FDIC Certificate #: 12080 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Heritage Bank of the South (#50028) Federal Reserve ID: 644936 Date Established: October 22, 1900 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Interstate: No) OTS Docket #: 14034 FDIC's unique #: 7677 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: January 01, 1934 Last Structure Change Effective Date: December 04, 2009 Last Structure Change Process Date: December 07, 2009 Last Data Update: December 07, 2009 Data Source Date: April 05, 2012
Location
Address: 104 West Main Street, Reidsville, GA 30453 County: Tattnall Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Savannah Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast
Financial Summary
Total assets: $49.6 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2008)
Dollar figures in thousands
24Total employees (full-time equivalent)
$67,082Total assets
$2,341Cash and due from depository institutions
$317Interest-bearing balances
$11,117Securities
$3,464Federal funds sold & reverse repurchase agreements
$44,789Net loans & leases
$1,600Loan loss allowance
$0Trading account assets
$1,184Bank premises and fixed assets
$2,880Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,307All other assets
$67,082Total liabilities and capital
$63,949Total liabilities
$61,918Total deposits
$56,384Interest-bearing deposits
$61,918Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$1,395Other borrowed funds
$0Subordinated debt
$636All other liabilities
$3,133Total equity capital
$3,133Total bank equity capital
$3,133Perpetual preferred stock
$0Common stock
$800Surplus
$4,165Undivided profits
Memoranda
$-1,832Noncurrent loans and leases
$1,863Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$2,985Earning assets
$0Long-term assets (5+ years)
$887Average Assets, year-to-date
$59,687Average Assets, quarterly
$12,164Volatile liabilities
$68,540Insider loans
$69,253FHLB advances
$16,165Loans and leases held for sale
$3,640Unused loan commitments
$1,395Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$1,863Total unused commitments
$0Restructured Loans and leases
$662Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$4,644Total interest income
$2,346Total interest expense
$2,298Net interest income
$1,516Provision for loan and lease losses
$353Total noninterest income
$0Fiduciary activities
$428Service charges on deposit accounts
$0Trading account gains & fees
-$75Additional noninterest income
$2,525Total noninterest expense
$1,546Salaries and employee benefits
$259Premises and equipment expense
$720Additional noninterest expense
-$1,390Pre-tax net operating income
$12Securities gains (losses)
$0Applicable income taxes
-$1,378Income before extraordinary items
-$280Extraordinary gains - net
-$1,658Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$1,004Sale, conversion, retirement of capital stock, net
$200Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.54%Yield on earning assets
3.81%Cost of funding earning assets
3.73%Net interest margin
0.57%Noninterest income to earning assets
4.10%Noninterest expense to earning assets
-2.03%Net operating income to assets
-2.42%Return on assets (ROA)
-2.42%Pretax return on assets
-39.40%Return on equity (ROE)
-44.15%Retained earnings to average equity (YTD only)
2.01%Net charge-offs to loans
151.00%Credit loss provision to net charge-offs
0.13%Efficiency ratio
95,247Assets per employee
2.80%Cash dividends to net income (YTD only)
Condition Ratios (%)
-12.06%Loss allowance to loans
3.45%Loss allowance to noncurrent loans
53.60%Noncurrent assets plus other real estate owned to assets
8.74%Noncurrent loans to loans
6.43%Net loans and leases to deposits
72.34%Net loans and leases to core deposits
97.89%Equity capital to assets
4.67%Core capital (leverage) ratio
4.41%Tier 1 risk-based capital ratio
5.87%Total risk-based capital ratio
Memoranda
$7Average assets
$68,540Average earning assets
$4,208Average equity
$61,610Average loans
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