FDIC Certificate #: 18869 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Bank of North Georgia (#31203) Federal Reserve ID: 304034 Date Established: August 28, 1963 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 8 (Interstate: No) FDIC's unique #: 12722 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: August 28, 1963 Last Structure Change Effective Date: September 08, 2007 Last Structure Change Process Date: September 28, 2007 Last Data Update: September 28, 2007 Data Source Date: April 05, 2012
Location
Address: 4182 Highway 278, N.E., Covington, GA 30015 County: Newton 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)
Financial Summary
Total assets: $486.3 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2006)
Dollar figures in thousands
122Total employees (full-time equivalent)
$489,651Total assets
$15,541Cash and due from depository institutions
$16Interest-bearing balances
$50,624Securities
$128Federal funds sold & reverse repurchase agreements
$335,673Net loans & leases
$5,109Loan loss allowance
$0Trading account assets
$15,663Bank premises and fixed assets
$5,338Other real estate owned
$62,405Goodwill and other intangibles
$0Life insurance assets
$4,279All other assets
$489,651Total liabilities and capital
$391,378Total liabilities
$385,174Total deposits
$361,274Interest-bearing deposits
$385,174Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$6,204All other liabilities
$98,273Total equity capital
$98,273Total bank equity capital
$98,273Perpetual preferred stock
$0Common stock
$730Surplus
$96,399Undivided profits
Memoranda
$1,144Noncurrent loans and leases
$101,575Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$601Earning assets
$0Long-term assets (5+ years)
$2,777Average Assets, year-to-date
$386,441Average Assets, quarterly
$21,673Volatile liabilities
$488,994Insider loans
$495,343FHLB advances
$66,302Loans and leases held for sale
$3,811Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$101,575Total unused commitments
$0Restructured Loans and leases
$4,683Derivatives
Income and Expense (December 31, 2006)
Dollar figures in thousands
$31,764Total interest income
$10,971Total interest expense
$20,793Net interest income
$1,635Provision for loan and lease losses
$5,309Total noninterest income
$0Fiduciary activities
$4,045Service charges on deposit accounts
$0Trading account gains & fees
$1,264Additional noninterest income
$13,564Total noninterest expense
$6,727Salaries and employee benefits
$1,360Premises and equipment expense
$5,477Additional noninterest expense
$10,903Pre-tax net operating income
$0Securities gains (losses)
$3,962Applicable income taxes
$6,941Income before extraordinary items
$0Extraordinary gains - net
$6,941Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$1,491Sale, conversion, retirement of capital stock, net
$8,179Net operating income
Performance and Condition Ratios (December 31, 2006)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.15%Yield on earning assets
2.81%Cost of funding earning assets
5.33%Net interest margin
1.36%Noninterest income to earning assets
3.48%Noninterest expense to earning assets
1.42%Net operating income to assets
1.42%Return on assets (ROA)
2.23%Pretax return on assets
7.03%Return on equity (ROE)
-1.25%Retained earnings to average equity (YTD only)
0.42%Net charge-offs to loans
109.66%Credit loss provision to net charge-offs
8.41%Efficiency ratio
49,195Assets per employee
4.01%Cash dividends to net income (YTD only)
Condition Ratios (%)
117.84%Loss allowance to loans
1.50%Loss allowance to noncurrent loans
850.08%Noncurrent assets plus other real estate owned to assets
1.21%Noncurrent loans to loans
0.18%Net loans and leases to deposits
87.15%Net loans and leases to core deposits
105.27%Equity capital to assets
20.07%Core capital (leverage) ratio
8.70%Tier 1 risk-based capital ratio
10.08%Total risk-based capital ratio
Memoranda
$11Average assets
$488,994Average earning assets
$98,687Average equity
$389,833Average loans
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