Surety Federal Savings and Loan Association, F.A. in Morganton, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of August 27, 1993

  • Surety Federal Savings and Loan Association, F.A. in Morganton, North Carolina (NC)
  • Show street view No street view available for this location

Surety Federal Savings and Loan Association, F.A. - Overview

  • General
  • FDIC Certificate #: 33459
    Status: Inactive
    Closing history: Conservatorship Institution Resolved
    Acquiring institution: First-Citizens Bank & Trust Company (#11063)
    Federal Reserve ID: 390671
    Date Established: July 09, 1991
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 9318
    FDIC's unique #: 47164
    Numeric code: 38
    Regulator: OTS
    Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
    FDIC Insured: Yes
    SAIF Insured: Yes
    Insured Savings Institution: Yes
    State Chartered: No
    Date of Deposit Insurance: July 09, 1991
    Last Structure Change Effective Date: August 27, 1993
    Last Structure Change Process Date: September 16, 1993
    Last Data Update: August 02, 1994
    Data Source Date: April 05, 2012
  • Location
  • Address: 217 North Sterling Street, Morganton, NC 28655
    County: Burke
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Charlotte
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Hickory-Morganton-Lenoir, NC (#3290)
    Core Based Statistical Area (CBSA): Hickory-Lenoir-Morganton, NC (#25860)
    CBSA Metro Statistical Area: Hickory-Lenoir-Morganton, NC (#25860)
  • History of Changes
  • Pass Through Receivership Merger
    Conservatorship Institution Resolved
  • Financial Summary
  • Total assets: $63.5 mil

Assets and Liabilities (December 31, 1992)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $53Total assets
  • $69,791Cash and due from depository institutions
  • $50,973Interest-bearing balances
  • $47,380Securities
  • $5,935Federal funds sold & reverse repurchase agreements
  • $0Net loans & leases
  • $9,382Loan loss allowance
  • $227Trading account assets
  • $0Bank premises and fixed assets
  • $2,464Other real estate owned
  • $543Goodwill and other intangibles
  • $494Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $69,791Total liabilities
  • $74,472Total deposits
  • $74,167Interest-bearing deposits
  • $73,385Deposits held in domestic offices
  • 74167.00%% insured (estimated)
  • $100Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $305Total equity capital
  • $305Total bank equity capital
  • $-4,681Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $0Undivided profits
  • Memoranda
  • $-4,681Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $488Income earned, not collected on loans
  • $160Earning assets
  • $62,697Long-term assets (5+ years)
  • $0Average Assets, year-to-date
  • $99,225Average Assets, quarterly
  • $71,767Volatile liabilities
  • $859Insider loans
  • $0FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $325Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $-4,681Total risk weighted assets
  • $20,561Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1992)

  • Dollar figures in thousands
  • $0Total interest income
  • $5,798Total interest expense
  • $4,339Net interest income
  • $1,459Provision for loan and lease losses
  • -$194Total noninterest income
  • $2,001Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $0Additional noninterest income
  • $2,001Total noninterest expense
  • $5,535Salaries and employee benefits
  • $1,468Premises and equipment expense
  • $1,192Additional noninterest expense
  • $2,875Pre-tax net operating income
  • -$1,881Securities gains (losses)
  • $273Applicable income taxes
  • -$21Income before extraordinary items
  • -$1,587Extraordinary gains - net
  • -$21Net income attributable to bank
  • -$1,608Net charge-offs
  • -$128Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1992)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 6.92%Cost of funding earning assets
  • 5.18%Net interest margin
  • 1.74%Noninterest income to earning assets
  • 2.39%Noninterest expense to earning assets
  • 6.60%Net operating income to assets
  • -1.87%Return on assets (ROA)
  • -1.62%Pretax return on assets
  • -1.64%Return on equity (ROE)
  • 48.09%Retained earnings to average equity (YTD only)
  • 48.09%Net charge-offs to loans
  • -0.28%Credit loss provision to net charge-offs
  • 151.56%Efficiency ratio
  • 159,971Assets per employee
  • 1.32%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.36%Loss allowance to noncurrent loans
  • 46.52%Noncurrent assets plus other real estate owned to assets
  • 1.48%Noncurrent loans to loans
  • 5.08%Net loans and leases to deposits
  • 12.65%Net loans and leases to core deposits
  • 12.80%Equity capital to assets
  • -6.71%Core capital (leverage) ratio
  • -6.71%Tier 1 risk-based capital ratio
  • -22.77%Total risk-based capital ratio
  • Memoranda
  • -$23Average assets
  • $99,225Average earning assets
  • -$3,344Average equity
  • $83,824Average loans

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

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Surety Federal Savings and Loan Association, F.A..
Based on public records. Inadvertent errors are possible.
bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents