First National Bank of the Carolinas in Gaffney, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 01, 2005

  • First National Bank of the Carolinas in Gaffney, South Carolina (SC)
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First National Bank of the Carolinas - Overview

  • General
  • FDIC Certificate #: 34237
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: American Community Bank (#34868)
    Federal Reserve ID: 2481180
    Date Established: October 18, 1996
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 3 (Interstate: No)
    OTS Docket #: 15393
    FDIC's unique #: 56996
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: No
    Date of Deposit Insurance: October 18, 1996
    Last Structure Change Effective Date: April 01, 2005
    Last Structure Change Process Date: May 03, 2005
    Last Data Update: May 03, 2005
    Data Source Date: April 05, 2012
  • Location
  • Address: 217 North Granard Street, Gaffney, SC 29340
    County: Cherokee
    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): Gaffney, SC (#23500)
    CBSA Micro Statistical Area: Yes
  • Financial Summary
  • Total assets: $84.8 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, 2004)

  • Dollar figures in thousands
  • 24Total employees (full-time equivalent)
  • $86,780Total assets
  • $3,189Cash and due from depository institutions
  • $1,243Interest-bearing balances
  • $6,127Securities
  • $4,310Federal funds sold & reverse repurchase agreements
  • $58,004Net loans & leases
  • $742Loan loss allowance
  • $0Trading account assets
  • $3,642Bank premises and fixed assets
  • $56Other real estate owned
  • $10,617Goodwill and other intangibles
  • $0Life insurance assets
  • $835All other assets
  • $86,780Total liabilities and capital
  • $68,461Total liabilities
  • $59,058Total deposits
  • $50,526Interest-bearing deposits
  • $59,058Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $3,376Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $2,000Other borrowed funds
  • $0Subordinated debt
  • $4,027All other liabilities
  • $18,319Total equity capital
  • $18,319Total bank equity capital
  • $18,319Perpetual preferred stock
  • $0Common stock
  • $2,250Surplus
  • $14,046Undivided profits
  • Memoranda
  • $2,023Noncurrent loans and leases
  • $7,581Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $355Earning assets
  • $0Long-term assets (5+ years)
  • $314Average Assets, year-to-date
  • $69,684Average Assets, quarterly
  • $10,390Volatile liabilities
  • $79,922Insider loans
  • $84,224FHLB advances
  • $9,906Loans and leases held for sale
  • $0Unused loan commitments
  • $2,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $7,581Total unused commitments
  • $0Restructured Loans and leases
  • $742Derivatives

Income and Expense (December 31, 2004)

  • Dollar figures in thousands
  • $4,008Total interest income
  • $826Total interest expense
  • $3,182Net interest income
  • $112Provision for loan and lease losses
  • $753Total noninterest income
  • $0Fiduciary activities
  • $483Service charges on deposit accounts
  • $0Trading account gains & fees
  • $270Additional noninterest income
  • $2,441Total noninterest expense
  • $1,140Salaries and employee benefits
  • $401Premises and equipment expense
  • $900Additional noninterest expense
  • $1,382Pre-tax net operating income
  • $0Securities gains (losses)
  • $407Applicable income taxes
  • $975Income before extraordinary items
  • -$398Extraordinary gains - net
  • $577Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $42Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2004)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.97%Yield on earning assets
  • 1.23%Cost of funding earning assets
  • 4.74%Net interest margin
  • 1.12%Noninterest income to earning assets
  • 3.64%Noninterest expense to earning assets
  • 1.22%Net operating income to assets
  • 0.72%Return on assets (ROA)
  • 1.23%Pretax return on assets
  • 4.22%Return on equity (ROE)
  • 4.22%Retained earnings to average equity (YTD only)
  • 0.07%Net charge-offs to loans
  • 266.67%Credit loss provision to net charge-offs
  • 35.57%Efficiency ratio
  • 60,102Assets per employee
  • 3.62%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.26%Loss allowance to noncurrent loans
  • 209.01%Noncurrent assets plus other real estate owned to assets
  • 0.47%Noncurrent loans to loans
  • 0.60%Net loans and leases to deposits
  • 98.22%Net loans and leases to core deposits
  • 108.36%Equity capital to assets
  • 21.11%Core capital (leverage) ratio
  • 10.59%Tier 1 risk-based capital ratio
  • 12.46%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $79,922Average earning assets
  • $13,680Average equity
  • $67,150Average loans

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