FDIC Certificate #: 28172 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Citizens South Bank (#28833) Federal Reserve ID: 676777 Date Established: January 01, 1907 Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 3 (Interstate: No) OTS Docket #: 15554 FDIC's unique #: 41006 Numeric code: 41 Regulator: FDIC Insurance Fund Membership: Savings Association Insurance Fund (SAIF) FDIC Insured: Yes SAIF Insured: Yes Insured Savings Institution: Yes State Chartered: Yes Date of Deposit Insurance: March 07, 1936 Last Structure Change Effective Date: December 31, 2001 Last Structure Change Process Date: January 18, 2002 Last Data Update: January 18, 2002 Data Source Date: April 05, 2012
Location
Address: 401 West Innes Street, Salisbury, NC 28144 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: $218.3 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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
40Total employees (full-time equivalent)
$210,144Total assets
$4,016Cash and due from depository institutions
$2,027Interest-bearing balances
$3,671Securities
$3,865Federal funds sold & reverse repurchase agreements
$188,625Net loans & leases
$1,224Loan loss allowance
$0Trading account assets
$2,317Bank premises and fixed assets
$151Other real estate owned
$75Goodwill and other intangibles
$0Life insurance assets
$7,424All other assets
$210,144Total liabilities and capital
$185,671Total liabilities
$165,615Total deposits
$164,618Interest-bearing deposits
$165,615Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$15,000Other borrowed funds
$0Subordinated debt
$5,056All other liabilities
$24,473Total equity capital
$24,473Total bank equity capital
$24,473Perpetual preferred stock
$0Common stock
$1Surplus
$6,340Undivided profits
Memoranda
$18,132Noncurrent loans and leases
$25,404Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,951Earning assets
$0Long-term assets (5+ years)
$949Average Assets, year-to-date
$198,188Average Assets, quarterly
$0Volatile liabilities
$202,945Insider loans
$209,980FHLB advances
$39,801Loans and leases held for sale
$0Unused loan commitments
$15,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$25,404Total unused commitments
$48Restructured Loans and leases
$1,224Derivatives
Income and Expense (December 31, 2000)
Dollar figures in thousands
$15,024Total interest income
$9,149Total interest expense
$5,875Net interest income
$0Provision for loan and lease losses
$359Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$359Additional noninterest income
$4,467Total noninterest expense
$2,648Salaries and employee benefits
$801Premises and equipment expense
$1,018Additional noninterest expense
$1,767Pre-tax net operating income
$22Securities gains (losses)
$679Applicable income taxes
$1,110Income before extraordinary items
$0Extraordinary gains - net
$1,110Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$0Sale, conversion, retirement of capital stock, net
$308Net operating income
Performance and Condition Ratios (December 31, 2000)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.88%Yield on earning assets
4.80%Cost of funding earning assets
3.08%Net interest margin
0.19%Noninterest income to earning assets
2.34%Noninterest expense to earning assets
0.54%Net operating income to assets
0.55%Return on assets (ROA)
0.88%Pretax return on assets
4.36%Return on equity (ROE)
3.15%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
71,655Assets per employee
5.25%Cash dividends to net income (YTD only)
Condition Ratios (%)
27.75%Loss allowance to loans
0.64%Loss allowance to noncurrent loans
62.74%Noncurrent assets plus other real estate owned to assets
1.00%Noncurrent loans to loans
1.03%Net loans and leases to deposits
113.89%Net loans and leases to core deposits
133.95%Equity capital to assets
11.65%Core capital (leverage) ratio
11.63%Tier 1 risk-based capital ratio
18.49%Total risk-based capital ratio
Memoranda
$19Average assets
$202,945Average earning assets
$25,468Average equity
$190,734Average loans
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