Atlantic Community Bank in Bluffton, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Atlantic Community Bank in Bluffton, South Carolina (SC)
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Atlantic Community Bank - Overview

  • General
  • FDIC Certificate #: 58075
    Status: Active
    Federal Reserve ID: 3393785
    Bank Holding Company (Regulatory Top Holder): Atlantic Bancshares, Inc. (RSSDID: 3393794, Location: Bluffton, SC)
    Date Established: January 26, 2006
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    FDIC's unique #: 438889
    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: January 26, 2006
    Last Structure Change Effective Date: July 21, 2008
    Last Structure Change Process Date: July 25, 2008
    Last Data Update: July 25, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 1 Sheridan Park Circle, Bluffton, SC 29910
    County: Beaufort
    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
    Core Based Statistical Area (CBSA): Hilton Head Island-Beaufort, SC (#25940)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Change in Location
  • Financial Summary
  • Total assets: $92.5 mil
    Equity capital: $6.5 mil
    Deposits held in domestic offices: $73.4 mil
    Return on assets (ROA): -1.28% (-$1.2 mil)
    Quarterly return on assets: -0.39% (-$0.4 mil)
    Return on Equity (ROE): -17.59% (-$1.2 mil)
    Quarterly return on equity: -5.37% (-$0.4 mil)
    Net income: -$1.2 mil
    Quarterly Net income: -$0.1 mil
    Pretax return on assets: -1.28% (-$1,184.4 mil)
    Quarterly Pretax return on assets: -0.39% (-$360.9 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
  • 16Total employees (full-time equivalent)
  • $92,534Total assets
  • $17,651Cash and due from depository institutions
  • $15,987Interest-bearing balances
  • $6,640Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $64,335Net loans & leases
  • $1,228Loan loss allowance
  • $0Trading account assets
  • $707Bank premises and fixed assets
  • $1,758Other real estate owned
  • $0Goodwill and other intangibles
  • $92,534Life insurance assets
  • $1,443All other assets
  • $85,985Total liabilities and capital
  • $73,357Total liabilities
  • $52,497Total deposits
  • $73,357Interest-bearing deposits
  • $94Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $12,250Trading liabilities
  • $0Other borrowed funds
  • $378Subordinated debt
  • $6,549All other liabilities
  • $6,549Total equity capital
  • $6,549Total bank equity capital
  • $0Perpetual preferred stock
  • $6,884Common stock
  • $6,884Surplus
  • $-7,219Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,609Income earned, not collected on loans
  • $0Earning assets
  • $245Long-term assets (5+ years)
  • $86,962Average Assets, year-to-date
  • $10,769Average Assets, quarterly
  • $93,268Volatile liabilities
  • $90,956Insider loans
  • $63,405FHLB advances
  • $91,538Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $6,225Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $5,255Restructured Loans and leases
  • $3,387Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,427Total interest income
  • $1,081Total interest expense
  • $3,346Net interest income
  • $1,864Provision for loan and lease losses
  • $232Total noninterest income
  • $0Fiduciary activities
  • $134Service charges on deposit accounts
  • $0Trading account gains & fees
  • $98Additional noninterest income
  • $2,907Total noninterest expense
  • $1,354Salaries and employee benefits
  • $470Premises and equipment expense
  • $1,083Additional noninterest expense
  • -$1,193Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • -$1,193Income before extraordinary items
  • $0Extraordinary gains - net
  • -$1,193Net income attributable to bank
  • $0Net charge-offs
  • -$1,193Cash dividends
  • $1,454Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.07%Yield on earning assets
  • 1.24%Cost of funding earning assets
  • 3.83%Net interest margin
  • 0.27%Noninterest income to earning assets
  • 3.33%Noninterest expense to earning assets
  • -1.28%Net operating income to assets
  • -1.28%Return on assets (ROA)
  • -1.28%Pretax return on assets
  • -17.59%Return on equity (ROE)
  • -17.59%Retained earnings to average equity (YTD only)
  • 2.12%Net charge-offs to loans
  • 128.20%Credit loss provision to net charge-offs
  • 0.46%Efficiency ratio
  • 81,247Assets per employee
  • 5.78%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.87%Loss allowance to noncurrent loans
  • 47.07%Noncurrent assets plus other real estate owned to assets
  • 4.72%Noncurrent loans to loans
  • 3.98%Net loans and leases to deposits
  • 87.70%Net loans and leases to core deposits
  • 101.37%Equity capital to assets
  • 7.08%Core capital (leverage) ratio
  • 6.80%Tier 1 risk-based capital ratio
  • 9.82%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $93,268Average earning assets
  • $6,781Average equity
  • $87,274Average loans

List of branches

  • 3 South Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0438889Atlantic Community Bank1 Sheridan Park Circle, Bluffton, SC 29910January 26, 2006Full Service Brick and Mortar
    1469484Hilton Head Branch1 Corpus Christi Place, Suite 108, Hilton Head Island, SC 29928October 26, 2007Full Service Brick and Mortar
    2478578Messenger Service1 Sheridan Park Circle, Bluffton, SC 29910July 02, 2007Limited Service Messenger

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