FDIC Certificate #: 58550 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Four Oaks Bank & Trust Company (#11506) Federal Reserve ID: 3610576 Date Established: September 17, 2007 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 456046 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: September 17, 2007 Last Structure Change Effective Date: January 01, 2010 Last Structure Change Process Date: March 10, 2010 Last Data Update: March 10, 2010 Data Source Date: April 05, 2012
Location
Address: 1408 Garner Station Boulevard, Raleigh, NC 27603 County: Wake 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): Raleigh-Cary, NC (#39580) CBSA Metro Statistical Area: Raleigh-Cary, NC (#39580)
Financial Summary
Total assets: $15.5 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2009)
Dollar figures in thousands
7Total employees (full-time equivalent)
$15,461Total assets
$2,006Cash and due from depository institutions
$408Interest-bearing balances
$0Securities
$5,048Federal funds sold & reverse repurchase agreements
$7,242Net loans & leases
$804Loan loss allowance
$0Trading account assets
$1,040Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$125All other assets
$15,460Total liabilities and capital
$8,323Total liabilities
$8,272Total deposits
$7,540Interest-bearing deposits
$8,272Deposits held in domestic offices
100.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$51All other liabilities
$7,137Total equity capital
$7,137Total bank equity capital
$7,137Perpetual preferred stock
$0Common stock
$2,648Surplus
$10,403Undivided profits
Memoranda
$-5,914Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$10Earning assets
$0Long-term assets (5+ years)
$52Average Assets, year-to-date
$12,698Average Assets, quarterly
$3,371Volatile liabilities
$16,678Insider loans
$16,045FHLB advances
$4,852Loans and leases held for sale
$786Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$0Restructured Loans and leases
$107Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$874Total interest income
$152Total interest expense
$722Net interest income
$738Provision for loan and lease losses
$114Total noninterest income
$0Fiduciary activities
$50Service charges on deposit accounts
$0Trading account gains & fees
$64Additional noninterest income
$1,968Total noninterest expense
$672Salaries and employee benefits
$411Premises and equipment expense
$885Additional noninterest expense
-$1,870Pre-tax net operating income
$76Securities gains (losses)
$0Applicable income taxes
-$1,794Income before extraordinary items
$0Extraordinary gains - net
-$1,794Net income attributable to bank
$0Net charge-offs
-$1,794Cash dividends
$531Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.00%Yield on earning assets
1.04%Cost of funding earning assets
4.96%Net interest margin
0.78%Noninterest income to earning assets
13.52%Noninterest expense to earning assets
-11.21%Net operating income to assets
-10.76%Return on assets (ROA)
-10.76%Pretax return on assets
-21.55%Return on equity (ROE)
-21.55%Retained earnings to average equity (YTD only)
5.76%Net charge-offs to loans
138.98%Credit loss provision to net charge-offs
-2.13%Efficiency ratio
235,407Assets per employee
2.21%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
9.99%Loss allowance to noncurrent loans
8040.00%Noncurrent assets plus other real estate owned to assets
0.06%Noncurrent loans to loans
0.12%Net loans and leases to deposits
87.55%Net loans and leases to core deposits
211.75%Equity capital to assets
46.16%Core capital (leverage) ratio
42.84%Tier 1 risk-based capital ratio
89.62%Total risk-based capital ratio
Memoranda
$91Average assets
$16,678Average earning assets
$8,326Average equity
$14,559Average loans
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