FDIC Certificate #: 13191 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:First-Citizens Bank & Trust Company (#11063) Federal Reserve ID: 932820 Date Established: October 16, 1913 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 8349 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: January 01, 1934 Last Structure Change Effective Date: October 20, 2003 Last Structure Change Process Date: November 13, 2003 Last Data Update: November 13, 2003 Data Source Date: April 05, 2012
Location
Address: Estatoa Street, Newland, NC 28657 County: Avery Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Charlotte Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Southeast
Financial Summary
Total assets: $71.8 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2002)
Dollar figures in thousands
12Total employees (full-time equivalent)
$72,011Total assets
$2,857Cash and due from depository institutions
$0Interest-bearing balances
$49,139Securities
$4,275Federal funds sold & reverse repurchase agreements
$14,965Net loans & leases
$358Loan loss allowance
$0Trading account assets
$85Bank premises and fixed assets
$31Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$659All other assets
$72,011Total liabilities and capital
$54,644Total liabilities
$54,488Total deposits
$40,457Interest-bearing deposits
$54,488Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$156All other liabilities
$17,367Total equity capital
$17,367Total bank equity capital
$17,367Perpetual preferred stock
$0Common stock
$192Surplus
$2,000Undivided profits
Memoranda
$15,175Noncurrent loans and leases
$1,038Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$116Earning assets
$0Long-term assets (5+ years)
$587Average Assets, year-to-date
$68,379Average Assets, quarterly
$41,966Volatile liabilities
$68,226Insider loans
$70,558FHLB advances
$6,652Loans and leases held for sale
$540Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$1,038Total unused commitments
$0Restructured Loans and leases
$246Derivatives
Income and Expense (December 31, 2002)
Dollar figures in thousands
$4,291Total interest income
$1,050Total interest expense
$3,241Net interest income
$100Provision for loan and lease losses
$197Total noninterest income
$0Fiduciary activities
$171Service charges on deposit accounts
$0Trading account gains & fees
$26Additional noninterest income
$936Total noninterest expense
$521Salaries and employee benefits
$77Premises and equipment expense
$338Additional noninterest expense
$2,402Pre-tax net operating income
-$46Securities gains (losses)
$0Applicable income taxes
$2,356Income before extraordinary items
$0Extraordinary gains - net
$2,356Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$204Sale, conversion, retirement of capital stock, net
$1,709Net operating income
Performance and Condition Ratios (December 31, 2002)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.68%Yield on earning assets
1.64%Cost of funding earning assets
5.05%Net interest margin
0.31%Noninterest income to earning assets
1.46%Noninterest expense to earning assets
3.52%Net operating income to assets
3.45%Return on assets (ROA)
3.45%Pretax return on assets
14.24%Return on equity (ROE)
3.91%Retained earnings to average equity (YTD only)
1.36%Net charge-offs to loans
49.02%Credit loss provision to net charge-offs
12.26%Efficiency ratio
27,225Assets per employee
6.00%Cash dividends to net income (YTD only)
Condition Ratios (%)
72.54%Loss allowance to loans
2.34%Loss allowance to noncurrent loans
308.62%Noncurrent assets plus other real estate owned to assets
0.20%Noncurrent loans to loans
0.76%Net loans and leases to deposits
27.46%Net loans and leases to core deposits
31.28%Equity capital to assets
24.12%Core capital (leverage) ratio
23.07%Tier 1 risk-based capital ratio
83.35%Total risk-based capital ratio
Memoranda
$85Average assets
$68,226Average earning assets
$16,549Average equity
$64,213Average loans
Comment about this bank, ask questions, or add new information about it:
This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Avery County Bank.
Based on public records. Inadvertent errors are possible. bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.
Comment about this bank, ask questions, or add new information about it: