Last $1.71 USD
Change Today +0.01 / 0.59%
Volume 31.1K
As of 8:10 PM 05/23/16 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

641 Lynnhaven Parkway

Virginia Beach, VA 23452

United States

Phone: 757-217-1000

Fax:

Hampton Roads Bankshares, Inc. operates as the holding company for Bank of Hampton Roads (BOHR) that engages in a general community and commercial banking business, targeting the needs of individuals and small—to medium-sized businesses. The company’s primary products are traditional loan and deposit banking services. The company’s market area includes the Hampton Roads region, including the cities of Chesapeake, Norfolk, Virginia Beach, Portsmouth, and Suffolk, Virginia; the Northeastern and Research Triangle regions of North Carolina; the Eastern Shore of Virginia and Maryland; the Baltimore region of Maryland; Richmond, Virginia; Ocean City, Maryland; and Rehoboth Beach, Delaware. The company offers a range of interest-bearing and noninterest-bearing deposit accounts, including commercial and retail checking accounts, negotiable order of withdrawal accounts, savings accounts, and individual retirement accounts, as well as certificates of deposit with a range of maturity date options. The primary sources of deposits are small- and medium-sized businesses and individuals within the company’s target markets. Additionally, it may obtain both national certificates of deposit and brokered certificates of deposit. All deposit accounts are insured by the Federal Deposit Insurance Corporation (FDIC) up to the maximum allowed by law of $250,000. The company offers a range of commercial, real estate, and consumer loans. Its loan portfolio consists of various categories, such as commercial and industrial, construction, real estate-commercial mortgage, real estate-residential mortgage, and installment. Commercial and industrial loans are loans to businesses that are typically not collateralized by real estate. Generally, the purpose of commercial and industrial loans is for the financing of accounts receivable, inventory, or equipment and machinery. Construction loans are made to individuals and businesses for the purpose of construction of single family residential properties, multi-family properties, and commercial projects, as well as the development of residential neighborhoods and commercial office parks. Commercial mortgage loans are made for the purchase and re-financing of owner occupied commercial properties, as well as non-owner occupied income producing properties. The company’s residential mortgage portfolio includes first and junior lien mortgage loans, home equity lines of credit, and other term loans secured by first and junior lien mortgages. Installment loans are made on a regular basis for personal, family, and general household purposes. More specifically, the company makes automobile loans, marine loans, home improvement loans, loans for vacations, and debt consolidation loans. Loans are secured primarily by duly recorded first deeds of trust. Commercial land acquisition and construction loans are secured by real property where loan proceeds would be used to acquire land and to construct or improve appropriately zoned real property for the creation of income producing or owner user commercial properties. The company is also an active traditional commercial lender providing loans for various purposes, including cash flow, equipment and accounts receivable financing. Residential home mortgage loans, including home equity lines and loans, make up 22.7% of the loan portfolio. The company offers other banking-related specialized products and services to its customers, such as travelers’ checks, coin counters, wire services, online banking, and safe deposit box services. Additionally, it offers its commercial customers various cash management products, including remote deposit. Its merchant services offers a suite of payment processing solutions tailored to retailers and other specific industries allowing processing of all major credit cards 24 hours a day 365 days a year. The company issues letters of credit and standby letters of credit, most of which are related to real estate construction loans, for some of its commercial customers. The company also facilitates the use of back-to-back swaps to help it and its customers manage interest rate risk. Through Gateway Bank Mortgage, Inc., a wholly

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Price/Earnings 3.2x
Price/Sales 3.1x
Price/Book 1.0x
Price/Cash Flow 3.1x
TEV/Sales 2.0x
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