Citizens South Bank in Gastonia, North Carolina (NC), GA, SC
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Citizens South Bank in Gastonia, North Carolina (NC), GA, SC
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Citizens South Bank - Overview

  • General
  • FDIC Certificate #: 28833
    Status: Active
    Federal Reserve ID: 397175
    Date Established: January 01, 1904
    WWW: http://www.citizenssouth.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 21 (Domestic: 21, Interstate: Yes)
    OTS Docket #: 2449
    FDIC's unique #: 41667
    Numeric code: 33
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: November 26, 1935
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 519 South New Hope Road, Gastonia, NC 28054
    County: Gaston
    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)
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $1,078.7 mil
    Equity capital: $104.3 mil
    Deposits held in domestic offices: $878.1 mil
    Return on assets (ROA): 0.09% ($1.0 mil)
    Quarterly return on assets: -0.53% (-$5.7 mil)
    Return on Equity (ROE): 0.96% ($1.0 mil)
    Quarterly return on equity: -5.48% (-$5.7 mil)
    Net income: $1.0 mil
    Quarterly Net income: -$1.4 mil
    Pretax return on assets: 0.07% ($755.1 mil)
    Quarterly Pretax return on assets: -0.94% (-$10,139.4 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
  • 222Total employees (full-time equivalent)
  • $1,078,655Total assets
  • $88,214Cash and due from depository institutions
  • $74,918Interest-bearing balances
  • $146,556Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $724,221Net loans & leases
  • $11,713Loan loss allowance
  • $0Trading account assets
  • $25,888Bank premises and fixed assets
  • $17,572Other real estate owned
  • $1,373Goodwill and other intangibles
  • $1,078,655Life insurance assets
  • $74,831All other assets
  • $974,348Total liabilities and capital
  • $878,058Total liabilities
  • $789,985Total deposits
  • $878,058Interest-bearing deposits
  • $89Deposits held in domestic offices
  • 27787.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $60,688Trading liabilities
  • $0Other borrowed funds
  • $7,815Subordinated debt
  • $104,307All other liabilities
  • $104,307Total equity capital
  • $104,307Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $91,444Surplus
  • $12,863Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $2,146Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $62,865Income earned, not collected on loans
  • $0Earning assets
  • $2,769Long-term assets (5+ years)
  • $945,695Average Assets, year-to-date
  • $193,341Average Assets, quarterly
  • $1,079,177Volatile liabilities
  • $1,088,803Insider loans
  • $714,806FHLB advances
  • $1,085,831Loans and leases held for sale
  • $18,978Unused loan commitments
  • $8,992Tier 1 (core) risk-based capital
  • $102,539Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $9,986Total unused commitments
  • $136,155Restructured Loans and leases
  • $3,894Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $44,053Total interest income
  • $10,224Total interest expense
  • $33,829Net interest income
  • $10,685Provision for loan and lease losses
  • $6,857Total noninterest income
  • $0Fiduciary activities
  • $2,408Service charges on deposit accounts
  • $0Trading account gains & fees
  • $4,449Additional noninterest income
  • $29,323Total noninterest expense
  • $14,220Salaries and employee benefits
  • $3,336Premises and equipment expense
  • $11,767Additional noninterest expense
  • $678Pre-tax net operating income
  • $111Securities gains (losses)
  • -$214Applicable income taxes
  • $1,003Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,003Net income attributable to bank
  • $0Net charge-offs
  • $1,003Cash dividends
  • $10,896Sale, conversion, retirement of capital stock, net
  • $1,304Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.64%Yield on earning assets
  • 1.08%Cost of funding earning assets
  • 3.57%Net interest margin
  • 0.72%Noninterest income to earning assets
  • 3.09%Noninterest expense to earning assets
  • 0.08%Net operating income to assets
  • 0.09%Return on assets (ROA)
  • 0.07%Pretax return on assets
  • 0.96%Return on equity (ROE)
  • -0.29%Retained earnings to average equity (YTD only)
  • 1.47%Net charge-offs to loans
  • 98.06%Credit loss provision to net charge-offs
  • 1.04%Efficiency ratio
  • 70,749Assets per employee
  • 4.86%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 130.01%Loss allowance to loans
  • 1.59%Loss allowance to noncurrent loans
  • 18.63%Noncurrent assets plus other real estate owned to assets
  • 7.46%Noncurrent loans to loans
  • 8.54%Net loans and leases to deposits
  • 82.48%Net loans and leases to core deposits
  • 87.43%Equity capital to assets
  • 9.67%Core capital (leverage) ratio
  • 9.44%Tier 1 risk-based capital ratio
  • 14.35%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $1,079,177Average earning assets
  • $104,951Average equity
  • $948,793Average loans

List of branches

  • 5 Georgia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    1146426Hiawassee Branch20 South Main Street, Hiawassee, GA 30546July 21, 1909Full Service Brick and Mortar
    115221752Young Harris Branch693 Main Street, Young Harris, GA 30582October 24, 1977Full Service Brick and Mortar
    117221756Blairsville Branch10 Highway 515, Blairsville, GA 30512August 04, 1998Full Service Brick and Mortar
    118447215Blue Ridge Branch220 Orvin Lance Connector, Blue Ridge, GA 30513January 09, 2006Full Service Brick and Mortar
    124420387New Horizons Bank Branch489 Highland Xing, East Ellijay, GA 30540May 21, 2004Full Service Brick and Mortar
  • 15 North Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    041667Citizens South Bank519 South New Hope Road, Gastonia, NC 28054January 01, 1904Full Service Brick and Mortar
    10143327Mount Holly Branch233 South Main Street, Mount Holly, NC 28120January 01, 1938Full Service Brick and Mortar
    102270915Martha Rivers Branch1670 Neal Hawkins Road, Gastonia, NC 28052June 30, 1988Full Service Brick and Mortar
    103270916Dallas Branch3135 Dallas High Shoals Road, Dallas, NC 28034Febuary 22, 2000Full Service Brick and Mortar
    104360135Stanley Branch412 South Highway 27, Stanley, NC 28164Febuary 20, 2001Full Service Brick and Mortar
    10541006Salisbury Branch401 West Innes Street, Salisbury, NC 28144January 01, 1907Full Service Brick and Mortar
    106265335Rockwell Branch106 West Main Street, Rockwell, NC 28138January 01, 1907Full Service Brick and Mortar
    108423000Mooresville Branch649 Brawley School Road, Mooresville, NC 28117July 14, 2003Full Service Brick and Mortar
    11077677Monroe Branch310 West Franklin Street, Monroe, NC 28112November 01, 1999Full Service Brick and Mortar
    111257466Weddington Branch13731 Providence Road, Weddington, NC 28104April 13, 1998Full Service Brick and Mortar
    112360353Indian Trail Branch13816 East Independence Blvd., Indian Trail, NC 28079April 30, 2001Full Service Brick and Mortar
    119518492Charlotte Branch5935 Carnegie Blvd., Suite 104, Charlotte, NC 28209August 13, 2009Full Service Brick and Mortar
    120518501Belmont Branch192 East Woodrow Avenue, Belmont, NC 28012November 15, 2005Full Service Brick and Mortar
    121518503Main Avenue Branch245 W. Main Avenue, Gastonia, NC 28052May 03, 2004Full Service Brick and Mortar
    122518509Statesville Branch307 North Center Street, Statesville, NC 28677December 31, 2001Full Service Brick and Mortar
  • 1 South Carolina Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    113491901Rock Hill Branch2215 India Hook Road, Rock Hill, SC 29732March 12, 2008Full Service Brick and Mortar

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