First Union National Bank in Charlotte, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of Febuary 26, 1998

  • First Union National Bank in Charlotte, North Carolina (NC)
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First Union National Bank - Overview

  • General
  • FDIC Certificate #: 4885
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: Wachovia Bank, National Association (#33869)
    Federal Reserve ID: 484422
    Date Established: June 02, 1908
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 1660 (Interstate: No)
    OTS Docket #: 13593
    FDIC's unique #: 3249
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Oakar Institutions: Yes
    State Chartered: No
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: Febuary 26, 1998
    Last Structure Change Process Date: March 18, 1998
    Last Data Update: April 11, 1998
    Data Source Date: April 05, 2012
  • Location
  • Address: 2 First Union Center, Charlotte, NC 28288
    County: Mecklenburg
    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
    Metropolitan Statistical Area (MSA): Charlotte-Gastonia-Rock Hill, NC-SC (#1520)
    Combined Statistical Area (CSA): Charlotte-Gastonia-Salisbury, NC-SC (#172)
    Core Based Statistical Area (CBSA): Charlotte-Gastonia-Rock Hill, NC-SC (#16740)
    CBSA Metro Statistical Area: Charlotte-Gastonia-Rock Hill, NC-SC (#16740)
  • History of Changes
  • Merger - Without Assistance
    Corrections
  • Financial Summary
  • Total assets: $124,994.6 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1997)

  • Dollar figures in thousands
  • 34,123Total employees (full-time equivalent)
  • $124,994,624Total assets
  • $5,877,591Cash and due from depository institutions
  • $527,082Interest-bearing balances
  • $18,627,065Securities
  • $2,626,508Federal funds sold & reverse repurchase agreements
  • $82,310,541Net loans & leases
  • $1,005,217Loan loss allowance
  • $3,322,404Trading account assets
  • $2,167,626Bank premises and fixed assets
  • $70,835Other real estate owned
  • $2,539,719Goodwill and other intangibles
  • $0Life insurance assets
  • $7,452,335All other assets
  • $124,994,624Total liabilities and capital
  • $115,508,066Total liabilities
  • $90,817,593Total deposits
  • $75,121,023Interest-bearing deposits
  • $79,161,386Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $13,333,348Federal funds purchased & repurchase agreements
  • $3,030,911Trading liabilities
  • $2,735,614Other borrowed funds
  • $2,347,834Subordinated debt
  • $3,242,766All other liabilities
  • $9,486,558Total equity capital
  • $9,486,558Total bank equity capital
  • $9,486,558Perpetual preferred stock
  • $0Common stock
  • $82,795Surplus
  • $6,695,493Undivided profits
  • Memoranda
  • $2,708,270Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $845,035Earning assets
  • $43,378Long-term assets (5+ years)
  • $453,022Average Assets, year-to-date
  • $106,630,236Average Assets, quarterly
  • $35,261,242Volatile liabilities
  • $124,219,214Insider loans
  • $122,709,840FHLB advances
  • $36,676,573Loans and leases held for sale
  • $2,555,484Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $4,858,905Total risk weighted assets
  • $55,723,807Total unused commitments
  • $0Restructured Loans and leases
  • $101,772,887Derivatives
  • $3,116,776Total assets and liabilities in foreign offices

Income and Expense (December 31, 1997)

  • Dollar figures in thousands
  • $8,663,291Total interest income
  • $4,067,903Total interest expense
  • $4,595,388Net interest income
  • $835,653Provision for loan and lease losses
  • $2,713,382Total noninterest income
  • $417,120Fiduciary activities
  • $762,636Service charges on deposit accounts
  • $189,938Trading account gains & fees
  • $1,343,688Additional noninterest income
  • $4,530,817Total noninterest expense
  • $1,795,397Salaries and employee benefits
  • $715,660Premises and equipment expense
  • $2,019,760Additional noninterest expense
  • $1,942,300Pre-tax net operating income
  • $9,059Securities gains (losses)
  • $524,834Applicable income taxes
  • $1,426,525Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,426,525Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $569,371Sale, conversion, retirement of capital stock, net
  • $910,065Net operating income

Performance and Condition Ratios (December 31, 1997)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 8.06%Yield on earning assets
  • 3.79%Cost of funding earning assets
  • 4.28%Net interest margin
  • 2.53%Noninterest income to earning assets
  • 4.22%Noninterest expense to earning assets
  • 1.14%Net operating income to assets
  • 1.15%Return on assets (ROA)
  • 1.57%Pretax return on assets
  • 14.96%Return on equity (ROE)
  • 5.42%Retained earnings to average equity (YTD only)
  • 0.69%Net charge-offs to loans
  • 146.77%Credit loss provision to net charge-offs
  • 4.88%Efficiency ratio
  • 58,250Assets per employee
  • 3.66%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 63.80%Loss allowance to loans
  • 1.21%Loss allowance to noncurrent loans
  • 118.96%Noncurrent assets plus other real estate owned to assets
  • 0.73%Noncurrent loans to loans
  • 1.01%Net loans and leases to deposits
  • 90.63%Net loans and leases to core deposits
  • 114.02%Equity capital to assets
  • 7.59%Core capital (leverage) ratio
  • 5.84%Tier 1 risk-based capital ratio
  • 6.97%Total risk-based capital ratio
  • Memoranda
  • $10Average assets
  • $124,219,214Average earning assets
  • $9,535,581Average equity
  • $107,440,420Average loans

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