First Charter Bank in Charlotte, North Carolina (NC)



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First Charter Bank
GeneralFDIC Certificate #: 4886
Status: Inactive
Closing history: Absorption - Without Assistance
Acquiring institution: Fifth Third Bank, National Association (#32712)
Federal Reserve ID: 45627
Date Established: July 05, 1888
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 61 (Interstate: No)
OTS Docket #: 10664
FDIC's unique #: 3250
Numeric code: 13
Regulator: FED
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: January 01, 1934
Last Structure Change Effective Date: June 07, 2008
Last Structure Change Process Date: June 16, 2008
Last Data Update: June 16, 2008
Data Source Date: April 05, 2012
LocationAddress: 10200 David Taylor Drive, Charlotte, NC 28262
County: Mecklenburg
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): Charlotte-Gastonia-Rock Hill, NC-SC (#16740)
CBSA Metro Statistical Area: Charlotte-Gastonia-Rock Hill, NC-SC (#16740)
Financial SummaryTotal assets: $4,787.6 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, 2007)
(Dollar figures in thousands)
Total employees (full-time equivalent)1,082
Total assets$4,854,243
Cash and due from depository institutions$91,271
Interest-bearing balances$5,709
Securities$859,155
Federal funds sold & reverse repurchase agreements$10,926
Net loans & leases$3,474,737
Loan loss allowance $42,414
Trading account assets$0
Bank premises and fixed assets$108,709
Other real estate owned$10,056
Goodwill and other intangibles$84,254
All other assets$215,135
Life insurance assets$97,096
Total liabilities and capital$4,854,243
Total liabilities$4,354,921
Total deposits$3,305,637
Interest-bearing deposits$3,131,217
Deposits held in domestic offices$3,305,637
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $268,233
Trading liabilities$0
Other borrowed funds $725,871
Subordinated debt $0
All other liabilities $55,180
Total equity capital$499,322
Total bank equity capital$499,322
Perpetual preferred stock$499,322
Common stock$0
Surplus$5,665
Undivided profits $276,739
Memoranda
Noncurrent loans and leases $216,918
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $1,398,077
Income earned, not collected on loans $0
Earning assets $28,694
Long-term assets (5+ years) $0
Average Assets, year-to-date $24,388
Average Assets, quarterly $4,350,527
Volatile liabilities $1,117,655
Insider loans $4,867,625
FHLB advances $4,844,117
Loans and leases held for sale $1,140,225
Unused loan commitments $5,199
Tier 1 (core) risk-based capital $725,871
Tier 2 risk-based capital $0
Total risk weighted assets $14,145
Total unused commitments $1,398,077
Restructured Loans and leases $0
Derivatives$42,414
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Income and Expense (December 31, 2007)
(Dollar figures in thousands)
Total interest income $309,787
Total interest expense $157,787
Net interest income $152,000
Provision for loan and lease losses $19,945
Total noninterest income $78,297
Fiduciary activities $3,496
Service charges on deposit accounts $30,893
Trading account gains & fees $50
Additional noninterest income $43,858
Total noninterest expense $142,001
Salaries and employee benefits $79,360
Premises and equipment expense $17,528
Additional noninterest expense $45,113
Pre-tax net operating income $68,351
Securities gains (losses) -$145
Applicable income taxes $23,251
Income before extraordinary items $44,955
Extraordinary gains - net $0
Net income attributable to bank $44,955
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $12,497
Net operating income $28,000
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Performance and Condition Ratios (December 31, 2007)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets7.12%
Cost of funding earning assets 3.62%
Net interest margin 3.49%
Noninterest income to earning assets 1.80%
Noninterest expense to earning assets 3.26%
Net operating income to assets 0.93%
Return on assets (ROA) 0.92%
Pretax return on assets 1.40%
Return on equity (ROE) 9.27%
Retained earnings to average equity (YTD only) 3.50%
Net charge-offs to loans 0.35%
Credit loss provision to net charge-offs 159.60%
Efficiency ratio7.07%
Assets per employee$61,183
Cash dividends to net income (YTD only)4.49%
Condition Ratios (%)
Loss allowance to loans 62.28%
Loss allowance to noncurrent loans 1.21%
Noncurrent assets plus other real estate owned to assets 147.81%
Noncurrent loans to loans 0.80%
Net loans and leases to deposits0.82%
Net loans and leases to core deposits 105.12%
Equity capital to assets 129.94%
Core capital (leverage) ratio 10.29%
Tier 1 risk-based capital ratio 8.83%
Total risk-based capital ratio 10.47%
Memoranda
Average assets$12
Average earning assets$4,867,625
Average equity $484,942
Average loans $4,352,768
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Total Fiduciary and Related Assets (December 31, 2007)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$392,275
Number of Accounts1
Personal trust and agency accounts$299,318
Employee benefit-defined contribution accounts$132,599
Employee benefit-defined benefit accounts$2,062
Other retirement accounts$0
Corporate trust and agency accounts$16,392
Investment management agency accounts$0
Other fiduciary accounts$148,265
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts420
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$92,957
Corporate trust and agency accounts$2,502
Other fiduciary accounts$89,679
Fiduciary accounts held in foreign offices$10
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