First National Bank of the Carolinas in city_name, state_name

First National Bank of the Carolinas in Gaffney, South Carolina (SC)
Show street view No street view available for this location

First National Bank of the Carolinas - Overview

General
FDIC Certificate #: 34237
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: American Community Bank (#34868)
Federal Reserve ID: 2481180
Date Established: October 18, 1996
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 3 (Interstate: No)
OTS Docket #: 15393
FDIC's unique #: 56996
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: No
Date of Deposit Insurance: October 18, 1996
Last Structure Change Effective Date: April 01, 2005
Last Structure Change Process Date: May 03, 2005
Last Data Update: May 03, 2005
Data Source Date: April 05, 2012
Location
Address: 217 North Granard Street, Gaffney, SC 29340
County: Cherokee
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Columbia Sc
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Greenville-Spartanburg-Anderson, SC (#3160)
Combined Statistical Area (CSA): Greenville-Spartanburg-Anderson, SC (#273)
Core Based Statistical Area (CBSA): Gaffney, SC (#23500)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $84.8 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, 2004)

Dollar figures in thousands
24Total employees (full-time equivalent)
$86,780Total assets
$3,189Cash and due from depository institutions
$1,243Interest-bearing balances
$6,127Securities
$4,310Federal funds sold & reverse repurchase agreements
$58,004Net loans & leases
$742Loan loss allowance
$0Trading account assets
$3,642Bank premises and fixed assets
$56Other real estate owned
$10,617Goodwill and other intangibles
$0Life insurance assets
$835All other assets
$86,780Total liabilities and capital
$68,461Total liabilities
$59,058Total deposits
$50,526Interest-bearing deposits
$59,058Deposits held in domestic offices
0.00%% insured (estimated)
$3,376Federal funds purchased & repurchase agreements
$0Trading liabilities
$2,000Other borrowed funds
$0Subordinated debt
$4,027All other liabilities
$18,319Total equity capital
$18,319Total bank equity capital
$18,319Perpetual preferred stock
$0Common stock
$2,250Surplus
$14,046Undivided profits
Memoranda
$2,023Noncurrent loans and leases
$7,581Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$355Earning assets
$0Long-term assets (5+ years)
$314Average Assets, year-to-date
$69,684Average Assets, quarterly
$10,390Volatile liabilities
$79,922Insider loans
$84,224FHLB advances
$9,906Loans and leases held for sale
$0Unused loan commitments
$2,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$7,581Total unused commitments
$0Restructured Loans and leases
$742Derivatives

Income and Expense (December 31, 2004)

Dollar figures in thousands
$4,008Total interest income
$826Total interest expense
$3,182Net interest income
$112Provision for loan and lease losses
$753Total noninterest income
$0Fiduciary activities
$483Service charges on deposit accounts
$0Trading account gains & fees
$270Additional noninterest income
$2,441Total noninterest expense
$1,140Salaries and employee benefits
$401Premises and equipment expense
$900Additional noninterest expense
$1,382Pre-tax net operating income
$0Securities gains (losses)
$407Applicable income taxes
$975Income before extraordinary items
-$398Extraordinary gains - net
$577Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$42Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 2004)

Dollar figures in thousands
Performance Ratios (%, annualized)
5.97%Yield on earning assets
1.23%Cost of funding earning assets
4.74%Net interest margin
1.12%Noninterest income to earning assets
3.64%Noninterest expense to earning assets
1.22%Net operating income to assets
0.72%Return on assets (ROA)
1.23%Pretax return on assets
4.22%Return on equity (ROE)
4.22%Retained earnings to average equity (YTD only)
0.07%Net charge-offs to loans
266.67%Credit loss provision to net charge-offs
35.57%Efficiency ratio
60,102Assets per employee
3.62%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.26%Loss allowance to noncurrent loans
209.01%Noncurrent assets plus other real estate owned to assets
0.47%Noncurrent loans to loans
0.60%Net loans and leases to deposits
98.22%Net loans and leases to core deposits
108.36%Equity capital to assets
21.11%Core capital (leverage) ratio
10.59%Tier 1 risk-based capital ratio
12.46%Total risk-based capital ratio
Memoranda
$14Average assets
$79,922Average earning assets
$13,680Average equity
$67,150Average loans

First National Bank of the Carolinas in Gaffney, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches

First National Bank of the Carolinas - Overview

Assets and Liabilities (December 31, 2004)

Income and Expense (December 31, 2004)

Performance and Condition Ratios (December 31, 2004)

Comment about this bank, ask questions, or add new information about it:

First National Bank of the Carolinas in Gaffney, South Carolina (SC)Overview, Financial Summary, Detailed Financial Reports, Branches

First National Bank of the Carolinas - Overview

Assets and Liabilities (December 31, 2004)

Income and Expense (December 31, 2004)

Performance and Condition Ratios (December 31, 2004)

Comment about this bank, ask questions, or add new information about it:

First National Bank of the Carolinas in Gaffney, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches