FDIC Certificate #: 58711 Status: Active Federal Reserve ID: 3719620 Bank Holding Company (Regulatory Top Holder): Verity Capital Group, Inc. (RSSDID: 3719611, Location: Winder, GA) Date Established: October 27, 2008 WWW:http://www.veritybank.net Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Domestic: 1, Interstate: No) FDIC's unique #: 463471 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: October 27, 2008 Last Structure Change Effective Date: October 27, 2008 Last Structure Change Process Date: October 27, 2008 Last Data Update: October 27, 2008 Data Source Date: April 05, 2012
Location
Address: 94 West Athens Street, Winder, GA 30680 County: Barrow Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Atlanta Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast Metropolitan Statistical Area (MSA): Atlanta, GA (#520) Combined Statistical Area (CSA): Atlanta-Sandy Springs-Gainesville, GA-AL (#122) Core Based Statistical Area (CBSA): Atlanta-Sandy Springs-Marietta, GA (#12060) CBSA Metro Statistical Area: Atlanta-Sandy Springs-Marietta, GA (#12060)
History of Changes
Change in Geographic Region/Area/Territory/Field Office
New Institution
Financial Summary
Total assets: $158.8 mil Equity capital: $15.4 mil Deposits held in domestic offices: $140.0 mil Return on assets (ROA): 0.10% ($0.2 mil) Quarterly return on assets: -1.01% (-$1.6 mil) Return on Equity (ROE): 0.91% ($0.1 mil) Quarterly return on equity: -9.88% (-$1.5 mil) Net income: $0.1 mil Quarterly Net income: -$0.4 mil Pretax return on assets: 0.10% ($158.8 mil) Quarterly Pretax return on assets: -1.01% (-$1,603.9 mil)
2000 - 2011 Historical total assets, liabilities and capital ($ 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
26Total employees (full-time equivalent)
$158,805Total assets
$25,279Cash and due from depository institutions
$24,643Interest-bearing balances
$23,783Securities
$2,625Federal funds sold & reverse repurchase agreements
$101,498Net loans & leases
$1,762Loan loss allowance
$0Trading account assets
$4,024Bank premises and fixed assets
$23Other real estate owned
$670Goodwill and other intangibles
$158,804Life insurance assets
$903All other assets
$143,434Total liabilities and capital
$140,038Total liabilities
$117,242Total deposits
$140,038Interest-bearing deposits
$79Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$3,000Trading liabilities
$0Other borrowed funds
$396Subordinated debt
$15,370All other liabilities
$15,370Total equity capital
$15,370Total bank equity capital
$0Perpetual preferred stock
$10,715Common stock
$11,161Surplus
$-6,506Undivided profits
Memoranda
$0Noncurrent loans and leases
$1,747Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$0Earning assets
$440Long-term assets (5+ years)
$152,549Average Assets, year-to-date
$24,265Average Assets, quarterly
$137,763Volatile liabilities
$152,402Insider loans
$103,992FHLB advances
$149,668Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$15,188Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$12,718Restructured Loans and leases
$1,198Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$5,750Total interest income
$1,407Total interest expense
$4,343Net interest income
$964Provision for loan and lease losses
$1,188Total noninterest income
$0Fiduciary activities
$33Service charges on deposit accounts
$0Trading account gains & fees
$1,155Additional noninterest income
$4,482Total noninterest expense
$3,086Salaries and employee benefits
$326Premises and equipment expense
$1,070Additional noninterest expense
$85Pre-tax net operating income
$54Securities gains (losses)
$0Applicable income taxes
$139Income before extraordinary items
$0Extraordinary gains - net
$139Net income attributable to bank
$0Net charge-offs
$139Cash dividends
$80Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.37%Yield on earning assets
1.07%Cost of funding earning assets
3.30%Net interest margin
0.90%Noninterest income to earning assets
3.40%Noninterest expense to earning assets
0.06%Net operating income to assets
0.10%Return on assets (ROA)
0.10%Pretax return on assets
0.91%Return on equity (ROE)
0.91%Retained earnings to average equity (YTD only)
0.09%Net charge-offs to loans
1205.00%Credit loss provision to net charge-offs
13.11%Efficiency ratio
81,034Assets per employee
6.11%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.71%Loss allowance to noncurrent loans
0.00%Noncurrent assets plus other real estate owned to assets
0.01%Noncurrent loans to loans
0.00%Net loans and leases to deposits
72.48%Net loans and leases to core deposits
77.58%Equity capital to assets
9.68%Core capital (leverage) ratio
10.15%Tier 1 risk-based capital ratio
14.60%Total risk-based capital ratio
Memoranda
$16Average assets
$137,763Average earning assets
$15,196Average equity
$131,719Average loans
List of branches
1 Georgia Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
463471
Verity Bank
94 West Athens Street, Winder, GA 30680
October 27, 2008
Full Service Brick and Mortar
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