Community Bank & Trust in Cornelia, Georgia (GA)



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Community Bank & Trust
GeneralFDIC Certificate #: 5702
Status: Inactive
Closing history: Corrections
Acquiring institution: SCBT National Association (#13425)
Federal Reserve ID: 184937
Date Established: August 03, 1900
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 42 (Interstate: No)
OTS Docket #: 12087
FDIC's unique #: 3886
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: January 29, 2010
Last Structure Change Process Date: Febuary 01, 2010
Last Data Update: Febuary 01, 2010
Data Source Date: April 05, 2012
LocationAddress: 448 North Main Street, Cornelia, GA 30531
County: Habersham
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Atlanta
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Core Based Statistical Area (CBSA): Cornelia, GA (#18460)
CBSA Micro Statistical Area: Yes
History of ChangesAbsorption - Assisted
Corrections
Financial SummaryTotal assets: $1,181.7 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, 2009)
(Dollar figures in thousands)
Total employees (full-time equivalent)384
Total assets$1,181,717
Cash and due from depository institutions$128,406
Interest-bearing balances$104,178
Securities$112,419
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$839,833
Loan loss allowance $35,493
Trading account assets$0
Bank premises and fixed assets$24,141
Other real estate owned$43,323
Goodwill and other intangibles$68
All other assets$33,527
Life insurance assets$392
Total liabilities and capital$1,181,717
Total liabilities$1,162,831
Total deposits$1,067,957
Interest-bearing deposits$1,027,892
Deposits held in domestic offices$1,067,957
% insured (estimated)85.56%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $80,250
Subordinated debt $0
All other liabilities $14,624
Total equity capital$18,886
Total bank equity capital$18,886
Perpetual preferred stock$18,886
Common stock$0
Surplus$500
Undivided profits $51,700
Memoranda
Noncurrent loans and leases $-33,314
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $40,095
Income earned, not collected on loans $0
Earning assets $225,968
Long-term assets (5+ years) $0
Average Assets, year-to-date $7,647
Average Assets, quarterly $1,056,430
Volatile liabilities $75,331
Insider loans $1,248,880
FHLB advances $1,196,372
Loans and leases held for sale $286,643
Unused loan commitments $6,900
Tier 1 (core) risk-based capital $80,250
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $40,095
Restructured Loans and leases $9,929
Derivatives$11,521
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Income and Expense (December 31, 2009)
(Dollar figures in thousands)
Total interest income $50,150
Total interest expense $30,469
Net interest income $19,681
Provision for loan and lease losses $55,723
Total noninterest income $18,175
Fiduciary activities $297
Service charges on deposit accounts $8,115
Trading account gains & fees $0
Additional noninterest income $9,763
Total noninterest expense $46,989
Salaries and employee benefits $17,739
Premises and equipment expense $6,430
Additional noninterest expense $22,820
Pre-tax net operating income -$64,856
Securities gains (losses) $1,861
Applicable income taxes -$4,014
Income before extraordinary items -$58,981
Extraordinary gains - net $0
Net income attributable to bank -$58,981
Net charge-offs $0
Cash dividends -$58,981
Sale, conversion, retirement of capital stock, net $40,989
Net operating income $0
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Performance and Condition Ratios (December 31, 2009)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.44%
Cost of funding earning assets 2.70%
Net interest margin 1.74%
Noninterest income to earning assets 1.61%
Noninterest expense to earning assets 4.16%
Net operating income to assets -4.86%
Return on assets (ROA) -4.72%
Pretax return on assets -5.04%
Return on equity (ROE) -110.64%
Retained earnings to average equity (YTD only) -110.64%
Net charge-offs to loans 4.36%
Credit loss provision to net charge-offs 135.95%
Efficiency ratio-0.22%
Assets per employee$123,827
Cash dividends to net income (YTD only)3.08%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 4.05%
Noncurrent assets plus other real estate owned to assets 15.71%
Noncurrent loans to loans 22.79%
Net loans and leases to deposits25.82%
Net loans and leases to core deposits 78.64%
Equity capital to assets 107.49%
Core capital (leverage) ratio 1.60%
Tier 1 risk-based capital ratio 1.79%
Total risk-based capital ratio 2.40%
Memoranda
Average assets$4
Average earning assets$1,248,880
Average equity $53,310
Average loans $1,129,105
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Total Fiduciary and Related Assets (December 31, 2009)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$73,342
Number of Accounts1
Personal trust and agency accounts$19,858
Employee benefit-defined contribution accounts$18,526
Employee benefit-defined benefit accounts$452
Other retirement accounts$0
Corporate trust and agency accounts$236
Investment management agency accounts$0
Other fiduciary accounts$644
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts670
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$236
Employee benefit-defined benefit accounts$0
Other retirement accounts$53,484
Corporate trust and agency accounts$0
Other fiduciary accounts$477
Fiduciary accounts held in foreign offices$53,007
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