East Coast Savings Bank, SSB in Goldsboro, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 07, 1993

East Coast Savings Bank, SSB in Goldsboro, North Carolina (NC)
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East Coast Savings Bank, SSB - Overview

General
FDIC Certificate #: 28438
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Southern National Bank of North Carolina (#4899)
Federal Reserve ID: 530972
Date Established: January 01, 1919
Bank Charter Class: Savings banks, state charter, supervised by the FDIC
Offices: 10 (Interstate: No)
OTS Docket #: 1591
FDIC's unique #: 41272
Numeric code: 42
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: May 29, 1952
Last Structure Change Effective Date: October 07, 1993
Last Structure Change Process Date: October 19, 1993
Last Data Update: October 19, 1993
Data Source Date: April 05, 2012
Location
Address: 201 North Spence Avenue, Goldsboro, NC 27534
County: Wayne
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Raleigh
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Goldsboro, NC (#2980)
Core Based Statistical Area (CBSA): Goldsboro, NC (#24140)
CBSA Metro Statistical Area: Goldsboro, NC (#24140)
Financial Summary
Total assets: $269.8 mil

Assets and Liabilities (December 31, 1992)

Dollar figures in thousands
0Total employees (full-time equivalent)
$115Total assets
$258,551Cash and due from depository institutions
$8,157Interest-bearing balances
$3,062Securities
$18,665Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$222,370Loan loss allowance
$865Trading account assets
$0Bank premises and fixed assets
$4,259Other real estate owned
$34Goodwill and other intangibles
$4,999Life insurance assets
$67All other assets
$0Total liabilities and capital
$258,551Total liabilities
$237,135Total deposits
$223,340Interest-bearing deposits
$215,378Deposits held in domestic offices
223340.00%% insured (estimated)
$95Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$11,350Subordinated debt
$0All other liabilities
$2,445Total equity capital
$2,445Total bank equity capital
$21,416Perpetual preferred stock
$0Common stock
$0Surplus
$0Undivided profits
Memoranda
$21,416Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$3,132Income earned, not collected on loans
$1,593Earning assets
$244,097Long-term assets (5+ years)
$0Average Assets, year-to-date
$256,621Average Assets, quarterly
$257,661Volatile liabilities
$32,131Insider loans
$0FHLB advances
$11,350Loans and leases held for sale
$0Unused loan commitments
$16,125Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$21,416Total risk weighted assets
$168,149Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1992)

Dollar figures in thousands
$0Total interest income
$21,437Total interest expense
$11,281Net interest income
$10,156Provision for loan and lease losses
$264Total noninterest income
$2,087Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$0Additional noninterest income
$2,087Total noninterest expense
$6,406Salaries and employee benefits
$3,739Premises and equipment expense
$1,301Additional noninterest expense
$1,366Pre-tax net operating income
$5,573Securities gains (losses)
$67Applicable income taxes
$2,050Income before extraordinary items
$3,590Extraordinary gains - net
$0Net income attributable to bank
$3,590Net charge-offs
$47Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1992)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.86%Cost of funding earning assets
4.66%Net interest margin
4.20%Noninterest income to earning assets
0.86%Noninterest expense to earning assets
2.65%Net operating income to assets
1.38%Return on assets (ROA)
1.40%Pretax return on assets
2.20%Return on equity (ROE)
18.34%Retained earnings to average equity (YTD only)
18.34%Net charge-offs to loans
0.02%Credit loss provision to net charge-offs
561.70%Efficiency ratio
52,324Assets per employee
2.25%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.39%Loss allowance to noncurrent loans
27.62%Noncurrent assets plus other real estate owned to assets
1.22%Noncurrent loans to loans
1.40%Net loans and leases to deposits
99.57%Net loans and leases to core deposits
109.78%Equity capital to assets
8.28%Core capital (leverage) ratio
8.28%Tier 1 risk-based capital ratio
12.74%Total risk-based capital ratio
Memoranda
$13Average assets
$256,621Average earning assets
$19,570Average equity
$242,051Average loans

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