FirstSouth Bank in Burlington, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 26, 1996

  • FirstSouth Bank in Burlington, North Carolina (NC)
  • Show street view No street view available for this location

FirstSouth Bank - Overview

  • General
  • FDIC Certificate #: 27245
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: RBC Bank (USA) (#33184)
    Federal Reserve ID: 1190038
    Date Established: May 16, 1988
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 5 (Interstate: No)
    OTS Docket #: 10552
    FDIC's unique #: 39186
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: Yes
    Date of Deposit Insurance: May 16, 1988
    Last Structure Change Effective Date: October 26, 1996
    Last Structure Change Process Date: December 02, 1996
    Last Data Update: December 02, 1996
    Data Source Date: April 05, 2012
  • Location
  • Address: 2946 South Church Street, Burlington, NC 27215
    County: Alamance
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Raleigh
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Greensboro--Winston-Salem--High Point, NC (#3120)
    Combined Statistical Area (CSA): Greensboro-Winston-Salem-High Point, NC (#268)
    Core Based Statistical Area (CBSA): Burlington, NC (#15500)
    CBSA Metro Statistical Area: Burlington, NC (#15500)
  • Financial Summary
  • Total assets: $185.9 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $65Total assets
  • $169,303Cash and due from depository institutions
  • $11,015Interest-bearing balances
  • $4,622Securities
  • $35,663Federal funds sold & reverse repurchase agreements
  • $1,375Net loans & leases
  • $114,548Loan loss allowance
  • $1,618Trading account assets
  • $0Bank premises and fixed assets
  • $4,128Other real estate owned
  • $49Goodwill and other intangibles
  • $1,552Life insurance assets
  • $973All other assets
  • $0Total liabilities and capital
  • $169,303Total liabilities
  • $153,166Total deposits
  • $150,572Interest-bearing deposits
  • $130,619Deposits held in domestic offices
  • 150572.00%% insured (estimated)
  • $86Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $800Subordinated debt
  • $0All other liabilities
  • $1,794Total equity capital
  • $1,794Total bank equity capital
  • $16,137Perpetual preferred stock
  • $0Common stock
  • $5,756Surplus
  • $8,003Undivided profits
  • Memoranda
  • $2,378Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $15Income earned, not collected on loans
  • $724Earning assets
  • $156,208Long-term assets (5+ years)
  • $2,892Average Assets, year-to-date
  • $154,856Average Assets, quarterly
  • $165,219Volatile liabilities
  • $21,616Insider loans
  • $5,937FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $30,774Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $15,154Total risk weighted assets
  • $127,710Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1995)

  • Dollar figures in thousands
  • $0Total interest income
  • $12,409Total interest expense
  • $5,628Net interest income
  • $6,781Provision for loan and lease losses
  • $195Total noninterest income
  • $1,124Fiduciary activities
  • $0Service charges on deposit accounts
  • $771Trading account gains & fees
  • $0Additional noninterest income
  • $353Total noninterest expense
  • $4,895Salaries and employee benefits
  • $2,520Premises and equipment expense
  • $769Additional noninterest expense
  • $1,606Pre-tax net operating income
  • $2,815Securities gains (losses)
  • $0Applicable income taxes
  • $1,002Income before extraordinary items
  • $1,813Extraordinary gains - net
  • $0Net income attributable to bank
  • $1,813Net charge-offs
  • $40Cash dividends
  • $410Sale, conversion, retirement of capital stock, net
  • $456Net operating income

Performance and Condition Ratios (December 31, 1995)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 8.72%Cost of funding earning assets
  • 3.96%Net interest margin
  • 4.77%Noninterest income to earning assets
  • 0.79%Noninterest expense to earning assets
  • 3.44%Net operating income to assets
  • 1.17%Return on assets (ROA)
  • 1.17%Pretax return on assets
  • 1.82%Return on equity (ROE)
  • 12.03%Retained earnings to average equity (YTD only)
  • 9.31%Net charge-offs to loans
  • 0.04%Credit loss provision to net charge-offs
  • 487.50%Efficiency ratio
  • 60,443Assets per employee
  • 2.60%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 22.61%Loss allowance to loans
  • 1.39%Loss allowance to noncurrent loans
  • 10786.67%Noncurrent assets plus other real estate owned to assets
  • 0.04%Noncurrent loans to loans
  • 0.01%Net loans and leases to deposits
  • 76.08%Net loans and leases to core deposits
  • 88.28%Equity capital to assets
  • 9.53%Core capital (leverage) ratio
  • 9.20%Tier 1 risk-based capital ratio
  • 11.87%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $154,856Average earning assets
  • $15,066Average equity
  • $142,265Average loans

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

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with FirstSouth Bank.
Based on public records. Inadvertent errors are possible.
bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents