First Carolina Federal Savings Bank in Kings Mountain, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 02, 1999

  • First Carolina Federal Savings Bank in Kings Mountain, North Carolina (NC)
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First Carolina Federal Savings Bank - Overview

  • General
  • FDIC Certificate #: 28075
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: The First National Bank of Shelby (#4910)
    Federal Reserve ID: 838771
    Date Established: January 01, 1907
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 850
    FDIC's unique #: 40909
    Numeric code: 33
    Regulator: OTS
    Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
    FDIC Insured: Yes
    SAIF Insured: Yes
    Insured Savings Institution: Yes
    State Chartered: No
    Date of Deposit Insurance: Febuary 01, 1954
    Last Structure Change Effective Date: April 02, 1999
    Last Structure Change Process Date: April 13, 1999
    Last Data Update: April 13, 1999
    Data Source Date: April 05, 2012
  • Location
  • Address: 300 West Mountain Street, Kings Mountain, NC 28086
    County: Cleveland
    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
    Combined Statistical Area (CSA): Charlotte-Gastonia-Salisbury, NC-SC (#172)
    Core Based Statistical Area (CBSA): Shelby, NC (#43140)
    CBSA Micro Statistical Area: Yes
  • Financial Summary
  • Total assets: $95.9 mil

1992 - 1999 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, 1998)

  • Dollar figures in thousands
  • 33Total employees (full-time equivalent)
  • $95,366Total assets
  • $10,411Cash and due from depository institutions
  • $9,703Interest-bearing balances
  • $12,472Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $68,594Net loans & leases
  • $1,269Loan loss allowance
  • $0Trading account assets
  • $1,361Bank premises and fixed assets
  • $490Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $2,038All other assets
  • $95,366Total liabilities and capital
  • $87,854Total liabilities
  • $87,614Total deposits
  • $87,219Interest-bearing deposits
  • $87,614Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $240All other liabilities
  • $7,512Total equity capital
  • $7,512Total bank equity capital
  • $7,512Perpetual preferred stock
  • $0Common stock
  • $3Surplus
  • $1,089Undivided profits
  • Memoranda
  • $6,420Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $2,485Earning assets
  • $0Long-term assets (5+ years)
  • $388Average Assets, year-to-date
  • $90,769Average Assets, quarterly
  • $0Volatile liabilities
  • $97,069Insider loans
  • $95,078FHLB advances
  • $12,177Loans and leases held for sale
  • $186Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $5,090Total unused commitments
  • $0Restructured Loans and leases
  • $54,646Derivatives

Income and Expense (December 31, 1998)

  • Dollar figures in thousands
  • $7,072Total interest income
  • $4,525Total interest expense
  • $2,547Net interest income
  • $336Provision for loan and lease losses
  • $425Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $425Additional noninterest income
  • $2,311Total noninterest expense
  • $1,202Salaries and employee benefits
  • $393Premises and equipment expense
  • $716Additional noninterest expense
  • $325Pre-tax net operating income
  • $84Securities gains (losses)
  • $157Applicable income taxes
  • $252Income before extraordinary items
  • $0Extraordinary gains - net
  • $252Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $74Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1998)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.65%Yield on earning assets
  • 4.90%Cost of funding earning assets
  • 2.76%Net interest margin
  • 0.46%Noninterest income to earning assets
  • 2.50%Noninterest expense to earning assets
  • 0.20%Net operating income to assets
  • 0.26%Return on assets (ROA)
  • 0.42%Pretax return on assets
  • 3.44%Return on equity (ROE)
  • 3.44%Retained earnings to average equity (YTD only)
  • 0.10%Net charge-offs to loans
  • 454.05%Credit loss provision to net charge-offs
  • 8.93%Efficiency ratio
  • 77,759Assets per employee
  • 2.89%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.82%Loss allowance to noncurrent loans
  • 51.07%Noncurrent assets plus other real estate owned to assets
  • 2.81%Noncurrent loans to loans
  • 3.56%Net loans and leases to deposits
  • 78.29%Net loans and leases to core deposits
  • 90.93%Equity capital to assets
  • 7.88%Core capital (leverage) ratio
  • 7.31%Tier 1 risk-based capital ratio
  • 12.68%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $97,069Average earning assets
  • $7,328Average equity
  • $92,423Average loans

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