First Savings Bank of Forest City, S.S.B. in Forest City, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 15, 1993

First Savings Bank of Forest City, S.S.B. in Forest City, North Carolina (NC)
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First Savings Bank of Forest City, S.S.B. - Overview

General
FDIC Certificate #: 28070
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: RBC Bank (USA) (#33184)
Federal Reserve ID: 927871
Date Established: January 01, 1905
Bank Charter Class: Savings banks, state charter, supervised by the FDIC
Offices: 1 (Interstate: No)
OTS Docket #: 839
FDIC's unique #: 40904
Numeric code: 42
Regulator: FDIC
Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
FDIC Insured: Yes
SAIF Insured: Yes
Insured Savings Institution: Yes
State Chartered: Yes
Date of Deposit Insurance: October 21, 1940
Last Structure Change Effective Date: October 15, 1993
Last Structure Change Process Date: November 22, 1993
Last Data Update: November 22, 1993
Data Source Date: April 05, 2012
Location
Address: 427 East Main Street, Forest City, NC 28043
County: Rutherford
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Charlotte
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Southeast
Core Based Statistical Area (CBSA): Forest City, NC (#22580)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $67.3 mil

Assets and Liabilities (December 31, 1992)

Dollar figures in thousands
0Total employees (full-time equivalent)
$8Total assets
$62,202Cash and due from depository institutions
$2,315Interest-bearing balances
$2,169Securities
$24,788Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$34,160Loan loss allowance
$8Trading account assets
$0Bank premises and fixed assets
$251Other real estate owned
$0Goodwill and other intangibles
$688Life insurance assets
$0All other assets
$0Total liabilities and capital
$62,202Total liabilities
$50,616Total deposits
$50,115Interest-bearing deposits
$50,115Deposits held in domestic offices
50115.00%% insured (estimated)
$98Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$501Total equity capital
$501Total bank equity capital
$11,586Perpetual preferred stock
$0Common stock
$0Surplus
$0Undivided profits
Memoranda
$11,586Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$72Income earned, not collected on loans
$38Earning assets
$61,117Long-term assets (5+ years)
$40,989Average Assets, year-to-date
$59,579Average Assets, quarterly
$61,711Volatile liabilities
$6,438Insider loans
$23FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$359Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$11,586Total risk weighted assets
$20,250Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1992)

Dollar figures in thousands
$0Total interest income
$5,126Total interest expense
$2,601Net interest income
$2,525Provision for loan and lease losses
$0Total noninterest income
$115Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$0Additional noninterest income
$115Total noninterest expense
$898Salaries and employee benefits
$262Premises and equipment expense
$37Additional noninterest expense
$600Pre-tax net operating income
$1,742Securities gains (losses)
$0Applicable income taxes
$616Income before extraordinary items
$1,126Extraordinary gains - net
$0Net income attributable to bank
$1,126Net charge-offs
$0Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1992)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.82%Cost of funding earning assets
4.48%Net interest margin
4.35%Noninterest income to earning assets
0.20%Noninterest expense to earning assets
1.55%Net operating income to assets
1.89%Return on assets (ROA)
1.89%Pretax return on assets
2.92%Return on equity (ROE)
10.20%Retained earnings to average equity (YTD only)
10.20%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
34,015Assets per employee
7.78%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.02%Loss allowance to noncurrent loans
11.11%Noncurrent assets plus other real estate owned to assets
0.12%Noncurrent loans to loans
0.21%Net loans and leases to deposits
68.16%Net loans and leases to core deposits
78.21%Equity capital to assets
18.63%Core capital (leverage) ratio
18.73%Tier 1 risk-based capital ratio
57.22%Total risk-based capital ratio
Memoranda
$57Average assets
$59,579Average earning assets
$11,044Average equity
$58,098Average loans

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