First Community Bank in Gastonia, North Carolina (NC)

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First Community Bank
GeneralFDIC Certificate #: 27049
Status: Inactive
Closing history: Office Sold
Acquiring institution: RBC Bank (USA) (#33184)
Federal Reserve ID: 527422
Date Established: September 15, 1987
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Interstate: No)
FDIC's unique #: 38561
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: September 15, 1987
Last Structure Change Effective Date: August 19, 1996
Last Structure Change Process Date: September 12, 1996
Last Data Update: September 12, 1996
Data Source Date: April 05, 2012
LocationAddress: 100 East Garrison Boulevard, Gastonia, NC 28052
County: Gaston
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)
History of ChangesMerger - Without Assistance
Office Sold
Financial SummaryTotal assets: $123.3 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$65
Cash and due from depository institutions$117,652
Interest-bearing balances$3,725
Federal funds sold & reverse repurchase agreements$27,950
Net loans & leases$5,025
Loan loss allowance $76,443
Trading account assets$1,320
Bank premises and fixed assets$0
Other real estate owned$2,384
Goodwill and other intangibles$0
All other assets$0
Life insurance assets$2,125
Total liabilities and capital$0
Total liabilities$117,652
Total deposits$105,989
Interest-bearing deposits$99,322
Deposits held in domestic offices$85,952
% insured (estimated)99322.00%
Federal funds purchased & repurchase agreements $93
Trading liabilities$6,022
Other borrowed funds $0
Subordinated debt $0
All other liabilities $0
Total equity capital$645
Total bank equity capital$645
Perpetual preferred stock$11,663
Common stock$0
Undivided profits $4,186
Noncurrent loans and leases $4,272
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $783
Earning assets $500
Long-term assets (5+ years) $109,418
Average Assets, year-to-date $2,747
Average Assets, quarterly $109,834
Volatile liabilities $115,004
Insider loans $12,404
FHLB advances $3,702
Loans and leases held for sale $0
Unused loan commitments $324
Tier 1 (core) risk-based capital $18,362
Tier 2 risk-based capital $0
Total risk weighted assets $11,712
Total unused commitments $87,506
Restructured Loans and leases $0
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Income and Expense (December 31, 1995)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $9,178
Net interest income $4,059
Provision for loan and lease losses $5,119
Total noninterest income $577
Fiduciary activities $754
Service charges on deposit accounts $0
Trading account gains & fees $462
Additional noninterest income $0
Total noninterest expense $292
Salaries and employee benefits $3,410
Premises and equipment expense $2,050
Additional noninterest expense $415
Pre-tax net operating income $945
Securities gains (losses) $1,886
Applicable income taxes $0
Income before extraordinary items $542
Extraordinary gains - net $1,344
Net income attributable to bank $0
Net charge-offs $1,344
Cash dividends $382
Sale, conversion, retirement of capital stock, net $161
Net operating income $94
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Performance and Condition Ratios (December 31, 1995)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 8.99%
Net interest margin 3.97%
Noninterest income to earning assets 5.01%
Noninterest expense to earning assets 0.74%
Net operating income to assets 3.34%
Return on assets (ROA) 1.22%
Pretax return on assets 1.22%
Return on equity (ROE) 1.72%
Retained earnings to average equity (YTD only) 12.41%
Net charge-offs to loans 10.92%
Credit loss provision to net charge-offs 0.53%
Efficiency ratio151.05%
Assets per employee$58,062
Cash dividends to net income (YTD only)1.81%
Condition Ratios (%)
Loss allowance to loans 11.98%
Loss allowance to noncurrent loans 1.70%
Noncurrent assets plus other real estate owned to assets 168.58%
Noncurrent loans to loans 0.67%
Net loans and leases to deposits1.01%
Net loans and leases to core deposits 76.96%
Equity capital to assets 82.25%
Core capital (leverage) ratio 9.91%
Tier 1 risk-based capital ratio 10.16%
Total risk-based capital ratio 13.38%
Average assets$15
Average earning assets$109,834
Average equity $10,833
Average loans $102,136
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