CresCom Bank in Charleston, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • CresCom Bank in Charleston, South Carolina (SC)
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CresCom Bank routing number info

CresCom Bank - Overview

  • General
  • FDIC Certificate #: 57135
    Status: Active
    Federal Reserve ID: 3013823
    Bank Holding Company (Regulatory Top Holder): Carolina Financial Corporation (RSSDID: 2507790, Location: Charleston, SC)
    Date Established: July 02, 2001
    WWW: http://www.haveanicebank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 10 (Domestic: 10, Interstate: No)
    FDIC's unique #: 358444
    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: July 02, 2001
    Last Structure Change Effective Date: December 15, 2011
    Last Structure Change Process Date: December 16, 2011
    Last Data Update: December 16, 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)
  • History of Changes
  • Change in Location
  • Financial Summary
  • Total assets: $825.2 mil
    Equity capital: $63.1 mil
    Deposits held in domestic offices: $627.6 mil
    Return on assets (ROA): -0.07% (-$0.6 mil)
    Quarterly return on assets: -0.42% (-$3.5 mil)
    Return on Equity (ROE): -0.93% (-$0.6 mil)
    Quarterly return on equity: -5.48% (-$3.5 mil)
    Net income: -$0.6 mil
    Quarterly Net income: -$0.9 mil
    Pretax return on assets: -0.06% (-$495.1 mil)
    Quarterly Pretax return on assets: -0.56% (-$4,621.3 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
  • 215Total employees (full-time equivalent)
  • $825,231Total assets
  • $20,805Cash and due from depository institutions
  • $9,454Interest-bearing balances
  • $146,342Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $593,722Net loans & leases
  • $12,039Loan loss allowance
  • $0Trading account assets
  • $15,559Bank premises and fixed assets
  • $6,097Other real estate owned
  • $6,452Goodwill and other intangibles
  • $825,231Life insurance assets
  • $36,254All other assets
  • $762,097Total liabilities and capital
  • $627,575Total liabilities
  • $558,897Total deposits
  • $627,575Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 1.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $112,984Trading liabilities
  • $12,475Other borrowed funds
  • $9,062Subordinated debt
  • $63,134All other liabilities
  • $63,134Total equity capital
  • $63,134Total bank equity capital
  • $0Perpetual preferred stock
  • $6Common stock
  • $39,907Surplus
  • $23,221Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $80,003Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $34,159Income earned, not collected on loans
  • $0Earning assets
  • $3,063Long-term assets (5+ years)
  • $749,518Average Assets, year-to-date
  • $202,178Average Assets, quarterly
  • $866,568Volatile liabilities
  • $834,200Insider loans
  • $649,856FHLB advances
  • $834,173Loans and leases held for sale
  • $1,098Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $68,354Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $1,098Total unused commitments
  • $29,324Restructured Loans and leases
  • $20,761Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $38,625Total interest income
  • $10,398Total interest expense
  • $28,227Net interest income
  • $10,735Provision for loan and lease losses
  • $21,934Total noninterest income
  • $0Fiduciary activities
  • $1,610Service charges on deposit accounts
  • $0Trading account gains & fees
  • $20,324Additional noninterest income
  • $38,334Total noninterest expense
  • $16,368Salaries and employee benefits
  • $2,216Premises and equipment expense
  • $19,750Additional noninterest expense
  • $1,092Pre-tax net operating income
  • -$1,590Securities gains (losses)
  • $103Applicable income taxes
  • -$601Income before extraordinary items
  • $0Extraordinary gains - net
  • -$601Net income attributable to bank
  • $0Net charge-offs
  • -$601Cash dividends
  • $12,959Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.93%Yield on earning assets
  • 1.33%Cost of funding earning assets
  • 3.60%Net interest margin
  • 2.80%Noninterest income to earning assets
  • 4.89%Noninterest expense to earning assets
  • 0.11%Net operating income to assets
  • -0.07%Return on assets (ROA)
  • -0.06%Pretax return on assets
  • -0.93%Return on equity (ROE)
  • -0.93%Retained earnings to average equity (YTD only)
  • 2.09%Net charge-offs to loans
  • 82.84%Credit loss provision to net charge-offs
  • 0.91%Efficiency ratio
  • 76,422Assets per employee
  • 3.84%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.99%Loss allowance to noncurrent loans
  • 35.24%Noncurrent assets plus other real estate owned to assets
  • 4.88%Noncurrent loans to loans
  • 5.64%Net loans and leases to deposits
  • 94.61%Net loans and leases to core deposits
  • 100.05%Equity capital to assets
  • 7.65%Core capital (leverage) ratio
  • 8.19%Tier 1 risk-based capital ratio
  • 10.52%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $866,568Average earning assets
  • $64,413Average equity
  • $783,713Average loans

List of branches

  • 10 South Carolina Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    0358444Crescom Bank288 Meeting Street, Charleston, SC 29401July 02, 2001Full Service Brick and Mortar
    1418456North Myrtle Beach Branch700 Main Street, North Myrtle Beach, SC 29582Febuary 25, 2003Full Service Brick and Mortar
    2442400Conway Branch2069 East Hwy 501, Conway, SC 29526June 29, 2005Full Service Brick and Mortar
    3453837Garden City Branch2636 Highway 17 South, Murrells Inlet, SC 29576April 05, 2006Full Service Brick and Mortar
    457094Charleston Branch288 Meeting Street, Charleston, SC 29401April 25, 1997Full Service Brick and Mortar
    5290545Mount Pleasant Branch1492 Stuart Engals Boulevard, Mount Pleasant, SC 29464December 21, 1998Full Service Brick and Mortar
    6359821West Ashley Branch884 Orleans Road, Charleston, SC 29407March 07, 2001Full Service Brick and Mortar
    7366074Summerville Branch200 North Cedar Street, Summerville, SC 29483October 15, 2002Full Service Brick and Mortar
    8437787James Island Branch430 Folly Road, Charleston, SC 29412January 24, 2005Full Service Brick and Mortar
    9465916North Charleston Branch8485 Dorchester Road, North Charleston, SC 29418October 03, 2006Full Service Brick and Mortar

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