Clover Community Bank in Clover, South Carolina (SC)

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Clover Community Bank
GeneralFDIC Certificate #: 27055
Status: Active
Federal Reserve ID: 81429
Bank Holding Company (Regulatory Top Holder): Clover Community Bankshares, Inc. (RSSDID: 2684338, Location: Clover, SC)
Date Established: October 01, 1987
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Domestic: 2, Interstate: No)
OTS Docket #: 11640
FDIC's unique #: 38654
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: October 01, 1987
Last Structure Change Effective Date: April 01, 2008
Last Structure Change Process Date: April 01, 2008
Last Data Update: April 01, 2008
Data Source Date: April 05, 2012
LocationAddress: 124 North Main Street, Clover, SC 29710
County: York
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): 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)
Financial SummaryTotal assets: $122.8 mil
Equity capital: $10.2 mil
Deposits held in domestic offices: $112.1 mil
Return on assets (ROA): 0.33% ($0.4 mil)
Quarterly return on assets: 0.44% ($0.5 mil)
Return on Equity (ROE): 4.37% ($0.4 mil)
Quarterly return on equity: 5.47% ($0.5 mil)
Net income: $0.4 mil
Quarterly Net income: $0.1 mil
Pretax return on assets: 0.44% ($540.3 mil)
Quarterly Pretax return on assets: 0.62% ($761.3 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)30
Total assets$122,793
Cash and due from depository institutions$20,841
Interest-bearing balances$18,323
Federal funds sold & reverse repurchase agreements$255
Net loans & leases$66,661
Loan loss allowance $3,153
Trading account assets$0
Bank premises and fixed assets$1,806
Other real estate owned$2,849
Goodwill and other intangibles$0
All other assets$5,073
Life insurance assets$122,793
Total liabilities and capital$112,635
Total liabilities$112,119
Total deposits$97,767
Interest-bearing deposits$112,119
Deposits held in domestic offices$94
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $516
All other liabilities $10,158
Total equity capital$10,158
Total bank equity capital$10,158
Perpetual preferred stock$0
Common stock$1,264
Undivided profits $4,824
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 $1,478
Earning assets $0
Long-term assets (5+ years) $423
Average Assets, year-to-date $110,547
Average Assets, quarterly $30,164
Volatile liabilities $128,410
Insider loans $125,086
FHLB advances $73,188
Loans and leases held for sale $123,801
Unused loan commitments $2,896
Tier 1 (core) risk-based capital $2,896
Tier 2 risk-based capital $9,461
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $7,416
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $5,828
Total interest expense $898
Net interest income $4,930
Provision for loan and lease losses $1,385
Total noninterest income $579
Fiduciary activities $0
Service charges on deposit accounts $802
Trading account gains & fees $0
Additional noninterest income -$223
Total noninterest expense $3,882
Salaries and employee benefits $1,788
Premises and equipment expense $485
Additional noninterest expense $1,609
Pre-tax net operating income $242
Securities gains (losses) $327
Applicable income taxes $151
Income before extraordinary items $418
Extraordinary gains - net $0
Net income attributable to bank $418
Net charge-offs $0
Cash dividends $418
Sale, conversion, retirement of capital stock, net $1,782
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.12%
Cost of funding earning assets 0.79%
Net interest margin 4.33%
Noninterest income to earning assets 0.51%
Noninterest expense to earning assets 3.41%
Net operating income to assets 0.14%
Return on assets (ROA) 0.33%
Pretax return on assets 0.44%
Return on equity (ROE) 4.37%
Retained earnings to average equity (YTD only) 4.37%
Net charge-offs to loans 2.31%
Credit loss provision to net charge-offs 77.72%
Efficiency ratio0.91%
Assets per employee$70,467
Cash dividends to net income (YTD only)4.09%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 4.52%
Noncurrent assets plus other real estate owned to assets 213.33%
Noncurrent loans to loans 3.52%
Net loans and leases to deposits2.12%
Net loans and leases to core deposits 59.46%
Equity capital to assets 61.31%
Core capital (leverage) ratio 8.27%
Tier 1 risk-based capital ratio 7.64%
Total risk-based capital ratio 12.93%
Average assets$14
Average earning assets$128,410
Average equity $9,568
Average loans $113,730
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2 South Carolina Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
038654Clover Community Bank124 North Main Street, Clover, SC 29710October 01, 1987Full Service Brick and Mortar
1365852Lake Wylie Branch5196 Charlotte Highway, Lake Wylie, SC 29710December 13, 2002Full Service Brick and Mortar
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