New East Bank of the Albemarle in Elizabeth City, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of December 29, 1993

New East Bank of the Albemarle in Elizabeth City, North Carolina (NC)
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New East Bank of the Albemarle - Overview

General
FDIC Certificate #: 32963
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Triangle Bank (#27145)
Federal Reserve ID: 1450899
Date Established: May 18, 1990
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 1 (Interstate: No)
FDIC's unique #: 46141
Numeric code: 13
Regulator: FED
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: May 18, 1990
Last Structure Change Effective Date: December 29, 1993
Last Structure Change Process Date: January 26, 1994
Last Data Update: January 26, 1994
Data Source Date: April 05, 2012
Location
Address: 916 West Ehringhaus Street, Elizabeth City, NC 27909
County: Pasquotank
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): Elizabeth City, NC (#21020)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $16.3 mil

Assets and Liabilities (December 31, 1992)

Dollar figures in thousands
0Total employees (full-time equivalent)
$6Total assets
$15,861Cash and due from depository institutions
$788Interest-bearing balances
$0Securities
$3,937Federal funds sold & reverse repurchase agreements
$345Net loans & leases
$10,323Loan loss allowance
$307Trading account assets
$0Bank premises and fixed assets
$322Other real estate owned
$0Goodwill and other intangibles
$146Life insurance assets
$0All other assets
$0Total liabilities and capital
$15,861Total liabilities
$13,297Total deposits
$13,025Interest-bearing deposits
$11,398Deposits held in domestic offices
13025.00%% insured (estimated)
$94Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$129Subordinated debt
$0All other liabilities
$143Total equity capital
$143Total bank equity capital
$2,564Perpetual preferred stock
$0Common stock
$1,750Surplus
$1,750Undivided profits
Memoranda
$-936Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$68Earning assets
$14,605Long-term assets (5+ years)
$1,193Average Assets, year-to-date
$18,509Average Assets, quarterly
$17,459Volatile liabilities
$1,700Insider loans
$29FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$1,912Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$2,564Total risk weighted assets
$11,193Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1992)

Dollar figures in thousands
$0Total interest income
$1,427Total interest expense
$701Net interest income
$726Provision for loan and lease losses
$158Total noninterest income
$98Fiduciary activities
$0Service charges on deposit accounts
$93Trading account gains & fees
$0Additional noninterest income
$5Total noninterest expense
$857Salaries and employee benefits
$248Premises and equipment expense
$157Additional noninterest expense
$452Pre-tax net operating income
-$191Securities gains (losses)
$24Applicable income taxes
$0Income before extraordinary items
-$167Extraordinary gains - net
$0Net income attributable to bank
-$167Net charge-offs
$4Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1992)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.28%Cost of funding earning assets
4.07%Net interest margin
4.21%Noninterest income to earning assets
0.57%Noninterest expense to earning assets
4.98%Net operating income to assets
-1.03%Return on assets (ROA)
-0.90%Pretax return on assets
-0.90%Return on equity (ROE)
-6.32%Retained earnings to average equity (YTD only)
-6.32%Net charge-offs to loans
0.03%Credit loss provision to net charge-offs
3950.00%Efficiency ratio
104,005Assets per employee
2.64%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.89%Loss allowance to noncurrent loans
0.00%Noncurrent assets plus other real estate owned to assets
0.00%Noncurrent loans to loans
0.00%Net loans and leases to deposits
79.26%Net loans and leases to core deposits
91.15%Equity capital to assets
16.17%Core capital (leverage) ratio
14.49%Tier 1 risk-based capital ratio
22.91%Total risk-based capital ratio
Memoranda
$24Average assets
$18,509Average earning assets
$2,641Average equity
$17,225Average loans

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