FDIC Certificate #: 27837 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:First Bank (#15019) Federal Reserve ID: 642370 Date Established: January 01, 1898 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 25 (Interstate: No) OTS Docket #: 366 FDIC's unique #: 40671 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: September 23, 1940 Last Structure Change Effective Date: June 20, 2009 Last Structure Change Process Date: June 24, 2009 Last Data Update: June 24, 2009 Data Source Date: April 05, 2012
Location
Address: 201 Market Street, Wilmington, NC 28401 County: New Hanover Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Raleigh Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Southeast Metropolitan Statistical Area (MSA): Wilmington, NC (#9200) Core Based Statistical Area (CBSA): Wilmington, NC (#48900) CBSA Metro Statistical Area: Wilmington, NC (#48900)
Financial Summary
Total assets: $966.8 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2008)
Dollar figures in thousands
231Total employees (full-time equivalent)
$950,491Total assets
$7,901Cash and due from depository institutions
$426Interest-bearing balances
$33,602Securities
$0Federal funds sold & reverse repurchase agreements
$851,949Net loans & leases
$36,262Loan loss allowance
$0Trading account assets
$14,653Bank premises and fixed assets
$11,104Other real estate owned
$358Goodwill and other intangibles
$11,618Life insurance assets
$30,924All other assets
$950,491Total liabilities and capital
$915,578Total liabilities
$696,321Total deposits
$657,824Interest-bearing deposits
$696,321Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$214,183Other borrowed funds
$0Subordinated debt
$5,074All other liabilities
$34,913Total equity capital
$34,913Total bank equity capital
$34,913Perpetual preferred stock
$0Common stock
$6,589Surplus
$22,519Undivided profits
Memoranda
$5,805Noncurrent loans and leases
$122,084Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$80,489Earning assets
$0Long-term assets (5+ years)
$3,755Average Assets, year-to-date
$885,977Average Assets, quarterly
$85,069Volatile liabilities
$958,133Insider loans
$966,201FHLB advances
$351,969Loans and leases held for sale
$5,415Unused loan commitments
$148,059Tier 1 (core) risk-based capital
$18,409Tier 2 risk-based capital
$17,015Total risk weighted assets
$122,084Total unused commitments
$0Restructured Loans and leases
$10,052Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$56,858Total interest income
$31,652Total interest expense
$25,206Net interest income
$36,147Provision for loan and lease losses
$3,811Total noninterest income
$0Fiduciary activities
$1,725Service charges on deposit accounts
$0Trading account gains & fees
$2,086Additional noninterest income
$27,982Total noninterest expense
$12,895Salaries and employee benefits
$3,904Premises and equipment expense
$11,183Additional noninterest expense
-$35,112Pre-tax net operating income
-$9,630Securities gains (losses)
-$1,139Applicable income taxes
-$43,603Income before extraordinary items
$0Extraordinary gains - net
-$43,603Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$8,673Sale, conversion, retirement of capital stock, net
$1,553Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.37%Yield on earning assets
3.55%Cost of funding earning assets
2.82%Net interest margin
0.43%Noninterest income to earning assets
3.13%Noninterest expense to earning assets
-3.58%Net operating income to assets
-4.55%Return on assets (ROA)
-4.67%Pretax return on assets
-63.20%Return on equity (ROE)
-65.45%Retained earnings to average equity (YTD only)
1.01%Net charge-offs to loans
416.78%Credit loss provision to net charge-offs
0.12%Efficiency ratio
77,410Assets per employee
4.11%Cash dividends to net income (YTD only)
Condition Ratios (%)
-3.56%Loss allowance to loans
4.08%Loss allowance to noncurrent loans
45.05%Noncurrent assets plus other real estate owned to assets
9.64%Noncurrent loans to loans
9.06%Net loans and leases to deposits
122.35%Net loans and leases to core deposits
189.12%Equity capital to assets
3.67%Core capital (leverage) ratio
3.48%Tier 1 risk-based capital ratio
4.41%Total risk-based capital ratio
Memoranda
$6Average assets
$958,133Average earning assets
$68,992Average equity
$892,612Average loans
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