Bank of Commerce in Charlotte, North Carolina (NC)

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Bank of Commerce
GeneralFDIC Certificate #: 58134
Status: Active
Federal Reserve ID: 3377374
Date Established: Febuary 07, 2006
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Domestic: 1, Interstate: No)
FDIC's unique #: 440378
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: Febuary 07, 2006
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 100 Queens Road, Charlotte, NC 28204
County: Mecklenburg
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Charlotte
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Charlotte-Gastonia-Rock Hill, NC-SC (#1520)
Combined Statistical Area (CSA): Charlotte-Gastonia-Salisbury, NC-SC (#172)
Core Based Statistical Area (CBSA): Charlotte-Gastonia-Rock Hill, NC-SC (#16740)
CBSA Metro Statistical Area: Charlotte-Gastonia-Rock Hill, NC-SC (#16740)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $145.2 mil
Equity capital: $12.5 mil
Deposits held in domestic offices: $100.1 mil
Return on assets (ROA): -1.07% (-$1.6 mil)
Quarterly return on assets: -2.25% (-$3.3 mil)
Return on Equity (ROE): -12.77% (-$1.7 mil)
Quarterly return on equity: -25.89% (-$3.4 mil)
Net income: -$1.7 mil
Quarterly Net income: -$0.8 mil
Pretax return on assets: -1.07% (-$1,553.9 mil)
Quarterly Pretax return on assets: -2.25% (-$3,267.6 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)
Total employees (full-time equivalent)16
Total assets$145,228
Cash and due from depository institutions$8,149
Interest-bearing balances$7,023
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$95,156
Loan loss allowance $2,099
Trading account assets$0
Bank premises and fixed assets$299
Other real estate owned$2,075
Goodwill and other intangibles$0
All other assets$6,506
Life insurance assets$145,228
Total liabilities and capital$132,698
Total liabilities$100,147
Total deposits$90,748
Interest-bearing deposits$100,147
Deposits held in domestic offices$91
% insured (estimated)16672.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$15,000
Other borrowed funds $0
Subordinated debt $879
All other liabilities $12,530
Total equity capital$12,530
Total bank equity capital$12,530
Perpetual preferred stock$3,150
Common stock$4,000
Undivided profits $-8,685
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $4,153
Earning assets $0
Long-term assets (5+ years) $423
Average Assets, year-to-date $135,222
Average Assets, quarterly $31,192
Volatile liabilities $161,275
Insider loans $149,093
FHLB advances $112,227
Loans and leases held for sale $148,547
Unused loan commitments $4,390
Tier 1 (core) risk-based capital $4,390
Tier 2 risk-based capital $12,239
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $8,877
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $6,608
Total interest expense $1,995
Net interest income $4,613
Provision for loan and lease losses $2,024
Total noninterest income -$685
Fiduciary activities $0
Service charges on deposit accounts $79
Trading account gains & fees $0
Additional noninterest income -$764
Total noninterest expense $4,101
Salaries and employee benefits $1,972
Premises and equipment expense $422
Additional noninterest expense $1,707
Pre-tax net operating income -$2,197
Securities gains (losses) $472
Applicable income taxes $0
Income before extraordinary items -$1,725
Extraordinary gains - net $0
Net income attributable to bank -$1,725
Net charge-offs $0
Cash dividends -$1,725
Sale, conversion, retirement of capital stock, net $2,006
Net operating income $58
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.49%
Cost of funding earning assets 1.35%
Net interest margin 3.13%
Noninterest income to earning assets -0.47%
Noninterest expense to earning assets 2.79%
Net operating income to assets -1.36%
Return on assets (ROA) -1.07%
Pretax return on assets -1.07%
Return on equity (ROE) -12.77%
Retained earnings to average equity (YTD only) -13.20%
Net charge-offs to loans 1.87%
Credit loss provision to net charge-offs 100.90%
Efficiency ratio-0.09%
Assets per employee$104,404
Cash dividends to net income (YTD only)9.08%
Condition Ratios (%)
Loss allowance to loans -3.36%
Loss allowance to noncurrent loans 2.16%
Noncurrent assets plus other real estate owned to assets 50.54%
Noncurrent loans to loans 4.29%
Net loans and leases to deposits4.27%
Net loans and leases to core deposits 95.02%
Equity capital to assets 108.64%
Core capital (leverage) ratio 8.63%
Tier 1 risk-based capital ratio 8.24%
Total risk-based capital ratio 10.91%
Average assets$12
Average earning assets$161,275
Average equity $13,507
Average loans $147,235
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1 North Carolina Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0440378Bank Of Commerce100 Queens Road, Charlotte, NC 28204Febuary 07, 2006Full Service Brick and Mortar
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