Community Bank of Rowan in Salisbury, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of Febuary 01, 2012

  • Community Bank of Rowan in Salisbury, North Carolina (NC)
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Community Bank of Rowan - Overview

  • General
  • FDIC Certificate #: 58250
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: VantageSouth Bank (#58136)
    Federal Reserve ID: 3394018
    Bank Holding Company (Regulatory Top Holder): Piedmont Community Bank Holdings, Inc. (RSSDID: 3954720, Location: Raleigh, NC)
    Date Established: Febuary 21, 2006
    WWW: http://www.communitybankofrowan.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 444498
    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: Febuary 21, 2006
    Last Structure Change Effective Date: Febuary 01, 2012
    Last Structure Change Process Date: Febuary 14, 2012
    Last Data Update: Febuary 14, 2012
    Data Source Date: April 05, 2012
  • Location
  • Address: 322 East Innes Street, Salisbury, NC 28144
    County: Rowan
    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): Salisbury, NC (#41580)
    CBSA Micro Statistical Area: Yes
  • Financial Summary
  • Total assets: $144.5 mil
    Equity capital: $17.6 mil
    Deposits held in domestic offices: $122.3 mil
    Return on assets (ROA): 0.74% ($1.1 mil)
    Quarterly return on assets: 0.06% ($0.1 mil)
    Return on Equity (ROE): 7.30% ($1.3 mil)
    Quarterly return on equity: 0.48% ($0.1 mil)
    Net income: $1.0 mil
    Quarterly Net income: $0.0 mil
    Pretax return on assets: 1.20% ($1,734.5 mil)
    Quarterly Pretax return on assets: 0.10% ($144.5 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
  • 23Total employees (full-time equivalent)
  • $144,544Total assets
  • $7,672Cash and due from depository institutions
  • $5,890Interest-bearing balances
  • $13,690Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $108,440Net loans & leases
  • $468Loan loss allowance
  • $0Trading account assets
  • $2,661Bank premises and fixed assets
  • $1,957Other real estate owned
  • $3,414Goodwill and other intangibles
  • $144,544Life insurance assets
  • $6,710All other assets
  • $126,899Total liabilities and capital
  • $122,345Total liabilities
  • $109,367Total deposits
  • $122,345Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $4,000Trading liabilities
  • $0Other borrowed funds
  • $554Subordinated debt
  • $17,645All other liabilities
  • $17,645Total equity capital
  • $17,645Total bank equity capital
  • $0Perpetual preferred stock
  • $6,924Common stock
  • $9,594Surplus
  • $1,127Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,076Income earned, not collected on loans
  • $13Earning assets
  • $513Long-term assets (5+ years)
  • $128,020Average Assets, year-to-date
  • $35,118Average Assets, quarterly
  • $142,407Volatile liabilities
  • $145,972Insider loans
  • $107,317FHLB advances
  • $139,245Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $13,530Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $12,736Restructured Loans and leases
  • $7,606Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,732Total interest income
  • $1,191Total interest expense
  • $5,541Net interest income
  • $1,137Provision for loan and lease losses
  • $1,071Total noninterest income
  • $0Fiduciary activities
  • $114Service charges on deposit accounts
  • $0Trading account gains & fees
  • $957Additional noninterest income
  • $3,760Total noninterest expense
  • $1,777Salaries and employee benefits
  • $301Premises and equipment expense
  • $1,682Additional noninterest expense
  • $1,715Pre-tax net operating income
  • $0Securities gains (losses)
  • $666Applicable income taxes
  • $1,049Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,049Net income attributable to bank
  • $0Net charge-offs
  • $1,049Cash dividends
  • $2,400Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.20%Yield on earning assets
  • 0.92%Cost of funding earning assets
  • 4.28%Net interest margin
  • 0.83%Noninterest income to earning assets
  • 2.91%Noninterest expense to earning assets
  • 0.74%Net operating income to assets
  • 0.74%Return on assets (ROA)
  • 1.20%Pretax return on assets
  • 7.30%Return on equity (ROE)
  • 7.30%Retained earnings to average equity (YTD only)
  • 2.38%Net charge-offs to loans
  • 47.38%Credit loss provision to net charge-offs
  • 1.19%Efficiency ratio
  • 56,866Assets per employee
  • 6.28%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.43%Loss allowance to noncurrent loans
  • 22.54%Noncurrent assets plus other real estate owned to assets
  • 2.79%Noncurrent loans to loans
  • 1.91%Net loans and leases to deposits
  • 88.63%Net loans and leases to core deposits
  • 108.81%Equity capital to assets
  • 12.21%Core capital (leverage) ratio
  • 9.72%Tier 1 risk-based capital ratio
  • 12.61%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $142,407Average earning assets
  • $14,378Average equity
  • $129,429Average loans

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