The Bank of Asheville in Asheville, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of January 21, 2011

  • The Bank of Asheville in Asheville, North Carolina (NC)
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The Bank of Asheville - Overview

  • General
  • FDIC Certificate #: 34516
    Status: Inactive
    Closing history: Absorption - Assisted
    Acquiring institution: First Bank (#15019)
    Federal Reserve ID: 2635077
    Date Established: December 01, 1997
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 5 (Interstate: No)
    OTS Docket #: 15990
    FDIC's unique #: 59023
    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: December 01, 1997
    Last Structure Change Effective Date: January 21, 2011
    Last Structure Change Process Date: January 25, 2011
    Last Data Update: January 25, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 79 Woodfin Place, Asheville, NC 28801
    County: Buncombe
    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): Asheville, NC (#480)
    Combined Statistical Area (CSA): Asheville-Brevard, NC (#120)
    Core Based Statistical Area (CBSA): Asheville, NC (#11700)
    CBSA Metro Statistical Area: Asheville, NC (#11700)
  • Financial Summary
  • Total assets: $204.9 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, 2010)

  • Dollar figures in thousands
  • 56Total employees (full-time equivalent)
  • $204,925Total assets
  • $33,868Cash and due from depository institutions
  • $30,475Interest-bearing balances
  • $9,449Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $152,026Net loans & leases
  • $8,537Loan loss allowance
  • $0Trading account assets
  • $2,656Bank premises and fixed assets
  • $2,736Other real estate owned
  • $0Goodwill and other intangibles
  • $405Life insurance assets
  • $4,190All other assets
  • $204,925Total liabilities and capital
  • $204,379Total liabilities
  • $199,394Total deposits
  • $177,850Interest-bearing deposits
  • $199,394Deposits held in domestic offices
  • 99.08%% insured (estimated)
  • $15Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $4,000Other borrowed funds
  • $0Subordinated debt
  • $970All other liabilities
  • $546Total equity capital
  • $546Total bank equity capital
  • $546Perpetual preferred stock
  • $0Common stock
  • $6Surplus
  • $11,656Undivided profits
  • Memoranda
  • $-11,116Noncurrent loans and leases
  • $13,158Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $37,446Earning assets
  • $229Long-term assets (5+ years)
  • $860Average Assets, year-to-date
  • $191,950Average Assets, quarterly
  • $14,112Volatile liabilities
  • $212,350Insider loans
  • $199,991FHLB advances
  • $39,878Loans and leases held for sale
  • $1,642Unused loan commitments
  • $4,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $13,158Total unused commitments
  • $4,140Restructured Loans and leases
  • $639Derivatives

Income and Expense (December 31, 2010)

  • Dollar figures in thousands
  • $9,810Total interest income
  • $2,848Total interest expense
  • $6,962Net interest income
  • $19,153Provision for loan and lease losses
  • $1,518Total noninterest income
  • $0Fiduciary activities
  • $927Service charges on deposit accounts
  • $0Trading account gains & fees
  • $591Additional noninterest income
  • $8,815Total noninterest expense
  • $3,348Salaries and employee benefits
  • $841Premises and equipment expense
  • $4,626Additional noninterest expense
  • -$19,488Pre-tax net operating income
  • $597Securities gains (losses)
  • $454Applicable income taxes
  • -$19,345Income before extraordinary items
  • $0Extraordinary gains - net
  • -$19,345Net income attributable to bank
  • $0Net charge-offs
  • -$19,345Cash dividends
  • $14,128Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2010)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.96%Yield on earning assets
  • 1.44%Cost of funding earning assets
  • 3.52%Net interest margin
  • 0.77%Noninterest income to earning assets
  • 4.46%Noninterest expense to earning assets
  • -9.39%Net operating income to assets
  • -9.11%Return on assets (ROA)
  • -8.90%Pretax return on assets
  • -199.81%Return on equity (ROE)
  • -199.81%Retained earnings to average equity (YTD only)
  • 8.16%Net charge-offs to loans
  • 135.57%Credit loss provision to net charge-offs
  • -0.02%Efficiency ratio
  • 103,950Assets per employee
  • 3.66%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 5.32%Loss allowance to noncurrent loans
  • 22.80%Noncurrent assets plus other real estate owned to assets
  • 19.61%Noncurrent loans to loans
  • 23.32%Net loans and leases to deposits
  • 76.24%Net loans and leases to core deposits
  • 95.30%Equity capital to assets
  • 0.27%Core capital (leverage) ratio
  • 0.31%Tier 1 risk-based capital ratio
  • 0.41%Total risk-based capital ratio
  • Memoranda
  • $1Average assets
  • $212,350Average earning assets
  • $9,682Average equity
  • $197,841Average loans

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