FDIC Certificate #: 28313 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Southern Bank and Trust Company (#15359) Federal Reserve ID: 249573 Date Established: January 01, 1912 Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 2 (Interstate: No) OTS Docket #: 1349 FDIC's unique #: 41147 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: January 12, 1954 Last Structure Change Effective Date: May 15, 1998 Last Structure Change Process Date: June 09, 1998 Last Data Update: June 09, 1998 Data Source Date: April 05, 2012
Location
Address: Dennis Street & Batchelor Avenue, Enfield, NC 27823 County: Halifax 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 Core Based Statistical Area (CBSA): Roanoke Rapids, NC (#40260) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $23.1 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Assets and Liabilities (December 31, 1997)
Dollar figures in thousands
6Total employees (full-time equivalent)
$29,452Total assets
$8,767Cash and due from depository institutions
$8,640Interest-bearing balances
$3,401Securities
$0Federal funds sold & reverse repurchase agreements
$16,929Net loans & leases
$133Loan loss allowance
$0Trading account assets
$140Bank premises and fixed assets
$33Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$182All other assets
$29,452Total liabilities and capital
$24,145Total liabilities
$23,706Total deposits
$23,695Interest-bearing deposits
$23,706Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$439All other liabilities
$5,307Total equity capital
$5,307Total bank equity capital
$5,307Perpetual preferred stock
$0Common stock
$0Surplus
$1,764Undivided profits
Memoranda
$3,543Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$229Earning assets
$0Long-term assets (5+ years)
$20Average Assets, year-to-date
$28,970Average Assets, quarterly
$731Volatile liabilities
$27,628Insider loans
$28,729FHLB advances
$7,728Loans and leases held for sale
$114Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$175Total unused commitments
$0Restructured Loans and leases
$15,036Derivatives
Income and Expense (December 31, 1997)
Dollar figures in thousands
$2,135Total interest income
$1,061Total interest expense
$1,074Net interest income
-$67Provision for loan and lease losses
$15Total noninterest income
$0Fiduciary activities
$1Service charges on deposit accounts
$0Trading account gains & fees
$14Additional noninterest income
$590Total noninterest expense
$341Salaries and employee benefits
$40Premises and equipment expense
$209Additional noninterest expense
$566Pre-tax net operating income
$0Securities gains (losses)
$192Applicable income taxes
$374Income before extraordinary items
$0Extraordinary gains - net
$374Net income attributable to bank
$0Net charge-offs
$0Cash dividends
-$24Sale, conversion, retirement of capital stock, net
$120Net operating income
Performance and Condition Ratios (December 31, 1997)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.88%Yield on earning assets
3.92%Cost of funding earning assets
3.96%Net interest margin
0.06%Noninterest income to earning assets
2.18%Noninterest expense to earning assets
1.35%Net operating income to assets
1.35%Return on assets (ROA)
2.05%Pretax return on assets
7.40%Return on equity (ROE)
5.03%Retained earnings to average equity (YTD only)
-0.14%Net charge-offs to loans
279.17%Credit loss provision to net charge-offs
0.00%Efficiency ratio
54,178Assets per employee
4.91%Cash dividends to net income (YTD only)
Condition Ratios (%)
32.09%Loss allowance to loans
0.78%Loss allowance to noncurrent loans
58.08%Noncurrent assets plus other real estate owned to assets
0.89%Noncurrent loans to loans
1.34%Net loans and leases to deposits
71.41%Net loans and leases to core deposits
105.95%Equity capital to assets
18.02%Core capital (leverage) ratio
17.28%Tier 1 risk-based capital ratio
33.67%Total risk-based capital ratio
Memoranda
$35Average assets
$27,628Average earning assets
$5,052Average equity
$27,095Average loans
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