First National South in Marion, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of November 20, 1998

First National South in Marion, South Carolina (SC)
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First National South - Overview

General
FDIC Certificate #: 2108
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: The Anchor Bank (#21758)
Federal Reserve ID: 881629
Date Established: September 22, 1911
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 7 (Interstate: No)
OTS Docket #: 10829
FDIC's unique #: 1388
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: January 01, 1934
Last Structure Change Effective Date: November 20, 1998
Last Structure Change Process Date: December 03, 1998
Last Data Update: December 03, 1998
Data Source Date: April 05, 2012
Location
Address: 307 North Main Street, Marion, SC 29571
County: Marion
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
Financial Summary
Total assets: $160.2 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
92Total employees (full-time equivalent)
$156,165Total assets
$9,677Cash and due from depository institutions
$1,820Interest-bearing balances
$34,579Securities
$0Federal funds sold & reverse repurchase agreements
$104,405Net loans & leases
$927Loan loss allowance
$0Trading account assets
$4,355Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$3,149All other assets
$156,165Total liabilities and capital
$144,792Total liabilities
$130,631Total deposits
$111,705Interest-bearing deposits
$130,631Deposits held in domestic offices
0.00%% insured (estimated)
$1,072Federal funds purchased & repurchase agreements
$0Trading liabilities
$11,424Other borrowed funds
$0Subordinated debt
$1,665All other liabilities
$11,373Total equity capital
$11,373Total bank equity capital
$11,373Perpetual preferred stock
$0Common stock
$600Surplus
$3,176Undivided profits
Memoranda
$7,597Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$473Earning assets
$0Long-term assets (5+ years)
$801Average Assets, year-to-date
$140,804Average Assets, quarterly
$26,274Volatile liabilities
$146,814Insider loans
$155,147FHLB advances
$24,040Loans and leases held for sale
$879Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$18,033Total unused commitments
$0Restructured Loans and leases
$116,060Derivatives

Income and Expense (December 31, 1997)

Dollar figures in thousands
$11,685Total interest income
$5,418Total interest expense
$6,267Net interest income
$800Provision for loan and lease losses
$1,501Total noninterest income
$0Fiduciary activities
$1,096Service charges on deposit accounts
$0Trading account gains & fees
$405Additional noninterest income
$5,618Total noninterest expense
$3,041Salaries and employee benefits
$834Premises and equipment expense
$1,743Additional noninterest expense
$1,350Pre-tax net operating income
$20Securities gains (losses)
$420Applicable income taxes
$950Income before extraordinary items
$0Extraordinary gains - net
$950Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$900Sale, conversion, retirement of capital stock, net
$117Net operating income

Performance and Condition Ratios (December 31, 1997)

Dollar figures in thousands
Performance Ratios (%, annualized)
8.81%Yield on earning assets
4.08%Cost of funding earning assets
4.72%Net interest margin
1.13%Noninterest income to earning assets
4.23%Noninterest expense to earning assets
0.64%Net operating income to assets
0.65%Return on assets (ROA)
0.93%Pretax return on assets
8.78%Return on equity (ROE)
7.70%Retained earnings to average equity (YTD only)
0.96%Net charge-offs to loans
88.89%Credit loss provision to net charge-offs
2.39%Efficiency ratio
72,322Assets per employee
1.70%Cash dividends to net income (YTD only)
Condition Ratios (%)
12.32%Loss allowance to loans
0.88%Loss allowance to noncurrent loans
195.98%Noncurrent assets plus other real estate owned to assets
0.30%Noncurrent loans to loans
0.45%Net loans and leases to deposits
79.92%Net loans and leases to core deposits
91.51%Equity capital to assets
7.28%Core capital (leverage) ratio
7.20%Tier 1 risk-based capital ratio
9.67%Total risk-based capital ratio
Memoranda
$10Average assets
$146,814Average earning assets
$10,818Average equity
$132,669Average loans

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