First Federal Savings and Loan Association of Anderson in Anderson, South Carolina (SC)



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First Federal Savings and Loan Association of Anderson
GeneralFDIC Certificate #: 29583
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Carolina First Bank (#26849)
Federal Reserve ID: 454274
Date Established: January 01, 1922
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
OTS Docket #: 3699
FDIC's unique #: 42417
Numeric code: 37
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 10, 1936
Last Structure Change Effective Date: November 21, 1997
Last Structure Change Process Date: December 12, 1997
Last Data Update: December 12, 1997
Data Source Date: April 05, 2012
LocationAddress: 201 North Main Street, Anderson, SC 29622
County: Anderson
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): Anderson, SC (#11340)
CBSA Metro Statistical Area: Anderson, SC (#11340)
Financial SummaryTotal assets: $351.4 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$120
Cash and due from depository institutions$327,857
Interest-bearing balances$9,465
Securities$5,596
Federal funds sold & reverse repurchase agreements$53,491
Net loans & leases$0
Loan loss allowance $254,428
Trading account assets$1,272
Bank premises and fixed assets$0
Other real estate owned$4,234
Goodwill and other intangibles$902
All other assets$0
Life insurance assets$5,337
Total liabilities and capital$0
Total liabilities$327,857
Total deposits$292,811
Interest-bearing deposits$281,449
Deposits held in domestic offices$276,940
% insured (estimated)281449.00%
Federal funds purchased & repurchase agreements $97
Trading liabilities$10,000
Other borrowed funds $0
Subordinated debt $0
All other liabilities $0
Total equity capital$1,362
Total bank equity capital$1,362
Perpetual preferred stock$35,046
Common stock$0
Surplus$1
Undivided profits $19,951
Memoranda
Noncurrent loans and leases $15,094
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $182
Earning assets $1,383
Long-term assets (5+ years) $313,515
Average Assets, year-to-date $0
Average Assets, quarterly $332,536
Volatile liabilities $329,012
Insider loans $37,863
FHLB advances $467
Loans and leases held for sale $0
Unused loan commitments $0
Tier 1 (core) risk-based capital $8,798
Tier 2 risk-based capital $0
Total risk weighted assets $34,102
Total unused commitments $162,182
Restructured Loans and leases $0
Derivatives$0
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Income and Expense (December 31, 1996)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $24,795
Net interest income $14,274
Provision for loan and lease losses $10,521
Total noninterest income $180
Fiduciary activities $1,204
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $0
Total noninterest expense $1,204
Salaries and employee benefits $10,221
Premises and equipment expense $5,935
Additional noninterest expense $969
Pre-tax net operating income $3,317
Securities gains (losses) $1,324
Applicable income taxes -$294
Income before extraordinary items $736
Extraordinary gains - net $294
Net income attributable to bank $0
Net charge-offs $294
Cash dividends $27
Sale, conversion, retirement of capital stock, net $20,485
Net operating income $0
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Performance and Condition Ratios (December 31, 1996)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 7.80%
Net interest margin 4.49%
Noninterest income to earning assets 3.31%
Noninterest expense to earning assets 0.38%
Net operating income to assets 3.21%
Return on assets (ROA) 0.14%
Pretax return on assets 0.09%
Return on equity (ROE) 0.31%
Retained earnings to average equity (YTD only) 0.72%
Net charge-offs to loans -49.47%
Credit loss provision to net charge-offs 0.01%
Efficiency ratio666.67%
Assets per employee$87,173
Cash dividends to net income (YTD only)2.73%
Condition Ratios (%)
Loss allowance to loans 6967.69%
Loss allowance to noncurrent loans 0.50%
Noncurrent assets plus other real estate owned to assets 694.51%
Noncurrent loans to loans 0.10%
Net loans and leases to deposits0.07%
Net loans and leases to core deposits 90.40%
Equity capital to assets 100.33%
Core capital (leverage) ratio 10.69%
Tier 1 risk-based capital ratio 10.43%
Total risk-based capital ratio 21.03%
Memoranda
Average assets$22
Average earning assets$332,536
Average equity $40,817
Average loans $318,049
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