FDIC Certificate #: 57705 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Citizens South Bank (#28833) Federal Reserve ID: 3236396 Date Established: May 21, 2004 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 420387 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: May 21, 2004 Last Structure Change Effective Date: April 15, 2011 Last Structure Change Process Date: April 18, 2011 Last Data Update: April 18, 2011 Data Source Date: April 05, 2012
Location
Address: 489 Highland Xing, East Ellijay, GA 30540 County: Gilmer Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Atlanta Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast
Financial Summary
Total assets: $103.1 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2010)
Dollar figures in thousands
22Total employees (full-time equivalent)
$110,711Total assets
$11,710Cash and due from depository institutions
$11,313Interest-bearing balances
$10,433Securities
$0Federal funds sold & reverse repurchase agreements
$74,154Net loans & leases
$3,908Loan loss allowance
$0Trading account assets
$3,795Bank premises and fixed assets
$9,562Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,057All other assets
$110,711Total liabilities and capital
$110,226Total liabilities
$106,121Total deposits
$101,667Interest-bearing deposits
$106,121Deposits held in domestic offices
99.63%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$4,000Other borrowed funds
$0Subordinated debt
$105All other liabilities
$485Total equity capital
$485Total bank equity capital
$485Perpetual preferred stock
$0Common stock
$4,000Surplus
$6,510Undivided profits
Memoranda
$-10,025Noncurrent loans and leases
$2,731Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$7,909Earning assets
$0Long-term assets (5+ years)
$423Average Assets, year-to-date
$95,900Average Assets, quarterly
$10,140Volatile liabilities
$120,527Insider loans
$114,876FHLB advances
$27,935Loans and leases held for sale
$413Unused loan commitments
$4,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$2,731Total unused commitments
$7,335Restructured Loans and leases
$309Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$5,205Total interest income
$2,200Total interest expense
$3,005Net interest income
$5,717Provision for loan and lease losses
-$451Total noninterest income
$0Fiduciary activities
$100Service charges on deposit accounts
$0Trading account gains & fees
-$551Additional noninterest income
$3,797Total noninterest expense
$1,505Salaries and employee benefits
$369Premises and equipment expense
$1,923Additional noninterest expense
-$6,960Pre-tax net operating income
$34Securities gains (losses)
$0Applicable income taxes
-$6,926Income before extraordinary items
$0Extraordinary gains - net
-$6,926Net income attributable to bank
$0Net charge-offs
-$6,926Cash dividends
$4,842Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.81%Yield on earning assets
2.03%Cost of funding earning assets
2.78%Net interest margin
-0.42%Noninterest income to earning assets
3.51%Noninterest expense to earning assets
-5.77%Net operating income to assets
-5.75%Return on assets (ROA)
-5.75%Pretax return on assets
-139.34%Return on equity (ROE)
-139.34%Retained earnings to average equity (YTD only)
5.37%Net charge-offs to loans
118.07%Credit loss provision to net charge-offs
-0.26%Efficiency ratio
148,669Assets per employee
5.03%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
5.01%Loss allowance to noncurrent loans
49.41%Noncurrent assets plus other real estate owned to assets
15.78%Noncurrent loans to loans
10.13%Net loans and leases to deposits
69.88%Net loans and leases to core deposits
93.65%Equity capital to assets
0.44%Core capital (leverage) ratio
0.26%Tier 1 risk-based capital ratio
0.37%Total risk-based capital ratio
Memoranda
$1Average assets
$120,527Average earning assets
$4,970Average equity
$108,128Average loans
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