Gwinnett Federal Bank, Federal Savings Bank in Lawrenceville, Georgia (GA)



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Gwinnett Federal Bank, Federal Savings Bank
GeneralFDIC Certificate #: 29662
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Bank South (#2116)
Federal Reserve ID: 525071
Date Established: January 01, 1931
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
OTS Docket #: 3845
FDIC's unique #: 42496
Numeric code: 34
Regulator: OTS
Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
FDIC Insured: Yes
SAIF Insured: Yes
Insured Savings Institution: Yes
State Chartered: No
Date of Deposit Insurance: July 08, 1936
Last Structure Change Effective Date: Febuary 17, 1995
Last Structure Change Process Date: Febuary 23, 1995
Last Data Update: Febuary 23, 1995
Data Source Date: April 05, 2012
LocationAddress: 750 Perry Street Sw, Lawrenceville, GA 30245
County: Gwinnett
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Atlanta
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Atlanta, GA (#520)
Combined Statistical Area (CSA): Atlanta-Sandy Springs-Gainesville, GA-AL (#122)
Core Based Statistical Area (CBSA): Atlanta-Sandy Springs-Marietta, GA (#12060)
CBSA Metro Statistical Area: Atlanta-Sandy Springs-Marietta, GA (#12060)
Financial SummaryTotal assets: $318.8 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$118
Cash and due from depository institutions$318,789
Interest-bearing balances$54,138
Securities$44,552
Federal funds sold & reverse repurchase agreements$90,569
Net loans & leases$0
Loan loss allowance $162,103
Trading account assets$2,784
Bank premises and fixed assets$0
Other real estate owned$5,936
Goodwill and other intangibles$411
All other assets$0
Life insurance assets$5,632
Total liabilities and capital$0
Total liabilities$318,789
Total deposits$286,483
Interest-bearing deposits$284,897
Deposits held in domestic offices$249,310
% insured (estimated)284897.00%
Federal funds purchased & repurchase agreements $94
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $0
Total equity capital$1,586
Total bank equity capital$1,586
Perpetual preferred stock$32,306
Common stock$0
Surplus$1,678
Undivided profits $13,748
Memoranda
Noncurrent loans and leases $16,880
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $2,148
Earning assets $984
Long-term assets (5+ years) $297,224
Average Assets, year-to-date $0
Average Assets, quarterly $323,675
Volatile liabilities $324,583
Insider loans $41,479
FHLB advances $905
Loans and leases held for sale $0
Unused loan commitments $0
Tier 1 (core) risk-based capital $26,738
Tier 2 risk-based capital $0
Total risk weighted assets $30,700
Total unused commitments $177,688
Restructured Loans and leases $0
Derivatives$0
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Income and Expense (December 31, 1994)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $22,589
Net interest income $9,948
Provision for loan and lease losses $12,641
Total noninterest income $1,202
Fiduciary activities $1,993
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $0
Total noninterest expense $1,993
Salaries and employee benefits $11,668
Premises and equipment expense $4,424
Additional noninterest expense $2,536
Pre-tax net operating income $4,708
Securities gains (losses) $1,764
Applicable income taxes $370
Income before extraordinary items $3,300
Extraordinary gains - net -$1,166
Net income attributable to bank $0
Net charge-offs -$1,166
Cash dividends $387
Sale, conversion, retirement of capital stock, net $0
Net operating income $0
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Performance and Condition Ratios (December 31, 1994)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 7.49%
Net interest margin 3.30%
Noninterest income to earning assets 4.19%
Noninterest expense to earning assets 0.66%
Net operating income to assets 3.87%
Return on assets (ROA) -0.43%
Pretax return on assets -0.36%
Return on equity (ROE) 0.66%
Retained earnings to average equity (YTD only) -3.27%
Net charge-offs to loans -3.27%
Credit loss provision to net charge-offs 0.24%
Efficiency ratio310.59%
Assets per employee$79,732
Cash dividends to net income (YTD only)2.70%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.69%
Noncurrent assets plus other real estate owned to assets 129.61%
Noncurrent loans to loans 0.80%
Net loans and leases to deposits1.30%
Net loans and leases to core deposits 56.90%
Equity capital to assets 66.59%
Core capital (leverage) ratio 10.13%
Tier 1 risk-based capital ratio 9.70%
Total risk-based capital ratio 17.28%
Memoranda
Average assets$19
Average earning assets$323,675
Average equity $35,660
Average loans $301,512
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