FDIC Certificate #: 34601 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Heritage Bank of the South (#50028) Federal Reserve ID: 2621306 Date Established: September 08, 1998 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 4 (Interstate: No) FDIC's unique #: 60766 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: September 08, 1998 Last Structure Change Effective Date: Febuary 18, 2011 Last Structure Change Process Date: Febuary 22, 2011 Last Data Update: Febuary 22, 2011 Data Source Date: April 05, 2012
Location
Address: 802 South Laurel Street, Springfield, GA 31329 County: Effingham Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Savannah Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast Metropolitan Statistical Area (MSA): Savannah, GA (#7520) Combined Statistical Area (CSA): Savannah-Hinesville-Fort Stewart, GA (#496) Core Based Statistical Area (CBSA): Savannah, GA (#42340) CBSA Metro Statistical Area: Savannah, GA (#42340)
Financial Summary
Total assets: $214.3 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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
42Total employees (full-time equivalent)
$214,275Total assets
$23,807Cash and due from depository institutions
$13,376Interest-bearing balances
$9,871Securities
$11,525Federal funds sold & reverse repurchase agreements
$139,790Net loans & leases
$4,990Loan loss allowance
$0Trading account assets
$6,342Bank premises and fixed assets
$18,091Other real estate owned
$0Goodwill and other intangibles
$2,620Life insurance assets
$4,849All other assets
$214,276Total liabilities and capital
$212,085Total liabilities
$206,490Total deposits
$192,486Interest-bearing deposits
$206,490Deposits held in domestic offices
95.73%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$5,000Other borrowed funds
$0Subordinated debt
$595All other liabilities
$2,191Total equity capital
$2,191Total bank equity capital
$2,191Perpetual preferred stock
$0Common stock
$500Surplus
$14,500Undivided profits
Memoranda
$-12,809Noncurrent loans and leases
$7,840Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$19,416Earning assets
$0Long-term assets (5+ years)
$1,005Average Assets, year-to-date
$174,562Average Assets, quarterly
$6,590Volatile liabilities
$230,105Insider loans
$215,909FHLB advances
$66,011Loans and leases held for sale
$7,015Unused loan commitments
$5,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$7,840Total unused commitments
$11Restructured Loans and leases
$2,113Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$8,848Total interest income
$4,218Total interest expense
$4,630Net interest income
$9,567Provision for loan and lease losses
$198Total noninterest income
$0Fiduciary activities
$473Service charges on deposit accounts
$0Trading account gains & fees
-$275Additional noninterest income
$5,659Total noninterest expense
$2,006Salaries and employee benefits
$661Premises and equipment expense
$2,992Additional noninterest expense
-$10,398Pre-tax net operating income
$0Securities gains (losses)
-$250Applicable income taxes
-$10,148Income before extraordinary items
$0Extraordinary gains - net
-$10,148Net income attributable to bank
$0Net charge-offs
-$10,148Cash dividends
$9,640Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.43%Yield on earning assets
2.11%Cost of funding earning assets
2.32%Net interest margin
0.10%Noninterest income to earning assets
2.83%Noninterest expense to earning assets
-4.41%Net operating income to assets
-4.41%Return on assets (ROA)
-4.52%Pretax return on assets
-130.18%Return on equity (ROE)
-130.18%Retained earnings to average equity (YTD only)
5.66%Net charge-offs to loans
99.24%Credit loss provision to net charge-offs
-0.09%Efficiency ratio
117,212Assets per employee
5.10%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
3.45%Loss allowance to noncurrent loans
25.70%Noncurrent assets plus other real estate owned to assets
17.50%Noncurrent loans to loans
13.41%Net loans and leases to deposits
67.70%Net loans and leases to core deposits
99.51%Equity capital to assets
1.02%Core capital (leverage) ratio
0.97%Tier 1 risk-based capital ratio
1.27%Total risk-based capital ratio
Memoranda
$3Average assets
$230,105Average earning assets
$7,795Average equity
$199,875Average loans
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