The Bank of Monroe, Financial Information

AboutThe Bank of Monroe

 Address:
39 Main Street
Union,WV
Monroe County,West Virginia
 Established:
Nov 1903
 Number of domestic offices:
3
Total assets$173M
Net income$2M
Net income,quarterly$0M
Total deposits$150M
Domestic deposits$150M
Equity capital$22M
ROA1.05%
ROAQ,quarterly0.96%
ROA,pretax0.96%
ROAQ,quarterly,pretax1.17%
ROE7.89%
ROEQ,quarterly7.33%
UpdatedMay 20, 2021

Terms and Definitions

  • Domestic deposits
    The sum of all domestic deposits, including demand deposits, money market deposits and time deposits.
  • Equity capital
    Total equity capital (includes preferred and common stock, surplus and undivided profits).
  • ROA
    Return on assets, net income after taxes and extraordinary items (annualized) as a percent of average total assets.
  • ROE
    Return on equity, annualized net income as a percent of average equity on a consolidated basis.

Through the decades, Bank of Monroe has been a partner with the citizens of southeastern West Virginia through two world wars, the Great Depression, recessions and has joined in celebrating good economic times as well. The bank's commitment assisting the community includes a wide range of activities. It was one of the first sponsors of the annual Farmer's Day celebration, and has been a catalyst for literally dozens of business startups and the improvement of hundreds of homes and properties.

Along with the steady growth of the bank's business has been the necessary growth of the company's physical assets. The bank building which has served for so many years was completely razed and replaced with a new structure in 1965, which remains as the bank's primary location and Indeed, bank has come a long way from this entry from the first meeting of the stockholders on November 12, 1903. The most recent major capital investment, a full-service branch near Lewisburg, Greenbrier County was opened in 2002 and has shown very encouraging growth Over one hundred years after its founding, Bank of Monroe continues to function as an independent community banking institution with sound and prudent management.

In order to position itself most advantageously in today's banking environment, the corporation re-formed itself in 1998 as Union Bankshares, Incorporated, retaining the name of The Bank of Monroe for its operations as a wholly owned subsidiary. As to the future, Bank of Monroe will carefully build upon its successful foundations, providing the highest quality of banking services.

39 Main Street
Union, West Virginia 24983

Mon - Fri 9:00 am - 5:00 pm
Sat - Sun Closed