Bank of Walterboro in Walterboro, South Carolina (SC)



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Bank of Walterboro
GeneralFDIC Certificate #: 27496
Status: Active
Federal Reserve ID: 1404481
Bank Holding Company (Regulatory Top Holder): Communitycorp (RSSDID: 2352842, Location: Walterboro, SC)
Date Established: May 01, 1989
WWW: http://www.bankofwalterboro.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Domestic: 4, Interstate: No)
FDIC's unique #: 40225
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: May 01, 1989
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: 1100 North Jefferies Boulevard, Walterboro, SC 29488
County: Colleton
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): Walterboro, SC (#47500)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $159.6 mil
Equity capital: $18.2 mil
Deposits held in domestic offices: $140.9 mil
Return on assets (ROA): 0.19% ($0.3 mil)
Quarterly return on assets: 0.15% ($0.2 mil)
Return on Equity (ROE): 1.68% ($0.3 mil)
Quarterly return on equity: 1.29% ($0.2 mil)
Net income: $0.3 mil
Quarterly Net income: $0.1 mil
Pretax return on assets: 0.18% ($287.3 mil)
Quarterly Pretax return on assets: -0.03% (-$47.9 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)40
Total assets$159,591
Cash and due from depository institutions$23,230
Interest-bearing balances$18,870
Securities$28,535
Federal funds sold & reverse repurchase agreements$7,738
Net loans & leases$91,841
Loan loss allowance $1,967
Trading account assets$0
Bank premises and fixed assets$2,691
Other real estate owned$3,290
Goodwill and other intangibles$0
All other assets$2,266
Life insurance assets$159,591
Total liabilities and capital$141,422
Total liabilities$140,874
Total deposits$126,946
Interest-bearing deposits$140,874
Deposits held in domestic offices$91
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $548
All other liabilities $18,169
Total equity capital$18,169
Total bank equity capital$18,169
Perpetual preferred stock$0
Common stock$1,500
Surplus$1,732
Undivided profits $14,937
Memoranda
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 $5,389
Earning assets $0
Long-term assets (5+ years) $496
Average Assets, year-to-date $146,984
Average Assets, quarterly $26,116
Volatile liabilities $157,995
Insider loans $159,699
FHLB advances $101,189
Loans and leases held for sale $160,198
Unused loan commitments $14
Tier 1 (core) risk-based capital $14
Tier 2 risk-based capital $17,831
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $5,686
Derivatives$1,603
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $6,861
Total interest expense $1,456
Net interest income $5,405
Provision for loan and lease losses $1,920
Total noninterest income $686
Fiduciary activities $0
Service charges on deposit accounts $439
Trading account gains & fees $0
Additional noninterest income $247
Total noninterest expense $4,114
Salaries and employee benefits $1,901
Premises and equipment expense $632
Additional noninterest expense $1,581
Pre-tax net operating income $57
Securities gains (losses) $227
Applicable income taxes -$19
Income before extraordinary items $303
Extraordinary gains - net $0
Net income attributable to bank $303
Net charge-offs $0
Cash dividends $303
Sale, conversion, retirement of capital stock, net $1,972
Net operating income $150
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.70%
Cost of funding earning assets 1.00%
Net interest margin 3.70%
Noninterest income to earning assets 0.47%
Noninterest expense to earning assets 2.82%
Net operating income to assets 0.05%
Return on assets (ROA) 0.19%
Pretax return on assets 0.18%
Return on equity (ROE) 1.68%
Retained earnings to average equity (YTD only) 0.85%
Net charge-offs to loans 1.97%
Credit loss provision to net charge-offs 97.36%
Efficiency ratio1.00%
Assets per employee$67,542
Cash dividends to net income (YTD only)3.99%
Condition Ratios (%)
Loss allowance to loans 49.50%
Loss allowance to noncurrent loans 2.10%
Noncurrent assets plus other real estate owned to assets 36.50%
Noncurrent loans to loans 5.44%
Net loans and leases to deposits5.74%
Net loans and leases to core deposits 65.19%
Equity capital to assets 72.72%
Core capital (leverage) ratio 11.38%
Tier 1 risk-based capital ratio 11.13%
Total risk-based capital ratio 17.62%
Memoranda
Average assets$19
Average earning assets$157,995
Average equity $18,022
Average loans $145,954
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4 South Carolina Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
040225Bank Of Walterboro1100 North Jefferies Boulevard, Walterboro, SC 29488May 01, 1989Full Service Brick and Mortar
1262149Ravenel Branch6225 Savannah Highway, Ravenel, SC 29470October 06, 1997Full Service Brick and Mortar
2361827Forest Hills Branch110 Forest Hills Road, Walterboro, SC 29488March 23, 2001Full Service Brick and Mortar
3433554Ridgeland Branch8058 Main Street, Ridgeland, SC 29936December 08, 2004Full Service Brick and Mortar
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