FDIC Certificate #: 17459 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Waccamaw Bank (#34515) Federal Reserve ID: 344423 Date Established: March 01, 1936 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 11448 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: July 01, 1955 Last Structure Change Effective Date: April 29, 2006 Last Structure Change Process Date: June 06, 2006 Last Data Update: June 06, 2006 Data Source Date: April 05, 2012
Location
Address: Main And Caston Streets (N.W.), Heath Springs, SC 29058 County: Lancaster 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): Charlotte-Gastonia-Salisbury, NC-SC (#172) Core Based Statistical Area (CBSA): Lancaster, SC (#29580) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $20.1 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2005)
Dollar figures in thousands
7Total employees (full-time equivalent)
$19,826Total assets
$686Cash and due from depository institutions
$100Interest-bearing balances
$8,300Securities
$5,024Federal funds sold & reverse repurchase agreements
$5,561Net loans & leases
$46Loan loss allowance
$0Trading account assets
$125Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$130All other assets
$19,826Total liabilities and capital
$14,270Total liabilities
$14,165Total deposits
$10,719Interest-bearing deposits
$14,165Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$88Other borrowed funds
$0Subordinated debt
$17All other liabilities
$5,556Total equity capital
$5,556Total bank equity capital
$5,556Perpetual preferred stock
$0Common stock
$50Surplus
$2,000Undivided profits
Memoranda
$3,506Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$0Earning assets
$0Long-term assets (5+ years)
$130Average Assets, year-to-date
$18,985Average Assets, quarterly
$3,439Volatile liabilities
$20,136Insider loans
$19,934FHLB advances
$629Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$126Restructured Loans and leases
$46Derivatives
Income and Expense (December 31, 2005)
Dollar figures in thousands
$897Total interest income
$90Total interest expense
$807Net interest income
$0Provision for loan and lease losses
$22Total noninterest income
$0Fiduciary activities
$19Service charges on deposit accounts
$0Trading account gains & fees
$3Additional noninterest income
$523Total noninterest expense
$333Salaries and employee benefits
$51Premises and equipment expense
$139Additional noninterest expense
$306Pre-tax net operating income
$0Securities gains (losses)
$13Applicable income taxes
$293Income before extraordinary items
$0Extraordinary gains - net
$293Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$5Sale, conversion, retirement of capital stock, net
$140Net operating income
Performance and Condition Ratios (December 31, 2005)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.65%Yield on earning assets
0.47%Cost of funding earning assets
4.18%Net interest margin
0.11%Noninterest income to earning assets
2.71%Noninterest expense to earning assets
1.46%Net operating income to assets
1.46%Return on assets (ROA)
1.52%Pretax return on assets
5.37%Return on equity (ROE)
2.81%Retained earnings to average equity (YTD only)
0.09%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
61.20%Efficiency ratio
63,088Assets per employee
2.83%Cash dividends to net income (YTD only)
Condition Ratios (%)
47.78%Loss allowance to loans
0.82%Loss allowance to noncurrent loans
0.00%Noncurrent assets plus other real estate owned to assets
0.00%Noncurrent loans to loans
0.00%Net loans and leases to deposits
39.26%Net loans and leases to core deposits
40.82%Equity capital to assets
28.02%Core capital (leverage) ratio
27.91%Tier 1 risk-based capital ratio
68.02%Total risk-based capital ratio
Memoranda
$69Average assets
$20,136Average earning assets
$5,454Average equity
$19,307Average loans
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