Last $6.40 USD
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Volume 4.1K
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NASDAQ CM
As of 8:10 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

One James Center

Suite 1700

901 East Cary Street

Richmond, VA 23219

United States

Phone: 804-433-2200

Fax:

Xenith Bankshares, Inc. operates as the holding company for Xenith Bank that provides various commercial banking products and services. The company’s primarily targets the banking needs of middle market and small businesses, local real estate developers and investors, private banking clients, and select retail banking clients. The company is focused geographically on the Greater Washington, DC, Richmond, Virginia, and the Greater Hampton Roads, Virginia, metropolitan statistical areas (its ‘target markets’). The company conducts its principal banking activities through its six branches, with one branch located in Tysons Corner, Virginia; two branches located in Richmond, Virginia; and three branches located in Suffolk, Virginia. It offers a range of checking, savings, and treasury products, including remote deposit capture, automated clearing house transactions, debit cards, 24-hour automated teller (ATM) access, and Internet and mobile banking and bill pay service. Products and Services The company offers a range of banking products and services, including commercial and consumer checking accounts, noninterest-bearing demand accounts, money market accounts, savings accounts, and time deposits. It offers secured and unsecured commercial and industrial loans, commercial real estate (CRE) loans (including construction and land development loans), residential real estate loans, and consumer loans. The company further offers Internet and mobile banking services. The company is a member of the START and PLUS ATM networks, which provide customers with access to ATMs worldwide. Deposits and Treasury Management Services The company’s product offerings include retail and commercial online banking (its online capabilities include images, statements, stop payment, deposit reporting, account transfers, account reconciliation, and electronic data interchange reporting), ACH (automated clearing house), wire transfers (both domestic and international), zero balance accounts, sweeps, commercial charge card, commercial lock box, and mobile banking services. It also offers fraud prevention tools, including debit block, check positive pay, and ACH positive pay. In addition to these services, the company offers remote deposit capture, direct deposit, and merchant services. Lending Products The company offers a range of lending products to commercial and industrial, CRE, private banking, and select retail clients. Commercial and Industrial Loans: The company’s commercial borrowers are primarily small to middle market businesses engaged in a spectrum of businesses. Commercial and industrial loans could be a source of working capital, or used to finance the purchase of equipment or to complete an acquisition. The company also makes owner-occupied real estate (OORE) loans. OORE loans are secured in part by the value of real estate that is generally the offices or production facilities of the borrower. Real Estate Loans: The company makes CRE loans, construction and land development loans, and residential real estate loans. It makes CRE loans on income-producing properties. The primary collateral for CRE loans is a first lien mortgage on multi-family, office, warehouse, hotel or retail property, plus assignments of all rents and leases related to the property. The company also makes construction and land development loans to builders and developers who are located in its target markets. The company’s lending activities include the origination of first and second lien loans, including home equity line of credit loans, secured by residential real estate that is located primarily in its target markets offered to select customers. Consumer Loans: Consumer loans primarily include home equity lines secured by borrower’s primary residence in the company’s target markets and loans to its branch customers and private banking clients for consumer or business purposes. Guaranteed Student Loans: During 2013, the company began purchasing guaranteed student loans, a portion of which are guaranteed by the federal government. These loans were originated under the Federal Family Education Loan Program (FFELP), authorized by the Hi

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XBKS Competitors

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Company Last Change
Auburn National Bancorporation Inc $22.10 USD -0.70
Benchmark Bankshares Inc $12.11 USD -0.39
Eagle Financial Services Inc $22.90 USD 0.00
Fauquier Bankshares Inc $19.60 USD 0.00
Oak Valley Bancorp $10.23 USD +0.23
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XBKS

Industry Average

Valuation XBKS Industry Range
Price/Earnings 79.2x
Price/Sales 3.3x
Price/Book 0.9x
Price/Cash Flow 84.8x
TEV/Sales 0.8x
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