FDIC Certificate #: 27527 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:The National Bank of South Carolina (#2111) Federal Reserve ID: 1400858 Date Established: June 26, 1989 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 4 (Interstate: No) OTS Docket #: 12542 FDIC's unique #: 40260 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes Insured commercial Banks: Yes FDIC Insured: Yes State Chartered: Yes Date of Deposit Insurance: June 26, 1989 Last Structure Change Effective Date: Febuary 16, 2001 Last Structure Change Process Date: March 20, 2001 Last Data Update: March 20, 2001 Data Source Date: April 05, 2012
Location
Address: 150 East Henry Street, Spartanburg, SC 29301 County: Spartanburg 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 Metropolitan Statistical Area (MSA): Greenville-Spartanburg-Anderson, SC (#3160) Combined Statistical Area (CSA): Greenville-Spartanburg-Anderson, SC (#273) Core Based Statistical Area (CBSA): Spartanburg, SC (#43900) CBSA Metro Statistical Area: Spartanburg, SC (#43900)
Financial Summary
Total assets: $203.8 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2000)
Dollar figures in thousands
64Total employees (full-time equivalent)
$203,824Total assets
$6,983Cash and due from depository institutions
$32Interest-bearing balances
$36,012Securities
$15,190Federal funds sold & reverse repurchase agreements
$139,106Net loans & leases
$2,039Loan loss allowance
$0Trading account assets
$4,106Bank premises and fixed assets
$28Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$2,399All other assets
$203,824Total liabilities and capital
$180,434Total liabilities
$171,241Total deposits
$148,223Interest-bearing deposits
$171,241Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$7,174Other borrowed funds
$0Subordinated debt
$2,019All other liabilities
$23,390Total equity capital
$23,390Total bank equity capital
$23,390Perpetual preferred stock
$0Common stock
$22,278Surplus
$0Undivided profits
Memoranda
$1,112Noncurrent loans and leases
$26,502Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$392Earning assets
$0Long-term assets (5+ years)
$1,204Average Assets, year-to-date
$190,340Average Assets, quarterly
$14,290Volatile liabilities
$207,985Insider loans
$206,808FHLB advances
$33,995Loans and leases held for sale
$4,501Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$26,502Total unused commitments
$0Restructured Loans and leases
$1,945Derivatives
Income and Expense (December 31, 2000)
Dollar figures in thousands
$16,495Total interest income
$8,550Total interest expense
$7,945Net interest income
$978Provision for loan and lease losses
$99Total noninterest income
$0Fiduciary activities
$473Service charges on deposit accounts
$0Trading account gains & fees
-$374Additional noninterest income
$5,745Total noninterest expense
$3,226Salaries and employee benefits
$1,009Premises and equipment expense
$1,510Additional noninterest expense
$1,321Pre-tax net operating income
-$465Securities gains (losses)
$74Applicable income taxes
$782Income before extraordinary items
$0Extraordinary gains - net
$782Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$646Sale, conversion, retirement of capital stock, net
$661Net operating income
Performance and Condition Ratios (December 31, 2000)
Dollar figures in thousands
Performance Ratios (%, annualized)
8.55%Yield on earning assets
4.43%Cost of funding earning assets
4.12%Net interest margin
0.05%Noninterest income to earning assets
2.98%Noninterest expense to earning assets
0.58%Net operating income to assets
0.38%Return on assets (ROA)
0.41%Pretax return on assets
3.37%Return on equity (ROE)
0.52%Retained earnings to average equity (YTD only)
0.46%Net charge-offs to loans
151.39%Credit loss provision to net charge-offs
3.56%Efficiency ratio
71,420Assets per employee
3.18%Cash dividends to net income (YTD only)
Condition Ratios (%)
84.53%Loss allowance to loans
1.44%Loss allowance to noncurrent loans
520.15%Noncurrent assets plus other real estate owned to assets
0.21%Noncurrent loans to loans
0.28%Net loans and leases to deposits
81.23%Net loans and leases to core deposits
96.32%Equity capital to assets
11.48%Core capital (leverage) ratio
11.22%Tier 1 risk-based capital ratio
15.01%Total risk-based capital ratio
Memoranda
$16Average assets
$207,985Average earning assets
$23,185Average equity
$193,013Average loans
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