Atlantic Bank and Trust in Charleston, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 03, 2011

  • Atlantic Bank and Trust in Charleston, South Carolina (SC)
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Atlantic Bank and Trust - Overview

  • General
  • FDIC Certificate #: 58420
    Status: Inactive
    Closing history: Absorption - Assisted
    Acquiring institution: First Citizens Bank and Trust Company, Inc. (#15504)
    Federal Reserve ID: 3488962
    Date Established: Febuary 20, 2007
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 18016
    FDIC's unique #: 451398
    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: Febuary 20, 2007
    Last Structure Change Effective Date: June 03, 2011
    Last Structure Change Process Date: June 06, 2011
    Last Data Update: June 06, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 152 East Bay Street, Charleston, SC 29401
    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: $208.2 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, 2010)

  • Dollar figures in thousands
  • 66Total employees (full-time equivalent)
  • $239,202Total assets
  • $57,199Cash and due from depository institutions
  • $56,760Interest-bearing balances
  • $11,180Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $159,939Net loans & leases
  • $2,661Loan loss allowance
  • $0Trading account assets
  • $7,520Bank premises and fixed assets
  • $200Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $3,164All other assets
  • $239,202Total liabilities and capital
  • $232,015Total liabilities
  • $213,876Total deposits
  • $204,499Interest-bearing deposits
  • $213,876Deposits held in domestic offices
  • 95.34%% insured (estimated)
  • $2,228Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $15,000Other borrowed funds
  • $0Subordinated debt
  • $911All other liabilities
  • $7,187Total equity capital
  • $7,187Total bank equity capital
  • $7,187Perpetual preferred stock
  • $0Common stock
  • $3,510Surplus
  • $33,929Undivided profits
  • Memoranda
  • $-30,252Noncurrent loans and leases
  • $1,192Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $46,978Earning assets
  • $0Long-term assets (5+ years)
  • $688Average Assets, year-to-date
  • $227,879Average Assets, quarterly
  • $0Volatile liabilities
  • $266,143Insider loans
  • $253,737FHLB advances
  • $39,745Loans and leases held for sale
  • $736Unused loan commitments
  • $15,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $1,192Total unused commitments
  • $73Restructured Loans and leases
  • $1,864Derivatives

Income and Expense (December 31, 2010)

  • Dollar figures in thousands
  • $10,333Total interest income
  • $3,889Total interest expense
  • $6,444Net interest income
  • $13,703Provision for loan and lease losses
  • $1,084Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,084Additional noninterest income
  • $13,982Total noninterest expense
  • $6,741Salaries and employee benefits
  • $2,174Premises and equipment expense
  • $5,067Additional noninterest expense
  • -$20,157Pre-tax net operating income
  • $2,519Securities gains (losses)
  • $0Applicable income taxes
  • -$17,638Income before extraordinary items
  • $0Extraordinary gains - net
  • -$17,638Net income attributable to bank
  • $0Net charge-offs
  • -$17,638Cash dividends
  • $12,697Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2010)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.08%Yield on earning assets
  • 1.54%Cost of funding earning assets
  • 2.54%Net interest margin
  • 0.43%Noninterest income to earning assets
  • 5.52%Noninterest expense to earning assets
  • -7.57%Net operating income to assets
  • -6.63%Return on assets (ROA)
  • -6.63%Pretax return on assets
  • -110.69%Return on equity (ROE)
  • -110.69%Retained earnings to average equity (YTD only)
  • 7.14%Net charge-offs to loans
  • 107.92%Credit loss provision to net charge-offs
  • -0.51%Efficiency ratio
  • 185,733Assets per employee
  • 3.62%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.64%Loss allowance to noncurrent loans
  • 5.66%Noncurrent assets plus other real estate owned to assets
  • 19.72%Noncurrent loans to loans
  • 28.89%Net loans and leases to deposits
  • 74.78%Net loans and leases to core deposits
  • 83.58%Equity capital to assets
  • 3.00%Core capital (leverage) ratio
  • 2.99%Tier 1 risk-based capital ratio
  • 4.80%Total risk-based capital ratio
  • Memoranda
  • $6Average assets
  • $266,143Average earning assets
  • $15,935Average equity
  • $253,245Average loans

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