58.1-1205 - Computation of net capital. - Virginia Statutes

§ 58.1-1205. Computation of net capital.

The net capital of any bank shall be ascertained by adding together itscapital, surplus, undivided profits, and one half of any reserve for loanlosses net of applicable deferred tax to obtain gross capital and deductingtherefrom (i) the assessed value of real estate as provided in § 58.1-1206,(ii) the book value of tangible personal property under § 58.1-1206, (iii)the pro rata share of government obligations as set forth in § 58.1-1206,(iv) the capital accounts of any bank subsidiaries under § 58.1-1206, (v) theamount of any reserve for marketable securities valuation which is includedin capital, surplus and undivided profits as defined hereinabove to theextent that such reserve reflects the difference between the book value andthe market value of such marketable securities on December 31 next precedingthe date for filing the bank's return under § 58.1-1207, and (vi) the valueof goodwill described under subdivision A 5 of § 58.1-1206.

(Code 1950, § 58-485.07; 1980, c. 578; 1984, c. 675; 1999, c. 84; 2002, c.667.)