Sound Banking Company in city_name, state_name - Detailed Financial Reports, Location

Sound Banking Company in Morehead City, North Carolina (NC)
Show street view No street view available for this location

Sound Banking Company routing number info

Sound Banking Company - Overview

General
FDIC Certificate #: 57095
Status: Active
Federal Reserve ID: 3047659
Date Established: September 04, 2001
WWW: http://www.soundbanking.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Domestic: 4, Interstate: No)
FDIC's unique #: 357477
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: September 04, 2001
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
Location
Address: 5039 Executive Drive, Morehead City, NC 28557
County: Carteret
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
Core Based Statistical Area (CBSA): Morehead City, NC (#33980)
CBSA Micro Statistical Area: Yes
History of Changes
Merge BIF and SAIF Funds into DIF
Financial Summary
Total assets: $113.5 mil
Equity capital: $12.7 mil
Deposits held in domestic offices: $87.3 mil
Return on assets (ROA): 0.47% ($0.5 mil)
Quarterly return on assets: 0.45% ($0.5 mil)
Return on Equity (ROE): 4.53% ($0.6 mil)
Quarterly return on equity: 4.05% ($0.5 mil)
Net income: $0.6 mil
Quarterly Net income: $0.1 mil
Pretax return on assets: 0.52% ($590.0 mil)
Quarterly Pretax return on assets: 0.61% ($692.1 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, 2011)

Dollar figures in thousands
30Total employees (full-time equivalent)
$113,460Total assets
$2,285Cash and due from depository institutions
$774Interest-bearing balances
$18,964Securities
$0Federal funds sold & reverse repurchase agreements
$83,408Net loans & leases
$2,062Loan loss allowance
$0Trading account assets
$2,543Bank premises and fixed assets
$1,016Other real estate owned
$0Goodwill and other intangibles
$113,460Life insurance assets
$5,244All other assets
$100,761Total liabilities and capital
$87,265Total liabilities
$74,799Total deposits
$87,265Interest-bearing deposits
$94Deposits held in domestic offices
310.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$10,200Trading liabilities
$2,000Other borrowed funds
$986Subordinated debt
$12,699All other liabilities
$12,699Total equity capital
$12,699Total bank equity capital
$3,409Perpetual preferred stock
$5,031Common stock
$3,231Surplus
$1,028Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$889Income earned, not collected on loans
$0Earning assets
$419Long-term assets (5+ years)
$103,146Average Assets, year-to-date
$17,183Average Assets, quarterly
$118,060Volatile liabilities
$113,518Insider loans
$85,654FHLB advances
$112,223Loans and leases held for sale
$2,853Unused loan commitments
$2,853Tier 1 (core) risk-based capital
$11,624Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$10,111Restructured Loans and leases
$2,923Derivatives

Income and Expense (December 31, 2011)

Dollar figures in thousands
$5,713Total interest income
$997Total interest expense
$4,716Net interest income
$990Provision for loan and lease losses
$676Total noninterest income
$0Fiduciary activities
$282Service charges on deposit accounts
$0Trading account gains & fees
$394Additional noninterest income
$3,857Total noninterest expense
$1,748Salaries and employee benefits
$419Premises and equipment expense
$1,690Additional noninterest expense
$545Pre-tax net operating income
$71Securities gains (losses)
$66Applicable income taxes
$550Income before extraordinary items
$0Extraordinary gains - net
$550Net income attributable to bank
$0Net charge-offs
$550Cash dividends
$1,080Sale, conversion, retirement of capital stock, net
$167Net operating income

Performance and Condition Ratios (December 31, 2011)

Dollar figures in thousands
Performance Ratios (%, annualized)
5.35%Yield on earning assets
0.93%Cost of funding earning assets
4.42%Net interest margin
0.63%Noninterest income to earning assets
3.61%Noninterest expense to earning assets
0.41%Net operating income to assets
0.47%Return on assets (ROA)
0.52%Pretax return on assets
4.53%Return on equity (ROE)
3.15%Retained earnings to average equity (YTD only)
1.26%Net charge-offs to loans
91.67%Credit loss provision to net charge-offs
1.42%Efficiency ratio
71,532Assets per employee
3.78%Cash dividends to net income (YTD only)
Condition Ratios (%)
30.36%Loss allowance to loans
2.41%Loss allowance to noncurrent loans
231.95%Noncurrent assets plus other real estate owned to assets
1.68%Noncurrent loans to loans
1.04%Net loans and leases to deposits
95.58%Net loans and leases to core deposits
110.84%Equity capital to assets
11.19%Core capital (leverage) ratio
10.36%Tier 1 risk-based capital ratio
13.57%Total risk-based capital ratio
Memoranda
$17Average assets
$118,060Average earning assets
$12,154Average equity
$106,798Average loans

List of branches

4 North Carolina Branches as of April 05, 2012

No	ID	Name	Address	Established	Service Type
0	357477	Sound Banking Company	5039 Executive Drive, Morehead City, NC 28557	September 04, 2001	Full Service Brick and Mortar
1	439761	Messenger Service	5039 Executive Drive, Morehead City, NC 28557	April 12, 2005	Limited Service Messenger
2	441831	Cape Cateret Branch	204 W. B. Mclean Drive, Suite C, Cape Carteret, NC 28584	July 05, 2005	Full Service Brick and Mortar
3	468329	Beaufort Branch	1897 Live Oak Street, Beaufort, NC 28516	July 16, 2007	Full Service Brick and Mortar

Marcilio

⚠

Almost all of the things you say is asgisonhintly precise and that makes me ponder why I had not looked at this with this light before. This particular article really did switch the light on for me personally as far as this specific subject matter goes. Nevertheless at this time there is just one issue I am not really too comfortable with and whilst I make an effort to reconcile that with the core theme of the position, let me see what all the rest of the subscribers have to say.Well done.

Sound Banking Company in Morehead City, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

Sound Banking Company - Overview

Assets and Liabilities (December 31, 2011)

Income and Expense (December 31, 2011)

Performance and Condition Ratios (December 31, 2011)

List of branches

Comment about this bank, ask questions, or add new information about it:

Sound Banking Company in Morehead City, North Carolina (NC)Overview, Financial Summary, Detailed Financial Reports, Branches

Sound Banking Company - Overview

Assets and Liabilities (December 31, 2011)

Income and Expense (December 31, 2011)

Performance and Condition Ratios (December 31, 2011)

List of branches

Comment about this bank, ask questions, or add new information about it:

Sound Banking Company in Morehead City, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches