FDIC Certificate #: 30118 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Mechanics & Farmers Bank (#12266) Federal Reserve ID: 855778 Date Established: January 01, 1921 Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 3 (Interstate: No) OTS Docket #: 4777 FDIC's unique #: 42952 Numeric code: 41 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: November 07, 1941 Last Structure Change Effective Date: March 28, 2008 Last Structure Change Process Date: April 04, 2008 Last Data Update: April 04, 2008 Data Source Date: April 05, 2012
Location
Address: 315 East Chapel Hill Street, Durham, NC 27701 County: Durham 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 Metropolitan Statistical Area (MSA): Raleigh-Durham-Chapel Hill, NC (#6640) Combined Statistical Area (CSA): Raleigh-Durham-Cary, NC (#450) Core Based Statistical Area (CBSA): Durham-Chapel Hill, NC (#20500) CBSA Metro Statistical Area: Durham-Chapel Hill, NC (#20500)
Financial Summary
Total assets: $63.9 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2007)
Dollar figures in thousands
26Total employees (full-time equivalent)
$63,862Total assets
$12,386Cash and due from depository institutions
$9,717Interest-bearing balances
$4,151Securities
$0Federal funds sold & reverse repurchase agreements
$43,261Net loans & leases
$746Loan loss allowance
$0Trading account assets
$2,677Bank premises and fixed assets
$93Other real estate owned
$0Goodwill and other intangibles
$139Life insurance assets
$1,294All other assets
$63,862Total liabilities and capital
$59,178Total liabilities
$49,796Total deposits
$38,439Interest-bearing deposits
$49,796Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$8,900Other borrowed funds
$0Subordinated debt
$482All other liabilities
$4,684Total equity capital
$4,684Total bank equity capital
$4,684Perpetual preferred stock
$0Common stock
$4Surplus
$3,146Undivided profits
Memoranda
$1,534Noncurrent loans and leases
$4,549Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,191Earning assets
$0Long-term assets (5+ years)
$346Average Assets, year-to-date
$57,129Average Assets, quarterly
$20,960Volatile liabilities
$81,241Insider loans
$73,671FHLB advances
$8,648Loans and leases held for sale
$643Unused loan commitments
$8,900Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$4,549Total unused commitments
$0Restructured Loans and leases
$576Derivatives
Income and Expense (December 31, 2007)
Dollar figures in thousands
$4,610Total interest income
$2,349Total interest expense
$2,261Net interest income
-$33Provision for loan and lease losses
$1,071Total noninterest income
$0Fiduciary activities
$515Service charges on deposit accounts
$0Trading account gains & fees
$556Additional noninterest income
$3,827Total noninterest expense
$1,774Salaries and employee benefits
$728Premises and equipment expense
$1,325Additional noninterest expense
-$462Pre-tax net operating income
-$62Securities gains (losses)
$1,114Applicable income taxes
-$1,638Income before extraordinary items
$0Extraordinary gains - net
-$1,638Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$53Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2007)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.39%Yield on earning assets
3.25%Cost of funding earning assets
3.13%Net interest margin
1.48%Noninterest income to earning assets
5.30%Noninterest expense to earning assets
-1.94%Net operating income to assets
-2.02%Return on assets (ROA)
-0.64%Pretax return on assets
-29.73%Return on equity (ROE)
-29.73%Retained earnings to average equity (YTD only)
0.10%Net charge-offs to loans
-62.26%Credit loss provision to net charge-offs
-9.34%Efficiency ratio
114,856Assets per employee
2.46%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.70%Loss allowance to noncurrent loans
62.64%Noncurrent assets plus other real estate owned to assets
2.01%Noncurrent loans to loans
2.71%Net loans and leases to deposits
86.88%Net loans and leases to core deposits
105.14%Equity capital to assets
7.33%Core capital (leverage) ratio
7.35%Tier 1 risk-based capital ratio
10.19%Total risk-based capital ratio
Memoranda
$11Average assets
$81,241Average earning assets
$5,509Average equity
$72,193Average loans
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