Carolina Commerce Bank in Gastonia, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 15, 2009

  • Carolina Commerce Bank in Gastonia, North Carolina (NC)
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Carolina Commerce Bank - Overview

  • General
  • FDIC Certificate #: 57717
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Carolina Trust Bank (#57026)
    Federal Reserve ID: 3275283
    Date Established: June 20, 2004
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Interstate: No)
    FDIC's unique #: 422953
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: June 20, 2004
    Last Structure Change Effective Date: October 15, 2009
    Last Structure Change Process Date: November 30, 2009
    Last Data Update: November 30, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 534 South New Hope Road, Gastonia, NC 28054
    County: Gaston
    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: $99.7 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, 2008)

  • Dollar figures in thousands
  • 18Total employees (full-time equivalent)
  • $104,090Total assets
  • $3,004Cash and due from depository institutions
  • $2,583Interest-bearing balances
  • $18,168Securities
  • $30Federal funds sold & reverse repurchase agreements
  • $77,031Net loans & leases
  • $1,242Loan loss allowance
  • $0Trading account assets
  • $3,667Bank premises and fixed assets
  • $950Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $1,240All other assets
  • $104,090Total liabilities and capital
  • $94,034Total liabilities
  • $83,771Total deposits
  • $79,977Interest-bearing deposits
  • $83,771Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $1,227Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $8,550Other borrowed funds
  • $0Subordinated debt
  • $486All other liabilities
  • $10,056Total equity capital
  • $10,056Total bank equity capital
  • $10,056Perpetual preferred stock
  • $0Common stock
  • $6,184Surplus
  • $6,909Undivided profits
  • Memoranda
  • $-3,037Noncurrent loans and leases
  • $5,854Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $1,583Earning assets
  • $0Long-term assets (5+ years)
  • $390Average Assets, year-to-date
  • $97,812Average Assets, quarterly
  • $17,181Volatile liabilities
  • $95,044Insider loans
  • $103,302FHLB advances
  • $16,640Loans and leases held for sale
  • $1,539Unused loan commitments
  • $8,550Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $5,854Total unused commitments
  • $0Restructured Loans and leases
  • $1,018Derivatives

Income and Expense (December 31, 2008)

  • Dollar figures in thousands
  • $5,545Total interest income
  • $3,003Total interest expense
  • $2,542Net interest income
  • $455Provision for loan and lease losses
  • $161Total noninterest income
  • $0Fiduciary activities
  • $59Service charges on deposit accounts
  • $0Trading account gains & fees
  • $102Additional noninterest income
  • $3,235Total noninterest expense
  • $1,614Salaries and employee benefits
  • $330Premises and equipment expense
  • $1,291Additional noninterest expense
  • -$987Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • -$987Income before extraordinary items
  • $0Extraordinary gains - net
  • -$987Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $800Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2008)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.39%Yield on earning assets
  • 3.46%Cost of funding earning assets
  • 2.93%Net interest margin
  • 0.19%Noninterest income to earning assets
  • 3.73%Noninterest expense to earning assets
  • -1.04%Net operating income to assets
  • -1.04%Return on assets (ROA)
  • -1.04%Pretax return on assets
  • -9.20%Return on equity (ROE)
  • -9.20%Retained earnings to average equity (YTD only)
  • 1.08%Net charge-offs to loans
  • 56.88%Credit loss provision to net charge-offs
  • -0.67%Efficiency ratio
  • 119,682Assets per employee
  • 5.78%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.59%Loss allowance to noncurrent loans
  • 78.46%Noncurrent assets plus other real estate owned to assets
  • 2.43%Noncurrent loans to loans
  • 2.02%Net loans and leases to deposits
  • 91.95%Net loans and leases to core deposits
  • 112.69%Equity capital to assets
  • 9.66%Core capital (leverage) ratio
  • 9.50%Tier 1 risk-based capital ratio
  • 12.13%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $95,044Average earning assets
  • $10,733Average equity
  • $86,800Average loans

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