First Gaston Bank of North Carolina in Gastonia, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of August 01, 2006

  • First Gaston Bank of North Carolina in Gastonia, North Carolina (NC)
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First Gaston Bank of North Carolina - Overview

  • General
  • FDIC Certificate #: 34041
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Communityone Bank, National Association (#4879)
    Federal Reserve ID: 2317645
    Date Established: July 11, 1995
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 18 (Interstate: No)
    OTS Docket #: 15519
    FDIC's unique #: 56019
    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: July 11, 1995
    Last Structure Change Effective Date: August 01, 2006
    Last Structure Change Process Date: October 19, 2006
    Last Data Update: October 19, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 804 South New Hope Road, Gastonia, NC 28054
    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)
  • Financial Summary
  • Total assets: $726.4 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, 2005)

  • Dollar figures in thousands
  • 55Total employees (full-time equivalent)
  • $223,539Total assets
  • $7,237Cash and due from depository institutions
  • $420Interest-bearing balances
  • $34,520Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $170,339Net loans & leases
  • $2,349Loan loss allowance
  • $0Trading account assets
  • $4,067Bank premises and fixed assets
  • $52Other real estate owned
  • $507Goodwill and other intangibles
  • $0Life insurance assets
  • $6,817All other assets
  • $223,539Total liabilities and capital
  • $204,353Total liabilities
  • $186,853Total deposits
  • $167,589Interest-bearing deposits
  • $186,853Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $1,371Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $14,500Other borrowed funds
  • $0Subordinated debt
  • $1,629All other liabilities
  • $19,186Total equity capital
  • $19,186Total bank equity capital
  • $19,186Perpetual preferred stock
  • $0Common stock
  • $6,312Surplus
  • $7,107Undivided profits
  • Memoranda
  • $5,767Noncurrent loans and leases
  • $46,052Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $2,867Earning assets
  • $0Long-term assets (5+ years)
  • $965Average Assets, year-to-date
  • $205,279Average Assets, quarterly
  • $28,035Volatile liabilities
  • $216,454Insider loans
  • $223,002FHLB advances
  • $62,307Loans and leases held for sale
  • $11,656Unused loan commitments
  • $14,500Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $131Total risk weighted assets
  • $46,052Total unused commitments
  • $780Restructured Loans and leases
  • $2,349Derivatives

Income and Expense (December 31, 2005)

  • Dollar figures in thousands
  • $13,164Total interest income
  • $4,718Total interest expense
  • $8,446Net interest income
  • $170Provision for loan and lease losses
  • $2,506Total noninterest income
  • $0Fiduciary activities
  • $1,453Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,053Additional noninterest income
  • $7,699Total noninterest expense
  • $2,731Salaries and employee benefits
  • $628Premises and equipment expense
  • $4,340Additional noninterest expense
  • $3,083Pre-tax net operating income
  • -$9Securities gains (losses)
  • $1,078Applicable income taxes
  • $1,996Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,996Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $94Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2005)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.62%Yield on earning assets
  • 2.37%Cost of funding earning assets
  • 4.24%Net interest margin
  • 1.26%Noninterest income to earning assets
  • 3.87%Noninterest expense to earning assets
  • 0.92%Net operating income to assets
  • 0.92%Return on assets (ROA)
  • 1.42%Pretax return on assets
  • 10.78%Return on equity (ROE)
  • 10.78%Retained earnings to average equity (YTD only)
  • 0.06%Net charge-offs to loans
  • 180.85%Credit loss provision to net charge-offs
  • 34.61%Efficiency ratio
  • 70,124Assets per employee
  • 4.06%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.36%Loss allowance to noncurrent loans
  • 81.93%Noncurrent assets plus other real estate owned to assets
  • 1.31%Noncurrent loans to loans
  • 1.66%Net loans and leases to deposits
  • 91.16%Net loans and leases to core deposits
  • 123.96%Equity capital to assets
  • 8.58%Core capital (leverage) ratio
  • 8.41%Tier 1 risk-based capital ratio
  • 9.96%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $216,454Average earning assets
  • $18,518Average equity
  • $198,983Average loans

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