First State Bank and Trust Company of Valdosta in Valdosta, Georgia (GA)

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First State Bank and Trust Company of Valdosta
GeneralFDIC Certificate #: 10073
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Synovus Bank (#873)
Federal Reserve ID: 103536
Date Established: March 01, 1906
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Interstate: No)
FDIC's unique #: 6441
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: June 01, 2010
Last Structure Change Process Date: June 14, 2010
Last Data Update: June 14, 2010
Data Source Date: April 05, 2012
LocationAddress: 3650 Inner Perimeter Road, Valdosta, GA 31602
County: Lowndes
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Albany Ga
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Core Based Statistical Area (CBSA): Valdosta, GA (#46660)
CBSA Metro Statistical Area: Valdosta, GA (#46660)
Financial SummaryTotal assets: $578.1 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, 2009)
(Dollar figures in thousands)
Total employees (full-time equivalent)67
Total assets$560,039
Cash and due from depository institutions$2,948
Interest-bearing balances$444
Federal funds sold & reverse repurchase agreements$20,937
Net loans & leases$436,768
Loan loss allowance $7,491
Trading account assets$0
Bank premises and fixed assets$9,446
Other real estate owned$1,039
Goodwill and other intangibles$0
All other assets$11,194
Life insurance assets$0
Total liabilities and capital$560,039
Total liabilities$512,850
Total deposits$487,989
Interest-bearing deposits$409,890
Deposits held in domestic offices$487,989
% insured (estimated)78.43%
Federal funds purchased & repurchase agreements $7,943
Trading liabilities$0
Other borrowed funds $15,000
Subordinated debt $0
All other liabilities $1,918
Total equity capital$47,189
Total bank equity capital$47,189
Perpetual preferred stock$47,189
Common stock$0
Undivided profits $36,749
Noncurrent loans and leases $9,440
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $60,011
Income earned, not collected on loans $0
Earning assets $3,237
Long-term assets (5+ years) $0
Average Assets, year-to-date $2,588
Average Assets, quarterly $535,856
Volatile liabilities $113,064
Insider loans $554,511
FHLB advances $569,704
Loans and leases held for sale $116,560
Unused loan commitments $21,244
Tier 1 (core) risk-based capital $15,000
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $60,011
Restructured Loans and leases $0
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Income and Expense (December 31, 2009)
(Dollar figures in thousands)
Total interest income $27,132
Total interest expense $6,421
Net interest income $20,711
Provision for loan and lease losses $5,511
Total noninterest income $3,511
Fiduciary activities $0
Service charges on deposit accounts $2,451
Trading account gains & fees $0
Additional noninterest income $1,060
Total noninterest expense $9,213
Salaries and employee benefits $3,612
Premises and equipment expense $856
Additional noninterest expense $4,745
Pre-tax net operating income $9,498
Securities gains (losses) $112
Applicable income taxes $3,549
Income before extraordinary items $6,061
Extraordinary gains - net $0
Net income attributable to bank $6,061
Net charge-offs $0
Cash dividends $6,061
Sale, conversion, retirement of capital stock, net $1,933
Net operating income $3,302
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Performance and Condition Ratios (December 31, 2009)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.13%
Cost of funding earning assets 1.21%
Net interest margin 3.91%
Noninterest income to earning assets 0.66%
Noninterest expense to earning assets 1.74%
Net operating income to assets 1.08%
Return on assets (ROA) 1.09%
Pretax return on assets 1.73%
Return on equity (ROE) 13.09%
Retained earnings to average equity (YTD only) 5.96%
Net charge-offs to loans 0.43%
Credit loss provision to net charge-offs 285.10%
Efficiency ratio7.76%
Assets per employee$38,036
Cash dividends to net income (YTD only)8.36%
Condition Ratios (%)
Loss allowance to loans 54.48%
Loss allowance to noncurrent loans 1.69%
Noncurrent assets plus other real estate owned to assets 231.42%
Noncurrent loans to loans 0.76%
Net loans and leases to deposits0.73%
Net loans and leases to core deposits 89.50%
Equity capital to assets 110.75%
Core capital (leverage) ratio 8.43%
Tier 1 risk-based capital ratio 7.83%
Total risk-based capital ratio 10.20%
Average assets$11
Average earning assets$554,511
Average equity $46,319
Average loans $529,022
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