Forest Commercial Bank in Asheville, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches


Forest Commercial Bank - Overview

  • General
  • FDIC Certificate #: 58693
    Status: Active
    Federal Reserve ID: 3637229
    Date Established: March 05, 2008
    WWW: http://www.forestcommercialbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 463048
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: March 05, 2008
    Last Structure Change Effective Date: August 09, 2010
    Last Structure Change Process Date: May 02, 2011
    Last Data Update: May 02, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 1127 Hendersonville Road, Asheville, NC 28803
    County: Buncombe
    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
    Metropolitan Statistical Area (MSA): Asheville, NC (#480)
    Combined Statistical Area (CSA): Asheville-Brevard, NC (#120)
    Core Based Statistical Area (CBSA): Asheville, NC (#11700)
    CBSA Metro Statistical Area: Asheville, NC (#11700)
  • History of Changes
  • Name Change
    Change in Location
  • Financial Summary
  • Total assets: $119.5 mil
    Equity capital: $18.6 mil
    Deposits held in domestic offices: $97.6 mil
    Return on assets (ROA): 0.41% ($0.5 mil)
    Quarterly return on assets: 0.16% ($0.2 mil)
    Return on Equity (ROE): 2.48% ($0.5 mil)
    Quarterly return on equity: 0.95% ($0.2 mil)
    Net income: $0.4 mil
    Quarterly Net income: $0.0 mil
    Pretax return on assets: 0.41% ($489.8 mil)
    Quarterly Pretax return on assets: 0.16% ($191.1 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
  • 24Total employees (full-time equivalent)
  • $119,462Total assets
  • $8,318Cash and due from depository institutions
  • $7,975Interest-bearing balances
  • $16,956Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $90,482Net loans & leases
  • $1,303Loan loss allowance
  • $0Trading account assets
  • $2,878Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $119,463Life insurance assets
  • $828All other assets
  • $100,910Total liabilities and capital
  • $97,603Total liabilities
  • $88,177Total deposits
  • $97,603Interest-bearing deposits
  • $81Deposits held in domestic offices
  • 1000.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $2,000Trading liabilities
  • $0Other borrowed funds
  • $307Subordinated debt
  • $18,553All other liabilities
  • $18,553Total equity capital
  • $18,553Total bank equity capital
  • $0Perpetual preferred stock
  • $9,092Common stock
  • $11,082Surplus
  • $-1,621Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $45Income earned, not collected on loans
  • $0Earning assets
  • $349Long-term assets (5+ years)
  • $115,413Average Assets, year-to-date
  • $26,453Average Assets, quarterly
  • $108,484Volatile liabilities
  • $113,287Insider loans
  • $109,981FHLB advances
  • $109,684Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $18,020Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $15,998Restructured Loans and leases
  • $6,296Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,301Total interest income
  • $1,139Total interest expense
  • $4,162Net interest income
  • $279Provision for loan and lease losses
  • $283Total noninterest income
  • $0Fiduciary activities
  • $52Service charges on deposit accounts
  • $0Trading account gains & fees
  • $231Additional noninterest income
  • $3,704Total noninterest expense
  • $1,997Salaries and employee benefits
  • $589Premises and equipment expense
  • $1,118Additional noninterest expense
  • $462Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $462Income before extraordinary items
  • -$13Extraordinary gains - net
  • $449Net income attributable to bank
  • $0Net charge-offs
  • $449Cash dividends
  • $9Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.04%Yield on earning assets
  • 1.08%Cost of funding earning assets
  • 3.96%Net interest margin
  • 0.27%Noninterest income to earning assets
  • 3.52%Noninterest expense to earning assets
  • 0.43%Net operating income to assets
  • 0.41%Return on assets (ROA)
  • 0.41%Pretax return on assets
  • 2.48%Return on equity (ROE)
  • 2.48%Retained earnings to average equity (YTD only)
  • 0.01%Net charge-offs to loans
  • 3100.00%Credit loss provision to net charge-offs
  • 82.33%Efficiency ratio
  • 83,330Assets per employee
  • 4.98%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.42%Loss allowance to noncurrent loans
  • 2895.56%Noncurrent assets plus other real estate owned to assets
  • 0.04%Noncurrent loans to loans
  • 0.05%Net loans and leases to deposits
  • 92.70%Net loans and leases to core deposits
  • 117.58%Equity capital to assets
  • 15.53%Core capital (leverage) ratio
  • 16.43%Tier 1 risk-based capital ratio
  • 16.38%Total risk-based capital ratio
  • Memoranda
  • $18Average assets
  • $108,484Average earning assets
  • $18,117Average equity
  • $105,188Average loans

List of branches

  • 2 North Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0463048Forest Commercial Bank1127 Hendersonville Road, Asheville, NC 28803March 05, 2008Full Service Brick and Mortar
    2526572Henersonville Branch218 North Main Street, Hendersonville, NC 28792November 14, 2011Full Service Brick and Mortar

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