First Piedmont Federal Savings and Loan Association of Gaffney in Gaffney, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • First Piedmont Federal Savings and Loan Association of Gaffney in Gaffney, South Carolina (SC)
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First Piedmont Federal Savings and Loan Association of Gaffney - Overview

  • General
  • FDIC Certificate #: 28859
    Status: Active
    Federal Reserve ID: 646172
    Date Established: January 01, 1933
    WWW: http://www.firstpiedmont.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 6 (Domestic: 6, Interstate: No)
    OTS Docket #: 2502
    FDIC's unique #: 41693
    Numeric code: 38
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: November 05, 1934
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 1229 West Floyd Baker Boulevard, 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
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $289.2 mil
    Equity capital: $77.9 mil
    Deposits held in domestic offices: $209.6 mil
    Return on assets (ROA): 1.35% ($3.9 mil)
    Quarterly return on assets: 1.23% ($3.6 mil)
    Return on Equity (ROE): 5.07% ($4.0 mil)
    Quarterly return on equity: 4.58% ($3.6 mil)
    Net income: $3.9 mil
    Quarterly Net income: $0.9 mil
    Pretax return on assets: 2.21% ($6,391.9 mil)
    Quarterly Pretax return on assets: 2.12% ($6,131.6 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, 2011)

  • Dollar figures in thousands
  • 71Total employees (full-time equivalent)
  • $289,226Total assets
  • $71,508Cash and due from depository institutions
  • $71,253Interest-bearing balances
  • $5Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $193,812Net loans & leases
  • $1,957Loan loss allowance
  • $8Trading account assets
  • $5,438Bank premises and fixed assets
  • $16,082Other real estate owned
  • $166Goodwill and other intangibles
  • $289,226Life insurance assets
  • $2,207All other assets
  • $211,317Total liabilities and capital
  • $209,553Total liabilities
  • $171,440Total deposits
  • $209,553Interest-bearing deposits
  • $88Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $1,764Subordinated debt
  • $77,909All other liabilities
  • $77,909Total equity capital
  • $77,909Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $77,909Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $575Income earned, not collected on loans
  • $0Earning assets
  • $660Long-term assets (5+ years)
  • $265,078Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $284,958Volatile liabilities
  • $288,959Insider loans
  • $198,405FHLB advances
  • $277,739Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $66,422Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $42,948Restructured Loans and leases
  • $678Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $12,987Total interest income
  • $421Total interest expense
  • $12,566Net interest income
  • $679Provision for loan and lease losses
  • $3,047Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • -$4Trading account gains & fees
  • $3,051Additional noninterest income
  • $9,281Total noninterest expense
  • $5,405Salaries and employee benefits
  • $1,783Premises and equipment expense
  • $2,093Additional noninterest expense
  • $5,653Pre-tax net operating income
  • $651Securities gains (losses)
  • $2,448Applicable income taxes
  • $3,856Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,856Net income attributable to bank
  • $0Net charge-offs
  • $3,856Cash dividends
  • -$40Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.98%Yield on earning assets
  • 0.16%Cost of funding earning assets
  • 4.82%Net interest margin
  • 1.17%Noninterest income to earning assets
  • 3.56%Noninterest expense to earning assets
  • 1.21%Net operating income to assets
  • 1.35%Return on assets (ROA)
  • 2.21%Pretax return on assets
  • 5.07%Return on equity (ROE)
  • 5.07%Retained earnings to average equity (YTD only)
  • -0.02%Net charge-offs to loans
  • -1697.50%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 59,444Assets per employee
  • 4.07%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.00%Loss allowance to noncurrent loans
  • 340.35%Noncurrent assets plus other real estate owned to assets
  • 1.75%Noncurrent loans to loans
  • 0.29%Net loans and leases to deposits
  • 92.49%Net loans and leases to core deposits
  • 97.78%Equity capital to assets
  • 26.94%Core capital (leverage) ratio
  • 23.92%Tier 1 risk-based capital ratio
  • 33.48%Total risk-based capital ratio
  • Memoranda
  • $34Average assets
  • $284,958Average earning assets
  • $76,015Average equity
  • $260,801Average loans

List of branches

  • 6 South Carolina Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    041693First Piedmont Federal Savings And L1229 West Floyd Baker Boulevard, Gaffney, SC 29340January 01, 1933Full Service Brick and Mortar
    1271075210 S Limestone St Branch210 S Limestone St, Gaffney, SC 29340January 01, 1933Full Service Brick and Mortar
    1002710761510 John B White Blvd1510 John B White Blvd., Spartanburg, SC 29301January 01, 1933Full Service Brick and Mortar
    101271077503 N Granard St Branch503 N Granard St, Gaffney, SC 29340January 01, 1933Full Service Brick and Mortar
    102271078901 E Main St Branch901 E Main St, Spartanburg, SC 29304June 30, 1985Full Service Brick and Mortar
    104461416Boiling Springs Branch2101 Boiling Springs Rd, Boiling Springs, SC 29316June 30, 2006Full Service Brick and Mortar

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