# BANK OF THE COMMONWEALTH
NORFOLK, VA · FDIC certificate 20408 · asset band $300M-1B · latest filing 2011-06 · FAILED

**Verdict on the desk:** this could be *credit-stressed*. Composite score 12 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $985.1M | |
| Deposits | $901.8M | |
| Loans and leases | $839.7M | |
| Total equity | $16.7M | |
| Loans / deposits | 86.49% (p70 of band) | 78.35% |
| Liquid assets / assets | 9.96% (p4 of band) | |
| Uninsured deposits / deposits | 1.03% (p3 of band) | 11.83% |
| Brokered deposits | 33.54% | |
| Wholesale funding | 39.88% (p99 of band) | |
| FHLB advances / assets | 6.34% | |
| Tier 1 leverage | 1.61% (p1 of band) | 9.34% |
| Unrealized securities loss / equity | 1.32% (p31 of band) | 2.85% |
| AOCI / equity | 2.11% (p66 of band) | |
| ROA (annualized) | -6.31% (p1 of band) | 0.66% |
| Net interest margin | 2.70% (p7 of band) | 3.72% |
| Efficiency ratio | 145.09% (p98 of band) | |
| Noncurrent loans | 17.98% (p98 of band) | 2.17% |
| Net charge-offs (annualized) | 9.04% (p100 of band) | |
| Reserve coverage of noncurrent | 39.50% | |
| Real estate % of loans | 93% | |
| Construction % of loans | 516.80% (p100 of band) | |
| Auto loans | $777,000 (0.09% of loans; DQ 29.73%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p45 of band) | |
| Deposits YoY | – | |
| Employees | 201 | |

## Flags firing in the latest filing

- **brokered >10%** (`liq_brokered`)
- **wholesale funding >15%** (`liq_wholesale`)
- **liquid assets <10%** (`liq_thin`)
- **leverage <7%** (`cap_low`)
- **leverage <5%** (`cap_critical`)
- **losing money** (`earn_negative`)
- **expense ratio p90** (`earn_efficiency`)
- **noncurrent p90** (`aq_noncurrent`)
- **charge-offs p90** (`aq_nco`)
- **reserve under noncurrent** (`aq_reserve`)
- **construction >100% equity** (`conc_construction`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 12 | brokered >10%, wholesale funding >15%, liquid assets <10%, leverage <7%, leverage <5%, losing money, expense ratio p90, noncurrent p90, charge-offs p90, reserve under noncurrent, construction >100% equity |  |
| 2011-06 | 12 |  |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2026-02-18 [List Of Failed Banks: 2009-2026 - Bankrate](https://news.google.com/rss/articles/CBMiZEFVX3lxTFAtbi1TaWMteGEyOHdQbnlXd0tPRzM2WFJQZjdPdzViQTZFLVVHODJRTEdqRWhnMkxIOG5xMUVSWU5iNHZSbVpnQ2Z4TWdiMDVwN2NTdUNGd3dXZ2tGcGZ2VWVJRnM?oc=5) · Bankrate
- 2024-03-25 [The Failure of the Bank of the Commonwealth: An Early Example of Interest Rate Risk - Federal Reserve Bank of Cleveland](https://news.google.com/rss/articles/CBMisgFBVV95cUxQSk5mSE1kTHNRRXhLd25EcWd1QnlBUW5YU3I0ZGJsN25LaC1Eb0FTYmE4d0RPdU9ZSEZmZW9FczZscEwtMDRta0QybWh5Q1Z0Q1pFcGltaFVaRTFZcTNZOVQ5akQzSnVtWEdTd0h2RndzUnhIVjRzT2lndTl1ajRTYlFFRkFVbEw3d1ZlRThZVklJbnBRZFpuWFFRcnJDcDNLYkY0Q1RFaUo0MWR0SURYUGR3?oc=5) · Federal Reserve Bank of Cleveland
- 2020-06-30 [Leader of scheme that caused Bank of the Commonwealth collapse set for release - 13newsnow.com](https://news.google.com/rss/articles/CBMi9wFBVV95cUxQbUNQb2I1X3hMWjE3amxJalNlcW5ramR2dU1VaUNEdzJMWWYzY1hLVldVUGJsdHpxaTZib3FPZUR5cVRZSVV0Um1xRUpOU1pkbnVabHlCUF9GMHUySDc1NjRTMXFVeWhmOEdZMHJ6ODJxT3pCbE1GYk5mUE5QU0dKQ1BKUHN5RHQ1YVBPLXI0ZDI2Z0txYy1WTXB6ZTFsRUlzLU9Dbktna0dEUW5HODltWUU0Z01IaG8tZmRGaENrSTFFZGVfUTB4ejdySFFTM2U3RlFtSUhEeUUzVnhnVzF2SFQ4T09JZlFvSmcyTTQtdnNReV9lYmdr?oc=5) · 13newsnow.com
- 2016-03-03 [Virginia, Eastern - Department of Justice (.gov)](https://news.google.com/rss/articles/CBMiggFBVV95cUxQaFpzQzhldUdscEV6b1hRQTF4aXhsczNYVVpTVUN2SUR5RXF1ZlJoS1prOFd6MW4xOWZmZzhzc2tzZFNFaDV2S1RzTlNDUGhyOUJOMkxvQXh4MHh1eExqMk1WY1QtQ0VCczhmZEdhSmxIVkJFbWcyVENRSUpmdUdfMVhB?oc=5) · Department of Justice (.gov)
- 2012-08-24 [Virginia, Eastern - Department of Justice (.gov)](https://news.google.com/rss/articles/CBMif0FVX3lxTE5ET291S0gwNjQyUTBYWDZvVjVlOXpKVVIteUxacEhTUXBscnJBX0VzVDdtQWJmd1BBal83R0g3aGFKeERfakpjNHV1ZTZMbHRfZGZidXNDRFdpSmNpUkJ0dHBJMENuUjhoQndJRW5mM2ZKZl9INVptOEJKOFlkeHM?oc=5) · Department of Justice (.gov)
- 2012-01-31 [Donald F. Price Joins The Bank of Hampton Roads as Senior Loan Officer - GlobeNewswire](https://news.google.com/rss/articles/CBMi2wFBVV95cUxNZ19aRFlIbmQ5YjBnWGRGSng1dzN6cWdRUUhXRUdlSlROMUdHeUF5RlJldDdab043Z21jSWVjWGI5OVY5ZmpqeGhodDd5YllTdUF2SFNuMTJldEdkYWg1d2I5QzRkWTFRSFhuV1pDYkRtUXFVZE5pZVJ2ZU03MXd5N3VJMUZjeGVtTHA0THpjMjBuTVJQbHdvWklvSDhKZ3d5LW1fZnRMcWdCYm1ITGFRaHB0TndPTE9zc05qV1NrRENucmsyYWpYS1VLSGU2OUZGNV91SHdkOUQ5eTQ?oc=5) · GlobeNewswire
- 2025-02-24 [Richard R. Early Obituary (2025) - PORTSMOUTH, VA - B.W. Foster Funeral Home - Portsmouth - SMH.com.au](https://news.google.com/rss/articles/CBMimAFBVV95cUxQeVpncUxtV0NzSnJyTlhmeHExdHpLZlNIa2VNWV9pRHVfX1owRGxWT0hVYUU3cDhidEZrX0g0QkZabjdRLXRXa2J3bjVQXzA5T0pIUmhLY1RQWTdReDUtNmNCNWdITFZVMlE0LWtOb0FkWlg4amJvU0ZEWXZSSkt2aU5YQUE4MV9TQ0ZSOWl3V1lFdXp3QXlTTg?oc=5) · SMH.com.au
- 2016-11-21 [Burfoot corruption trial enters its third week - 13newsnow.com](https://news.google.com/rss/articles/CBMivAFBVV95cUxOZXFXVmxOZ0FVcjE4V3pJMEwxWk5Fc1JjNXZwTDZMaFlwc0RjTGRsdTdaZ0RBUDNGNlYyQU1KRFhBX3lwTHlvLTN2cVhOOVh4ZTNxRFpHdzVpZzRiMkJ1SnJpbElJTlZqdkJ6OVJMQXpsV3g4MDVkR1ZxNnZGWWUxWHFienEzVGJoNk1BSXZacW9JUlRWaTBTOTdDUWItaTZMYXhxeE51YVpFTjljY2FjMWFzcFBnVEVvWVRoOA?oc=5) · 13newsnow.com

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=20408 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/56.json (key "20408", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide