FDIC Certificate #: 57943 Status: Inactive Closing history: Corrections Acquiring institution:Bank of North Georgia (#31203) Federal Reserve ID: 3346286 Date Established: August 30, 2005 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) FDIC's unique #: 432255 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: August 30, 2005 Last Structure Change Effective Date: April 24, 2009 Last Structure Change Process Date: April 27, 2009 Last Data Update: April 27, 2009 Data Source Date: April 05, 2012
Location
Address: 745 Chastain Road, Kennesaw, GA 30144 County: Cobb 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
Absorption - Assisted
Corrections
Financial Summary
Total assets: $106.0 mil
2000 - 2011 Historical total assets, liabilities and capital ($ 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
14Total employees (full-time equivalent)
$110,070Total assets
$3,000Cash and due from depository institutions
$2,287Interest-bearing balances
$9,286Securities
$22,102Federal funds sold & reverse repurchase agreements
$63,886Net loans & leases
$817Loan loss allowance
$0Trading account assets
$4,812Bank premises and fixed assets
$6,078Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$906All other assets
$110,070Total liabilities and capital
$102,540Total liabilities
$102,124Total deposits
$99,322Interest-bearing deposits
$102,124Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$416All other liabilities
$7,530Total equity capital
$7,530Total bank equity capital
$7,530Perpetual preferred stock
$0Common stock
$6,250Surplus
$6,860Undivided profits
Memoranda
$-5,580Noncurrent loans and leases
$11,354Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$7,956Earning assets
$0Long-term assets (5+ years)
$369Average Assets, year-to-date
$97,561Average Assets, quarterly
$9,541Volatile liabilities
$85,009Insider loans
$105,249FHLB advances
$15,821Loans and leases held for sale
$37Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$11,354Total unused commitments
$0Restructured Loans and leases
$817Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$3,878Total interest income
$3,021Total interest expense
$857Net interest income
$1,271Provision for loan and lease losses
-$29Total noninterest income
$0Fiduciary activities
$3Service charges on deposit accounts
$0Trading account gains & fees
-$32Additional noninterest income
$3,068Total noninterest expense
$1,385Salaries and employee benefits
$436Premises and equipment expense
$1,247Additional noninterest expense
-$3,511Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
-$3,511Income before extraordinary items
$0Extraordinary gains - net
-$3,511Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$1,987Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.03%Yield on earning assets
3.92%Cost of funding earning assets
1.11%Net interest margin
-0.04%Noninterest income to earning assets
3.98%Noninterest expense to earning assets
-4.13%Net operating income to assets
-4.13%Return on assets (ROA)
-4.13%Pretax return on assets
-38.22%Return on equity (ROE)
-38.22%Retained earnings to average equity (YTD only)
3.34%Net charge-offs to loans
63.97%Credit loss provision to net charge-offs
-1.13%Efficiency ratio
370,531Assets per employee
7.86%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.26%Loss allowance to noncurrent loans
10.27%Noncurrent assets plus other real estate owned to assets
12.75%Noncurrent loans to loans
12.30%Net loans and leases to deposits
62.56%Net loans and leases to core deposits
74.03%Equity capital to assets
6.84%Core capital (leverage) ratio
7.40%Tier 1 risk-based capital ratio
8.38%Total risk-based capital ratio
Memoranda
$9Average assets
$85,009Average earning assets
$9,187Average equity
$77,103Average loans
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