Virginia National Bank
Headquarters
222 E Main St
Charlottesville, VA 22902
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2024 Overview
General Bank Information
Virginia National Bank is an FDIC insured institution located in Charlottesville, VA. It was founded in 1998 and has approximately $1.64 billion in assets. Customers can open an account at one of its 9 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 34755 |
| Date Established | 1998 |
| Assets | $ 1,644.72 million |
| Loans | $ 1,084.27 million |
| Deposits | $ 1,409.35 million |
| Capital | $ 155.06 million |
For a more detailed analysis of Virginia National Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - April 24, 2024
Your Current Location: Ohio, OH 43085
Loan Rates - April 24, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Virginia National Bank
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Monthly Payment |
Learn More |
|---|---|---|---|---|
NMLS ID: 401822 |
6.806% |
6.625% 0.88 points $6,000 fees |
$2,049 | Learn More |
NMLS ID: 1429043 License#: RM.804500.000 |
6.806% |
6.625% 0.88 points $6,000 fees |
$2,049 | Learn More |
NMLS ID: 2059741 |
6.905% |
6.750% 1.00 points $5,094 fees |
$2,076 | Learn More |
NMLS ID: 3030 |
7.451% |
7.375% 0.75 points $2,400 fees |
$2,211 | Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
7.490 %
|
$0 |
Learn More
More Info |
Note to Virginia National Bank
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Branches
Virginia National Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Climate Policy and Initiatives
Virginia National Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.
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Financial Details
Virginia National Bank Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Virginia National Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.
Texas Ratio
| Virginia National Bank | U.S. Bank Average |
|---|---|
| 1.67% | 3.96% |
The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.
As of December 31, 2024, Virginia National Bank had $2,731,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $155,064,000 in equity and $8,395,000 in loans loss reserves. That gives it a Texas Ratio of 1.67%.
Return on Equity
| Virginia National Bank | U.S. Bank Average |
|---|---|
| 14.11% | 12.20% |
Virginia National Bank has a Return on Equity of 14.11% versus the BestCashCow average of 12.20%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.
Capitalization
| Virginia National Bank | U.S. Bank Average |
|---|---|
| 9.43% | 10.76% |
Virginia National Bank has a Capitalization of 9.43% versus the BestCashCow average of 10.76. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.
Virginia National Bank Balance Sheet Analysis
As of December 31, 2023, Virginia National Bank had assets of $1,644,721,000, loans of $1,084,270,000, and deposits of $1,409,349,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.
Summary Balance Sheet
December 31, 2024| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 28.39 million |
| Interest-bearing balances | $ 10.92 million |
| Total securities | $ 420.60 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 1,084.27 million |
| Loan loss allowance | $ 8.40 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | N.A. |
| Goodwill and other intangibles | $ 12.86 million |
| All other assets | $ 70.00 million |
| Total Assets | $ 1,489.66 million |
| LIABILITIES | |
|---|---|
| Total deposits | $ 1,409.35 million |
| Interest-bearing deposits | $ 1,036.24 million |
| Deposits held in domestic offices | $ 1,409.35 million |
| % insured (estimated) | 74.49% |
| Federal funds purchased and repurchase agreements | $ 3.46 million |
| Trading liabilities | N.A. |
| Other borrowed funds | $ 6.93 million |
| Subordinated debt | N.A. |
| All other liabilities | $ 1.41 million |
| Total Liabilities | $ 1,489.66 million |
| Shareholders’ Equity | $ 155.06 million |
Summary Income Statement
December 31, 2024| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 69.99 million |
| Total Interest Expense | $ 20.71 million |
| Net interest income | $ 49.28 million |
| Provision for loan and lease losses | $ 0.73 million |
| Total non interest income | $ 7.84 million |
| Total non interest expense | $ 31.87 million |
| Pre-tax Net Operating Income | $ 13.53 million |
Bank Loan Profile?
The top three loan types in Virginia National Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Commercial and Industrial Loans.
Compared to other banks, Virginia National Bank’s loan portfolio does not show any specific loan specialty.
Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.
| % Loans |
% Comparison to Other Banks |
|||
|---|---|---|---|---|
| Low | Med | High | ||
| 1-4 Family Residential Loans | 29.41 | ✓ | ||
| Multifamily Mortgages |
4.10 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 0.05 | ✓ | ||
| Small Business Loans | 6.70 | ✓ | ||
| Construction and Development Loans | 5.09 | ✓ | ||
| Commercial Real Estate | 37.06 | ✓ | ||
| Commercial and Industrial Loans | 6.98 | ✓ | ||
| Farm Loans | 0.01 | ✓ | ||
Customer Reviews for Virginia National Bank
wbgair01
November 23, 2021
Unfortunately I cannot recommend this bank. I was a TFB customer with three accounts when the merger with VNB took place. Now banking is a struggle. (And there are additional fees.) Constantly there is trouble with personal online banking. On screen of my phone they ALWAYS advise that either my username or password are wrong. When I try again and get the same message they lock the account and I have to call in. There is ALWAYS a discussion with the representative (which I never win). The representative wants to explain everything (but all I've called for is to get the account unlocked so I can go about my day). (The recorded messages when you call in talks about a "community" bank, how they are "local", how they "know your name", that it is "about people". Well I'm sorry, it's not.) The representative ALWAYS has the attitude that what the bank is doing, what its procedures are, etc., is right. They then put the fault on you that you are not using the right user name or the right password. BUT - when I get to my laptop? I use the SAME user name and password and, guess what? The account comes up. So, obviously, they have a problem. And don't get me started on the two layer identification thing! I have closed two of the three accounts and plan to close the third. Now I bank at Atlantic Union. (No they are not paying me to say that....)
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