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

  • First Piedmont Federal Savings and Loan Association of Gaffney in Gaffney, South Carolina (SC)
  • Show street view No street view available for this location

First Piedmont Federal Savings and Loan Association of Gaffney - Overview

  • General
  • FDIC Certificate #: 28859
    Status: Active
    Federal Reserve ID: 646172
    Date Established: January 01, 1933
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 6 (Domestic: 6, Interstate: No)
    OTS Docket #: 2502
    FDIC's unique #: 41693
    Numeric code: 38
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: November 05, 1934
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 1229 West Floyd Baker Boulevard, 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
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $289.2 mil
    Equity capital: $77.9 mil
    Deposits held in domestic offices: $209.6 mil
    Return on assets (ROA): 1.35% ($3.9 mil)
    Quarterly return on assets: 1.23% ($3.6 mil)
    Return on Equity (ROE): 5.07% ($4.0 mil)
    Quarterly return on equity: 4.58% ($3.6 mil)
    Net income: $3.9 mil
    Quarterly Net income: $0.9 mil
    Pretax return on assets: 2.21% ($6,391.9 mil)
    Quarterly Pretax return on assets: 2.12% ($6,131.6 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
  • 71Total employees (full-time equivalent)
  • $289,226Total assets
  • $71,508Cash and due from depository institutions
  • $71,253Interest-bearing balances
  • $5Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $193,812Net loans & leases
  • $1,957Loan loss allowance
  • $8Trading account assets
  • $5,438Bank premises and fixed assets
  • $16,082Other real estate owned
  • $166Goodwill and other intangibles
  • $289,226Life insurance assets
  • $2,207All other assets
  • $211,317Total liabilities and capital
  • $209,553Total liabilities
  • $171,440Total deposits
  • $209,553Interest-bearing deposits
  • $88Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $1,764Subordinated debt
  • $77,909All other liabilities
  • $77,909Total equity capital
  • $77,909Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $77,909Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $575Income earned, not collected on loans
  • $0Earning assets
  • $660Long-term assets (5+ years)
  • $265,078Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $284,958Volatile liabilities
  • $288,959Insider loans
  • $198,405FHLB advances
  • $277,739Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $66,422Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $42,948Restructured Loans and leases
  • $678Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $12,987Total interest income
  • $421Total interest expense
  • $12,566Net interest income
  • $679Provision for loan and lease losses
  • $3,047Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • -$4Trading account gains & fees
  • $3,051Additional noninterest income
  • $9,281Total noninterest expense
  • $5,405Salaries and employee benefits
  • $1,783Premises and equipment expense
  • $2,093Additional noninterest expense
  • $5,653Pre-tax net operating income
  • $651Securities gains (losses)
  • $2,448Applicable income taxes
  • $3,856Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,856Net income attributable to bank
  • $0Net charge-offs
  • $3,856Cash dividends
  • -$40Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.98%Yield on earning assets
  • 0.16%Cost of funding earning assets
  • 4.82%Net interest margin
  • 1.17%Noninterest income to earning assets
  • 3.56%Noninterest expense to earning assets
  • 1.21%Net operating income to assets
  • 1.35%Return on assets (ROA)
  • 2.21%Pretax return on assets
  • 5.07%Return on equity (ROE)
  • 5.07%Retained earnings to average equity (YTD only)
  • -0.02%Net charge-offs to loans
  • -1697.50%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 59,444Assets per employee
  • 4.07%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.00%Loss allowance to noncurrent loans
  • 340.35%Noncurrent assets plus other real estate owned to assets
  • 1.75%Noncurrent loans to loans
  • 0.29%Net loans and leases to deposits
  • 92.49%Net loans and leases to core deposits
  • 97.78%Equity capital to assets
  • 26.94%Core capital (leverage) ratio
  • 23.92%Tier 1 risk-based capital ratio
  • 33.48%Total risk-based capital ratio
  • Memoranda
  • $34Average assets
  • $284,958Average earning assets
  • $76,015Average equity
  • $260,801Average loans

List of branches

  • 6 South Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    041693First Piedmont Federal Savings And L1229 West Floyd Baker Boulevard, Gaffney, SC 29340January 01, 1933Full Service Brick and Mortar
    1271075210 S Limestone St Branch210 S Limestone St, Gaffney, SC 29340January 01, 1933Full Service Brick and Mortar
    1002710761510 John B White Blvd1510 John B White Blvd., Spartanburg, SC 29301January 01, 1933Full Service Brick and Mortar
    101271077503 N Granard St Branch503 N Granard St, Gaffney, SC 29340January 01, 1933Full Service Brick and Mortar
    102271078901 E Main St Branch901 E Main St, Spartanburg, SC 29304June 30, 1985Full Service Brick and Mortar
    104461416Boiling Springs Branch2101 Boiling Springs Rd, Boiling Springs, SC 29316June 30, 2006Full Service Brick and Mortar

Comment about this bank, ask questions, or add new information about it:


This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with First Piedmont Federal Savings and Loan Association of Gaffney.
Based on public records. Inadvertent errors are possible. does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents