FDIC Certificate #: 32571 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Bank of the Ozarks (#110) Federal Reserve ID: 75174 Date Established: November 04, 1987 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) OTS Docket #: 8464 FDIC's unique #: 45405 Numeric code: 33 Regulator: OTS Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes State Chartered: No Date of Deposit Insurance: November 04, 1987 Last Structure Change Effective Date: July 16, 2010 Last Structure Change Process Date: July 19, 2010 Last Data Update: July 19, 2010 Data Source Date: April 05, 2012
Location
Address: 27 Towne Drive, Bluffton, SC 29910 County: Beaufort Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Dallas FDIC Field Office: Columbia Sc Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Southeast Core Based Statistical Area (CBSA): Hilton Head Island-Beaufort, SC (#25940) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $382.8 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2009)
Dollar figures in thousands
45Total employees (full-time equivalent)
$387,972Total assets
$2,262Cash and due from depository institutions
$597Interest-bearing balances
$22,822Securities
$56,091Federal funds sold & reverse repurchase agreements
$289,603Net loans & leases
$8,440Loan loss allowance
$0Trading account assets
$2,908Bank premises and fixed assets
$7,066Other real estate owned
$3,214Goodwill and other intangibles
$0Life insurance assets
$4,006All other assets
$387,972Total liabilities and capital
$371,124Total liabilities
$348,695Total deposits
$344,045Interest-bearing deposits
$348,695Deposits held in domestic offices
97.83%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$21,500Other borrowed funds
$0Subordinated debt
$929All other liabilities
$16,848Total equity capital
$16,848Total bank equity capital
$16,848Perpetual preferred stock
$0Common stock
$1Surplus
$44,429Undivided profits
Memoranda
$-27,582Noncurrent loans and leases
$5,113Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$17,974Earning assets
$0Long-term assets (5+ years)
$1,525Average Assets, year-to-date
$369,113Average Assets, quarterly
$0Volatile liabilities
$370,747Insider loans
$381,696FHLB advances
$62,882Loans and leases held for sale
$2,348Unused loan commitments
$21,500Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$5,113Total unused commitments
$16,219Restructured Loans and leases
$3,534Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$19,678Total interest income
$9,842Total interest expense
$9,836Net interest income
$9,312Provision for loan and lease losses
$269Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$269Additional noninterest income
$12,225Total noninterest expense
$5,003Salaries and employee benefits
$3,389Premises and equipment expense
$3,833Additional noninterest expense
-$11,432Pre-tax net operating income
$129Securities gains (losses)
$0Applicable income taxes
-$11,303Income before extraordinary items
$0Extraordinary gains - net
-$11,303Net income attributable to bank
$0Net charge-offs
-$11,303Cash dividends
$3,916Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.74%Yield on earning assets
2.87%Cost of funding earning assets
2.87%Net interest margin
0.08%Noninterest income to earning assets
3.56%Noninterest expense to earning assets
-3.08%Net operating income to assets
-3.05%Return on assets (ROA)
-3.05%Pretax return on assets
-47.41%Return on equity (ROE)
-47.41%Retained earnings to average equity (YTD only)
1.25%Net charge-offs to loans
237.79%Credit loss provision to net charge-offs
-0.54%Efficiency ratio
120,317Assets per employee
8.62%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.83%Loss allowance to noncurrent loans
46.96%Noncurrent assets plus other real estate owned to assets
6.45%Noncurrent loans to loans
6.03%Net loans and leases to deposits
83.05%Net loans and leases to core deposits
94.24%Equity capital to assets
4.34%Core capital (leverage) ratio
3.57%Tier 1 risk-based capital ratio
4.86%Total risk-based capital ratio
Memoranda
$6Average assets
$370,747Average earning assets
$23,841Average equity
$343,061Average loans
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