FDIC Certificate #: 28075 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:The First National Bank of Shelby (#4910) Federal Reserve ID: 838771 Date Established: January 01, 1907 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) OTS Docket #: 850 FDIC's unique #: 40909 Numeric code: 33 Regulator: OTS Insurance Fund Membership: Savings Association Insurance Fund (SAIF) FDIC Insured: Yes SAIF Insured: Yes Insured Savings Institution: Yes State Chartered: No Date of Deposit Insurance: Febuary 01, 1954 Last Structure Change Effective Date: April 02, 1999 Last Structure Change Process Date: April 13, 1999 Last Data Update: April 13, 1999 Data Source Date: April 05, 2012
Location
Address: 300 West Mountain Street, Kings Mountain, NC 28086 County: Cleveland 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 Combined Statistical Area (CSA): Charlotte-Gastonia-Salisbury, NC-SC (#172) Core Based Statistical Area (CBSA): Shelby, NC (#43140) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $95.9 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 1998)
Dollar figures in thousands
33Total employees (full-time equivalent)
$95,366Total assets
$10,411Cash and due from depository institutions
$9,703Interest-bearing balances
$12,472Securities
$0Federal funds sold & reverse repurchase agreements
$68,594Net loans & leases
$1,269Loan loss allowance
$0Trading account assets
$1,361Bank premises and fixed assets
$490Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$2,038All other assets
$95,366Total liabilities and capital
$87,854Total liabilities
$87,614Total deposits
$87,219Interest-bearing deposits
$87,614Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$240All other liabilities
$7,512Total equity capital
$7,512Total bank equity capital
$7,512Perpetual preferred stock
$0Common stock
$3Surplus
$1,089Undivided profits
Memoranda
$6,420Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$2,485Earning assets
$0Long-term assets (5+ years)
$388Average Assets, year-to-date
$90,769Average Assets, quarterly
$0Volatile liabilities
$97,069Insider loans
$95,078FHLB advances
$12,177Loans and leases held for sale
$186Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$5,090Total unused commitments
$0Restructured Loans and leases
$54,646Derivatives
Income and Expense (December 31, 1998)
Dollar figures in thousands
$7,072Total interest income
$4,525Total interest expense
$2,547Net interest income
$336Provision for loan and lease losses
$425Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$425Additional noninterest income
$2,311Total noninterest expense
$1,202Salaries and employee benefits
$393Premises and equipment expense
$716Additional noninterest expense
$325Pre-tax net operating income
$84Securities gains (losses)
$157Applicable income taxes
$252Income before extraordinary items
$0Extraordinary gains - net
$252Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$74Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 1998)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.65%Yield on earning assets
4.90%Cost of funding earning assets
2.76%Net interest margin
0.46%Noninterest income to earning assets
2.50%Noninterest expense to earning assets
0.20%Net operating income to assets
0.26%Return on assets (ROA)
0.42%Pretax return on assets
3.44%Return on equity (ROE)
3.44%Retained earnings to average equity (YTD only)
0.10%Net charge-offs to loans
454.05%Credit loss provision to net charge-offs
8.93%Efficiency ratio
77,759Assets per employee
2.89%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.82%Loss allowance to noncurrent loans
51.07%Noncurrent assets plus other real estate owned to assets
2.81%Noncurrent loans to loans
3.56%Net loans and leases to deposits
78.29%Net loans and leases to core deposits
90.93%Equity capital to assets
7.88%Core capital (leverage) ratio
7.31%Tier 1 risk-based capital ratio
12.68%Total risk-based capital ratio
Memoranda
$14Average assets
$97,069Average earning assets
$7,328Average equity
$92,423Average loans
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