Granite City Bank in Elberton, Georgia (GA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 14, 1996

Granite City Bank in Elberton, Georgia (GA)
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Granite City Bank - Overview

General
FDIC Certificate #: 188
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Regions Bank (#26976)
Federal Reserve ID: 65232
Date Established: January 01, 1928
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Interstate: No)
FDIC's unique #: 150
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: January 01, 1934
Last Structure Change Effective Date: June 14, 1996
Last Structure Change Process Date: July 24, 1996
Last Data Update: July 24, 1996
Data Source Date: April 05, 2012
Location
Address: 125 Heard Street, Elberton, GA 30635
County: Elbert
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Atlanta
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Financial Summary
Total assets: $100.9 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)
$39Total assets
$99,889Cash and due from depository institutions
$2,503Interest-bearing balances
$1,090Securities
$52,902Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$42,637Loan loss allowance
$799Trading account assets
$0Bank premises and fixed assets
$700Other real estate owned
$53Goodwill and other intangibles
$1,094Life insurance assets
$0All other assets
$0Total liabilities and capital
$99,889Total liabilities
$83,735Total deposits
$82,977Interest-bearing deposits
$69,544Deposits held in domestic offices
82977.00%% insured (estimated)
$90Federal funds purchased & repurchase agreements
$178Trading liabilities
$0Other borrowed funds
$81Subordinated debt
$0All other liabilities
$499Total equity capital
$499Total bank equity capital
$16,154Perpetual preferred stock
$0Common stock
$1,000Surplus
$5,600Undivided profits
Memoranda
$9,554Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$767Income earned, not collected on loans
$334Earning assets
$96,629Long-term assets (5+ years)
$13,434Average Assets, year-to-date
$101,480Average Assets, quarterly
$100,616Volatile liabilities
$9,514Insider loans
$2,048FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$3,849Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$15,916Total risk weighted assets
$49,820Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1995)

Dollar figures in thousands
$0Total interest income
$7,830Total interest expense
$2,874Net interest income
$4,956Provision for loan and lease losses
$12Total noninterest income
$765Fiduciary activities
$0Service charges on deposit accounts
$512Trading account gains & fees
$0Additional noninterest income
$253Total noninterest expense
$2,883Salaries and employee benefits
$1,472Premises and equipment expense
$238Additional noninterest expense
$1,173Pre-tax net operating income
$2,826Securities gains (losses)
$76Applicable income taxes
$821Income before extraordinary items
$2,081Extraordinary gains - net
$0Net income attributable to bank
$2,081Net charge-offs
$84Cash dividends
$892Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1995)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.04%Cost of funding earning assets
2.95%Net interest margin
5.09%Noninterest income to earning assets
0.79%Noninterest expense to earning assets
2.96%Net operating income to assets
2.00%Return on assets (ROA)
2.05%Pretax return on assets
2.86%Return on equity (ROE)
13.72%Retained earnings to average equity (YTD only)
7.84%Net charge-offs to loans
0.20%Credit loss provision to net charge-offs
14.29%Efficiency ratio
50,393Assets per employee
2.56%Cash dividends to net income (YTD only)
Condition Ratios (%)
42.86%Loss allowance to loans
1.84%Loss allowance to noncurrent loans
104.17%Noncurrent assets plus other real estate owned to assets
0.82%Noncurrent loans to loans
1.77%Net loans and leases to deposits
51.38%Net loans and leases to core deposits
57.86%Equity capital to assets
16.17%Core capital (leverage) ratio
15.59%Tier 1 risk-based capital ratio
31.95%Total risk-based capital ratio
Memoranda
$33Average assets
$101,480Average earning assets
$15,169Average equity
$97,366Average loans

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