First Savings Bank of Forest City, S.S.B. in Forest City, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 15, 1993

  • First Savings Bank of Forest City, S.S.B. in Forest City, North Carolina (NC)
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First Savings Bank of Forest City, S.S.B. - Overview

  • General
  • FDIC Certificate #: 28070
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: RBC Bank (USA) (#33184)
    Federal Reserve ID: 927871
    Date Established: January 01, 1905
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 1 (Interstate: No)
    OTS Docket #: 839
    FDIC's unique #: 40904
    Numeric code: 42
    Regulator: FDIC
    Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
    FDIC Insured: Yes
    SAIF Insured: Yes
    Insured Savings Institution: Yes
    State Chartered: Yes
    Date of Deposit Insurance: October 21, 1940
    Last Structure Change Effective Date: October 15, 1993
    Last Structure Change Process Date: November 22, 1993
    Last Data Update: November 22, 1993
    Data Source Date: April 05, 2012
  • Location
  • Address: 427 East Main Street, Forest City, NC 28043
    County: Rutherford
    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
    Core Based Statistical Area (CBSA): Forest City, NC (#22580)
    CBSA Micro Statistical Area: Yes
  • Financial Summary
  • Total assets: $67.3 mil

Assets and Liabilities (December 31, 1992)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $8Total assets
  • $62,202Cash and due from depository institutions
  • $2,315Interest-bearing balances
  • $2,169Securities
  • $24,788Federal funds sold & reverse repurchase agreements
  • $0Net loans & leases
  • $34,160Loan loss allowance
  • $8Trading account assets
  • $0Bank premises and fixed assets
  • $251Other real estate owned
  • $0Goodwill and other intangibles
  • $688Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $62,202Total liabilities
  • $50,616Total deposits
  • $50,115Interest-bearing deposits
  • $50,115Deposits held in domestic offices
  • 50115.00%% insured (estimated)
  • $98Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $501Total equity capital
  • $501Total bank equity capital
  • $11,586Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $0Undivided profits
  • Memoranda
  • $11,586Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $72Income earned, not collected on loans
  • $38Earning assets
  • $61,117Long-term assets (5+ years)
  • $40,989Average Assets, year-to-date
  • $59,579Average Assets, quarterly
  • $61,711Volatile liabilities
  • $6,438Insider loans
  • $23FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $359Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $11,586Total risk weighted assets
  • $20,250Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1992)

  • Dollar figures in thousands
  • $0Total interest income
  • $5,126Total interest expense
  • $2,601Net interest income
  • $2,525Provision for loan and lease losses
  • $0Total noninterest income
  • $115Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $0Additional noninterest income
  • $115Total noninterest expense
  • $898Salaries and employee benefits
  • $262Premises and equipment expense
  • $37Additional noninterest expense
  • $600Pre-tax net operating income
  • $1,742Securities gains (losses)
  • $0Applicable income taxes
  • $616Income before extraordinary items
  • $1,126Extraordinary gains - net
  • $0Net income attributable to bank
  • $1,126Net charge-offs
  • $0Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1992)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 8.82%Cost of funding earning assets
  • 4.48%Net interest margin
  • 4.35%Noninterest income to earning assets
  • 0.20%Noninterest expense to earning assets
  • 1.55%Net operating income to assets
  • 1.89%Return on assets (ROA)
  • 1.89%Pretax return on assets
  • 2.92%Return on equity (ROE)
  • 10.20%Retained earnings to average equity (YTD only)
  • 10.20%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 34,015Assets per employee
  • 7.78%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.02%Loss allowance to noncurrent loans
  • 11.11%Noncurrent assets plus other real estate owned to assets
  • 0.12%Noncurrent loans to loans
  • 0.21%Net loans and leases to deposits
  • 68.16%Net loans and leases to core deposits
  • 78.21%Equity capital to assets
  • 18.63%Core capital (leverage) ratio
  • 18.73%Tier 1 risk-based capital ratio
  • 57.22%Total risk-based capital ratio
  • Memoranda
  • $57Average assets
  • $59,579Average earning assets
  • $11,044Average equity
  • $58,098Average loans

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