FDIC Certificate #: 27789 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Capital Bank (#34452) Federal Reserve ID: 662770 Date Established: January 01, 1914 WWW:http://www.1ststatebanknc.com Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 7 (Interstate: No) OTS Docket #: 286 FDIC's unique #: 40623 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Savings Association Insurance Fund (SAIF) Insured commercial Banks: Yes FDIC Insured: Yes SAIF Insured: Yes State Chartered: Yes Date of Deposit Insurance: December 13, 1934 Last Structure Change Effective Date: January 17, 2006 Last Structure Change Process Date: Febuary 15, 2006 Last Data Update: Febuary 15, 2006 Data Source Date: April 05, 2012
Location
Address: 445 South Main Street, Burlington, NC 27215 County: Alamance Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Raleigh Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Southeast Metropolitan Statistical Area (MSA): Greensboro--Winston-Salem--High Point, NC (#3120) Combined Statistical Area (CSA): Greensboro-Winston-Salem-High Point, NC (#268) Core Based Statistical Area (CBSA): Burlington, NC (#15500) CBSA Metro Statistical Area: Burlington, NC (#15500)
Financial Summary
Total assets: $370.4 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2005)
Dollar figures in thousands
72Total employees (full-time equivalent)
$370,428Total assets
$8,293Cash and due from depository institutions
$1,769Interest-bearing balances
$108,821Securities
$0Federal funds sold & reverse repurchase agreements
$233,407Net loans & leases
$4,254Loan loss allowance
$0Trading account assets
$7,279Bank premises and fixed assets
$64Other real estate owned
$439Goodwill and other intangibles
$0Life insurance assets
$12,125All other assets
$370,428Total liabilities and capital
$308,463Total liabilities
$271,499Total deposits
$247,190Interest-bearing deposits
$271,499Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$35,781Other borrowed funds
$0Subordinated debt
$1,183All other liabilities
$61,965Total equity capital
$61,965Total bank equity capital
$61,965Perpetual preferred stock
$0Common stock
$6,000Surplus
$21,476Undivided profits
Memoranda
$34,489Noncurrent loans and leases
$81,465Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$2,393Earning assets
$0Long-term assets (5+ years)
$2,540Average Assets, year-to-date
$343,997Average Assets, quarterly
$75,357Volatile liabilities
$369,381Insider loans
$367,996FHLB advances
$82,520Loans and leases held for sale
$16,844Unused loan commitments
$34,000Tier 1 (core) risk-based capital
$1,312Tier 2 risk-based capital
$1,312Total risk weighted assets
$81,465Total unused commitments
$0Restructured Loans and leases
$3,558Derivatives
Income and Expense (December 31, 2005)
Dollar figures in thousands
$19,629Total interest income
$6,880Total interest expense
$12,749Net interest income
$807Provision for loan and lease losses
$1,952Total noninterest income
$0Fiduciary activities
$926Service charges on deposit accounts
$0Trading account gains & fees
$1,026Additional noninterest income
$8,141Total noninterest expense
$5,428Salaries and employee benefits
$1,324Premises and equipment expense
$1,389Additional noninterest expense
$5,753Pre-tax net operating income
-$2Securities gains (losses)
$2,096Applicable income taxes
$3,655Income before extraordinary items
$0Extraordinary gains - net
$3,655Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$538Sale, conversion, retirement of capital stock, net
$3,000Net operating income
Performance and Condition Ratios (December 31, 2005)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.66%Yield on earning assets
1.98%Cost of funding earning assets
3.68%Net interest margin
0.56%Noninterest income to earning assets
2.35%Noninterest expense to earning assets
0.99%Net operating income to assets
0.99%Return on assets (ROA)
1.56%Pretax return on assets
5.95%Return on equity (ROE)
1.07%Retained earnings to average equity (YTD only)
0.23%Net charge-offs to loans
150.00%Credit loss provision to net charge-offs
12.19%Efficiency ratio
55,377Assets per employee
5.14%Cash dividends to net income (YTD only)
Condition Ratios (%)
82.08%Loss allowance to loans
1.79%Loss allowance to noncurrent loans
177.77%Noncurrent assets plus other real estate owned to assets
0.66%Noncurrent loans to loans
1.01%Net loans and leases to deposits
85.97%Net loans and leases to core deposits
114.99%Equity capital to assets
16.73%Core capital (leverage) ratio
17.15%Tier 1 risk-based capital ratio
22.42%Total risk-based capital ratio
Memoranda
$24Average assets
$369,381Average earning assets
$61,432Average equity
$346,787Average loans
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