First Union National Bank of Georgia in Atlanta, Georgia (GA)

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First Union National Bank of Georgia
GeneralFDIC Certificate #: 20147
Status: Inactive
Closing history: Corrections
Acquiring institution: First Union National Bank (#4885)
Federal Reserve ID: 390532
Date Established: March 06, 1970
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 145 (Interstate: No)
OTS Docket #: 10922
FDIC's unique #: 13843
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
Oakar Institutions: Yes
State Chartered: No
Date of Deposit Insurance: March 06, 1970
Last Structure Change Effective Date: June 05, 1997
Last Structure Change Process Date: June 13, 1997
Last Data Update: June 14, 1997
Data Source Date: April 05, 2012
LocationAddress: 999 Peachtree Street, Suite 1200, Atlanta, GA 30309
County: Fulton
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Atlanta
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Atlanta, GA (#520)
Combined Statistical Area (CSA): Atlanta-Sandy Springs-Gainesville, GA-AL (#122)
Core Based Statistical Area (CBSA): Atlanta-Sandy Springs-Marietta, GA (#12060)
CBSA Metro Statistical Area: Atlanta-Sandy Springs-Marietta, GA (#12060)
History of ChangesMerger - Without Assistance
Financial SummaryTotal assets: $11,099.8 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$2,162
Cash and due from depository institutions$12,877,840
Interest-bearing balances$674,163
Federal funds sold & reverse repurchase agreements$1,894,113
Net loans & leases$54,862
Loan loss allowance $9,673,640
Trading account assets$192,559
Bank premises and fixed assets$1,264
Other real estate owned$144,598
Goodwill and other intangibles$7,498
All other assets$83,989
Life insurance assets$343,713
Total liabilities and capital$0
Total liabilities$12,877,840
Total deposits$12,158,473
Interest-bearing deposits$7,777,204
Deposits held in domestic offices$6,356,727
% insured (estimated)7777204.00%
Federal funds purchased & repurchase agreements $76
Trading liabilities$2,087,167
Other borrowed funds $1,264
Subordinated debt $1,737,610
All other liabilities $251,325
Total equity capital$303,903
Total bank equity capital$303,903
Perpetual preferred stock$719,367
Common stock$0
Undivided profits $424,799
Noncurrent loans and leases $279,940
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $123,387
Earning assets $52,152
Long-term assets (5+ years) $11,667,714
Average Assets, year-to-date $2,545,020
Average Assets, quarterly $12,598,493
Volatile liabilities $12,817,928
Insider loans $3,087,468
FHLB advances $125,120
Loans and leases held for sale $0
Unused loan commitments $0
Tier 1 (core) risk-based capital $19,213,623
Tier 2 risk-based capital $0
Total risk weighted assets $676,231
Total unused commitments $10,083,687
Restructured Loans and leases $0
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Income and Expense (December 31, 1996)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $891,030
Net interest income $439,807
Provision for loan and lease losses $451,223
Total noninterest income $216,000
Fiduciary activities $282,712
Service charges on deposit accounts $12,016
Trading account gains & fees $71,996
Additional noninterest income $170
Total noninterest expense $198,530
Salaries and employee benefits $416,598
Premises and equipment expense $93,576
Additional noninterest expense $36,657
Pre-tax net operating income $286,365
Securities gains (losses) $101,337
Applicable income taxes -$12,280
Income before extraordinary items $27,304
Extraordinary gains - net $61,753
Net income attributable to bank $0
Net charge-offs $61,753
Cash dividends $153,699
Sale, conversion, retirement of capital stock, net $70,000
Net operating income $0
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Performance and Condition Ratios (December 31, 1996)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 7.77%
Net interest margin 3.84%
Noninterest income to earning assets 3.94%
Noninterest expense to earning assets 2.47%
Net operating income to assets 3.63%
Return on assets (ROA) 0.56%
Pretax return on assets 0.49%
Return on equity (ROE) 0.71%
Retained earnings to average equity (YTD only) 9.04%
Net charge-offs to loans -1.21%
Credit loss provision to net charge-offs 1.66%
Efficiency ratio140.53%
Assets per employee$53,181
Cash dividends to net income (YTD only)5.96%
Condition Ratios (%)
Loss allowance to loans 113.35%
Loss allowance to noncurrent loans 1.95%
Noncurrent assets plus other real estate owned to assets 156.06%
Noncurrent loans to loans 1.02%
Net loans and leases to deposits1.25%
Net loans and leases to core deposits 124.38%
Equity capital to assets 138.23%
Core capital (leverage) ratio 5.59%
Tier 1 risk-based capital ratio 5.38%
Total risk-based capital ratio 6.71%
Average assets$10
Average earning assets$12,598,493
Average equity $683,445
Average loans $11,465,523
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