GrandSouth Bank in Greenville, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches

GrandSouth Bank - Overview

  • General
  • FDIC Certificate #: 34812
    Status: Active
    Federal Reserve ID: 2728661
    Bank Holding Company (Regulatory Top Holder): Grandsouth Bancorporation (RSSDID: 2929833, Location: Greenville, SC)
    Date Established: September 08, 1998
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Domestic: 4, Interstate: No)
    FDIC's unique #: 61660
    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: September 08, 1998
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 381 Halton Road, Greenville, SC 29606
    County: Greenville
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Columbia Sc
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Greenville-Spartanburg-Anderson, SC (#3160)
    Combined Statistical Area (CSA): Greenville-Spartanburg-Anderson, SC (#273)
    Core Based Statistical Area (CBSA): Greenville-Mauldin-Easley, SC (#24860)
    CBSA Metro Statistical Area: Greenville-Mauldin-Easley, SC (#24860)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $375.2 mil
    Equity capital: $45.1 mil
    Deposits held in domestic offices: $304.7 mil
    Return on assets (ROA): 0.65% ($2.4 mil)
    Quarterly return on assets: 0.59% ($2.2 mil)
    Return on Equity (ROE): 5.40% ($2.4 mil)
    Quarterly return on equity: 4.93% ($2.2 mil)
    Net income: $2.4 mil
    Quarterly Net income: $0.6 mil
    Pretax return on assets: 0.95% ($3,564.7 mil)
    Quarterly Pretax return on assets: 0.93% ($3,489.6 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, 2011)

  • Dollar figures in thousands
  • 68Total employees (full-time equivalent)
  • $375,227Total assets
  • $14,369Cash and due from depository institutions
  • $830Interest-bearing balances
  • $36,006Securities
  • $1,765Federal funds sold & reverse repurchase agreements
  • $295,510Net loans & leases
  • $6,365Loan loss allowance
  • $0Trading account assets
  • $4,332Bank premises and fixed assets
  • $10,249Other real estate owned
  • $737Goodwill and other intangibles
  • $375,227Life insurance assets
  • $12,259All other assets
  • $330,106Total liabilities and capital
  • $304,673Total liabilities
  • $280,648Total deposits
  • $304,673Interest-bearing deposits
  • $90Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $24,000Trading liabilities
  • $0Other borrowed funds
  • $1,433Subordinated debt
  • $45,121All other liabilities
  • $45,121Total equity capital
  • $45,121Total bank equity capital
  • $0Perpetual preferred stock
  • $4,683Common stock
  • $22,671Surplus
  • $17,767Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $8,845Income earned, not collected on loans
  • $6,095Earning assets
  • $1,615Long-term assets (5+ years)
  • $334,111Average Assets, year-to-date
  • $66,104Average Assets, quarterly
  • $372,159Volatile liabilities
  • $376,336Insider loans
  • $295,825FHLB advances
  • $375,981Loans and leases held for sale
  • $5,621Unused loan commitments
  • $2,115Tier 1 (core) risk-based capital
  • $43,441Tier 2 risk-based capital
  • $2,122Total risk weighted assets
  • $1,384Total unused commitments
  • $52,776Restructured Loans and leases
  • $5,795Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $21,141Total interest income
  • $3,953Total interest expense
  • $17,188Net interest income
  • $4,713Provision for loan and lease losses
  • -$169Total noninterest income
  • $0Fiduciary activities
  • $475Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$644Additional noninterest income
  • $8,751Total noninterest expense
  • $5,560Salaries and employee benefits
  • $651Premises and equipment expense
  • $2,540Additional noninterest expense
  • $3,555Pre-tax net operating income
  • -$24Securities gains (losses)
  • $1,124Applicable income taxes
  • $2,407Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,407Net income attributable to bank
  • $0Net charge-offs
  • $2,407Cash dividends
  • $4,430Sale, conversion, retirement of capital stock, net
  • $1,550Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.41%Yield on earning assets
  • 1.20%Cost of funding earning assets
  • 5.21%Net interest margin
  • -0.05%Noninterest income to earning assets
  • 2.65%Noninterest expense to earning assets
  • 0.65%Net operating income to assets
  • 0.65%Return on assets (ROA)
  • 0.95%Pretax return on assets
  • 5.40%Return on equity (ROE)
  • 1.92%Retained earnings to average equity (YTD only)
  • 1.53%Net charge-offs to loans
  • 106.39%Credit loss provision to net charge-offs
  • 1.87%Efficiency ratio
  • 51,419Assets per employee
  • 5.52%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 64.40%Loss allowance to loans
  • 2.11%Loss allowance to noncurrent loans
  • 71.96%Noncurrent assets plus other real estate owned to assets
  • 5.09%Noncurrent loans to loans
  • 2.93%Net loans and leases to deposits
  • 96.99%Net loans and leases to core deposits
  • 103.13%Equity capital to assets
  • 12.02%Core capital (leverage) ratio
  • 11.55%Tier 1 risk-based capital ratio
  • 14.68%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $372,159Average earning assets
  • $44,538Average equity
  • $330,031Average loans

List of branches

  • 4 South Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    061660Grandsouth Bank381 Halton Road, Greenville, SC 29606September 08, 1998Full Service Brick and Mortar
    2360750Fountain Inn Branch325 South Main Street, Fountain Inn, SC 29644May 21, 2001Full Service Brick and Mortar
    3444550Messenger Service381 Halton Road, Greenville, SC 29606March 01, 2004Limited Service Messenger
    4453541Anderson Branch325 South Main Street, Anderson, SC 29621April 17, 2006Full Service Brick and Mortar

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