Carolina State Bank in Shelby, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of December 22, 1997

Carolina State Bank in Shelby, North Carolina (NC)
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Carolina State Bank - Overview

General
FDIC Certificate #: 33368
Status: Inactive
Closing history: Corrections
Acquiring institution: First Charter Bank (#4886)
Federal Reserve ID: 1850912
Date Established: April 05, 1991
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Interstate: No)
OTS Docket #: 11297
FDIC's unique #: 46947
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: April 05, 1991
Last Structure Change Effective Date: December 22, 1997
Last Structure Change Process Date: December 31, 1997
Last Data Update: January 07, 1998
Data Source Date: April 05, 2012
Location
Address: 316 South Lafayette Street, Shelby, NC 28150
County: Cleveland
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
Combined Statistical Area (CSA): Charlotte-Gastonia-Salisbury, NC-SC (#172)
Core Based Statistical Area (CBSA): Shelby, NC (#43140)
CBSA Micro Statistical Area: Yes
History of Changes
Merger - Without Assistance
Corrections
Financial Summary
Total assets: $142.9 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)

Dollar figures in thousands
0Total employees (full-time equivalent)
$57Total assets
$133,401Cash and due from depository institutions
$3,222Interest-bearing balances
$5Securities
$25,484Federal funds sold & reverse repurchase agreements
$4,510Net loans & leases
$94,636Loan loss allowance
$1,400Trading account assets
$0Bank premises and fixed assets
$2,569Other real estate owned
$0Goodwill and other intangibles
$2,244Life insurance assets
$736All other assets
$0Total liabilities and capital
$133,401Total liabilities
$121,089Total deposits
$114,641Interest-bearing deposits
$106,344Deposits held in domestic offices
114641.00%% insured (estimated)
$93Federal funds purchased & repurchase agreements
$634Trading liabilities
$0Other borrowed funds
$5,000Subordinated debt
$0All other liabilities
$814Total equity capital
$814Total bank equity capital
$12,312Perpetual preferred stock
$0Common stock
$4,797Surplus
$6,220Undivided profits
Memoranda
$1,295Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$355Income earned, not collected on loans
$717Earning assets
$124,635Long-term assets (5+ years)
$22,759Average Assets, year-to-date
$125,123Average Assets, quarterly
$130,914Volatile liabilities
$21,553Insider loans
$2,475FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$10,044Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$11,558Total risk weighted assets
$92,968Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1996)

Dollar figures in thousands
$0Total interest income
$10,338Total interest expense
$5,541Net interest income
$4,797Provision for loan and lease losses
$620Total noninterest income
$1,000Fiduciary activities
$0Service charges on deposit accounts
$577Trading account gains & fees
$0Additional noninterest income
$423Total noninterest expense
$3,280Salaries and employee benefits
$1,582Premises and equipment expense
$456Additional noninterest expense
$1,242Pre-tax net operating income
$1,897Securities gains (losses)
$0Applicable income taxes
$681Income before extraordinary items
$1,216Extraordinary gains - net
$0Net income attributable to bank
$1,216Net charge-offs
$420Cash dividends
$0Sale, conversion, retirement of capital stock, net
$2Net operating income

Performance and Condition Ratios (December 31, 1996)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.84%Cost of funding earning assets
4.74%Net interest margin
4.10%Noninterest income to earning assets
0.86%Noninterest expense to earning assets
2.81%Net operating income to assets
0.97%Return on assets (ROA)
0.97%Pretax return on assets
1.52%Return on equity (ROE)
10.37%Retained earnings to average equity (YTD only)
10.37%Net charge-offs to loans
0.47%Credit loss provision to net charge-offs
147.62%Efficiency ratio
55,322Assets per employee
2.34%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.46%Loss allowance to noncurrent loans
394.37%Noncurrent assets plus other real estate owned to assets
0.27%Noncurrent loans to loans
0.37%Net loans and leases to deposits
82.55%Net loans and leases to core deposits
97.84%Equity capital to assets
9.23%Core capital (leverage) ratio
8.89%Tier 1 risk-based capital ratio
12.43%Total risk-based capital ratio
Memoranda
$14Average assets
$125,123Average earning assets
$11,724Average equity
$116,901Average loans

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