First Federal Savings and Loan Association of Charleston in Charleston, South Carolina (SC), NC
Overview, Financial Summary, Detailed Financial Reports, Branches


  • First Federal Savings and Loan Association of Charleston in Charleston, South Carolina (SC), NC
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First Federal Savings and Loan Association of Charleston - Overview

  • General
  • FDIC Certificate #: 28994
    Status: Active
    Federal Reserve ID: 877574
    Date Established: July 01, 1934
    WWW: http://www.firstfederal.com
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 69 (Domestic: 69, Interstate: Yes)
    OTS Docket #: 2738
    FDIC's unique #: 41828
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Mortgage Lending Specialization
    Date of Deposit Insurance: October 31, 1934
    Last Structure Change Effective Date: Febuary 21, 2012
    Last Structure Change Process Date: Febuary 24, 2012
    Last Data Update: Febuary 24, 2012
    Data Source Date: April 05, 2012
  • Location
  • Address: 2440 Mall Drive, Charleston, SC 29406
    County: Charleston
    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): Charleston-North Charleston, SC (#1440)
    Core Based Statistical Area (CBSA): Charleston-North Charleston-Summerville, SC (#16700)
    CBSA Metro Statistical Area: Charleston-North Charleston-Summerville, SC (#16700)
  • History of Changes
  • Change in Primary Regulatory Agency
    Change in Entity Type
    Change in Supervisory Agency
  • Financial Summary
  • Total assets: $3,140.4 mil
    Equity capital: $280.6 mil
    Deposits held in domestic offices: $2,278.8 mil
    Return on assets (ROA): -0.60% (-$18.8 mil)
    Quarterly return on assets: 2.08% ($65.3 mil)
    Return on Equity (ROE): -7.06% (-$19.8 mil)
    Quarterly return on equity: 23.94% ($67.3 mil)
    Net income: -$19.2 mil
    Quarterly Net income: $16.5 mil
    Pretax return on assets: -0.99% (-$31,090.0 mil)
    Quarterly Pretax return on assets: 3.36% ($105,517.7 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, 2011)

  • Dollar figures in thousands
  • 791Total employees (full-time equivalent)
  • $3,140,407Total assets
  • $76,534Cash and due from depository institutions
  • $15,689Interest-bearing balances
  • $423,600Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $2,377,170Net loans & leases
  • $52,124Loan loss allowance
  • $0Trading account assets
  • $79,285Bank premises and fixed assets
  • $21,782Other real estate owned
  • $13,759Goodwill and other intangibles
  • $3,140,407Life insurance assets
  • $148,277All other assets
  • $2,859,843Total liabilities and capital
  • $2,278,828Total liabilities
  • $2,003,993Total deposits
  • $2,278,828Interest-bearing deposits
  • $90Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $561,813Trading liabilities
  • $0Other borrowed funds
  • $19,202Subordinated debt
  • $280,564All other liabilities
  • $280,564Total equity capital
  • $280,564Total bank equity capital
  • $0Perpetual preferred stock
  • $13Common stock
  • $140,360Surplus
  • $140,191Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $49,266Income earned, not collected on loans
  • $110Earning assets
  • $10,832Long-term assets (5+ years)
  • $2,816,459Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $3,208,305Volatile liabilities
  • $3,168,872Insider loans
  • $2,256,721FHLB advances
  • $3,138,835Loans and leases held for sale
  • $1,149Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $278,674Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $465,256Restructured Loans and leases
  • $10,246Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $155,310Total interest income
  • $36,208Total interest expense
  • $119,102Net interest income
  • $106,863Provision for loan and lease losses
  • $60,790Total noninterest income
  • $0Fiduciary activities
  • $27,657Service charges on deposit accounts
  • $0Trading account gains & fees
  • $33,133Additional noninterest income
  • $105,844Total noninterest expense
  • $60,900Salaries and employee benefits
  • $15,431Premises and equipment expense
  • $29,513Additional noninterest expense
  • -$32,815Pre-tax net operating income
  • $894Securities gains (losses)
  • -$12,694Applicable income taxes
  • -$19,227Income before extraordinary items
  • $0Extraordinary gains - net
  • -$19,227Net income attributable to bank
  • $0Net charge-offs
  • -$19,227Cash dividends
  • $130,142Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.42%Yield on earning assets
  • 1.26%Cost of funding earning assets
  • 4.15%Net interest margin
  • 2.12%Noninterest income to earning assets
  • 3.69%Noninterest expense to earning assets
  • -0.62%Net operating income to assets
  • -0.60%Return on assets (ROA)
  • -0.99%Pretax return on assets
  • -7.06%Return on equity (ROE)
  • -7.06%Retained earnings to average equity (YTD only)
  • 5.21%Net charge-offs to loans
  • 82.11%Credit loss provision to net charge-offs
  • 0.57%Efficiency ratio
  • 58,069Assets per employee
  • 3.97%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.15%Loss allowance to noncurrent loans
  • 105.80%Noncurrent assets plus other real estate owned to assets
  • 2.17%Noncurrent loans to loans
  • 2.03%Net loans and leases to deposits
  • 104.32%Net loans and leases to core deposits
  • 119.32%Equity capital to assets
  • 8.93%Core capital (leverage) ratio
  • 8.92%Tier 1 risk-based capital ratio
  • 12.35%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $3,208,305Average earning assets
  • $272,251Average equity
  • $2,867,311Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $598,404Managed Assets
  • 1Number of Accounts
  • $114,026Personal trust and agency accounts
  • $67,632Employee benefit-defined contribution accounts
  • $16,972Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $4,647Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $24,775Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 345Number of Accounts
  • $0Personal trust and agency accounts
  • $4,647Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $484,378Other retirement accounts
  • $22,142Corporate trust and agency accounts
  • $451,456Other fiduciary accounts
  • $8,917Fiduciary accounts held in foreign offices

List of branches

  • 10 North Carolina Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    140464446796 Sunset Blvd. North796 Sunset Boulevard North, Sunset Beach, NC 28468September 01, 2002Full Service Brick and Mortar
    14860862Cape Fear Bank Branch1117 Military Cutoff Road, Wilmington, NC 28405June 22, 1998Full Service Brick and Mortar
    149290758Pine Valley Branch3702 South College Road, Wilmington, NC 28412August 25, 1999Full Service Brick and Mortar
    150429543Hampstead Branch14572 U.S. Highway 17, Hampstead, NC 28443March 15, 2004Full Service Brick and Mortar
    151450895Surf City Branch13500 Hwy 50, Suite 101, Surf City, NC 28445April 03, 2006Full Service Brick and Mortar
    152450914Waterford Branch1117 New Pointe Blvd, Leland, NC 28451April 26, 2005Full Service Brick and Mortar
    153464962Oleander Branch4008 Oleander Drive, Wilmington, NC 28403May 07, 2007Full Service Brick and Mortar
    155470127Southport Branch1669 North Howe Street, Suite A, Southport, NC 28461November 19, 2007Full Service Brick and Mortar
    159519704South College Road-Lowes Food Branch341 South College Road, Wilmington, NC 28403October 09, 2009Full Service Retail
    160519705Carolina Beach Road Branch5309 Carolina Beach Road, Wilmington, NC 28412October 09, 2009Full Service Retail
  • 59 South Carolina Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    041828First Federal Savings And Loan Assoc2440 Mall Drive, Charleston, SC 29406July 01, 1934Full Service Brick and Mortar
    1272083855 Savannah Hwy Branch855 Savannah Hwy, Charleston, SC 29407July 01, 1934Full Service Brick and Mortar
    22720843400 River Avenue Branch3400 Rivers Ave, Charleston, SC 29405July 01, 1934Full Service Brick and Mortar
    3272085822 Coleman Boulevard Branch822 Coleman Boulevard, Mount Pleasant, SC 29464July 01, 1934Full Service Brick and Mortar
    42720867850 Rivers Avenue Branch7850 Rivers Ave., North Charleston, SC 29406July 01, 1934Full Service Brick and Mortar
    5272087690 Bacon's Bridge Road Branch690 Bacon's Bridge Road, Summerville, SC 29485July 01, 1934Full Service Brick and Mortar
    6272088Folly Road Branch1185 Folly Road, Charleston, SC 29412July 01, 1934Full Service Brick and Mortar
    72720891011 Harbor View Road Branch1011 Harbor View Road, Charleston, SC 29412July 01, 1934Full Service Brick and Mortar
    8272090Center Pointe Drive Branch4962 Centre Pointe Drive, North Charleston, SC 29418July 01, 1934Full Service Brick and Mortar
    100272091602 Hwy 17-N By-Pass Branch602 Johnnie Dodd Boulevard, Mount Pleasant, SC 29464July 01, 1934Full Service Brick and Mortar
    101272092Savannah Highway Branch3628 Savannah Highway, Johns Island, SC 29455July 01, 1934Full Service Brick and Mortar
    1022720931309 Sam Rittenberg Boulevard Branch1309 Sam Rittenberg Boulevard, Charleston, SC 29407July 01, 1934Full Service Brick and Mortar
    103272094St James Boulevard Branch218 St. James Blvd., Goose Creek, SC 29445July 01, 1934Full Service Brick and Mortar
    104272095206 East Main Street Branch206 East Main Street, Moncks Corner, SC 29461July 01, 1934Full Service Brick and Mortar
    105272096637 Rutledge Avenue Branch637 Rutledge Avenue, Charleston, SC 29403July 01, 1934Full Service Brick and Mortar
    1062720971960 Old Trolley Road Branch1960 Old Trolley Road, Summerville, SC 29483July 01, 1934Full Service Brick and Mortar
    107272098Ashley Crossing Branch1955 Magwood Road, Charleston, SC 29414June 30, 1987Full Service Brick and Mortar
    1082720998450 Dorchester Rd Branch8450 E. Dorchester Rd., N. Charleston, SC 29420June 30, 1988Full Service Brick and Mortar
    109272100Georgetown Branch1025 Church Street, Georgetown, SC 29440May 13, 1991Full Service Brick and Mortar
    110272101Summerville Branch1315 North Main Street, Summerville, SC 29483September 21, 1992Full Service Brick and Mortar
    111272102Mount Pleasant Branch1899 Highway 17 North, Mount Pleasant, SC 29464March 29, 1993Full Service Brick and Mortar
    112272103Charleston Drive-In Branch8 Charlotte Street, Charleston, SC 29403September 20, 1993Limited Service Facility
    114280391Pawleys Island Branch13021 Ocean Highway, Pawleys Island, SC 29585January 01, 1914Full Service Brick and Mortar
    1173343582 Palmetto Bay Road Branch2 Palmetto Bay Road, Hilton Head Island, SC 29928April 24, 2000Full Service Brick and Mortar
    118362842Long Point Road Branch632 Long Point Road, Mount Pleasant, SC 29464June 25, 2001Full Service Brick and Mortar
    1202803864311 Main Street Branch4311 Main Street, Loris, SC 29569January 01, 1914Full Service Brick and Mortar
    121280387Grissom Parkway Branch4331 Grissom Parkway, Myrtle Beach, SC 29578January 01, 1914Full Service Brick and Mortar
    12440670238 S. Coit Street Branch238 S. Coit Street, Florence, SC 29501January 01, 1909Full Service Brick and Mortar
    1262803931717 N Main St Branch1717 N Main St, Conway, SC 29526June 30, 1988Full Service Brick and Mortar
    127280394Florence Branch1921 West Palmetto Street, Florence, SC 29501May 22, 1995Full Service Brick and Mortar
    128280395Wal-Mart Supercenter Branch2751 Beaver Run Boulevard, Surfside Beach, SC 29575August 21, 1996Full Service Brick and Mortar
    130287255Pamplico Highway Branch108 Pamplico Highway, Florence, SC 29505August 12, 1991Full Service Brick and Mortar
    131280396Wal-Mart Supercenter Branch10820 North Kings Road, Myrtle Beach, SC 29572July 15, 1998Full Service Brick and Mortar
    132280397Church Street Branch2709-A Church Street, Conway, SC 29526Febuary 11, 1998Full Service Brick and Mortar
    133280398Wal-Mart Supercenter Branch2014 South Irby Street, Florence, SC 29505January 27, 1999Full Service Brick and Mortar
    134280399Dick Pond Branch5019 Dick Pond Road, Myrtle Beach, SC 29588August 23, 1999Full Service Brick and Mortar
    135363150Murrells Inlet Branch12182 Highway 17 Bypass, Murrells Inlet, SC 29576September 17, 2001Full Service Brick and Mortar
    136419457Little River Branch1376 Highway 17, Little River, SC 29566June 16, 2003Full Service Brick and Mortar
    137425258North Myrtle Beach Branch550 Highway 17 North, North Myrtle Beach, SC 29582January 21, 2004Full Service Brick and Mortar
    138432298Wal-Mart Goose Creek Branch605 Saint James Avenue, Goose Creek, SC 29445September 15, 2004Full Service Retail
    139433530Wal-Mart Myrtle Beach Branch541 Seaboard Street, Myrtle Beach, SC 29577October 12, 2004Full Service Retail
    1414644483 Clark Summit Drive3 Clark Summit Drive, Bluffton, SC 29910November 20, 2000Full Service Brick and Mortar
    142464449100 Exchange Street100 Exchange Street, Hilton Head Island, SC 29926December 13, 1999Full Service Brick and Mortar
    1434644513951 West Ashley Circle3951 West Ashley Circle, Charleston, SC 29414March 17, 2006Full Service Brick and Mortar
    1444644527400 Rivers Avenue7400 Rivers Avenue, North Charleston, SC 29418June 23, 2006Full Service Brick and Mortar
    1454644539880 Dorchester Road9880 Dorchester Road, Summerville, SC 29485September 26, 2005Full Service Brick and Mortar
    146464454501 Main Street Branch501 Main Street, Conway, SC 29526September 01, 2002Full Service Brick and Mortar
    147464455211 Highway 17 North Branch211 Highway 17 North, Surfside Beach, SC 29575September 01, 2002Full Service Brick and Mortar
    156491914Renee Drive Branch3735 Renee Drive, Myrtle Beach, SC 29579July 16, 2007Full Service Brick and Mortar
    157491973Ashley Avenue Branch172 Ashley Avenue, Charleston, SC 29403Febuary 04, 2008Full Service Brick and Mortar
    158491974Highway 70711093 Highway 707, Murrells Inlet, SC 29576Febuary 27, 2008Full Service Brick and Mortar
    161520042Beltline Drive Branch230 North Beltline Drive, Florence, SC 29501October 29, 2008Full Service Retail
    162520043North Fraser Street Branch1310 North Fraser Street, Georgetown, SC 29440October 14, 2005Full Service Retail
    163520044Proprietors Place Branch3000 Proprietors Place, Mount Pleasant, SC 29464September 19, 2007Full Service Retail
    16452004682nd Parkway Branch970 82nd Parkway, Myrtle Beach, SC 29572September 17, 2008Full Service Retail
    165522156North Myrtle Branch606 Main Street, North Myrtle Beach, SC 29582June 06, 2005Full Service Brick and Mortar
    166522157Central Avenue Branch1595 Central Avenue, Summerville, SC 29483September 19, 2007Full Service Brick and Mortar
    167522158Broad Street Branch34 Broad Street, Charleston, SC 29401November 24, 2009Full Service Brick and Mortar
    168522159City Connector Branch545 Garden City Connector, Murrells Inlet, SC 29576October 13, 2010Full Service Brick and Mortar

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