FDIC Certificate #: 11067 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:The Heritage Bank (#8939) Federal Reserve ID: 838221 Date Established: January 01, 1907 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 3 (Interstate: No) FDIC's unique #: 7080 Numeric code: 21 Regulator: FDIC 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: January 01, 1934 Last Structure Change Effective Date: September 14, 2001 Last Structure Change Process Date: October 25, 2001 Last Data Update: October 25, 2001 Data Source Date: April 05, 2012
Location
Address: Peedin Avenue, Pine Level, NC 27568 County: Johnston 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: $27.9 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2000)
Dollar figures in thousands
23Total employees (full-time equivalent)
$26,751Total assets
$1,998Cash and due from depository institutions
$0Interest-bearing balances
$6,276Securities
$3,486Federal funds sold & reverse repurchase agreements
$13,696Net loans & leases
$368Loan loss allowance
$0Trading account assets
$906Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$389All other assets
$26,751Total liabilities and capital
$24,492Total liabilities
$24,238Total deposits
$20,546Interest-bearing deposits
$24,238Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$254All other liabilities
$2,259Total equity capital
$2,259Total bank equity capital
$2,259Perpetual preferred stock
$0Common stock
$400Surplus
$500Undivided profits
Memoranda
$1,359Noncurrent loans and leases
$797Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$276Earning assets
$0Long-term assets (5+ years)
$177Average Assets, year-to-date
$23,458Average Assets, quarterly
$392Volatile liabilities
$25,853Insider loans
$26,292FHLB advances
$1,321Loans and leases held for sale
$149Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$797Total unused commitments
$0Restructured Loans and leases
$189Derivatives
Income and Expense (December 31, 2000)
Dollar figures in thousands
$2,078Total interest income
$751Total interest expense
$1,327Net interest income
$216Provision for loan and lease losses
$250Total noninterest income
$0Fiduciary activities
$228Service charges on deposit accounts
$0Trading account gains & fees
$22Additional noninterest income
$1,558Total noninterest expense
$805Salaries and employee benefits
$233Premises and equipment expense
$520Additional noninterest expense
-$197Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
-$197Income before extraordinary items
$0Extraordinary gains - net
-$197Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$236Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2000)
Dollar figures in thousands
Performance Ratios (%, annualized)
9.34%Yield on earning assets
3.37%Cost of funding earning assets
5.96%Net interest margin
1.12%Noninterest income to earning assets
7.00%Noninterest expense to earning assets
-0.76%Net operating income to assets
-0.76%Return on assets (ROA)
-0.76%Pretax return on assets
-8.21%Return on equity (ROE)
-8.21%Retained earnings to average equity (YTD only)
1.64%Net charge-offs to loans
91.53%Credit loss provision to net charge-offs
0.08%Efficiency ratio
98,795Assets per employee
1.16%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.62%Loss allowance to noncurrent loans
133.33%Noncurrent assets plus other real estate owned to assets
1.03%Noncurrent loans to loans
1.96%Net loans and leases to deposits
56.51%Net loans and leases to core deposits
59.76%Equity capital to assets
8.44%Core capital (leverage) ratio
8.60%Tier 1 risk-based capital ratio
15.09%Total risk-based capital ratio
Memoranda
$16Average assets
$25,853Average earning assets
$2,400Average equity
$22,258Average loans
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