Heritage Bank of the South in Albany, Georgia (GA), FL

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Heritage Bank of the South
GeneralFDIC Certificate #: 50028
Status: Active
Federal Reserve ID: 764982
Date Established: January 01, 1955
WWW: http://www.eheritagebank.com
Trust Powers Granted: No
Bank Charter Class: Savings banks, state charter, supervised by the FDIC
Offices: 22 (Domestic: 22, Interstate: Yes)
OTS Docket #: 17495
FDIC's unique #: 114423
Numeric code: 41
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: 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: July 02, 2001
Last Structure Change Effective Date: August 19, 2011
Last Structure Change Process Date: August 22, 2011
Last Data Update: August 22, 2011
Data Source Date: April 05, 2012
LocationAddress: 721 North Westover Boulevard, Albany, GA 31707
County: Dougherty
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
Metropolitan Statistical Area (MSA): Albany, GA (#120)
Core Based Statistical Area (CBSA): Albany, GA (#10500)
CBSA Metro Statistical Area: Albany, GA (#10500)
History of ChangesParticipated in FDIC Assisted Absorption/Consolidation/Merger
Financial SummaryTotal assets: $1,086.7 mil
Equity capital: $99.9 mil
Deposits held in domestic offices: $905.6 mil
Return on assets (ROA): 0.45% ($4.9 mil)
Quarterly return on assets: 0.52% ($5.7 mil)
Return on Equity (ROE): 4.72% ($4.7 mil)
Quarterly return on equity: 5.70% ($5.7 mil)
Net income: $4.4 mil
Quarterly Net income: $1.4 mil
Pretax return on assets: 0.60% ($6,520.0 mil)
Quarterly Pretax return on assets: 0.53% ($5,759.3 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)
Total employees (full-time equivalent)327
Total assets$1,086,660
Cash and due from depository institutions$77,363
Interest-bearing balances$43,100
Federal funds sold & reverse repurchase agreements$21,753
Net loans & leases$560,598
Loan loss allowance $7,494
Trading account assets$0
Bank premises and fixed assets$30,162
Other real estate owned$13,409
Goodwill and other intangibles$4,848
All other assets$119,510
Life insurance assets$1,086,660
Total liabilities and capital$986,767
Total liabilities$905,616
Total deposits$805,364
Interest-bearing deposits$905,616
Deposits held in domestic offices$95
% insured (estimated)35049.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$35,000
Other borrowed funds $0
Subordinated debt $11,102
All other liabilities $99,893
Total equity capital$99,893
Total bank equity capital$99,893
Perpetual preferred stock$0
Common stock$1
Undivided profits $12,307
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $7,471
Income earned, not collected on loans $7,043
Earning assets $0
Long-term assets (5+ years) $4,689
Average Assets, year-to-date $884,468
Average Assets, quarterly $311,518
Volatile liabilities $964,350
Insider loans $1,092,829
FHLB advances $542,309
Loans and leases held for sale $1,072,732
Unused loan commitments $15,610
Tier 1 (core) risk-based capital $13,514
Tier 2 risk-based capital $92,656
Total risk weighted assets $0
Total unused commitments $2,096
Restructured Loans and leases $82,165
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $39,434
Total interest expense $10,350
Net interest income $29,084
Provision for loan and lease losses $2,895
Total noninterest income $16,398
Fiduciary activities $0
Service charges on deposit accounts $4,777
Trading account gains & fees $0
Additional noninterest income $11,621
Total noninterest expense $37,400
Salaries and employee benefits $20,393
Premises and equipment expense $4,245
Additional noninterest expense $12,762
Pre-tax net operating income $5,187
Securities gains (losses) $640
Applicable income taxes $1,456
Income before extraordinary items $4,371
Extraordinary gains - net $0
Net income attributable to bank $4,371
Net charge-offs $0
Cash dividends $4,371
Sale, conversion, retirement of capital stock, net $3,699
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.93%
Cost of funding earning assets 1.29%
Net interest margin 3.64%
Noninterest income to earning assets 2.05%
Noninterest expense to earning assets 4.68%
Net operating income to assets 0.40%
Return on assets (ROA) 0.45%
Pretax return on assets 0.60%
Return on equity (ROE) 4.72%
Retained earnings to average equity (YTD only) 4.72%
Net charge-offs to loans 0.72%
Credit loss provision to net charge-offs 78.26%
Efficiency ratio2.18%
Assets per employee$80,709
Cash dividends to net income (YTD only)3.32%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.32%
Noncurrent assets plus other real estate owned to assets 106.40%
Noncurrent loans to loans 1.88%
Net loans and leases to deposits1.24%
Net loans and leases to core deposits 61.90%
Equity capital to assets 66.53%
Core capital (leverage) ratio 9.19%
Tier 1 risk-based capital ratio 8.64%
Total risk-based capital ratio 17.09%
Average assets$18
Average earning assets$964,350
Average equity $92,579
Average loans $799,711
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3 Florida Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
8454183Ocala Branch4726 Sw College Rd, Ocala, FL 34474August 08, 2006Full Service Brick and Mortar
10493014Ocala Boulevard Branch1409 Silver Springs Blvd, Ocala, FL 34470July 07, 2008Full Service Brick and Mortar
13358537West Duval Branch463 West Duval Street, Lake City, FL 32055June 30, 1990Full Service Brick and Mortar
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19 Georgia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0114423Heritage Bank Of The South721 North Westover Boulevard, Albany, GA 31707January 01, 1955Full Service Brick and Mortar
1432343East Albany Branch200 Loftus Drive, Albany, GA 31705July 02, 2001Full Service Brick and Mortar
5432347Sylvester Branch504 North Main Street, Sylvester, GA 31791July 02, 2001Full Service Brick and Mortar
7443122Downtown Branch310 West Oglethorpe Boulevard, Albany, GA 31701January 27, 2003Full Service Brick and Mortar
117677Heritagebank Branch104 West Main Street, Reidsville, GA 30453October 22, 1900Full Service Brick and Mortar
12461387Collins Branch204 Sw Main Street, Collins, GA 30421March 01, 2007Full Service Brick and Mortar
14510558Valdosta Roosevelt Drive Branch103 Roosevelt Drive, Valdosta, GA 31602July 05, 2010Full Service Brick and Mortar
1510801Adel Branch301 West Fourth Street, Adel, GA 31620January 01, 1948Full Service Brick and Mortar
1642164Baxley Branch198 East Parker Street, Baxley, GA 31513January 01, 1934Full Service Brick and Mortar
17274593Hazlehurst Branch22 East Jarman Street, Hazlehurst, GA 31539January 01, 1934Full Service Brick and Mortar
1846861Statesboro Branch335 South Main Street, Statesboro, GA 30458Febuary 20, 1991Full Service Brick and Mortar
19289436Northside Office726 Northside Drive East, Statesboro, GA 30458October 16, 1995Full Service Brick and Mortar
2060766Springfield Branch802 South Laurel Street, Springfield, GA 31329September 08, 1998Full Service Brick and Mortar
21290732Rincon Branch600 South Columbia Avenue, Rincon, GA 31326November 02, 1998Full Service Brick and Mortar
22441698Guyton Office Branch109 W. Central Blvd, Guyton, GA 31312June 13, 2005Full Service Brick and Mortar
23479337Port Wentworth Branch7224 Highway 21, Port Wentworth, GA 31407July 15, 2007Full Service Brick and Mortar
24520801Valdosta Inner Perimeter Road3277 Inner Perimeter Road, Valdosta, GA 31604June 20, 2011Full Service Brick and Mortar
25522053Lee County Branch104 Heritage Lane, Leesburg, GA 31763August 08, 2011Full Service Brick and Mortar
26359917Statesboro Branch201 South Main Street, Statesboro, GA 30459Febuary 05, 2002Full Service Brick and Mortar
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