Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - FIRST CENTURY BANKSHARES INC | d8k.htm |
  2011 Annual Stockholder’s Meeting
2011 Annual Stockholder’s Meeting
April 26, 2011
April 26, 2011
Exhibit 99.1 |
 At
a Glance At a Glance
Headquarters in Bluefield, WV
Founded in 1891
Banking operations in WV and VA
°
12 banking offices
°
17 ATM’s
Trust Division with $316 million in assets
under management |
 Wytheville
Branch locations
Oceana |
 For The Year
2006
2007
2008
2009
2010
Net Income
$4,489
$4,688
$3,685
$315
$2,141
Return on Assets (average)
1.12%
1.10%
0.85%
0.07%
0.51%
Return on Equity (beginning)
12.49%
12.20%
9.12%
0.76%
5.43%
5-year Summary
5-year Summary
Assets: $408 million
2010 –
“no growth”
strategy
Focused on asset quality
(Dollars in Thousands) |
 5-year Summary
5-year Summary
2006
2007
2008
2009
2010
Per Share Data
Net Income
$2.28
$2.39
$1.93
$0.17
$1.12
Cash Dividend
$1.05
$1.10
$1.11
$0.96
$0.60
Book Value
$19.58
$21.16
$21.74
$20.73
$21.00
Tangible Book Value
$16.94
$18.44
$19.01
$18.01
$18.28
Market Value
$28.00
$25.50
$15.65
$15.00
$12.00
Market/Book Value %
143.00%
120.51%
71.99%
72.36%
57.14%
Market/Tangible BV %
165.29%
138.29%
82.33%
83.29%
65.65%
For The Year
Net Income
$4,489
$4,688
$3,685
$315
$2,141
Return on Assets (average)
1.12%
1.10%
0.85%
0.07%
0.51%
Return on Equity (beginning)
12.49%
12.20%
9.12%
0.76%
5.43%
At Year-End
Total Assets
$410,948
$433,879
$425,694
$408,387
$407,989
Total Deposits
$357,355
$362,755
$358,031
$350,320
$352,341
Total Loans (net)
$290,088
$294,491
$293,930
$282,041
$254,382
Total Equity
$38,432
$40,405
$41,365
$39,456
$39,971
(Dollars in Thousands, Except Per Share Data) |
 Weakened economy
Weakened borrowers
Unsettled financial industry
High regulatory scrutiny
Regulatory Reform –
Consumer Financial Protection Agency (CFPA)
Implementation of Dodd-Frank Act
Environmental Protection Agency –
affect on coal
industry
Changing rules |
 EARNINGS
2008
2009
2010
Net Income
$3,685
$315
$2,141
ROAA
0.85%
0.07%
0.51%
ROAE
8.96%
0.76%
5.31%
FDIC Assessments
$55
$890
$606
Net Charge-offs
$214
$3,825
$386
Additions to Allowance
$235
$1,635
$1,550
ALLL to Total Loans
0.91%
1.51%
2.26%
Total Allowance
$2,690
$4,325
$5,875
Total Risk-based Capital
$40,843
$40,524
$41,411
Total RBC %
13.30%
13.56%
15.08%
(Dollars in Thousands) |
 First Century has a strong capital position
Minimum to be
considered
Actual
“Well Capitalized”
Tier 1 Capital to Avg. Assets
9.00%
5.00%
Tier 1 Capital to Risk Weighted Assets
13.82% 6.00%
Total Capital to Risk Weighted
Assets 15.08% 10.00%
Data as of 12/31/10 |
 Trust
Assets Trust Assets |
 Anticipate limited growth opportunities in 2011
Reduce levels of criticized and classified assets
Timely identification of problems
Proper risk ratings and reserve allocations for any potential problem
asset
Maintain a pattern of selective growth over the near term as the market
strengthens
Focus on infrastructure improvement
°
Efficiency
°
Staffing study
°
Current market penetration
Analyze I-81 corridor for strategic opportunities
Maintain sound capital position
Work to enhance shareholder return |
 Our vision
will be that we provide a fair and
consistent return for you, our
shareholders.
Our focus continues to be on three critical
areas
°
Asset Quality
°
Liquidity
°
Capital |
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