Greer State Bank in Greer, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches

Greer State Bank - Overview

  • General
  • FDIC Certificate #: 27413
    Status: Active
    Federal Reserve ID: 1356526
    Bank Holding Company (Regulatory Top Holder): Greer Bancshares Incorporated (RSSDID: 3025648, Location: Greer, SC)
    Date Established: January 03, 1989
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 5 (Domestic: 5, Interstate: No)
    OTS Docket #: 11166
    FDIC's unique #: 39882
    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: January 03, 1989
    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: 1111 West Poinsett Street, Greer, SC 29652
    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: $382.5 mil
    Equity capital: $29.8 mil
    Deposits held in domestic offices: $281.8 mil
    Return on assets (ROA): -0.45% (-$1.7 mil)
    Quarterly return on assets: 0.35% ($1.3 mil)
    Return on Equity (ROE): -6.57% (-$2.0 mil)
    Quarterly return on equity: 4.61% ($1.4 mil)
    Net income: -$1.9 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: -0.45% (-$1,721.4 mil)
    Quarterly Pretax return on assets: 0.35% ($1,338.9 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
  • 78Total employees (full-time equivalent)
  • $382,534Total assets
  • $6,481Cash and due from depository institutions
  • $1,828Interest-bearing balances
  • $129,857Securities
  • $382Federal funds sold & reverse repurchase agreements
  • $220,055Net loans & leases
  • $6,747Loan loss allowance
  • $0Trading account assets
  • $4,174Bank premises and fixed assets
  • $6,469Other real estate owned
  • $0Goodwill and other intangibles
  • $382,534Life insurance assets
  • $15,116All other assets
  • $352,706Total liabilities and capital
  • $281,841Total liabilities
  • $244,750Total deposits
  • $281,841Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 17516.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $49,000Trading liabilities
  • $0Other borrowed funds
  • $4,349Subordinated debt
  • $29,828All other liabilities
  • $29,828Total equity capital
  • $29,828Total bank equity capital
  • $0Perpetual preferred stock
  • $9,796Common stock
  • $22,014Surplus
  • $-1,982Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $10,449Income earned, not collected on loans
  • $0Earning assets
  • $1,522Long-term assets (5+ years)
  • $352,122Average Assets, year-to-date
  • $160,629Average Assets, quarterly
  • $417,320Volatile liabilities
  • $384,185Insider loans
  • $260,954FHLB advances
  • $390,545Loans and leases held for sale
  • $7,274Unused loan commitments
  • $3,193Tier 1 (core) risk-based capital
  • $27,531Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $4,081Total unused commitments
  • $24,683Restructured Loans and leases
  • $1,965Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $17,300Total interest income
  • $6,001Total interest expense
  • $11,299Net interest income
  • $3,719Provision for loan and lease losses
  • $2,758Total noninterest income
  • $0Fiduciary activities
  • $751Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,007Additional noninterest income
  • $13,283Total noninterest expense
  • $5,267Salaries and employee benefits
  • $766Premises and equipment expense
  • $7,250Additional noninterest expense
  • -$2,945Pre-tax net operating income
  • $1,054Securities gains (losses)
  • $0Applicable income taxes
  • -$1,891Income before extraordinary items
  • $0Extraordinary gains - net
  • -$1,891Net income attributable to bank
  • $0Net charge-offs
  • -$1,891Cash dividends
  • $4,467Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.52%Yield on earning assets
  • 1.57%Cost of funding earning assets
  • 2.95%Net interest margin
  • 0.72%Noninterest income to earning assets
  • 3.47%Noninterest expense to earning assets
  • -0.71%Net operating income to assets
  • -0.45%Return on assets (ROA)
  • -0.45%Pretax return on assets
  • -6.57%Return on equity (ROE)
  • -6.57%Retained earnings to average equity (YTD only)
  • 1.81%Net charge-offs to loans
  • 83.25%Credit loss provision to net charge-offs
  • 0.17%Efficiency ratio
  • 94,494Assets per employee
  • 4.90%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.97%Loss allowance to noncurrent loans
  • 64.57%Noncurrent assets plus other real estate owned to assets
  • 4.42%Noncurrent loans to loans
  • 4.61%Net loans and leases to deposits
  • 78.08%Net loans and leases to core deposits
  • 83.94%Equity capital to assets
  • 7.80%Core capital (leverage) ratio
  • 7.05%Tier 1 risk-based capital ratio
  • 10.55%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $417,320Average earning assets
  • $28,788Average equity
  • $383,114Average loans

List of branches

  • 5 South Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    039882Greer State Bank1111 West Poinsett Street, Greer, SC 29652January 03, 1989Full Service Brick and Mortar
    2261962Greer Branch601 North Main Street, Greer, SC 29650September 01, 1992Full Service Brick and Mortar
    3261963Pleasant Grove Branch871 S Buncombe Rd, Greer, SC 29650November 02, 1998Full Service Brick and Mortar
    4443547Taylors Branch3317 Wade Hampton Boulelvard, Taylors, SC 29687January 10, 2005Full Service Brick and Mortar
    5468337Messenger Service1111 West Poinsett Street, Greer, SC 29652May 31, 2006Limited Service Messenger

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