Wachovia Bank of South Carolina, National Association in Charleston, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 01, 1997

  • Wachovia Bank of South Carolina, National Association in Charleston, South Carolina (SC)
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Wachovia Bank of South Carolina, National Association - Overview

  • General
  • FDIC Certificate #: 2098
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Wachovia Bank, National Association (#817)
    Federal Reserve ID: 160324
    Date Established: January 01, 1834
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 139 (Interstate: No)
    FDIC's unique #: 1382
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Oakar Institutions: Yes
    State Chartered: No
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: June 01, 1997
    Last Structure Change Process Date: June 19, 1997
    Last Data Update: June 19, 1997
    Data Source Date: April 05, 2012
  • Location
  • Address: 16 Broad Street, Charleston, SC 29402
    County: Charleston
    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
    Metropolitan Statistical Area (MSA): Charleston-North Charleston, SC (#1440)
    Core Based Statistical Area (CBSA): Charleston-North Charleston-Summerville, SC (#16700)
    CBSA Metro Statistical Area: Charleston-North Charleston-Summerville, SC (#16700)
  • Financial Summary
  • Total assets: $7,276.8 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $2,203Total assets
  • $7,326,969Cash and due from depository institutions
  • $638,361Interest-bearing balances
  • $0Securities
  • $1,313,541Federal funds sold & reverse repurchase agreements
  • $1,583,537Net loans & leases
  • $3,420,768Loan loss allowance
  • $42,011Trading account assets
  • $12,595Bank premises and fixed assets
  • $135,986Other real estate owned
  • $6,074Goodwill and other intangibles
  • $210,614Life insurance assets
  • $5,493All other assets
  • $0Total liabilities and capital
  • $7,326,969Total liabilities
  • $6,820,740Total deposits
  • $5,594,435Interest-bearing deposits
  • $4,615,221Deposits held in domestic offices
  • 5435042.00%% insured (estimated)
  • $80Federal funds purchased & repurchase agreements
  • $1,058,216Trading liabilities
  • $187Other borrowed funds
  • $53,862Subordinated debt
  • $1,395All other liabilities
  • $112,645Total equity capital
  • $112,645Total bank equity capital
  • $506,229Perpetual preferred stock
  • $0Common stock
  • $8,399Surplus
  • $128,717Undivided profits
  • Memoranda
  • $369,113Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $15,378Income earned, not collected on loans
  • $25,960Earning assets
  • $6,330,425Long-term assets (5+ years)
  • $1,011,261Average Assets, year-to-date
  • $7,297,363Average Assets, quarterly
  • $7,318,743Volatile liabilities
  • $1,527,352Insider loans
  • $107,564FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $1,694,072Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $492,296Total risk weighted assets
  • $4,480,841Total unused commitments
  • $0Restructured Loans and leases
  • $121,115Derivatives

Income and Expense (December 31, 1996)

  • Dollar figures in thousands
  • $0Total interest income
  • $483,443Total interest expense
  • $244,691Net interest income
  • $238,752Provision for loan and lease losses
  • -$30,972Total noninterest income
  • $125,356Fiduciary activities
  • $22,712Service charges on deposit accounts
  • $48,915Trading account gains & fees
  • $1,372Additional noninterest income
  • $52,357Total noninterest expense
  • $234,777Salaries and employee benefits
  • $82,014Premises and equipment expense
  • $29,415Additional noninterest expense
  • $123,348Pre-tax net operating income
  • $160,303Securities gains (losses)
  • $231Applicable income taxes
  • $54,196Income before extraordinary items
  • $106,338Extraordinary gains - net
  • $0Net income attributable to bank
  • $106,338Net charge-offs
  • -$652Cash dividends
  • $160,200Sale, conversion, retirement of capital stock, net
  • $311Net operating income

Performance and Condition Ratios (December 31, 1996)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 7.35%Cost of funding earning assets
  • 3.72%Net interest margin
  • 3.63%Noninterest income to earning assets
  • 1.90%Noninterest expense to earning assets
  • 3.57%Net operating income to assets
  • 1.46%Return on assets (ROA)
  • 1.46%Pretax return on assets
  • 2.20%Return on equity (ROE)
  • 20.05%Retained earnings to average equity (YTD only)
  • -10.16%Net charge-offs to loans
  • -0.02%Credit loss provision to net charge-offs
  • 4750.31%Efficiency ratio
  • 64,072Assets per employee
  • 3.33%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 150.65%Loss allowance to loans
  • 1.21%Loss allowance to noncurrent loans
  • 273.19%Noncurrent assets plus other real estate owned to assets
  • 0.29%Noncurrent loans to loans
  • 0.44%Net loans and leases to deposits
  • 61.15%Net loans and leases to core deposits
  • 66.10%Equity capital to assets
  • 6.91%Core capital (leverage) ratio
  • 6.80%Tier 1 risk-based capital ratio
  • 10.99%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $7,297,363Average earning assets
  • $530,383Average equity
  • $6,581,232Average loans

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