Bank of Union in Monroe, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 10, 1998

  • Bank of Union in Monroe, North Carolina (NC)
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Bank of Union - Overview

  • General
  • FDIC Certificate #: 26400
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: First Charter Bank (#4886)
    Federal Reserve ID: 953021
    Date Established: October 14, 1985
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 5 (Interstate: No)
    OTS Docket #: 10243
    FDIC's unique #: 33008
    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: October 14, 1985
    Last Structure Change Effective Date: September 10, 1998
    Last Structure Change Process Date: September 23, 1998
    Last Data Update: September 23, 1998
    Data Source Date: April 05, 2012
  • Location
  • Address: 201 North Charlotte Avenue, Monroe, NC 28112
    County: Union
    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
    Metropolitan Statistical Area (MSA): Charlotte-Gastonia-Rock Hill, NC-SC (#1520)
    Combined Statistical Area (CSA): Charlotte-Gastonia-Salisbury, NC-SC (#172)
    Core Based Statistical Area (CBSA): Charlotte-Gastonia-Rock Hill, NC-SC (#16740)
    CBSA Metro Statistical Area: Charlotte-Gastonia-Rock Hill, NC-SC (#16740)
  • Financial Summary
  • Total assets: $206.9 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1997)

  • Dollar figures in thousands
  • 56Total employees (full-time equivalent)
  • $192,256Total assets
  • $10,391Cash and due from depository institutions
  • $1,646Interest-bearing balances
  • $46,888Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $129,433Net loans & leases
  • $1,806Loan loss allowance
  • $0Trading account assets
  • $2,738Bank premises and fixed assets
  • $413Other real estate owned
  • $34Goodwill and other intangibles
  • $0Life insurance assets
  • $2,359All other assets
  • $192,256Total liabilities and capital
  • $175,407Total liabilities
  • $165,540Total deposits
  • $134,193Interest-bearing deposits
  • $165,540Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $3,889Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $4,343Other borrowed funds
  • $0Subordinated debt
  • $1,635All other liabilities
  • $16,849Total equity capital
  • $16,849Total bank equity capital
  • $16,849Perpetual preferred stock
  • $0Common stock
  • $2,740Surplus
  • $5,062Undivided profits
  • Memoranda
  • $9,047Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $199Earning assets
  • $0Long-term assets (5+ years)
  • $834Average Assets, year-to-date
  • $177,967Average Assets, quarterly
  • $34,800Volatile liabilities
  • $176,980Insider loans
  • $189,174FHLB advances
  • $32,108Loans and leases held for sale
  • $1,183Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $1,481Total risk weighted assets
  • $45,843Total unused commitments
  • $0Restructured Loans and leases
  • $138,600Derivatives

Income and Expense (December 31, 1997)

  • Dollar figures in thousands
  • $13,904Total interest income
  • $6,351Total interest expense
  • $7,553Net interest income
  • $325Provision for loan and lease losses
  • $2,718Total noninterest income
  • $0Fiduciary activities
  • $1,175Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,543Additional noninterest income
  • $5,800Total noninterest expense
  • $2,467Salaries and employee benefits
  • $581Premises and equipment expense
  • $2,752Additional noninterest expense
  • $4,146Pre-tax net operating income
  • $3Securities gains (losses)
  • $1,280Applicable income taxes
  • $2,869Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,869Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $147Sale, conversion, retirement of capital stock, net
  • $900Net operating income

Performance and Condition Ratios (December 31, 1997)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 8.50%Yield on earning assets
  • 3.88%Cost of funding earning assets
  • 4.62%Net interest margin
  • 1.66%Noninterest income to earning assets
  • 3.54%Noninterest expense to earning assets
  • 1.62%Net operating income to assets
  • 1.62%Return on assets (ROA)
  • 2.34%Pretax return on assets
  • 18.21%Return on equity (ROE)
  • 12.50%Retained earnings to average equity (YTD only)
  • 0.13%Net charge-offs to loans
  • 221.09%Credit loss provision to net charge-offs
  • 30.41%Efficiency ratio
  • 56,002Assets per employee
  • 3.43%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 31.37%Loss allowance to loans
  • 1.38%Loss allowance to noncurrent loans
  • 907.54%Noncurrent assets plus other real estate owned to assets
  • 0.32%Noncurrent loans to loans
  • 0.15%Net loans and leases to deposits
  • 78.19%Net loans and leases to core deposits
  • 92.50%Equity capital to assets
  • 8.76%Core capital (leverage) ratio
  • 8.69%Tier 1 risk-based capital ratio
  • 11.88%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $176,980Average earning assets
  • $15,754Average equity
  • $163,614Average loans

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