Midlands National Bank in Prosperity, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 30, 1995

Midlands National Bank in Prosperity, South Carolina (SC)
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Midlands National Bank - Overview

General
FDIC Certificate #: 27399
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Carolina First Bank (#26849)
Federal Reserve ID: 1226218
Date Established: December 07, 1988
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 3 (Interstate: No)
FDIC's unique #: 39868
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: No
Date of Deposit Insurance: December 07, 1988
Last Structure Change Effective Date: June 30, 1995
Last Structure Change Process Date: July 18, 1995
Last Data Update: July 18, 1995
Data Source Date: April 05, 2012
Location
Address: 305 Main Street, Prosperity, SC 29127
County: Newberry
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): Columbia-Newberry, SC (#192)
Core Based Statistical Area (CBSA): Newberry, SC (#35140)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $41.3 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)

Dollar figures in thousands
0Total employees (full-time equivalent)
$24Total assets
$42,609Cash and due from depository institutions
$2,500Interest-bearing balances
$400Securities
$9,201Federal funds sold & reverse repurchase agreements
$1,440Net loans & leases
$27,398Loan loss allowance
$333Trading account assets
$0Bank premises and fixed assets
$1,319Other real estate owned
$87Goodwill and other intangibles
$664Life insurance assets
$0All other assets
$0Total liabilities and capital
$42,609Total liabilities
$38,555Total deposits
$38,278Interest-bearing deposits
$35,833Deposits held in domestic offices
38278.00%% insured (estimated)
$92Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$36Subordinated debt
$0All other liabilities
$241Total equity capital
$241Total bank equity capital
$4,054Perpetual preferred stock
$0Common stock
$1,772Surplus
$1,773Undivided profits
Memoranda
$509Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$515Income earned, not collected on loans
$388Earning assets
$38,439Long-term assets (5+ years)
$2,540Average Assets, year-to-date
$43,123Average Assets, quarterly
$42,752Volatile liabilities
$7,470Insider loans
$325FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$1,641Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$4,190Total risk weighted assets
$29,132Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1994)

Dollar figures in thousands
$0Total interest income
$3,351Total interest expense
$1,358Net interest income
$1,993Provision for loan and lease losses
$107Total noninterest income
$248Fiduciary activities
$0Service charges on deposit accounts
$159Trading account gains & fees
$0Additional noninterest income
$89Total noninterest expense
$1,460Salaries and employee benefits
$689Premises and equipment expense
$224Additional noninterest expense
$547Pre-tax net operating income
$674Securities gains (losses)
$0Applicable income taxes
$239Income before extraordinary items
$435Extraordinary gains - net
$0Net income attributable to bank
$435Net charge-offs
$183Cash dividends
$89Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1994)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.48%Cost of funding earning assets
3.44%Net interest margin
5.04%Noninterest income to earning assets
0.63%Noninterest expense to earning assets
3.69%Net operating income to assets
1.01%Return on assets (ROA)
1.01%Pretax return on assets
1.56%Return on equity (ROE)
11.07%Retained earnings to average equity (YTD only)
8.80%Net charge-offs to loans
0.65%Credit loss provision to net charge-offs
58.47%Efficiency ratio
65,149Assets per employee
1.78%Cash dividends to net income (YTD only)
Condition Ratios (%)
20.46%Loss allowance to loans
1.20%Loss allowance to noncurrent loans
64.66%Noncurrent assets plus other real estate owned to assets
1.41%Noncurrent loans to loans
1.86%Net loans and leases to deposits
71.58%Net loans and leases to core deposits
88.93%Equity capital to assets
9.51%Core capital (leverage) ratio
9.79%Tier 1 risk-based capital ratio
14.38%Total risk-based capital ratio
Memoranda
$16Average assets
$43,123Average earning assets
$3,930Average equity
$39,513Average loans

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