Bank of North Georgia in Alpharetta, Georgia (GA)



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Bank of North Georgia
GeneralFDIC Certificate #: 31203
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Synovus Bank (#873)
Federal Reserve ID: 832377
Date Established: August 05, 1960
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 48 (Interstate: No)
OTS Docket #: 6526
FDIC's unique #: 44037
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: Yes
Date of Deposit Insurance: August 05, 1960
Last Structure Change Effective Date: June 01, 2010
Last Structure Change Process Date: June 14, 2010
Last Data Update: June 14, 2010
Data Source Date: April 05, 2012
LocationAddress: 8025 Westside Parkway, Alpharetta, GA 30004
County: Fulton
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Atlanta
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Atlanta, GA (#520)
Combined Statistical Area (CSA): Atlanta-Sandy Springs-Gainesville, GA-AL (#122)
Core Based Statistical Area (CBSA): Atlanta-Sandy Springs-Marietta, GA (#12060)
CBSA Metro Statistical Area: Atlanta-Sandy Springs-Marietta, GA (#12060)
Financial SummaryTotal assets: $4,673.7 mil

1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2009)
(Dollar figures in thousands)
Total employees (full-time equivalent)654
Total assets$5,082,865
Cash and due from depository institutions$50,988
Interest-bearing balances$2,020
Securities$529,649
Federal funds sold & reverse repurchase agreements$396,763
Net loans & leases$3,646,433
Loan loss allowance $139,447
Trading account assets$7,397
Bank premises and fixed assets$91,155
Other real estate owned$96,780
Goodwill and other intangibles$5,833
All other assets$257,867
Life insurance assets$15,332
Total liabilities and capital$5,082,865
Total liabilities$4,624,335
Total deposits$4,405,649
Interest-bearing deposits$3,880,762
Deposits held in domestic offices$4,405,649
% insured (estimated)72.41%
Federal funds purchased & repurchase agreements $46,289
Trading liabilities$8,547
Other borrowed funds $141,471
Subordinated debt $0
All other liabilities $22,379
Total equity capital$458,530
Total bank equity capital$458,530
Perpetual preferred stock$458,530
Common stock$0
Surplus$6,063
Undivided profits $819,386
Memoranda
Noncurrent loans and leases $-366,919
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $627,954
Income earned, not collected on loans $0
Earning assets $394,208
Long-term assets (5+ years) $0
Average Assets, year-to-date $20,197
Average Assets, quarterly $4,574,865
Volatile liabilities $556,257
Insider loans $5,653,375
FHLB advances $5,309,892
Loans and leases held for sale $492,404
Unused loan commitments $31,290
Tier 1 (core) risk-based capital $141,471
Tier 2 risk-based capital $274,719
Total risk weighted assets $2,549
Total unused commitments $627,954
Restructured Loans and leases $0
Derivatives$54,312
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Income and Expense (December 31, 2009)
(Dollar figures in thousands)
Total interest income $224,523
Total interest expense $97,974
Net interest income $126,549
Provision for loan and lease losses $392,269
Total noninterest income -$27,144
Fiduciary activities $0
Service charges on deposit accounts $14,956
Trading account gains & fees $121
Additional noninterest income -$42,221
Total noninterest expense $116,435
Salaries and employee benefits $50,194
Premises and equipment expense $11,378
Additional noninterest expense $54,863
Pre-tax net operating income -$409,299
Securities gains (losses) $716
Applicable income taxes -$113,660
Income before extraordinary items -$294,923
Extraordinary gains - net $0
Net income attributable to bank -$294,923
Net charge-offs $0
Cash dividends -$294,923
Sale, conversion, retirement of capital stock, net $390,347
Net operating income $0
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Performance and Condition Ratios (December 31, 2009)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.29%
Cost of funding earning assets 1.87%
Net interest margin 2.42%
Noninterest income to earning assets -0.52%
Noninterest expense to earning assets 2.22%
Net operating income to assets -5.23%
Return on assets (ROA) -5.22%
Pretax return on assets -7.23%
Return on equity (ROE) -56.96%
Retained earnings to average equity (YTD only) -56.96%
Net charge-offs to loans 9.06%
Credit loss provision to net charge-offs 100.49%
Efficiency ratio-0.04%
Assets per employee$115,398
Cash dividends to net income (YTD only)7.77%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 3.68%
Noncurrent assets plus other real estate owned to assets 35.37%
Noncurrent loans to loans 9.66%
Net loans and leases to deposits10.41%
Net loans and leases to core deposits 82.77%
Equity capital to assets 91.89%
Core capital (leverage) ratio 9.02%
Tier 1 risk-based capital ratio 8.48%
Total risk-based capital ratio 10.21%
Memoranda
Average assets$11
Average earning assets$5,653,375
Average equity $517,775
Average loans $5,234,452
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