Plantation Federal Bank in Pawleys Island, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Plantation Federal Bank in Pawleys Island, South Carolina (SC)
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Plantation Federal Bank - Overview

  • General
  • FDIC Certificate #: 32503
    Status: Active
    Federal Reserve ID: 141976
    Date Established: October 20, 1986
    WWW: http://www.plantationfederal.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 6 (Domestic: 6, Interstate: No)
    OTS Docket #: 8349
    FDIC's unique #: 45337
    Numeric code: 33
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: October 20, 1986
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 11039 Ocean Highway, Pawleys Island, SC 29585
    County: Georgetown
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Columbia Sc
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Southeast
    Combined Statistical Area (CSA): Myrtle Beach-Conway-Georgetown, SC (#396)
    Core Based Statistical Area (CBSA): Georgetown, SC (#23860)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $486.4 mil
    Equity capital: $5.2 mil
    Deposits held in domestic offices: $440.5 mil
    Return on assets (ROA): -3.63% (-$17.6 mil)
    Quarterly return on assets: -4.52% (-$22.0 mil)
    Return on Equity (ROE): -121.40% (-$6.1 mil)
    Quarterly return on equity: -284.64% (-$14.2 mil)
    Net income: -$20.3 mil
    Quarterly Net income: -$5.7 mil
    Pretax return on assets: -3.63% (-$17,656.3 mil)
    Quarterly Pretax return on assets: -4.52% (-$21,985.3 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2011)

  • Dollar figures in thousands
  • 76Total employees (full-time equivalent)
  • $486,400Total assets
  • $88,937Cash and due from depository institutions
  • $83,282Interest-bearing balances
  • $15,587Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $337,129Net loans & leases
  • $10,398Loan loss allowance
  • $0Trading account assets
  • $5,635Bank premises and fixed assets
  • $25,544Other real estate owned
  • $551Goodwill and other intangibles
  • $486,400Life insurance assets
  • $13,017All other assets
  • $481,242Total liabilities and capital
  • $440,511Total liabilities
  • $412,067Total deposits
  • $440,511Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $36,000Trading liabilities
  • $0Other borrowed funds
  • $4,731Subordinated debt
  • $5,158All other liabilities
  • $5,158Total equity capital
  • $5,158Total bank equity capital
  • $0Perpetual preferred stock
  • $1,064Common stock
  • $23,317Surplus
  • $-19,223Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $46,019Income earned, not collected on loans
  • $0Earning assets
  • $1,158Long-term assets (5+ years)
  • $435,998Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $558,973Volatile liabilities
  • $499,987Insider loans
  • $335,289FHLB advances
  • $486,248Loans and leases held for sale
  • $3,085Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $5,063Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $41,171Restructured Loans and leases
  • $721Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $18,840Total interest income
  • $8,335Total interest expense
  • $10,505Net interest income
  • $18,480Provision for loan and lease losses
  • -$294Total noninterest income
  • $0Fiduciary activities
  • $24Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$318Additional noninterest income
  • $13,079Total noninterest expense
  • $5,231Salaries and employee benefits
  • $3,632Premises and equipment expense
  • $4,216Additional noninterest expense
  • -$21,348Pre-tax net operating income
  • $1,072Securities gains (losses)
  • $0Applicable income taxes
  • -$20,276Income before extraordinary items
  • $0Extraordinary gains - net
  • -$20,276Net income attributable to bank
  • $0Net charge-offs
  • -$20,276Cash dividends
  • $15,037Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.75%Yield on earning assets
  • 1.66%Cost of funding earning assets
  • 2.09%Net interest margin
  • -0.06%Noninterest income to earning assets
  • 2.61%Noninterest expense to earning assets
  • -3.82%Net operating income to assets
  • -3.63%Return on assets (ROA)
  • -3.63%Pretax return on assets
  • -121.40%Return on equity (ROE)
  • -121.40%Retained earnings to average equity (YTD only)
  • 3.75%Net charge-offs to loans
  • 122.90%Credit loss provision to net charge-offs
  • -0.19%Efficiency ratio
  • 128,087Assets per employee
  • 6.40%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.99%Loss allowance to noncurrent loans
  • 22.60%Noncurrent assets plus other real estate owned to assets
  • 14.71%Noncurrent loans to loans
  • 13.24%Net loans and leases to deposits
  • 76.53%Net loans and leases to core deposits
  • 81.73%Equity capital to assets
  • 1.06%Core capital (leverage) ratio
  • 1.04%Tier 1 risk-based capital ratio
  • 1.51%Total risk-based capital ratio
  • Memoranda
  • $3Average assets
  • $558,973Average earning assets
  • $16,701Average equity
  • $501,770Average loans

List of branches

  • 6 South Carolina Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    045337Plantation Federal Bank11039 Ocean Highway, Pawleys Island, SC 29585October 20, 1986Full Service Brick and Mortar
    102288177Murrells Inlet Branch11975 U.S. Highway 17 By Pass, Murrells Inlet, SC 29576November 15, 1999Full Service Brick and Mortar
    103481901Myrtle Beach Branch1012 38th Ave N, Myrtle Beach, SC 29577Febuary 01, 2007Full Service Brick and Mortar
    105359950Augusta Street Branch1818 Augusta Street, Greenville, SC 29605October 15, 1999Full Service Brick and Mortar
    106461441Pelham Road Branch8599 Pelham Road, Greenville, SC 29615June 30, 2006Full Service Brick and Mortar
    109481900Roper Mountain Branch501 Roper Mountain Rd, Greenville, SC 29615April 01, 2008Full Service Brick and Mortar

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