FDIC Certificate #: 32347 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Bank of North Carolina (#33527) Federal Reserve ID: 341178 Date Established: March 01, 1978 Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 11 (Interstate: No) OTS Docket #: 8169 FDIC's unique #: 45181 Numeric code: 41 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: June 26, 1985 Last Structure Change Effective Date: October 14, 2011 Last Structure Change Process Date: October 17, 2011 Last Data Update: October 17, 2011 Data Source Date: April 05, 2012
Location
Address: 20 South Pack Square, Asheville, NC 28816 County: Buncombe 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): Asheville, NC (#480) Combined Statistical Area (CSA): Asheville-Brevard, NC (#120) Core Based Statistical Area (CBSA): Asheville, NC (#11700) CBSA Metro Statistical Area: Asheville, NC (#11700)
Financial Summary
Total assets: $161.4 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2010)
Dollar figures in thousands
43Total employees (full-time equivalent)
$171,413Total assets
$17,303Cash and due from depository institutions
$16,112Interest-bearing balances
$2,843Securities
$1,340Federal funds sold & reverse repurchase agreements
$107,798Net loans & leases
$5,377Loan loss allowance
$0Trading account assets
$4,512Bank premises and fixed assets
$33,394Other real estate owned
$0Goodwill and other intangibles
$2,987Life insurance assets
$4,223All other assets
$171,413Total liabilities and capital
$163,372Total liabilities
$162,953Total deposits
$159,773Interest-bearing deposits
$162,953Deposits held in domestic offices
97.95%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$419All other liabilities
$8,041Total equity capital
$8,041Total bank equity capital
$8,041Perpetual preferred stock
$0Common stock
$5,953Surplus
$6,550Undivided profits
Memoranda
$-4,462Noncurrent loans and leases
$2,118Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$10,464Earning assets
$0Long-term assets (5+ years)
$569Average Assets, year-to-date
$128,093Average Assets, quarterly
$1,236Volatile liabilities
$195,166Insider loans
$177,103FHLB advances
$39,234Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$2,118Total unused commitments
$34,396Restructured Loans and leases
$1,690Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$7,920Total interest income
$3,454Total interest expense
$4,466Net interest income
$1,363Provision for loan and lease losses
-$1,073Total noninterest income
$0Fiduciary activities
$65Service charges on deposit accounts
$0Trading account gains & fees
-$1,138Additional noninterest income
$6,302Total noninterest expense
$2,123Salaries and employee benefits
$1,161Premises and equipment expense
$3,018Additional noninterest expense
-$4,272Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
-$4,272Income before extraordinary items
$0Extraordinary gains - net
-$4,272Net income attributable to bank
$0Net charge-offs
-$4,272Cash dividends
$4,153Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.15%Yield on earning assets
2.25%Cost of funding earning assets
2.90%Net interest margin
-0.70%Noninterest income to earning assets
4.10%Noninterest expense to earning assets
-2.19%Net operating income to assets
-2.19%Return on assets (ROA)
-2.19%Pretax return on assets
-54.91%Return on equity (ROE)
-54.91%Retained earnings to average equity (YTD only)
3.11%Net charge-offs to loans
32.82%Credit loss provision to net charge-offs
-0.70%Efficiency ratio
185,735Assets per employee
3.99%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
4.75%Loss allowance to noncurrent loans
51.39%Noncurrent assets plus other real estate owned to assets
25.59%Noncurrent loans to loans
9.25%Net loans and leases to deposits
66.15%Net loans and leases to core deposits
87.13%Equity capital to assets
4.69%Core capital (leverage) ratio
4.52%Tier 1 risk-based capital ratio
6.11%Total risk-based capital ratio
Memoranda
$7Average assets
$195,166Average earning assets
$7,779Average equity
$153,776Average loans
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