American National Bank and Trust Company (merged into Atlantic Union Bank)
American National Bank and Trust Company reported total assets of $3.1 bn at Q1 2024, its last Call Report before it merged into Atlantic Union Bank. The CET1 capital ratio at American National Bank and Trust Company was 12.61%, and the uninsured share of American National Bank and Trust Company was 38.24%. Source: FDIC Call Reports.
Key takeaways
- Since , American National Bank and Trust Company has taken over one institution; the latest was HomeTown Bank on (FDIC Call Reports).
What sets American National Bank and Trust Company apart
How large is American National Bank and Trust Company?
The balance sheet of American National Bank and Trust Company at : assets $3.1 bn, deposits $2.6 bn, net loans $2.3 bn (loans equal to 88.55% of deposits). Securities make up 16.2% of total assets at American National Bank and Trust Company. Since , when American National Bank and Trust Company held $1.6 bn, its assets grew 94.3%. In the year to , deposits at American National Bank and Trust Company fell 1.1% while its total assets fell 0.1%. At , American National Bank and Trust Company employed 330 full-time equivalent staff across 30 offices, about $9.3 mn of assets per employee and $86.2 mn of deposits per office.
How much funding at American National Bank and Trust Company is uninsured?
At American National Bank and Trust Company, uninsured deposits (above the FDIC limit) made up 38.24% of domestic deposits at (-1.64 pp on a year earlier). In dollars, American National Bank and Trust Company estimated $989.5 mn of uninsured deposits.
Key facts, Q1 2024
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $2.6 bn | $2.6 bn (Q1 2023) | |
| Net loans and leases | $2.3 bn | $2.2 bn (Q1 2023) | |
| Loan-to-deposit ratio | 88.55% | 83.16% (Q1 2023) | |
| Tier 1 leverage ratio | 10.58% | 10.25% (Q1 2023) | |
| Total risk-based capital ratio | 13.64% | 13.65% (Q1 2023) | |
| Net interest margin | 2.78% | 3.35% (Q1 2023) | |
| Return on assets (ROA) | 0.90% | 1.27% (Q1 2023) | |
| Efficiency ratio | 61.27% | 53.53% (Q1 2023) | |
| Unrealized gain/loss on available-for-sale securities | Loss of $57.1 mn | Narrowed by $5.2 mn | |
| Noncurrent loans to total loans | 0.23% | 0.09% (Q1 2023) | |
| Net charge-offs to average loans | -0.02% | 0.04% (Q1 2023) |
US rank of American National Bank and Trust Company: 1 = highest unless marked 1 = lowest.
Balance sheet
American National Bank and Trust Company: assets, deposits and loans
- Total assets $3.1bn
- Deposits $2.6bn
- Net loans $2.3bn
Capital and securities
The CET1 ratio of American National Bank and Trust Company stood at 12.61% in , -0.01 pp year on year. Low and high at American National Bank and Trust Company since : 12.16% () to 14.29% (). Equity capital of American National Bank and Trust Company at : $365.2 mn, or 11.9% of total assets. American National Bank and Trust Company also reported a total capital ratio of 13.64% for , and a tier 1 leverage ratio of 10.58%.
The available-for-sale portfolio of American National Bank and Trust Company showed an unrealized loss of $57.1 mn at ; the loss narrowed by $5.2 mn over the year.
American National Bank and Trust Company: capital ratios
- Total capital 14%
- CET1 13%
- Tier 1 leverage 11%
American National Bank and Trust Company: unrealized securities gains and losses
- Available for sale -$57mn
- Held to maturity $0
Profitability and loan quality
For the year to , American National Bank and Trust Company earned a return on equity of 7.57%; return on assets: 0.90%. Net interest margin at American National Bank and Trust Company: 2.78%, -0.57 pp in a year. American National Bank and Trust Company net income: $6.9 mn, down 28.9% year on year. The efficiency ratio of American National Bank and Trust Company was 61.27%: about 61 cents cost per revenue dollar, against 65 cents at the median peer.
At , noncurrent loans were 0.23% of total loans at American National Bank and Trust Company; net charge-offs: -0.02% of average loans. Gross loans and leases at American National Bank and Trust Company: $2.3 bn at , against $2.2 bn at .
American National Bank and Trust Company: profitability
- Return on equity 7.6%
- Net interest margin 2.8%
- Return on assets 0.9%
Peer group of American National Bank and Trust Company
The peer group of American National Bank and Trust Company is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 0 share the charter type of American National Bank and Trust Company (national bank) and 0 have head offices in Virginia. Against them, American National Bank and Trust Company shows CET1 ratio 12.61% against a peer median of 13.64%, return on equity 7.57% against a peer median of 10.32% and uninsured deposit share 38.24% against a peer median of 39.88%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Minnwest Bank | State nonmember bank | MN | $3.1 bn | 10.27% | 8.39% | 21.17% | |
| Red River Bank | State nonmember bank | LA | $3.1 bn | 16.48% | 11.47% | 29.65% | |
| Bristol County Savings Bank | State nonmember bank | MA | $3.1 bn | 18.65% | 9.16% | 37.09% | |
| American National Bank and Trust Company | National bank | VA | $3.1 bn | 12.61% | 7.57% | 38.24% | |
| The Bank of Tampa | State nonmember bank | FL | $3.1 bn | 13.77% | 12.10% | 52.51% | |
| Bank of Ann Arbor | State nonmember bank | MI | $3.0 bn | 11.80% | 12.31% | 44.76% | |
| CapStar Bank | State member bank | TN | $3.0 bn | 13.51% | -4.74% | 42.66% | |
. FDIC Call Reports.
Last eight quarters
Two years at American National Bank and Trust Company, to : assets $3.2 bn to $3.1 bn, deposits $2.8 bn to $2.6 bn, equity $347.0 mn to $365.2 mn. Staff 345 to 330.
| Metric | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $3.2 bn | $3.0 bn | $3.1 bn | $3.1 bn | $3.1 bn | $3.1 bn | $3.1 bn | $3.1 bn |
| Total deposits | $2.8 bn | $2.7 bn | $2.6 bn | $2.6 bn | $2.7 bn | $2.6 bn | $2.6 bn | $2.6 bn |
| Bank equity capital | $347.0 mn | $333.4 mn | $341.1 mn | $349.9 mn | $348.5 mn | $348.6 mn | $365.1 mn | $365.2 mn |
| CET1 ratio | 12.88% | 12.69% | 12.57% | 12.62% | 12.55% | 12.68% | 12.61% | 12.61% |
| Return on equity (ROE) | 10.23% | 10.66% | 10.50% | 11.25% | 10.09% | 9.75% | 8.77% | 7.57% |
| Uninsured share of domestic deposits | 43.79% | 37.13% | 37.46% | 39.88% | 43.70% | 38.90% | 40.41% | 38.24% |
| Full-time equivalent employees | 345 | 363 | 359 | 357 | 365 | 358 | 352 | 330 |
| Number of offices | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of American National Bank and Trust Company, oldest first; figures before and after each event are not like for like.
- . Absorbed HomeTown Bank (FDIC certificate 58163).
- . Merged into Atlantic Union Bank (FDIC certificate 34589).
Large one-quarter moves at American National Bank and Trust Company
- Total assets at American National Bank and Trust Company changed by +29.6% in the quarter to 2019-06-30: Absorbtion - Without Assistance; Participated in Absorbtion/Consolidation/Merger: acquired from HomeTown Bank.
Questions and identifiers
What were the total assets of American National Bank and Trust Company?
American National Bank and Trust Company reported $3.1 bn at in its Call Report.
Is American National Bank and Trust Company the same as its holding company?
No. This page covers American National Bank and Trust Company, FDIC certificate 6837; AMERICAN NATL BANKSHARES INC (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is American National Bank and Trust Company profitable?
American National Bank and Trust Company reported net income of $6.9 mn for the year to ; annualized return on equity: 7.57%. So yes: American National Bank and Trust Company made a profit over these months.
When is data for American National Bank and Trust Company next updated?
American National Bank and Trust Company no longer files Call Reports; its data ends at .
Where can I check the figures for American National Bank and Trust Company?
In the FDIC BankFind Suite record for certificate 6837, and in the Call Reports of American National Bank and Trust Company (RSSD ID 958727) at the FFIEC Central Data Repository.