First Federal Bank in Spartanburg, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 17, 2001

  • First Federal Bank in Spartanburg, South Carolina (SC)
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First Federal Bank - Overview

  • General
  • FDIC Certificate #: 29333
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Branch Banking and Trust Company of South Carolina (#21098)
    Federal Reserve ID: 65773
    Date Established: January 01, 1934
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 3295
    FDIC's unique #: 42167
    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 04, 1935
    Last Structure Change Effective Date: September 17, 2001
    Last Structure Change Process Date: November 19, 2001
    Last Data Update: November 19, 2001
    Data Source Date: April 05, 2012
  • Location
  • Address: 380 East Main Street, Spartanburg, SC 29302
    County: Spartanburg
    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): Greenville-Spartanburg-Anderson, SC (#3160)
    Combined Statistical Area (CSA): Greenville-Spartanburg-Anderson, SC (#273)
    Core Based Statistical Area (CBSA): Spartanburg, SC (#43900)
    CBSA Metro Statistical Area: Spartanburg, SC (#43900)
  • Financial Summary
  • Total assets: $619.8 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, 2000)

  • Dollar figures in thousands
  • 134Total employees (full-time equivalent)
  • $592,822Total assets
  • $16,850Cash and due from depository institutions
  • $3,150Interest-bearing balances
  • $30,641Securities
  • $280Federal funds sold & reverse repurchase agreements
  • $517,380Net loans & leases
  • $3,686Loan loss allowance
  • $0Trading account assets
  • $10,400Bank premises and fixed assets
  • $969Other real estate owned
  • $1,257Goodwill and other intangibles
  • $0Life insurance assets
  • $15,045All other assets
  • $592,822Total liabilities and capital
  • $530,472Total liabilities
  • $436,659Total deposits
  • $408,631Interest-bearing deposits
  • $436,659Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $86,624Other borrowed funds
  • $0Subordinated debt
  • $7,189All other liabilities
  • $62,350Total equity capital
  • $62,350Total bank equity capital
  • $62,350Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $44,361Undivided profits
  • Memoranda
  • $17,989Noncurrent loans and leases
  • $89,987Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $5,841Earning assets
  • $0Long-term assets (5+ years)
  • $3,554Average Assets, year-to-date
  • $551,451Average Assets, quarterly
  • $0Volatile liabilities
  • $579,157Insider loans
  • $595,621FHLB advances
  • $173,733Loans and leases held for sale
  • $528Unused loan commitments
  • $81,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $89,987Total unused commitments
  • $2,643Restructured Loans and leases
  • $3,686Derivatives

Income and Expense (December 31, 2000)

  • Dollar figures in thousands
  • $43,419Total interest income
  • $24,823Total interest expense
  • $18,596Net interest income
  • $717Provision for loan and lease losses
  • $4,998Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $4,998Additional noninterest income
  • $13,048Total noninterest expense
  • $7,910Salaries and employee benefits
  • $2,249Premises and equipment expense
  • $2,889Additional noninterest expense
  • $9,829Pre-tax net operating income
  • $271Securities gains (losses)
  • $3,457Applicable income taxes
  • $6,643Income before extraordinary items
  • $0Extraordinary gains - net
  • $6,643Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $157Sale, conversion, retirement of capital stock, net
  • $7,000Net operating income

Performance and Condition Ratios (December 31, 2000)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 8.04%Yield on earning assets
  • 4.59%Cost of funding earning assets
  • 3.44%Net interest margin
  • 0.93%Noninterest income to earning assets
  • 2.42%Noninterest expense to earning assets
  • 1.12%Net operating income to assets
  • 1.15%Return on assets (ROA)
  • 1.74%Pretax return on assets
  • 11.04%Return on equity (ROE)
  • -0.59%Retained earnings to average equity (YTD only)
  • 0.03%Net charge-offs to loans
  • 456.69%Credit loss provision to net charge-offs
  • 67.17%Efficiency ratio
  • 55,302Assets per employee
  • 4.42%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 105.37%Loss allowance to loans
  • 0.71%Loss allowance to noncurrent loans
  • 63.11%Noncurrent assets plus other real estate owned to assets
  • 1.14%Noncurrent loans to loans
  • 1.12%Net loans and leases to deposits
  • 118.49%Net loans and leases to core deposits
  • 148.01%Equity capital to assets
  • 10.52%Core capital (leverage) ratio
  • 10.52%Tier 1 risk-based capital ratio
  • 15.07%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $579,157Average earning assets
  • $60,199Average equity
  • $540,272Average loans

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