Granite Savings Bank, SSB in Granite Falls, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 31, 1993

Granite Savings Bank, SSB in Granite Falls, North Carolina (NC)
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Granite Savings Bank, SSB - Overview

General
FDIC Certificate #: 28069
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: RBC Bank (USA) (#33184)
Federal Reserve ID: 340676
Date Established: July 01, 1919
Bank Charter Class: Savings banks, state charter, supervised by the FDIC
Offices: 2 (Interstate: No)
OTS Docket #: 838
FDIC's unique #: 40903
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: July 02, 1985
Last Structure Change Effective Date: July 31, 1993
Last Structure Change Process Date: August 26, 1993
Last Data Update: August 26, 1993
Data Source Date: April 05, 2012
Location
Address: 115 North Main Street, Granite Falls, NC 28630
County: Caldwell
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): Hickory-Morganton-Lenoir, NC (#3290)
Core Based Statistical Area (CBSA): Hickory-Lenoir-Morganton, NC (#25860)
CBSA Metro Statistical Area: Hickory-Lenoir-Morganton, NC (#25860)
Financial Summary
Total assets: $102.3 mil

Assets and Liabilities (December 31, 1992)

Dollar figures in thousands
0Total employees (full-time equivalent)
$22Total assets
$98,418Cash and due from depository institutions
$13,184Interest-bearing balances
$11,199Securities
$26,829Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$56,691Loan loss allowance
$200Trading account assets
$0Bank premises and fixed assets
$1,128Other real estate owned
$100Goodwill and other intangibles
$486Life insurance assets
$0All other assets
$0Total liabilities and capital
$98,418Total liabilities
$88,475Total deposits
$87,991Interest-bearing deposits
$87,872Deposits held in domestic offices
87991.00%% insured (estimated)
$97Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$0All other liabilities
$484Total equity capital
$484Total bank equity capital
$9,943Perpetual preferred stock
$0Common stock
$0Surplus
$0Undivided profits
Memoranda
$9,943Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$415Income earned, not collected on loans
$0Earning assets
$94,719Long-term assets (5+ years)
$29,245Average Assets, year-to-date
$93,422Average Assets, quarterly
$97,761Volatile liabilities
$6,437Insider loans
$0FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$9,943Total risk weighted assets
$43,926Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1992)

Dollar figures in thousands
$0Total interest income
$7,527Total interest expense
$4,709Net interest income
$2,818Provision for loan and lease losses
$140Total noninterest income
$324Fiduciary activities
$0Service charges on deposit accounts
$41Trading account gains & fees
$0Additional noninterest income
$283Total noninterest expense
$1,472Salaries and employee benefits
$739Premises and equipment expense
$115Additional noninterest expense
$618Pre-tax net operating income
$1,530Securities gains (losses)
$8Applicable income taxes
$592Income before extraordinary items
$946Extraordinary gains - net
$0Net income attributable to bank
$946Net charge-offs
$15Cash 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
8.41%Cost of funding earning assets
5.26%Net interest margin
3.15%Noninterest income to earning assets
0.36%Noninterest expense to earning assets
1.64%Net operating income to assets
1.01%Return on assets (ROA)
1.01%Pretax return on assets
1.65%Return on equity (ROE)
9.84%Retained earnings to average equity (YTD only)
9.84%Net charge-offs to loans
0.03%Credit loss provision to net charge-offs
933.33%Efficiency ratio
46,849Assets per employee
4.47%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.35%Loss allowance to noncurrent loans
48.19%Noncurrent assets plus other real estate owned to assets
0.52%Noncurrent loans to loans
0.73%Net loans and leases to deposits
64.43%Net loans and leases to core deposits
69.51%Equity capital to assets
10.10%Core capital (leverage) ratio
10.04%Tier 1 risk-based capital ratio
22.64%Total risk-based capital ratio
Memoranda
$23Average assets
$93,422Average earning assets
$9,618Average equity
$89,506Average loans

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