FDIC Certificate #: 57239 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Heritage Bank of the South (#50028) Federal Reserve ID: 3051021 Date Established: Febuary 05, 2002 Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 1 (Interstate: No) FDIC's unique #: 359917 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: Febuary 05, 2002 Last Structure Change Effective Date: August 19, 2011 Last Structure Change Process Date: August 22, 2011 Last Data Update: August 22, 2011 Data Source Date: April 05, 2012
Location
Address: 201 South Main Street, Statesboro, GA 30459 County: Bulloch Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Savannah Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast Core Based Statistical Area (CBSA): Statesboro, GA (#44340) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $164.6 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2010)
Dollar figures in thousands
40Total employees (full-time equivalent)
$173,627Total assets
$9,188Cash and due from depository institutions
$392Interest-bearing balances
$20,283Securities
$0Federal funds sold & reverse repurchase agreements
$123,616Net loans & leases
$6,001Loan loss allowance
$0Trading account assets
$2,390Bank premises and fixed assets
$9,576Other real estate owned
$0Goodwill and other intangibles
$3,550Life insurance assets
$8,574All other assets
$173,628Total liabilities and capital
$167,507Total liabilities
$167,045Total deposits
$154,163Interest-bearing deposits
$167,045Deposits held in domestic offices
80.56%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$462All other liabilities
$6,121Total equity capital
$6,121Total bank equity capital
$6,121Perpetual preferred stock
$0Common stock
$3,350Surplus
$18,700Undivided profits
Memoranda
$-15,929Noncurrent loans and leases
$8,232Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$19,097Earning assets
$0Long-term assets (5+ years)
$689Average Assets, year-to-date
$144,291Average Assets, quarterly
$22,418Volatile liabilities
$213,958Insider loans
$190,150FHLB advances
$70,996Loans and leases held for sale
$9,303Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$8,232Total unused commitments
$0Restructured Loans and leases
$1,641Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$9,071Total interest income
$3,939Total interest expense
$5,132Net interest income
$11,755Provision for loan and lease losses
-$1,627Total noninterest income
$0Fiduciary activities
$761Service charges on deposit accounts
$0Trading account gains & fees
-$2,388Additional noninterest income
$5,325Total noninterest expense
$1,605Salaries and employee benefits
$500Premises and equipment expense
$3,220Additional noninterest expense
-$13,575Pre-tax net operating income
$400Securities gains (losses)
$1,189Applicable income taxes
-$14,364Income before extraordinary items
$0Extraordinary gains - net
-$14,364Net income attributable to bank
$0Net charge-offs
-$14,364Cash dividends
$10,523Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.06%Yield on earning assets
2.20%Cost of funding earning assets
2.86%Net interest margin
-0.91%Noninterest income to earning assets
2.97%Noninterest expense to earning assets
-6.90%Net operating income to assets
-6.71%Return on assets (ROA)
-6.16%Pretax return on assets
-88.22%Return on equity (ROE)
-88.22%Retained earnings to average equity (YTD only)
7.00%Net charge-offs to loans
111.71%Credit loss provision to net charge-offs
-0.17%Efficiency ratio
151,926Assets per employee
4.34%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
4.63%Loss allowance to noncurrent loans
31.42%Noncurrent assets plus other real estate owned to assets
16.51%Noncurrent loans to loans
14.73%Net loans and leases to deposits
74.00%Net loans and leases to core deposits
128.70%Equity capital to assets
3.53%Core capital (leverage) ratio
3.27%Tier 1 risk-based capital ratio
4.70%Total risk-based capital ratio
Memoranda
$6Average assets
$213,958Average earning assets
$16,282Average equity
$179,357Average loans
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