Community FirstBank of Charleston in Charleston, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of August 01, 2011

  • Community FirstBank of Charleston in Charleston, South Carolina (SC)
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Community FirstBank of Charleston - Overview

  • General
  • FDIC Certificate #: 34335
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: CresCom Bank (#57135)
    Federal Reserve ID: 2507802
    Date Established: April 25, 1997
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 6 (Interstate: No)
    FDIC's unique #: 57094
    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: April 25, 1997
    Last Structure Change Effective Date: August 01, 2011
    Last Structure Change Process Date: August 08, 2011
    Last Data Update: August 08, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 288 Meeting Street, Charleston, SC 29401
    County: Charleston
    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): Charleston-North Charleston, SC (#1440)
    Core Based Statistical Area (CBSA): Charleston-North Charleston-Summerville, SC (#16700)
    CBSA Metro Statistical Area: Charleston-North Charleston-Summerville, SC (#16700)
  • Financial Summary
  • Total assets: $506.6 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, 2010)

  • Dollar figures in thousands
  • 163Total employees (full-time equivalent)
  • $563,201Total assets
  • $6,551Cash and due from depository institutions
  • $3,161Interest-bearing balances
  • $100,537Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $408,225Net loans & leases
  • $7,995Loan loss allowance
  • $0Trading account assets
  • $10,437Bank premises and fixed assets
  • $5,692Other real estate owned
  • $5,249Goodwill and other intangibles
  • $732Life insurance assets
  • $26,510All other assets
  • $563,201Total liabilities and capital
  • $521,767Total liabilities
  • $397,854Total deposits
  • $361,467Interest-bearing deposits
  • $397,854Deposits held in domestic offices
  • 93.48%% insured (estimated)
  • $1Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $109,759Other borrowed funds
  • $5,000Subordinated debt
  • $9,153All other liabilities
  • $41,434Total equity capital
  • $41,434Total bank equity capital
  • $41,434Perpetual preferred stock
  • $0Common stock
  • $6Surplus
  • $22,026Undivided profits
  • Memoranda
  • $19,402Noncurrent loans and leases
  • $22,959Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $36,222Earning assets
  • $0Long-term assets (5+ years)
  • $2,042Average Assets, year-to-date
  • $511,923Average Assets, quarterly
  • $151,406Volatile liabilities
  • $584,898Insider loans
  • $573,241FHLB advances
  • $69,166Loans and leases held for sale
  • $12,193Unused loan commitments
  • $95,500Tier 1 (core) risk-based capital
  • $372,114Tier 2 risk-based capital
  • $80,421Total risk weighted assets
  • $22,959Total unused commitments
  • $5,421Restructured Loans and leases
  • $10,287Derivatives

Income and Expense (December 31, 2010)

  • Dollar figures in thousands
  • $26,932Total interest income
  • $9,041Total interest expense
  • $17,891Net interest income
  • $10,230Provision for loan and lease losses
  • $26,359Total noninterest income
  • $0Fiduciary activities
  • $1,209Service charges on deposit accounts
  • $0Trading account gains & fees
  • $25,150Additional noninterest income
  • $30,190Total noninterest expense
  • $13,108Salaries and employee benefits
  • $1,686Premises and equipment expense
  • $15,396Additional noninterest expense
  • $3,830Pre-tax net operating income
  • -$4,455Securities gains (losses)
  • $168Applicable income taxes
  • -$793Income before extraordinary items
  • $0Extraordinary gains - net
  • -$793Net income attributable to bank
  • $0Net charge-offs
  • -$793Cash dividends
  • $8,552Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2010)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.01%Yield on earning assets
  • 1.68%Cost of funding earning assets
  • 3.33%Net interest margin
  • 4.90%Noninterest income to earning assets
  • 5.62%Noninterest expense to earning assets
  • 0.63%Net operating income to assets
  • -0.14%Return on assets (ROA)
  • -0.11%Pretax return on assets
  • -1.91%Return on equity (ROE)
  • -1.91%Retained earnings to average equity (YTD only)
  • 2.12%Net charge-offs to loans
  • 119.62%Credit loss provision to net charge-offs
  • 1.64%Efficiency ratio
  • 68,226Assets per employee
  • 3.46%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.92%Loss allowance to noncurrent loans
  • 22.07%Noncurrent assets plus other real estate owned to assets
  • 7.44%Noncurrent loans to loans
  • 8.70%Net loans and leases to deposits
  • 102.61%Net loans and leases to core deposits
  • 107.95%Equity capital to assets
  • 7.36%Core capital (leverage) ratio
  • 7.63%Tier 1 risk-based capital ratio
  • 10.56%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $584,898Average earning assets
  • $41,495Average equity
  • $537,646Average loans

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