First Choice Community Bank 1874 in Newnan, Georgia (GA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 26, 2010

  • First Choice Community Bank 1874 in Newnan, Georgia (GA)
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First Choice Community Bank 1874 - Overview

  • General
  • FDIC Certificate #: 16574
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: First Choice Community Bank (#58539)
    Federal Reserve ID: 541437
    Date Established: January 01, 1889
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 7 (Interstate: No)
    OTS Docket #: 15578
    FDIC's unique #: 10721
    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: May 13, 1947
    Last Structure Change Effective Date: March 26, 2010
    Last Structure Change Process Date: March 30, 2010
    Last Data Update: March 30, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 1595 Highway 34 East, Newnan, GA 30265
    County: Coweta
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Atlanta
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Atlanta, GA (#520)
    Combined Statistical Area (CSA): Atlanta-Sandy Springs-Gainesville, GA-AL (#122)
    Core Based Statistical Area (CBSA): Atlanta-Sandy Springs-Marietta, GA (#12060)
    CBSA Metro Statistical Area: Atlanta-Sandy Springs-Marietta, GA (#12060)
  • Financial Summary
  • Total assets: $235.6 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, 2009)

  • Dollar figures in thousands
  • 50Total employees (full-time equivalent)
  • $235,591Total assets
  • $34,251Cash and due from depository institutions
  • $5,170Interest-bearing balances
  • $261Securities
  • $51Federal funds sold & reverse repurchase agreements
  • $184,352Net loans & leases
  • $2,705Loan loss allowance
  • $0Trading account assets
  • $4,689Bank premises and fixed assets
  • $6,356Other real estate owned
  • $69Goodwill and other intangibles
  • $1,319Life insurance assets
  • $5,562All other assets
  • $235,591Total liabilities and capital
  • $216,941Total liabilities
  • $216,454Total deposits
  • $202,198Interest-bearing deposits
  • $216,454Deposits held in domestic offices
  • 87.08%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $487All other liabilities
  • $18,650Total equity capital
  • $18,650Total bank equity capital
  • $18,650Perpetual preferred stock
  • $0Common stock
  • $433Surplus
  • $21,515Undivided profits
  • Memoranda
  • $-3,298Noncurrent loans and leases
  • $32,860Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $361Earning assets
  • $0Long-term assets (5+ years)
  • $954Average Assets, year-to-date
  • $189,834Average Assets, quarterly
  • $4,521Volatile liabilities
  • $226,432Insider loans
  • $235,933FHLB advances
  • $54,393Loans and leases held for sale
  • $8,561Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $352Total risk weighted assets
  • $32,860Total unused commitments
  • $4,276Restructured Loans and leases
  • $2,531Derivatives

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $11,437Total interest income
  • $5,921Total interest expense
  • $5,516Net interest income
  • $2,072Provision for loan and lease losses
  • -$1,249Total noninterest income
  • $0Fiduciary activities
  • $348Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$1,597Additional noninterest income
  • $6,485Total noninterest expense
  • $2,971Salaries and employee benefits
  • $995Premises and equipment expense
  • $2,519Additional noninterest expense
  • -$4,290Pre-tax net operating income
  • $24Securities gains (losses)
  • -$1,631Applicable income taxes
  • -$2,635Income before extraordinary items
  • $0Extraordinary gains - net
  • -$2,635Net income attributable to bank
  • $0Net charge-offs
  • -$2,635Cash dividends
  • $2,163Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.90%Yield on earning assets
  • 3.06%Cost of funding earning assets
  • 2.85%Net interest margin
  • -0.64%Noninterest income to earning assets
  • 3.35%Noninterest expense to earning assets
  • -1.17%Net operating income to assets
  • -1.16%Return on assets (ROA)
  • -1.88%Pretax return on assets
  • -14.02%Return on equity (ROE)
  • -14.02%Retained earnings to average equity (YTD only)
  • 1.15%Net charge-offs to loans
  • 95.79%Credit loss provision to net charge-offs
  • -1.03%Efficiency ratio
  • 147,973Assets per employee
  • 4.71%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.45%Loss allowance to noncurrent loans
  • 749.31%Noncurrent assets plus other real estate owned to assets
  • 2.85%Noncurrent loans to loans
  • 0.19%Net loans and leases to deposits
  • 85.17%Net loans and leases to core deposits
  • 113.75%Equity capital to assets
  • 7.92%Core capital (leverage) ratio
  • 7.47%Tier 1 risk-based capital ratio
  • 8.80%Total risk-based capital ratio
  • Memoranda
  • $10Average assets
  • $226,432Average earning assets
  • $18,790Average equity
  • $193,700Average loans

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