FDIC Certificate #: 30338 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:SouthBank (#28855) Federal Reserve ID: 124979 Date Established: April 19, 1948 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) OTS Docket #: 5194 FDIC's unique #: 43172 Numeric code: 33 Regulator: OTS Insurance Fund Membership: Savings Association Insurance Fund (SAIF) FDIC Insured: Yes SAIF Insured: Yes Insured Savings Institution: Yes State Chartered: No Date of Deposit Insurance: April 19, 1948 Last Structure Change Effective Date: June 29, 2001 Last Structure Change Process Date: July 18, 2001 Last Data Update: July 18, 2001 Data Source Date: April 05, 2012
Location
Address: 201 West Main Street, Laurens, SC 29360 County: Laurens Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Columbia Sc Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Southeast Combined Statistical Area (CSA): Greenville-Spartanburg-Anderson, SC (#273) Core Based Statistical Area (CBSA): Greenville-Mauldin-Easley, SC (#24860) CBSA Metro Statistical Area: Greenville-Mauldin-Easley, SC (#24860)
Financial Summary
Total assets: $290.2 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2000)
Dollar figures in thousands
44Total employees (full-time equivalent)
$292,015Total assets
$5,965Cash and due from depository institutions
$3,228Interest-bearing balances
$17,227Securities
$100Federal funds sold & reverse repurchase agreements
$247,627Net loans & leases
$2,710Loan loss allowance
$0Trading account assets
$4,892Bank premises and fixed assets
$735Other real estate owned
$247Goodwill and other intangibles
$0Life insurance assets
$15,222All other assets
$292,015Total liabilities and capital
$256,422Total liabilities
$211,427Total deposits
$208,850Interest-bearing deposits
$211,427Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$39,844Other borrowed funds
$0Subordinated debt
$5,151All other liabilities
$35,593Total equity capital
$35,593Total bank equity capital
$35,593Perpetual preferred stock
$0Common stock
$1Surplus
$39,946Undivided profits
Memoranda
$-4,354Noncurrent loans and leases
$31,167Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$6,993Earning assets
$0Long-term assets (5+ years)
$1,601Average Assets, year-to-date
$268,182Average Assets, quarterly
$0Volatile liabilities
$318,644Insider loans
$290,649FHLB advances
$109,951Loans and leases held for sale
$0Unused loan commitments
$39,844Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$31,167Total unused commitments
$735Restructured Loans and leases
$4,583Derivatives
Income and Expense (December 31, 2000)
Dollar figures in thousands
$24,560Total interest income
$14,757Total interest expense
$9,803Net interest income
$1,813Provision for loan and lease losses
$875Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$875Additional noninterest income
$9,466Total noninterest expense
$6,857Salaries and employee benefits
$793Premises and equipment expense
$1,816Additional noninterest expense
-$601Pre-tax net operating income
$550Securities gains (losses)
-$29Applicable income taxes
-$22Income before extraordinary items
$0Extraordinary gains - net
-$22Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$597Sale, conversion, retirement of capital stock, net
$29,534Net operating income
Performance and Condition Ratios (December 31, 2000)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.10%Yield on earning assets
4.87%Cost of funding earning assets
3.23%Net interest margin
0.29%Noninterest income to earning assets
3.12%Noninterest expense to earning assets
-0.12%Net operating income to assets
-0.01%Return on assets (ROA)
-0.02%Pretax return on assets
-0.04%Return on equity (ROE)
-55.12%Retained earnings to average equity (YTD only)
0.22%Net charge-offs to loans
303.69%Credit loss provision to net charge-offs
2.03%Efficiency ratio
88,106Assets per employee
6.64%Cash dividends to net income (YTD only)
Condition Ratios (%)
-134245.45%Loss allowance to loans
1.08%Loss allowance to noncurrent loans
38.75%Noncurrent assets plus other real estate owned to assets
2.65%Noncurrent loans to loans
2.79%Net loans and leases to deposits
117.12%Net loans and leases to core deposits
175.22%Equity capital to assets
12.19%Core capital (leverage) ratio
11.45%Tier 1 risk-based capital ratio
17.56%Total risk-based capital ratio
Memoranda
$20Average assets
$318,644Average earning assets
$53,623Average equity
$303,070Average 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 Heritage Federal 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.
Comment about this bank, ask questions, or add new information about it: