FDIC Certificate #: 35242 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:BankSouth (#16418) Federal Reserve ID: 2905604 Date Established: April 17, 2000 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Interstate: No) FDIC's unique #: 76799 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: April 17, 2000 Last Structure Change Effective Date: Febuary 04, 2011 Last Structure Change Process Date: Febuary 07, 2011 Last Data Update: Febuary 07, 2011 Data Source Date: April 05, 2012
Location
Address: 7911 Macon Highway, Watkinsville, GA 30677 County: Oconee 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 Metropolitan Statistical Area (MSA): Athens, GA (#500) Core Based Statistical Area (CBSA): Athens-Clarke County, GA (#12020) CBSA Metro Statistical Area: Athens-Clarke County, GA (#12020)
Financial Summary
Total assets: $153.2 mil
2000 - 2011 Historical total assets, liabilities and capital ($ 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
27Total employees (full-time equivalent)
$153,172Total assets
$14,159Cash and due from depository institutions
$1,767Interest-bearing balances
$18,710Securities
$4,100Federal funds sold & reverse repurchase agreements
$97,927Net loans & leases
$1,161Loan loss allowance
$0Trading account assets
$2,079Bank premises and fixed assets
$12,773Other real estate owned
$0Goodwill and other intangibles
$1,380Life insurance assets
$3,424All other assets
$153,172Total liabilities and capital
$152,632Total liabilities
$139,672Total deposits
$135,999Interest-bearing deposits
$139,672Deposits held in domestic offices
98.81%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$12,654Other borrowed funds
$0Subordinated debt
$306All other liabilities
$540Total equity capital
$540Total bank equity capital
$540Perpetual preferred stock
$0Common stock
$2,683Surplus
$9,418Undivided profits
Memoranda
$-11,561Noncurrent loans and leases
$3,436Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$28,532Earning assets
$0Long-term assets (5+ years)
$557Average Assets, year-to-date
$122,504Average Assets, quarterly
$21,368Volatile liabilities
$167,974Insider loans
$159,752FHLB advances
$41,788Loans and leases held for sale
$1,776Unused loan commitments
$12,654Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$107Total risk weighted assets
$3,436Total unused commitments
$1,905Restructured Loans and leases
$879Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$6,074Total interest income
$4,160Total interest expense
$1,914Net interest income
$4,645Provision for loan and lease losses
$371Total noninterest income
$0Fiduciary activities
$109Service charges on deposit accounts
$0Trading account gains & fees
$262Additional noninterest income
$5,550Total noninterest expense
$1,893Salaries and employee benefits
$542Premises and equipment expense
$3,115Additional noninterest expense
-$7,910Pre-tax net operating income
$317Securities gains (losses)
$0Applicable income taxes
-$7,593Income before extraordinary items
$0Extraordinary gains - net
-$7,593Net income attributable to bank
$0Net charge-offs
-$7,593Cash dividends
$6,147Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.22%Yield on earning assets
2.89%Cost of funding earning assets
1.33%Net interest margin
0.26%Noninterest income to earning assets
3.86%Noninterest expense to earning assets
-4.71%Net operating income to assets
-4.52%Return on assets (ROA)
-4.52%Pretax return on assets
-147.12%Return on equity (ROE)
-147.12%Retained earnings to average equity (YTD only)
5.33%Net charge-offs to loans
75.57%Credit loss provision to net charge-offs
-0.53%Efficiency ratio
242,888Assets per employee
5.67%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.17%Loss allowance to noncurrent loans
4.07%Noncurrent assets plus other real estate owned to assets
26.97%Noncurrent loans to loans
28.79%Net loans and leases to deposits
70.11%Net loans and leases to core deposits
100.04%Equity capital to assets
0.35%Core capital (leverage) ratio
0.55%Tier 1 risk-based capital ratio
0.83%Total risk-based capital ratio
Memoranda
$2Average assets
$167,974Average earning assets
$5,161Average equity
$143,833Average loans
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