FDIC Certificate #: 34335 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:CresCom Bank (#57135) Federal Reserve ID: 2507802 Date Established: April 25, 1997 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 6 (Interstate: No) FDIC's unique #: 57094 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: April 25, 1997 Last Structure Change Effective Date: August 01, 2011 Last Structure Change Process Date: August 08, 2011 Last Data Update: August 08, 2011 Data Source Date: April 05, 2012
Location
Address: 288 Meeting Street, Charleston, SC 29401 County: Charleston Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Columbia Sc Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Southeast Metropolitan Statistical Area (MSA): Charleston-North Charleston, SC (#1440) Core Based Statistical Area (CBSA): Charleston-North Charleston-Summerville, SC (#16700) CBSA Metro Statistical Area: Charleston-North Charleston-Summerville, SC (#16700)
Financial Summary
Total assets: $506.6 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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
163Total employees (full-time equivalent)
$563,201Total assets
$6,551Cash and due from depository institutions
$3,161Interest-bearing balances
$100,537Securities
$0Federal funds sold & reverse repurchase agreements
$408,225Net loans & leases
$7,995Loan loss allowance
$0Trading account assets
$10,437Bank premises and fixed assets
$5,692Other real estate owned
$5,249Goodwill and other intangibles
$732Life insurance assets
$26,510All other assets
$563,201Total liabilities and capital
$521,767Total liabilities
$397,854Total deposits
$361,467Interest-bearing deposits
$397,854Deposits held in domestic offices
93.48%% insured (estimated)
$1Federal funds purchased & repurchase agreements
$0Trading liabilities
$109,759Other borrowed funds
$5,000Subordinated debt
$9,153All other liabilities
$41,434Total equity capital
$41,434Total bank equity capital
$41,434Perpetual preferred stock
$0Common stock
$6Surplus
$22,026Undivided profits
Memoranda
$19,402Noncurrent loans and leases
$22,959Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$36,222Earning assets
$0Long-term assets (5+ years)
$2,042Average Assets, year-to-date
$511,923Average Assets, quarterly
$151,406Volatile liabilities
$584,898Insider loans
$573,241FHLB advances
$69,166Loans and leases held for sale
$12,193Unused loan commitments
$95,500Tier 1 (core) risk-based capital
$372,114Tier 2 risk-based capital
$80,421Total risk weighted assets
$22,959Total unused commitments
$5,421Restructured Loans and leases
$10,287Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$26,932Total interest income
$9,041Total interest expense
$17,891Net interest income
$10,230Provision for loan and lease losses
$26,359Total noninterest income
$0Fiduciary activities
$1,209Service charges on deposit accounts
$0Trading account gains & fees
$25,150Additional noninterest income
$30,190Total noninterest expense
$13,108Salaries and employee benefits
$1,686Premises and equipment expense
$15,396Additional noninterest expense
$3,830Pre-tax net operating income
-$4,455Securities gains (losses)
$168Applicable income taxes
-$793Income before extraordinary items
$0Extraordinary gains - net
-$793Net income attributable to bank
$0Net charge-offs
-$793Cash dividends
$8,552Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.01%Yield on earning assets
1.68%Cost of funding earning assets
3.33%Net interest margin
4.90%Noninterest income to earning assets
5.62%Noninterest expense to earning assets
0.63%Net operating income to assets
-0.14%Return on assets (ROA)
-0.11%Pretax return on assets
-1.91%Return on equity (ROE)
-1.91%Retained earnings to average equity (YTD only)
2.12%Net charge-offs to loans
119.62%Credit loss provision to net charge-offs
1.64%Efficiency ratio
68,226Assets per employee
3.46%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.92%Loss allowance to noncurrent loans
22.07%Noncurrent assets plus other real estate owned to assets
7.44%Noncurrent loans to loans
8.70%Net loans and leases to deposits
102.61%Net loans and leases to core deposits
107.95%Equity capital to assets
7.36%Core capital (leverage) ratio
7.63%Tier 1 risk-based capital ratio
10.56%Total risk-based capital ratio
Memoranda
$13Average assets
$584,898Average earning assets
$41,495Average equity
$537,646Average loans
Comment about this bank, ask questions, or add new information about it:
This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Community FirstBank of Charleston.
Based on public records. Inadvertent errors are possible. bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.
Comment about this bank, ask questions, or add new information about it: