1st Atlantic Bank in Little River, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of December 31, 1993

  • 1st Atlantic Bank in Little River, South Carolina (SC)
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1st Atlantic Bank - Overview

  • General
  • FDIC Certificate #: 26606
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: The Anchor Bank (#21758)
    Federal Reserve ID: 28
    Date Established: March 21, 1986
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Interstate: No)
    FDIC's unique #: 35327
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: Yes
    Date of Deposit Insurance: March 21, 1986
    Last Structure Change Effective Date: December 31, 1993
    Last Structure Change Process Date: January 24, 1994
    Last Data Update: January 24, 1994
    Data Source Date: April 05, 2012
  • Location
  • Address: U.S. Highway 17 And Baldwin Avenue, Little River, SC 29566
    County: Horry
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Columbia Sc
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Myrtle Beach, SC (#5330)
    Combined Statistical Area (CSA): Myrtle Beach-Conway-Georgetown, SC (#396)
    Core Based Statistical Area (CBSA): Myrtle Beach-North Myrtle Beach-Conway, SC (#34820)
    CBSA Metro Statistical Area: Myrtle Beach-North Myrtle Beach-Conway, SC (#34820)
  • Financial Summary
  • Total assets: $45.8 mil

Assets and Liabilities (December 31, 1992)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $18Total assets
  • $37,367Cash and due from depository institutions
  • $1,841Interest-bearing balances
  • $207Securities
  • $4,985Federal funds sold & reverse repurchase agreements
  • $2,770Net loans & leases
  • $25,878Loan loss allowance
  • $208Trading account assets
  • $0Bank premises and fixed assets
  • $1,329Other real estate owned
  • $119Goodwill and other intangibles
  • $445Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $37,367Total liabilities
  • $34,773Total deposits
  • $34,396Interest-bearing deposits
  • $30,825Deposits held in domestic offices
  • 34396.00%% insured (estimated)
  • $92Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $58Subordinated debt
  • $0All other liabilities
  • $319Total equity capital
  • $319Total bank equity capital
  • $2,594Perpetual preferred stock
  • $0Common stock
  • $1,378Surplus
  • $689Undivided profits
  • Memoranda
  • $527Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $529Income earned, not collected on loans
  • $277Earning assets
  • $33,840Long-term assets (5+ years)
  • $1,279Average Assets, year-to-date
  • $33,848Average Assets, quarterly
  • $36,301Volatile liabilities
  • $6,319Insider loans
  • $0FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $3,232Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $2,594Total risk weighted assets
  • $26,021Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1992)

  • Dollar figures in thousands
  • $0Total interest income
  • $2,780Total interest expense
  • $1,313Net interest income
  • $1,467Provision for loan and lease losses
  • $118Total noninterest income
  • $209Fiduciary activities
  • $0Service charges on deposit accounts
  • $173Trading account gains & fees
  • $0Additional noninterest income
  • $36Total noninterest expense
  • $1,169Salaries and employee benefits
  • $536Premises and equipment expense
  • $146Additional noninterest expense
  • $487Pre-tax net operating income
  • $389Securities gains (losses)
  • $0Applicable income taxes
  • $150Income before extraordinary items
  • $239Extraordinary gains - net
  • $0Net income attributable to bank
  • $239Net charge-offs
  • $82Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1992)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 9.08%Cost of funding earning assets
  • 4.29%Net interest margin
  • 4.79%Noninterest income to earning assets
  • 0.68%Noninterest expense to earning assets
  • 3.82%Net operating income to assets
  • 0.71%Return on assets (ROA)
  • 0.71%Pretax return on assets
  • 1.15%Return on equity (ROE)
  • 9.60%Retained earnings to average equity (YTD only)
  • 9.60%Net charge-offs to loans
  • 0.35%Credit loss provision to net charge-offs
  • 143.90%Efficiency ratio
  • 69,749Assets per employee
  • 2.08%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.80%Loss allowance to noncurrent loans
  • 39.32%Noncurrent assets plus other real estate owned to assets
  • 1.73%Noncurrent loans to loans
  • 2.03%Net loans and leases to deposits
  • 75.24%Net loans and leases to core deposits
  • 91.98%Equity capital to assets
  • 6.94%Core capital (leverage) ratio
  • 7.06%Tier 1 risk-based capital ratio
  • 9.97%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $33,848Average earning assets
  • $2,490Average equity
  • $30,628Average loans

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