CoastalStates Bank in Hilton Head Island, South Carolina (SC)

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CoastalStates Bank
GeneralFDIC Certificate #: 57756
Status: Active
Federal Reserve ID: 3274709
Bank Holding Company (Regulatory Top Holder): Coastalsouth Bancshares, Inc. (RSSDID: 3274727, Location: Hilton Head Island, SC)
Date Established: August 09, 2004
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Domestic: 5, Interstate: No)
FDIC's unique #: 423465
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: August 09, 2004
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 5 Bow Circle, Hilton Head Island, SC 29928
County: Beaufort
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
Core Based Statistical Area (CBSA): Hilton Head Island-Beaufort, SC (#25940)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $398.5 mil
Equity capital: $30.1 mil
Deposits held in domestic offices: $289.6 mil
Return on assets (ROA): -1.77% (-$7.1 mil)
Quarterly return on assets: 0.61% ($2.4 mil)
Return on Equity (ROE): -22.94% (-$6.9 mil)
Quarterly return on equity: 7.88% ($2.4 mil)
Net income: -$6.9 mil
Quarterly Net income: $0.6 mil
Pretax return on assets: -1.76% (-$7,014.0 mil)
Quarterly Pretax return on assets: 0.61% ($2,431.0 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)141
Total assets$398,522
Cash and due from depository institutions$10,608
Interest-bearing balances$2,893
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$297,936
Loan loss allowance $5,327
Trading account assets$0
Bank premises and fixed assets$1,198
Other real estate owned$10,061
Goodwill and other intangibles$1,285
All other assets$22,250
Life insurance assets$398,523
Total liabilities and capital$368,467
Total liabilities$289,616
Total deposits$250,504
Interest-bearing deposits$289,616
Deposits held in domestic offices$92
% insured (estimated)7617.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$70,000
Other borrowed funds $0
Subordinated debt $1,234
All other liabilities $30,056
Total equity capital$30,056
Total bank equity capital$30,056
Perpetual preferred stock$0
Common stock$8,600
Undivided profits $-21,380
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $90,877
Income earned, not collected on loans $18,441
Earning assets $0
Long-term assets (5+ years) $1,245
Average Assets, year-to-date $356,013
Average Assets, quarterly $52,826
Volatile liabilities $390,237
Insider loans $385,235
FHLB advances $264,993
Loans and leases held for sale $380,319
Unused loan commitments $5,923
Tier 1 (core) risk-based capital $5,923
Tier 2 risk-based capital $26,149
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $32,371
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $14,321
Total interest expense $3,910
Net interest income $10,411
Provision for loan and lease losses $7,550
Total noninterest income $9,878
Fiduciary activities $0
Service charges on deposit accounts $267
Trading account gains & fees $0
Additional noninterest income $9,611
Total noninterest expense $20,278
Salaries and employee benefits $9,492
Premises and equipment expense $2,441
Additional noninterest expense $8,345
Pre-tax net operating income -$7,539
Securities gains (losses) $653
Applicable income taxes $19
Income before extraordinary items -$6,905
Extraordinary gains - net $0
Net income attributable to bank -$6,905
Net charge-offs $0
Cash dividends -$6,905
Sale, conversion, retirement of capital stock, net $10,876
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 assets4.12%
Cost of funding earning assets 1.12%
Net interest margin 2.99%
Noninterest income to earning assets 2.84%
Noninterest expense to earning assets 5.83%
Net operating income to assets -1.94%
Return on assets (ROA) -1.77%
Pretax return on assets -1.76%
Return on equity (ROE) -22.94%
Retained earnings to average equity (YTD only) -22.94%
Net charge-offs to loans 3.85%
Credit loss provision to net charge-offs 69.42%
Efficiency ratio0.00%
Assets per employee$99,823
Cash dividends to net income (YTD only)2.83%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.76%
Noncurrent assets plus other real estate owned to assets 28.89%
Noncurrent loans to loans 7.15%
Net loans and leases to deposits6.08%
Net loans and leases to core deposits 102.87%
Equity capital to assets 107.01%
Core capital (leverage) ratio 7.54%
Tier 1 risk-based capital ratio 6.88%
Total risk-based capital ratio 9.87%
Average assets$11
Average earning assets$390,237
Average equity $30,097
Average loans $347,829
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5 South Carolina Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0423465Coastalstates Bank5 Bow Circle, Hilton Head Island, SC 29928August 09, 2004Full Service Brick and Mortar
1441362Main Street Branch98 Main Street, Hilton Head Island, SC 29926June 03, 2005Full Service Brick and Mortar
2441363New Orleans Road Branch18 New Orleans Road, Hilton Head Island, SC 29928June 03, 2005Limited Service Loan Production
3457866Bluffton Village Branch7 Thurmond Way, Bluffton, SC 29910December 26, 2006Full Service Brick and Mortar
4462477Sun City Branch30 William Pope Drive, Bluffton, SC 29910April 16, 2007Full Service Brick and Mortar
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