Central Virginia Bank Powhaton, VA

Central Virginia Bank was founded in 1973.  The  Texas ratio is 127%.  They entered into a written agreement with the Fed on 4/15/10.   The stock was delisted in November of 2010.

The bank has $408MM in assets and $252MM in loans, with $15MM in equity.

They have $14MM in loans past due 30-90 days, with $33MM on non accrual and $2MM in OREO.

NI was ($9MM) in FY08, ($8MM) in FY09 and ($14MM) in FY10.  The capitalization declined by 100% in the last 3 years.

The market capitalization is $3MM.  They are selling at 20% of book.

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