FDIC Certificate #: 30602 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Security Savings Bank, SSB (#28139) Federal Reserve ID: 318572 Date Established: January 01, 1947 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) OTS Docket #: 5620 FDIC's unique #: 43436 Numeric code: 38 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: March 09, 1953 Last Structure Change Effective Date: April 01, 2003 Last Structure Change Process Date: April 16, 2003 Last Data Update: April 16, 2003 Data Source Date: April 05, 2012
Location
Address: 132 Swannanoa Avenue, Liberty, NC 27298 County: Randolph 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): Greensboro--Winston-Salem--High Point, NC (#3120) Combined Statistical Area (CSA): Greensboro-Winston-Salem-High Point, NC (#268) Core Based Statistical Area (CBSA): Greensboro-High Point, NC (#24660) CBSA Metro Statistical Area: Greensboro-High Point, NC (#24660)
Financial Summary
Total assets: $29.5 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2002)
Dollar figures in thousands
4Total employees (full-time equivalent)
$29,009Total assets
$4,746Cash and due from depository institutions
$3,526Interest-bearing balances
$9,801Securities
$1,000Federal funds sold & reverse repurchase agreements
$13,043Net loans & leases
$37Loan loss allowance
$0Trading account assets
$60Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$359All other assets
$29,009Total liabilities and capital
$22,536Total liabilities
$22,118Total deposits
$22,118Interest-bearing deposits
$22,118Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$418All other liabilities
$6,473Total equity capital
$6,473Total bank equity capital
$6,473Perpetual preferred stock
$0Common stock
$0Surplus
$0Undivided profits
Memoranda
$6,473Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$54Earning assets
$0Long-term assets (5+ years)
$123Average Assets, year-to-date
$27,370Average Assets, quarterly
$0Volatile liabilities
$28,105Insider loans
$28,745FHLB advances
$3,346Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$0Restructured Loans and leases
$37Derivatives
Income and Expense (December 31, 2002)
Dollar figures in thousands
$1,577Total interest income
$621Total interest expense
$956Net interest income
$0Provision for loan and lease losses
$14Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$14Additional noninterest income
$529Total noninterest expense
$353Salaries and employee benefits
$107Premises and equipment expense
$69Additional noninterest expense
$441Pre-tax net operating income
$0Securities gains (losses)
$169Applicable income taxes
$272Income before extraordinary items
-$5Extraordinary gains - net
$267Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2002)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.89%Yield on earning assets
2.32%Cost of funding earning assets
3.57%Net interest margin
0.05%Noninterest income to earning assets
1.98%Noninterest expense to earning assets
0.97%Net operating income to assets
0.95%Return on assets (ROA)
1.55%Pretax return on assets
4.12%Return on equity (ROE)
4.12%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
54,536Assets per employee
7.25%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.28%Loss allowance to noncurrent loans
68.52%Noncurrent assets plus other real estate owned to assets
0.19%Noncurrent loans to loans
0.41%Net loans and leases to deposits
58.97%Net loans and leases to core deposits
69.48%Equity capital to assets
22.31%Core capital (leverage) ratio
21.54%Tier 1 risk-based capital ratio
60.41%Total risk-based capital ratio
Memoranda
$61Average assets
$28,105Average earning assets
$6,475Average equity
$26,766Average loans
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