Mid-South Bank and Trust Company in Sanford, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 04, 1994

Mid-South Bank and Trust Company in Sanford, North Carolina (NC)
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Mid-South Bank and Trust Company - Overview

General
FDIC Certificate #: 21652
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: RBC Bank (USA) (#33184)
Federal Reserve ID: 146627
Date Established: June 27, 1974
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 15 (Interstate: No)
FDIC's unique #: 14985
Numeric code: 13
Regulator: FED
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
Oakar Institutions: Yes
State Chartered: Yes
Date of Deposit Insurance: June 27, 1974
Last Structure Change Effective Date: June 04, 1994
Last Structure Change Process Date: July 01, 1994
Last Data Update: July 01, 1994
Data Source Date: April 05, 2012
Location
Address: 336-338 Carthage Street, Sanford, NC 27330
County: Lee
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Raleigh
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Southeast
Core Based Statistical Area (CBSA): Sanford, NC (#41820)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $225.7 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)

Dollar figures in thousands
0Total employees (full-time equivalent)
$100Total assets
$231,839Cash and due from depository institutions
$14,547Interest-bearing balances
$0Securities
$69,891Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$140,214Loan loss allowance
$2,433Trading account assets
$0Bank premises and fixed assets
$3,915Other real estate owned
$206Goodwill and other intangibles
$2,138Life insurance assets
$928All other assets
$0Total liabilities and capital
$231,839Total liabilities
$210,413Total deposits
$198,794Interest-bearing deposits
$166,759Deposits held in domestic offices
198794.00%% insured (estimated)
$89Federal funds purchased & repurchase agreements
$9,770Trading liabilities
$0Other borrowed funds
$250Subordinated debt
$0All other liabilities
$1,599Total equity capital
$1,599Total bank equity capital
$21,426Perpetual preferred stock
$0Common stock
$3,142Surplus
$8,326Undivided profits
Memoranda
$9,958Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$196Income earned, not collected on loans
$1,008Earning assets
$210,105Long-term assets (5+ years)
$31,829Average Assets, year-to-date
$214,309Average Assets, quarterly
$220,445Volatile liabilities
$20,109Insider loans
$5,698FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$30,565Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$20,490Total risk weighted assets
$149,677Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1993)

Dollar figures in thousands
$0Total interest income
$15,137Total interest expense
$5,790Net interest income
$9,347Provision for loan and lease losses
$207Total noninterest income
$3,055Fiduciary activities
$0Service charges on deposit accounts
$1,536Trading account gains & fees
$0Additional noninterest income
$1,519Total noninterest expense
$7,093Salaries and employee benefits
$3,487Premises and equipment expense
$953Additional noninterest expense
$2,653Pre-tax net operating income
$5,102Securities gains (losses)
$16Applicable income taxes
$1,673Income before extraordinary items
$3,445Extraordinary gains - net
$0Net income attributable to bank
$3,445Net charge-offs
$92Cash dividends
$949Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1993)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
7.63%Cost of funding earning assets
2.92%Net interest margin
4.71%Noninterest income to earning assets
1.54%Noninterest expense to earning assets
3.58%Net operating income to assets
1.60%Return on assets (ROA)
1.61%Pretax return on assets
2.39%Return on equity (ROE)
17.23%Retained earnings to average equity (YTD only)
12.48%Net charge-offs to loans
0.07%Credit loss provision to net charge-offs
225.00%Efficiency ratio
57,063Assets per employee
2.32%Cash dividends to net income (YTD only)
Condition Ratios (%)
27.55%Loss allowance to loans
1.71%Loss allowance to noncurrent loans
1241.33%Noncurrent assets plus other real estate owned to assets
0.17%Noncurrent loans to loans
0.14%Net loans and leases to deposits
70.53%Net loans and leases to core deposits
74.30%Equity capital to assets
9.24%Core capital (leverage) ratio
9.29%Tier 1 risk-based capital ratio
13.69%Total risk-based capital ratio
Memoranda
$15Average assets
$214,309Average earning assets
$19,993Average equity
$198,274Average loans

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