 million
Real Estate Owned$3.36 million
Profit Margin - Quarterly
Net Interest Margin4.05%
Return on Assets0.08%
Return on Equity1.04%
Interest Income$12.64 million
Rates

Sorry, we do not have rate data for The First State Bank (WV)

Locations


The First State Bank (WV) Locations
Teays Valley Branch3754 Teays Valley RoadHurricane, WV 25526
Huntington Branch401 10th StreetHuntington, WV 25702
Off-Premise Facility6441 Farmdale RoadBarboursville, WV 25504
The First State Bank660 Central AvenueBarboursville, WV 25504