Overview / Commentary
The Bank of Southside Virginia is headquartered in Carson and is the 35th largest bank in the state of Virginia. It is also the 1,342nd largest bank in the nation. It was established in 1911 and as of March of 2022, it had grown to 74 employees at 15 locations. The Bank of Southside Virginia has an A+ health rating.
Health
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 11580 |
| Year Established | 1911 |
| Employees | 74 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.65% |
| Return on Equity - YTD | 4.39% |
| Annual Interest Income | $3.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2022vs Q1 2021 | $686.1MM$640.4MM |
| Loans | Q1 2022vs Q1 2021 | $178.3MM$195.6MM |
| Deposits | Q1 2022vs Q1 2021 | $582.7MM$525.8MM |
| Equity Capital | Q1 2022vs Q1 2021 | $96.8MM$105.7MM |
| Loan Loss Allowance | Q1 2022vs Q1 2021 | $4.6MM$4.5MM |
| Unbacked Noncurrent Loans | Q1 2022vs Q1 2021 | $124.00K$141.00K |
| Real Estate Owned | Q1 2022vs Q1 2021 | $50.00K$281.00K |
