Bank of Mecklenburg in Charlotte, North Carolina (NC)



Show street view No street view available for this location
Table of contents:
Bank of Mecklenburg
GeneralFDIC Certificate #: 27553
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: RBC Bank (USA) (#33184)
Federal Reserve ID: 1400157
Date Established: July 12, 1989
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 3 (Interstate: No)
OTS Docket #: 10535
FDIC's unique #: 40333
Numeric code: 13
Regulator: FED
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
Oakar Institutions: Yes
State Chartered: Yes
Date of Deposit Insurance: July 12, 1989
Last Structure Change Effective Date: Febuary 19, 2000
Last Structure Change Process Date: May 11, 2000
Last Data Update: May 11, 2000
Data Source Date: April 05, 2012
LocationAddress: 2000 Randolph Road, Charlotte, NC 28207
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)
Financial SummaryTotal assets: $265.6 mil

1992 - 1999 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, 1999)
(Dollar figures in thousands)
Total employees (full-time equivalent)24
Total assets$265,559
Cash and due from depository institutions$9,036
Interest-bearing balances$2,546
Securities$62,818
Federal funds sold & reverse repurchase agreements$15,840
Net loans & leases$163,159
Loan loss allowance $2,195
Trading account assets$0
Bank premises and fixed assets$5,950
Other real estate owned$0
Goodwill and other intangibles$492
All other assets$8,264
Life insurance assets$0
Total liabilities and capital$265,559
Total liabilities$247,046
Total deposits$222,452
Interest-bearing deposits$205,031
Deposits held in domestic offices$222,452
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $21,208
Trading liabilities$0
Other borrowed funds $412
Subordinated debt $0
All other liabilities $2,974
Total equity capital$18,513
Total bank equity capital$18,513
Perpetual preferred stock$18,513
Common stock$0
Surplus$4,370
Undivided profits $11,321
Memoranda
Noncurrent loans and leases $2,822
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $37,341
Income earned, not collected on loans $0
Earning assets $334
Long-term assets (5+ years) $0
Average Assets, year-to-date $953
Average Assets, quarterly $244,363
Volatile liabilities $54,591
Insider loans $249,983
FHLB advances $268,836
Loans and leases held for sale $46,478
Unused loan commitments $7,923
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $15,000
Total risk weighted assets $0
Total unused commitments $37,341
Restructured Loans and leases $0
Derivatives$2,195
Back to page top, Back to table top

Income and Expense (December 31, 1999)
(Dollar figures in thousands)
Total interest income $17,385
Total interest expense $9,504
Net interest income $7,881
Provision for loan and lease losses $352
Total noninterest income $574
Fiduciary activities $0
Service charges on deposit accounts $269
Trading account gains & fees $0
Additional noninterest income $305
Total noninterest expense $2,786
Salaries and employee benefits $896
Premises and equipment expense $516
Additional noninterest expense $1,374
Pre-tax net operating income $5,317
Securities gains (losses) $141
Applicable income taxes $1,969
Income before extraordinary items $3,489
Extraordinary gains - net $0
Net income attributable to bank $3,489
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $92
Net operating income $5,963
Back to page top, Back to table top

Performance and Condition Ratios (December 31, 1999)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets7.55%
Cost of funding earning assets 4.13%
Net interest margin 3.42%
Noninterest income to earning assets 0.25%
Noninterest expense to earning assets 1.21%
Net operating income to assets 1.36%
Return on assets (ROA) 1.40%
Pretax return on assets 2.18%
Return on equity (ROE) 16.10%
Retained earnings to average equity (YTD only) -11.42%
Net charge-offs to loans 0.06%
Credit loss provision to net charge-offs 335.24%
Efficiency ratio61.62%
Assets per employee$31,130
Cash dividends to net income (YTD only)11.06%
Condition Ratios (%)
Loss allowance to loans 170.91%
Loss allowance to noncurrent loans 1.33%
Noncurrent assets plus other real estate owned to assets 657.19%
Noncurrent loans to loans 0.13%
Net loans and leases to deposits0.20%
Net loans and leases to core deposits 73.35%
Equity capital to assets 82.57%
Core capital (leverage) ratio 6.97%
Tier 1 risk-based capital ratio 7.11%
Total risk-based capital ratio 10.03%
Memoranda
Average assets$11
Average earning assets$249,983
Average equity $21,668
Average loans $230,338
Back to page top, Back to table top

User Contributions:

Comment about this bank, ask questions, or add new information about it:

CAPTCHA


This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Bank of Mecklenburg.
Based on public records. Inadvertent errors are possible.
BankEncyclopedia.com does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.