FDIC Certificate #: 58250 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:VantageSouth Bank (#58136) Federal Reserve ID: 3394018 Bank Holding Company (Regulatory Top Holder): Piedmont Community Bank Holdings, Inc. (RSSDID: 3954720, Location: Raleigh, NC) Date Established: Febuary 21, 2006 WWW:http://www.communitybankofrowan.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Domestic: 2, Interstate: No) FDIC's unique #: 444498 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: Yes Subchapter S Corporations: No Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: Febuary 21, 2006 Last Structure Change Effective Date: Febuary 01, 2012 Last Structure Change Process Date: Febuary 14, 2012 Last Data Update: Febuary 14, 2012 Data Source Date: April 05, 2012
Location
Address: 322 East 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: $144.5 mil Equity capital: $17.6 mil Deposits held in domestic offices: $122.3 mil Return on assets (ROA): 0.74% ($1.1 mil) Quarterly return on assets: 0.06% ($0.1 mil) Return on Equity (ROE): 7.30% ($1.3 mil) Quarterly return on equity: 0.48% ($0.1 mil) Net income: $1.0 mil Quarterly Net income: $0.0 mil Pretax return on assets: 1.20% ($1,734.5 mil) Quarterly Pretax return on assets: 0.10% ($144.5 mil)
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2011)
Dollar figures in thousands
23Total employees (full-time equivalent)
$144,544Total assets
$7,672Cash and due from depository institutions
$5,890Interest-bearing balances
$13,690Securities
$0Federal funds sold & reverse repurchase agreements
$108,440Net loans & leases
$468Loan loss allowance
$0Trading account assets
$2,661Bank premises and fixed assets
$1,957Other real estate owned
$3,414Goodwill and other intangibles
$144,544Life insurance assets
$6,710All other assets
$126,899Total liabilities and capital
$122,345Total liabilities
$109,367Total deposits
$122,345Interest-bearing deposits
$93Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$4,000Trading liabilities
$0Other borrowed funds
$554Subordinated debt
$17,645All other liabilities
$17,645Total equity capital
$17,645Total bank equity capital
$0Perpetual preferred stock
$6,924Common stock
$9,594Surplus
$1,127Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$2,076Income earned, not collected on loans
$13Earning assets
$513Long-term assets (5+ years)
$128,020Average Assets, year-to-date
$35,118Average Assets, quarterly
$142,407Volatile liabilities
$145,972Insider loans
$107,317FHLB advances
$139,245Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$13,530Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$12,736Restructured Loans and leases
$7,606Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$6,732Total interest income
$1,191Total interest expense
$5,541Net interest income
$1,137Provision for loan and lease losses
$1,071Total noninterest income
$0Fiduciary activities
$114Service charges on deposit accounts
$0Trading account gains & fees
$957Additional noninterest income
$3,760Total noninterest expense
$1,777Salaries and employee benefits
$301Premises and equipment expense
$1,682Additional noninterest expense
$1,715Pre-tax net operating income
$0Securities gains (losses)
$666Applicable income taxes
$1,049Income before extraordinary items
$0Extraordinary gains - net
$1,049Net income attributable to bank
$0Net charge-offs
$1,049Cash dividends
$2,400Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.20%Yield on earning assets
0.92%Cost of funding earning assets
4.28%Net interest margin
0.83%Noninterest income to earning assets
2.91%Noninterest expense to earning assets
0.74%Net operating income to assets
0.74%Return on assets (ROA)
1.20%Pretax return on assets
7.30%Return on equity (ROE)
7.30%Retained earnings to average equity (YTD only)
2.38%Net charge-offs to loans
47.38%Credit loss provision to net charge-offs
1.19%Efficiency ratio
56,866Assets per employee
6.28%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.43%Loss allowance to noncurrent loans
22.54%Noncurrent assets plus other real estate owned to assets
2.79%Noncurrent loans to loans
1.91%Net loans and leases to deposits
88.63%Net loans and leases to core deposits
108.81%Equity capital to assets
12.21%Core capital (leverage) ratio
9.72%Tier 1 risk-based capital ratio
12.61%Total risk-based capital ratio
Memoranda
$13Average assets
$142,407Average earning assets
$14,378Average equity
$129,429Average loans
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