FDIC Certificate #: 57702 Status: Inactive Closing history: Corrections Acquiring institution:United Bank (#172) Federal Reserve ID: 3279450 Date Established: July 12, 2004 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 4 (Interstate: No) FDIC's unique #: 420282 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: July 12, 2004 Last Structure Change Effective Date: August 21, 2009 Last Structure Change Process Date: August 24, 2009 Last Data Update: August 24, 2009 Data Source Date: April 05, 2012
Location
Address: 61 Bullsboro Drive, Newnan, GA 30263 County: Coweta Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Atlanta Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast Metropolitan Statistical Area (MSA): Atlanta, GA (#520) Combined Statistical Area (CSA): Atlanta-Sandy Springs-Gainesville, GA-AL (#122) Core Based Statistical Area (CBSA): Atlanta-Sandy Springs-Marietta, GA (#12060) CBSA Metro Statistical Area: Atlanta-Sandy Springs-Marietta, GA (#12060)
History of Changes
Absorption - Assisted
Corrections
Financial Summary
Total assets: $163.8 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2008)
Dollar figures in thousands
43Total employees (full-time equivalent)
$166,123Total assets
$1,349Cash and due from depository institutions
$35Interest-bearing balances
$4,215Securities
$14,789Federal funds sold & reverse repurchase agreements
$125,558Net loans & leases
$4,290Loan loss allowance
$0Trading account assets
$6,737Bank premises and fixed assets
$6,726Other real estate owned
$0Goodwill and other intangibles
$3,721Life insurance assets
$6,749All other assets
$166,123Total liabilities and capital
$158,773Total liabilities
$153,169Total deposits
$148,175Interest-bearing deposits
$153,169Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$5,000Other borrowed funds
$0Subordinated debt
$604All other liabilities
$7,350Total equity capital
$7,350Total bank equity capital
$7,350Perpetual preferred stock
$0Common stock
$7,007Surplus
$7,549Undivided profits
Memoranda
$-7,206Noncurrent loans and leases
$7,820Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$15,332Earning assets
$0Long-term assets (5+ years)
$596Average Assets, year-to-date
$144,597Average Assets, quarterly
$3,364Volatile liabilities
$171,324Insider loans
$164,683FHLB advances
$36,494Loans and leases held for sale
$1,155Unused loan commitments
$5,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$7,820Total unused commitments
$478Restructured Loans and leases
$1,763Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$10,053Total interest income
$6,246Total interest expense
$3,807Net interest income
$6,707Provision for loan and lease losses
$338Total noninterest income
$0Fiduciary activities
$336Service charges on deposit accounts
$0Trading account gains & fees
$2Additional noninterest income
$5,838Total noninterest expense
$3,121Salaries and employee benefits
$666Premises and equipment expense
$2,051Additional noninterest expense
-$8,400Pre-tax net operating income
$1Securities gains (losses)
-$443Applicable income taxes
-$7,956Income before extraordinary items
$0Extraordinary gains - net
-$7,956Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$4,554Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.66%Yield on earning assets
4.14%Cost of funding earning assets
2.52%Net interest margin
0.22%Noninterest income to earning assets
3.87%Noninterest expense to earning assets
-4.64%Net operating income to assets
-4.64%Return on assets (ROA)
-4.90%Pretax return on assets
-61.34%Return on equity (ROE)
-61.34%Retained earnings to average equity (YTD only)
3.23%Net charge-offs to loans
147.28%Credit loss provision to net charge-offs
-0.37%Efficiency ratio
140,844Assets per employee
3.86%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
3.30%Loss allowance to noncurrent loans
27.98%Noncurrent assets plus other real estate owned to assets
13.28%Noncurrent loans to loans
11.81%Net loans and leases to deposits
81.97%Net loans and leases to core deposits
107.61%Equity capital to assets
4.42%Core capital (leverage) ratio
4.46%Tier 1 risk-based capital ratio
5.30%Total risk-based capital ratio
Memoranda
$7Average assets
$171,324Average earning assets
$12,970Average equity
$150,963Average loans
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