Gateway Bank & Trust Company in Elizabeth City, North Carolina (NC)



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Gateway Bank & Trust Company
GeneralFDIC Certificate #: 34861
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Bank of Hampton Roads (#27125)
Federal Reserve ID: 2748650
Date Established: December 01, 1998
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 36 (Interstate: No)
FDIC's unique #: 61824
Numeric code: 13
Regulator: FED
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: December 01, 1998
Last Structure Change Effective Date: May 09, 2009
Last Structure Change Process Date: May 20, 2009
Last Data Update: May 20, 2009
Data Source Date: April 05, 2012
LocationAddress: 1143 North Road Street, Elizabeth City, NC 27906
County: Pasquotank
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Raleigh
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Southeast
Core Based Statistical Area (CBSA): Elizabeth City, NC (#21020)
CBSA Micro Statistical Area: Yes
Financial SummaryTotal assets: $2,209.2 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, 2008)
(Dollar figures in thousands)
Total employees (full-time equivalent)511
Total assets$2,212,813
Cash and due from depository institutions$22,856
Interest-bearing balances$313
Securities$115,895
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$1,782,912
Loan loss allowance $42,060
Trading account assets$0
Bank premises and fixed assets$75,913
Other real estate owned$3,719
Goodwill and other intangibles$68,669
All other assets$142,849
Life insurance assets$41,829
Total liabilities and capital$2,212,813
Total liabilities$1,952,191
Total deposits$1,668,735
Interest-bearing deposits$1,387,798
Deposits held in domestic offices$1,668,735
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $54,800
Trading liabilities$0
Other borrowed funds $191,500
Subordinated debt $0
All other liabilities $37,156
Total equity capital$260,622
Total bank equity capital$260,622
Perpetual preferred stock$260,622
Common stock$0
Surplus$13,664
Undivided profits $246,958
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $376,595
Income earned, not collected on loans $0
Earning assets $31,302
Long-term assets (5+ years) $0
Average Assets, year-to-date $8,822
Average Assets, quarterly $1,899,120
Volatile liabilities $237,168
Insider loans $2,090,092
FHLB advances $2,242,602
Loans and leases held for sale $360,478
Unused loan commitments $61,309
Tier 1 (core) risk-based capital $191,500
Tier 2 risk-based capital $0
Total risk weighted assets $5,064
Total unused commitments $376,595
Restructured Loans and leases $0
Derivatives$24,462
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Income and Expense (December 31, 2008)
(Dollar figures in thousands)
Total interest income $120,237
Total interest expense $59,092
Net interest income $61,145
Provision for loan and lease losses $48,200
Total noninterest income $17,241
Fiduciary activities $0
Service charges on deposit accounts $4,616
Trading account gains & fees -$16
Additional noninterest income $12,641
Total noninterest expense $62,982
Salaries and employee benefits $32,287
Premises and equipment expense $10,267
Additional noninterest expense $20,428
Pre-tax net operating income -$32,796
Securities gains (losses) -$38,599
Applicable income taxes -$25,915
Income before extraordinary items -$45,480
Extraordinary gains - net $0
Net income attributable to bank -$45,480
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $10,417
Net operating income $3,500
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Performance and Condition Ratios (December 31, 2008)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.59%
Cost of funding earning assets 3.24%
Net interest margin 3.35%
Noninterest income to earning assets 0.94%
Noninterest expense to earning assets 3.45%
Net operating income to assets -0.99%
Return on assets (ROA) -2.18%
Pretax return on assets -3.42%
Return on equity (ROE) -19.52%
Retained earnings to average equity (YTD only) -21.03%
Net charge-offs to loans 0.61%
Credit loss provision to net charge-offs 462.71%
Efficiency ratio1.48%
Assets per employee$79,560
Cash dividends to net income (YTD only)4.33%
Condition Ratios (%)
Loss allowance to loans -7.70%
Loss allowance to noncurrent loans 2.30%
Noncurrent assets plus other real estate owned to assets 134.37%
Noncurrent loans to loans 1.58%
Net loans and leases to deposits1.72%
Net loans and leases to core deposits 106.84%
Equity capital to assets 128.68%
Core capital (leverage) ratio 11.78%
Tier 1 risk-based capital ratio 8.08%
Total risk-based capital ratio 8.79%
Memoranda
Average assets$10
Average earning assets$2,090,092
Average equity $232,945
Average loans $1,825,757
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