FDIC Certificate #: 32366 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Bank of the Carolinas (#34903) Federal Reserve ID: 320276 Date Established: April 04, 1913 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) OTS Docket #: 8189 FDIC's unique #: 45200 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: July 26, 1985 Last Structure Change Effective Date: December 31, 2001 Last Structure Change Process Date: January 22, 2002 Last Data Update: January 22, 2002 Data Source Date: April 05, 2012
Location
Address: 107 South Central Avenue, Landis, NC 28088 County: Rowan 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): Salisbury, NC (#41580) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $45.4 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2000)
Dollar figures in thousands
9Total employees (full-time equivalent)
$35,027Total assets
$929Cash and due from depository institutions
$446Interest-bearing balances
$5,230Securities
$1,894Federal funds sold & reverse repurchase agreements
$25,638Net loans & leases
$39Loan loss allowance
$0Trading account assets
$1,073Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$263All other assets
$35,027Total liabilities and capital
$27,059Total liabilities
$26,866Total deposits
$26,321Interest-bearing deposits
$26,866Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$193All other liabilities
$7,968Total equity capital
$7,968Total bank equity capital
$7,968Perpetual preferred stock
$0Common stock
$2,500Surplus
$2,621Undivided profits
Memoranda
$2,847Noncurrent loans and leases
$4,999Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$0Earning assets
$0Long-term assets (5+ years)
$24Average Assets, year-to-date
$33,208Average Assets, quarterly
$13,642Volatile liabilities
$33,057Insider loans
$34,372FHLB advances
$4,477Loans and leases held for sale
$422Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$4,999Total unused commitments
$0Restructured Loans and leases
$39Derivatives
Income and Expense (December 31, 2000)
Dollar figures in thousands
$2,499Total interest income
$1,339Total interest expense
$1,160Net interest income
$9Provision for loan and lease losses
$117Total noninterest income
$0Fiduciary activities
$1Service charges on deposit accounts
$0Trading account gains & fees
$116Additional noninterest income
$1,060Total noninterest expense
$672Salaries and employee benefits
$107Premises and equipment expense
$281Additional noninterest expense
$208Pre-tax net operating income
-$13Securities gains (losses)
$60Applicable income taxes
$135Income before extraordinary items
$0Extraordinary gains - net
$135Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$0Sale, conversion, retirement of capital stock, net
$2,000Net operating income
Performance and Condition Ratios (December 31, 2000)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.02%Yield on earning assets
4.30%Cost of funding earning assets
3.72%Net interest margin
0.38%Noninterest income to earning assets
3.40%Noninterest expense to earning assets
0.44%Net operating income to assets
0.41%Return on assets (ROA)
0.59%Pretax return on assets
1.65%Return on equity (ROE)
-22.75%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
83,007Assets per employee
3.89%Cash dividends to net income (YTD only)
Condition Ratios (%)
1481.48%Loss allowance to loans
0.15%Loss allowance to noncurrent loans
0.00%Noncurrent assets plus other real estate owned to assets
0.00%Noncurrent loans to loans
0.00%Net loans and leases to deposits
95.43%Net loans and leases to core deposits
114.51%Equity capital to assets
22.75%Core capital (leverage) ratio
23.07%Tier 1 risk-based capital ratio
38.89%Total risk-based capital ratio
Memoranda
$39Average assets
$33,057Average earning assets
$8,198Average equity
$31,157Average loans
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