Bank of Mecklenburg in Charlotte, North Carolina (NC)

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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
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
Undivided profits $11,321
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
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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
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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%
Average assets$11
Average earning assets$249,983
Average equity $21,668
Average loans $230,338
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