High Country Bank in Boone, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of January 01, 2004

High Country Bank in Boone, North Carolina (NC)
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High Country Bank - Overview

General
FDIC Certificate #: 34865
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Yadkin Valley Bank and Trust Company (#19861)
Federal Reserve ID: 2748436
Date Established: November 30, 1998
WWW: http://www.highcountrybank.com
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Interstate: No)
OTS Docket #: 16080
FDIC's unique #: 61927
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: November 30, 1998
Last Structure Change Effective Date: January 01, 2004
Last Structure Change Process Date: January 29, 2004
Last Data Update: January 29, 2004
Data Source Date: April 05, 2012
Location
Address: 149 Jefferson Road, Boone, NC 28607
County: Watauga
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
Core Based Statistical Area (CBSA): Boone, NC (#14380)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $183.8 mil

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

2000 - 2011 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, 2003)

Dollar figures in thousands
64Total employees (full-time equivalent)
$183,833Total assets
$5,097Cash and due from depository institutions
$9Interest-bearing balances
$8,716Securities
$5,375Federal funds sold & reverse repurchase agreements
$154,653Net loans & leases
$2,038Loan loss allowance
$0Trading account assets
$5,692Bank premises and fixed assets
$1,394Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$2,906All other assets
$183,833Total liabilities and capital
$168,573Total liabilities
$163,267Total deposits
$142,858Interest-bearing deposits
$163,267Deposits held in domestic offices
0.00%% insured (estimated)
$2,929Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$2,377All other liabilities
$15,260Total equity capital
$15,260Total bank equity capital
$15,260Perpetual preferred stock
$0Common stock
$7,084Surplus
$7,329Undivided profits
Memoranda
$847Noncurrent loans and leases
$39,074Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$988Earning assets
$0Long-term assets (5+ years)
$791Average Assets, year-to-date
$168,753Average Assets, quarterly
$24,099Volatile liabilities
$179,019Insider loans
$183,177FHLB advances
$36,484Loans and leases held for sale
$2,329Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$39,074Total unused commitments
$0Restructured Loans and leases
$2,038Derivatives

Income and Expense (December 31, 2003)

Dollar figures in thousands
$9,800Total interest income
$3,778Total interest expense
$6,022Net interest income
$930Provision for loan and lease losses
$3,113Total noninterest income
$0Fiduciary activities
$1,072Service charges on deposit accounts
$0Trading account gains & fees
$2,041Additional noninterest income
$6,238Total noninterest expense
$3,431Salaries and employee benefits
$699Premises and equipment expense
$2,108Additional noninterest expense
$1,967Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
$1,967Income before extraordinary items
-$2,061Extraordinary gains - net
-$94Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$604Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 2003)

Dollar figures in thousands
Performance Ratios (%, annualized)
5.93%Yield on earning assets
2.29%Cost of funding earning assets
3.64%Net interest margin
1.88%Noninterest income to earning assets
3.77%Noninterest expense to earning assets
1.10%Net operating income to assets
-0.05%Return on assets (ROA)
-0.05%Pretax return on assets
-0.60%Return on equity (ROE)
-0.60%Retained earnings to average equity (YTD only)
0.41%Net charge-offs to loans
153.97%Credit loss provision to net charge-offs
4.80%Efficiency ratio
68,287Assets per employee
2.87%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.30%Loss allowance to noncurrent loans
206.28%Noncurrent assets plus other real estate owned to assets
1.30%Noncurrent loans to loans
0.63%Net loans and leases to deposits
94.72%Net loans and leases to core deposits
119.23%Equity capital to assets
8.30%Core capital (leverage) ratio
8.31%Tier 1 risk-based capital ratio
9.02%Total risk-based capital ratio
Memoranda
$10Average assets
$179,019Average earning assets
$15,747Average equity
$165,273Average loans

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