First Bank of Charleston, Inc.

Headquarters

201 Pennsylvania Avenue
Charleston, WV 25362
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.95% →
1-Year CD N.A. 1.01% →
2-Year CD N.A. 0.95% →
5-Year CD N.A. 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

First Bank of Charleston, Inc. is an FDIC insured institution located in Charleston, WV. It was founded in 2003 and has approximately $0.17 billion in assets.

FDIC Insured Yes
FDIC Certificate # 57514
Date Established 2003
Assets $ 179.98 million
Loans $ 117.52 million
Deposits $ 129.98 million
Capital $ 22.06 million
 

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

Deposit Rates - October 22, 2020

Your Current Location: Connecticut, CT 06828


Loan Rates - October 22, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for First Bank of Charleston, Inc.

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




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Note to First Bank of Charleston, Inc.
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Branches

First Bank of Charleston, Inc. 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:
Fairfield,Connecticut


First Bank of Charleston, Inc. Locations


Financial Details

First Bank of Charleston, Inc. Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First Bank of Charleston, Inc.. 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
First Bank of Charleston, Inc. U.S. Bank Average
10.92% 6.94%

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 March 31, 2020, First Bank of Charleston, Inc. had $2,625,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $22,061,000 in equity and $1,988,000 in loans loss reserves. That gives it a Texas Ratio of 10.92%.

Return on Equity
First Bank of Charleston, Inc. U.S. Bank Average
6.23% 7.80%

First Bank of Charleston, Inc. has a Return on Equity of 6.23% versus the BestCashCow average of 7.80%. 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
First Bank of Charleston, Inc. U.S. Bank Average
12.26% 12.68%

First Bank of Charleston, Inc. has a Capitalization of 12.26% versus the BestCashCow average of 12.68. 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 of Charleston, Inc. Balance Sheet Analysis

As of September 30, 2018, First Bank of Charleston, Inc. had assets of $174,080,000, loans of $117,515,000, and deposits of $129,979,000. 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

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 2.87 million
Interest-bearing balances $ 0.14 million
Total securities $ 45.06 million
Federal funds sold and reverse repurchase $ 0.39 million
Net loans and leases $ 117.52 million
Loan loss allowance $ 1.99 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 3.82 million
     Total Assets $ 152.02 million
LIABILITIES
Total deposits $ 129.98 million
      Interest-bearing deposits $ 110.03 million
      Deposits held in domestic offices $ 129.98 million
      % insured (estimated) 82.06%
Federal funds purchased and repurchase agreements $ 0.28 million
Trading liabilities N.A.
Other borrowed funds $ 20.90 million
Subordinated debt N.A.
All other liabilities $ 0.87 million
      Total Liabilities $ 152.02 million
      Shareholders’ Equity $ 27.96 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 5.70 million
Total Interest Expense $ 1.16 million
Net interest income $ 4.54 million
Provision for loan and lease losses $ 0.27 million
Total non interest income $ 0.31 million
Total non interest expense $ 3.10 million
Pre-tax Net Operating Income $ 1.47 million

Bank Loan Profile?

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

Compared to other banks in West Virginia, First Bank of Charleston, Inc. has a significantly higher percent of Commercial Real Estate, Commercial and Industrial Loans on its balance sheet, potentially indicating a specialty in that lending area.

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 37.23
Multifamily
Mortgages
2.58
Credit Card Loans 0.00
Consumer Auto Loans 0.20
Small Business Loans 0.00
Construction and Development Loans 0.32
Commercial Real Estate 40.05
Commercial and Industrial Loans 20.53
Farm Loans 0.00

Frequently Asked Questions About First Bank Of Charleston, Inc.

Branches and Savings

Is First Bank Of Charleston, Inc. FDIC insured?

Yes. It is covered under FDIC Certificate #57514.

Why does First Bank Of Charleston, Inc. pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are First Bank Of Charleston, Inc. CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is First Bank Of Charleston, Inc. a commercial bank?

Yes

Where are First Bank Of Charleston, Inc. locations?

See branch locations nearby.

Is First Bank Of Charleston, Inc. open on Saturdays?

Is First Bank Of Charleston, Inc. open on Sundays?

What time does First Bank Of Charleston, Inc. open?

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Are First Bank Of Charleston, Inc. ATMs Open 24/7?

Do First Bank Of Charleston, Inc. ATMs accept cash deposits?

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Do First Bank Of Charleston, Inc. branches have notaries?

Will First Bank Of Charleston, Inc. notarize my document?

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Will the First Bank Of Charleston, Inc. branch print checks?

Do First Bank Of Charleston, Inc. checks expire?

Does First Bank Of Charleston, Inc. require US citizenship to open account?

Can First Bank Of Charleston, Inc. close my account?

Does First Bank Of Charleston, Inc. Report to credit bureaus?

Does First Bank Of Charleston, Inc. Use Equifax?

What is First Bank Of Charleston, Inc.'s ACH Routing Number?

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Products

Does First Bank Of Charleston, Inc. offer mortgages?

Compare mortgage rates here.

Does First Bank Of Charleston, Inc. offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does First Bank Of Charleston, Inc. offer personal loans?

Compare personal loan rates here.

Does First Bank Of Charleston, Inc. offer student loans?

Will First Bank Of Charleston, Inc. cash a check?

Will First Bank Of Charleston, Inc. redeem a savings bond?

Does First Bank Of Charleston, Inc. cash savings bonds?

Will First Bank Of Charleston, Inc. cash money orders?

Can First Bank Of Charleston, Inc. issue a money order?

Does First Bank Of Charleston, Inc. do currency exchange?

Background on The Bank

Who owns First Bank Of Charleston, Inc.?

How long has First Bank Of Charleston, Inc. been around?

Can First Bank Of Charleston, Inc. transfer to other banks?

Does First Bank Of Charleston, Inc. have quick pay?

Does First Bank Of Charleston, Inc. accept rolled coins?

Will First Bank Of Charleston, Inc. accept loose change?

Where is First Bank Of Charleston, Inc. headquarters?

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