Coastal Federal Bank in Myrtle Beach, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of August 18, 2007

  • Coastal Federal Bank in Myrtle Beach, South Carolina (SC)
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Coastal Federal Bank - Overview

  • General
  • FDIC Certificate #: 30683
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Branch Banking and Trust Company (#9846)
    Federal Reserve ID: 57273
    Date Established: January 11, 1954
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 5746
    FDIC's unique #: 43517
    Numeric code: 33
    Regulator: OTS
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: No
    Date of Deposit Insurance: January 11, 1954
    Last Structure Change Effective Date: August 18, 2007
    Last Structure Change Process Date: September 06, 2007
    Last Data Update: September 06, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 2619 North Oak Street, Myrtle Beach, SC 29577
    County: Horry
    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): Myrtle Beach, SC (#5330)
    Combined Statistical Area (CSA): Myrtle Beach-Conway-Georgetown, SC (#396)
    Core Based Statistical Area (CBSA): Myrtle Beach-North Myrtle Beach-Conway, SC (#34820)
    CBSA Metro Statistical Area: Myrtle Beach-North Myrtle Beach-Conway, SC (#34820)
  • Financial Summary
  • Total assets: $1,761.3 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, 2006)

  • Dollar figures in thousands
  • 504Total employees (full-time equivalent)
  • $1,663,025Total assets
  • $51,375Cash and due from depository institutions
  • $20,601Interest-bearing balances
  • $429,462Securities
  • $252Federal funds sold & reverse repurchase agreements
  • $1,091,251Net loans & leases
  • $12,701Loan loss allowance
  • $0Trading account assets
  • $29,332Bank premises and fixed assets
  • $544Other real estate owned
  • $3,311Goodwill and other intangibles
  • $23,799Life insurance assets
  • $57,498All other assets
  • $1,663,025Total liabilities and capital
  • $1,532,342Total liabilities
  • $1,063,049Total deposits
  • $856,831Interest-bearing deposits
  • $1,063,049Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $43,161Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $410,871Other borrowed funds
  • $0Subordinated debt
  • $15,261All other liabilities
  • $130,683Total equity capital
  • $130,683Total bank equity capital
  • $130,683Perpetual preferred stock
  • $0Common stock
  • $542Surplus
  • $18,361Undivided profits
  • Memoranda
  • $111,780Noncurrent loans and leases
  • $113,919Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $5,008Earning assets
  • $0Long-term assets (5+ years)
  • $7,896Average Assets, year-to-date
  • $1,541,566Average Assets, quarterly
  • $0Volatile liabilities
  • $1,635,889Insider loans
  • $1,663,022FHLB advances
  • $864,684Loans and leases held for sale
  • $779Unused loan commitments
  • $407,130Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $113,919Total unused commitments
  • $2,093Restructured Loans and leases
  • $12,377Derivatives

Income and Expense (December 31, 2006)

  • Dollar figures in thousands
  • $106,817Total interest income
  • $47,664Total interest expense
  • $59,153Net interest income
  • $1,210Provision for loan and lease losses
  • $17,265Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $17,265Additional noninterest income
  • $44,699Total noninterest expense
  • $24,900Salaries and employee benefits
  • $9,342Premises and equipment expense
  • $10,457Additional noninterest expense
  • $30,509Pre-tax net operating income
  • $1,418Securities gains (losses)
  • $11,125Applicable income taxes
  • $20,802Income before extraordinary items
  • $0Extraordinary gains - net
  • $20,802Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $396Sale, conversion, retirement of capital stock, net
  • $3,100Net operating income

Performance and Condition Ratios (December 31, 2006)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.06%Yield on earning assets
  • 3.15%Cost of funding earning assets
  • 3.91%Net interest margin
  • 1.14%Noninterest income to earning assets
  • 2.96%Noninterest expense to earning assets
  • 1.22%Net operating income to assets
  • 1.27%Return on assets (ROA)
  • 1.95%Pretax return on assets
  • 17.31%Return on equity (ROE)
  • 14.73%Retained earnings to average equity (YTD only)
  • 0.04%Net charge-offs to loans
  • 305.56%Credit loss provision to net charge-offs
  • 80.10%Efficiency ratio
  • 58,493Assets per employee
  • 3.30%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 14.90%Loss allowance to loans
  • 1.15%Loss allowance to noncurrent loans
  • 253.61%Noncurrent assets plus other real estate owned to assets
  • 0.33%Noncurrent loans to loans
  • 0.45%Net loans and leases to deposits
  • 102.65%Net loans and leases to core deposits
  • 167.27%Equity capital to assets
  • 7.86%Core capital (leverage) ratio
  • 8.02%Tier 1 risk-based capital ratio
  • 13.49%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $1,635,889Average earning assets
  • $120,195Average equity
  • $1,512,640Average loans

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