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

This bank is inactive as of July 16, 2010

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

  • General
  • FDIC Certificate #: 35383
    Status: Inactive
    Closing history: Absorption - Assisted
    Acquiring institution: Capital Bank, National Association (#59049)
    Federal Reserve ID: 2859574
    Date Established: March 27, 2000
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 13 (Interstate: No)
    FDIC's unique #: 78851
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: No
    Date of Deposit Insurance: March 27, 2000
    Last Structure Change Effective Date: July 16, 2010
    Last Structure Change Process Date: July 19, 2010
    Last Data Update: July 19, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 215 North Pine Street, Spartanburg, SC 29304
    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: $619.4 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, 2009)

  • Dollar figures in thousands
  • 131Total employees (full-time equivalent)
  • $719,807Total assets
  • $69,644Cash and due from depository institutions
  • $66,675Interest-bearing balances
  • $99,112Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $511,753Net loans & leases
  • $25,407Loan loss allowance
  • $0Trading account assets
  • $8,120Bank premises and fixed assets
  • $9,315Other real estate owned
  • $907Goodwill and other intangibles
  • $3,245Life insurance assets
  • $20,956All other assets
  • $719,807Total liabilities and capital
  • $702,187Total liabilities
  • $643,088Total deposits
  • $605,118Interest-bearing deposits
  • $643,088Deposits held in domestic offices
  • 73.63%% insured (estimated)
  • $2,207Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $54,004Other borrowed funds
  • $0Subordinated debt
  • $2,888All other liabilities
  • $17,620Total equity capital
  • $17,620Total bank equity capital
  • $17,620Perpetual preferred stock
  • $0Common stock
  • $5,500Surplus
  • $84,221Undivided profits
  • Memoranda
  • $-72,101Noncurrent loans and leases
  • $59,077Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $128,019Earning assets
  • $0Long-term assets (5+ years)
  • $2,150Average Assets, year-to-date
  • $677,540Average Assets, quarterly
  • $103,649Volatile liabilities
  • $797,724Insider loans
  • $753,125FHLB advances
  • $164,951Loans and leases held for sale
  • $12,931Unused loan commitments
  • $54,004Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $59,077Total unused commitments
  • $2,927Restructured Loans and leases
  • $6,792Derivatives

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $32,870Total interest income
  • $19,168Total interest expense
  • $13,702Net interest income
  • $39,712Provision for loan and lease losses
  • $3,594Total noninterest income
  • $0Fiduciary activities
  • $1,751Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,843Additional noninterest income
  • $23,509Total noninterest expense
  • $10,524Salaries and employee benefits
  • $3,232Premises and equipment expense
  • $9,753Additional noninterest expense
  • -$45,925Pre-tax net operating income
  • $1,758Securities gains (losses)
  • -$1,673Applicable income taxes
  • -$42,494Income before extraordinary items
  • $0Extraordinary gains - net
  • -$42,494Net income attributable to bank
  • $0Net charge-offs
  • -$42,494Cash dividends
  • $37,337Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.41%Yield on earning assets
  • 2.57%Cost of funding earning assets
  • 1.84%Net interest margin
  • 0.48%Noninterest income to earning assets
  • 3.15%Noninterest expense to earning assets
  • -5.54%Net operating income to assets
  • -5.33%Return on assets (ROA)
  • -5.54%Pretax return on assets
  • -102.32%Return on equity (ROE)
  • -102.32%Retained earnings to average equity (YTD only)
  • 5.96%Net charge-offs to loans
  • 106.36%Credit loss provision to net charge-offs
  • -0.17%Efficiency ratio
  • 135,130Assets per employee
  • 5.49%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 4.73%Loss allowance to noncurrent loans
  • 19.85%Noncurrent assets plus other real estate owned to assets
  • 19.08%Noncurrent loans to loans
  • 23.83%Net loans and leases to deposits
  • 79.58%Net loans and leases to core deposits
  • 105.65%Equity capital to assets
  • 2.45%Core capital (leverage) ratio
  • 2.37%Tier 1 risk-based capital ratio
  • 3.43%Total risk-based capital ratio
  • Memoranda
  • $5Average assets
  • $797,724Average earning assets
  • $41,531Average equity
  • $745,635Average loans

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