First Bank


112 W King St
Strasburg, VA 22657
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.01% 4.45% →
1-Year CD 0.20% 5.00% →
2-Year CD 0.35% 4.75% →
5-Year CD 0.85% 4.55% →
30-Year Mortgage N.A. 0.00% →
15-Year Mortgage N.A. 0.00% →
HELOC N.A. 0.99% →

2023 Overview

General Bank Information

First Bank is an FDIC insured institution located in Strasburg, VA. It was founded in 1907 and has approximately $1.41 billion in assets. Customers can open an account at one of its 17 branches.

FDIC Insured Yes
FDIC Certificate # 6917
Date Established 1907
Assets $ 1,412.35 million
Loans $ 873.89 million
Deposits $ 1,304.69 million
Capital $ 104.15 million

For a more detailed analysis of First Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - February 7, 2023

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
0.01% $200 - Learn More
Money Market
0.05% $2,500 $9,999 Learn More
Money Market
0.10% $10,000 $24,999 Learn More
Money Market
0.10% $25,000 - Learn More
6 Mo CD
0.10% $500 - Learn More
12 Mo CD
0.20% $500 - Learn More
18 Mo CD
0.23% $500 - Learn More
24 Mo CD
0.35% $500 - Learn More
30 Mo CD
0.41% $500 - Learn More
36 Mo CD
0.50% $500 - Learn More
48 Mo CD
0.75% $500 - Learn More
60 Mo CD
0.85% $500 - Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.01% $2,500 $9,999 Learn MoreShow Less

Loan Rates - February 7, 2023

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for First Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Virginia 30 Year Fixed Mortgage Rates 2023

Lender APR Rate (%) Monthly
Learn More
Rocket Mortgage
NMLS ID: 3030
7.126% 6.990%
0.88 points
$3,438 fees
$1,662 Learn More
New American Funding
NMLS ID: 6606
6.141% 5.990%
1.00 points
$4,062 fees
$1,498 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2023

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
6.740 %
$0 Learn More
More Info

Note to First Bank
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Climate Initiatives

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Financial Details

First Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First Bank. The data is provided by the FDIC. All banks listed on are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
First Bank U.S. Bank Average
1.99% 4.06%

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 June 30, 2022, First Bank had $534,000 in non-current loans and $1,665,000 in owned real estate. To cover these potential losses it had $104,148,000 in equity and $6,202,000 in loans loss reserves. That gives it a Texas Ratio of 1.99%.

Return on Equity
First Bank U.S. Bank Average
14.52% 9.98%

First Bank has a Return on Equity of 14.52% versus the BestCashCow average of 9.98%. 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.

First Bank U.S. Bank Average
7.37% 10.23%

First Bank has a Capitalization of 7.37% versus the BestCashCow average of 10.23. 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.

First Bank Balance Sheet Analysis

As of June 30, 2022, First Bank had assets of $1,412,348,000, loans of $873,887,000, and deposits of $1,304,690,000. 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

June 30, 2022
Cash & Balances due from depository institutions $ 124.42 million
Interest-bearing balances $ 104.53 million
Total securities $ 341.90 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 873.89 million
Loan loss allowance $ 6.20 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.67 million
Goodwill and other intangibles $ 3.18 million
All other assets $ 45.00 million
     Total Assets $ 1,308.20 million
Total deposits $ 1,304.69 million
      Interest-bearing deposits $ 864.86 million
      Deposits held in domestic offices $ 1,304.69 million
      % insured (estimated) 80.07%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 3.51 million
      Total Liabilities $ 1,308.20 million
      Shareholders’ Equity $ 104.15 million

Summary Income Statement

June 30, 2022
Total Interest Income $ 22.86 million
Total Interest Expense $ 0.75 million
Net interest income $ 22.11 million
Provision for loan and lease losses $ 0.40 million
Total non interest income $ 5.76 million
Total non interest expense $ 17.31 million
Pre-tax Net Operating Income $ 10.16 million

Bank Loan Profile?

The top three loan types in First Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Small Business Loans.

Compared to other banks, First 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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 35.71
Credit Card Loans 0.00
Consumer Auto Loans 0.22
Small Business Loans 14.67
Construction and Development Loans 5.62
Commercial Real Estate 39.29
Commercial and Industrial Loans 12.45
Farm Loans 0.09

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