Frederica Bank & Trust in Saint Simons Island, Georgia (GA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 02, 1999

Frederica Bank & Trust in Saint Simons Island, Georgia (GA)
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Frederica Bank & Trust - Overview

General
FDIC Certificate #: 27392
Status: Inactive
Closing history: Change in Location
Acquiring institution: Premier Bank (#26307)
Federal Reserve ID: 1228306
Date Established: December 12, 1988
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
FDIC's unique #: 39835
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: December 12, 1988
Last Structure Change Effective Date: April 02, 1999
Last Structure Change Process Date: April 30, 1999
Last Data Update: April 30, 1999
Data Source Date: April 05, 2012
Location
Address: 1709 Frederica Road, Saint Simons Island, GA 31522
County: Glynn
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): Brunswick, GA (#15260)
CBSA Metro Statistical Area: Brunswick, GA (#15260)
History of Changes
Merger - Without Assistance
Change in Location
Financial Summary
Total assets: $81.9 mil

1992 - 1999 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, 1998)

Dollar figures in thousands
11Total employees (full-time equivalent)
$77,326Total assets
$1,179Cash and due from depository institutions
$0Interest-bearing balances
$15,495Securities
$7,940Federal funds sold & reverse repurchase agreements
$51,652Net loans & leases
$448Loan loss allowance
$0Trading account assets
$204Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$856All other assets
$77,326Total liabilities and capital
$69,927Total liabilities
$68,892Total deposits
$64,747Interest-bearing deposits
$68,892Deposits held in domestic offices
0.00%% insured (estimated)
$635Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$400All other liabilities
$7,399Total equity capital
$7,399Total bank equity capital
$7,399Perpetual preferred stock
$0Common stock
$2,461Surplus
$3,766Undivided profits
Memoranda
$1,172Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$45Earning assets
$0Long-term assets (5+ years)
$347Average Assets, year-to-date
$75,087Average Assets, quarterly
$11,475Volatile liabilities
$71,228Insider loans
$74,518FHLB advances
$21,516Loans and leases held for sale
$1,727Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$9,142Total unused commitments
$0Restructured Loans and leases
$44,942Derivatives

Income and Expense (December 31, 1998)

Dollar figures in thousands
$5,791Total interest income
$3,400Total interest expense
$2,391Net interest income
$55Provision for loan and lease losses
$192Total noninterest income
$0Fiduciary activities
$153Service charges on deposit accounts
$0Trading account gains & fees
$39Additional noninterest income
$1,567Total noninterest expense
$581Salaries and employee benefits
$192Premises and equipment expense
$794Additional noninterest expense
$961Pre-tax net operating income
$10Securities gains (losses)
$390Applicable income taxes
$581Income before extraordinary items
$0Extraordinary gains - net
$581Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$33Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1998)

Dollar figures in thousands
Performance Ratios (%, annualized)
8.41%Yield on earning assets
4.94%Cost of funding earning assets
3.47%Net interest margin
0.28%Noninterest income to earning assets
2.28%Noninterest expense to earning assets
0.81%Net operating income to assets
0.82%Return on assets (ROA)
1.36%Pretax return on assets
8.21%Return on equity (ROE)
8.21%Retained earnings to average equity (YTD only)
0.07%Net charge-offs to loans
166.67%Credit loss provision to net charge-offs
30.79%Efficiency ratio
60,666Assets per employee
7.03%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
0.86%Loss allowance to noncurrent loans
995.56%Noncurrent assets plus other real estate owned to assets
0.06%Noncurrent loans to loans
0.09%Net loans and leases to deposits
74.98%Net loans and leases to core deposits
107.58%Equity capital to assets
9.57%Core capital (leverage) ratio
9.73%Tier 1 risk-based capital ratio
16.30%Total risk-based capital ratio
Memoranda
$17Average assets
$71,228Average earning assets
$7,080Average equity
$68,864Average loans

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