Heritage Bank of the South in Albany, Georgia (GA), FL
| Heritage Bank of the South | |
|---|---|
| General | FDIC 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 |
| Location | Address: 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 Changes | Participated in FDIC Assisted Absorption/Consolidation/Merger |
| Financial Summary | Total 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) |
| 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 |
| Securities | $259,017 |
| 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 |
| Surplus | $87,585 |
| Undivided profits | $12,307 |
| Memoranda | |
| 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 |
| Derivatives | $11,978 |
| 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 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.93% |
| 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 ratio | 2.18% |
| 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 deposits | 1.24% |
| 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% |
| Memoranda | |
| Average assets | $18 |
| Average earning assets | $964,350 |
| Average equity | $92,579 |
| Average loans | $799,711 |
| 3 Florida Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 8 | 454183 | Ocala Branch | 4726 Sw College Rd, Ocala, FL 34474 | August 08, 2006 | Full Service Brick and Mortar |  |
| 10 | 493014 | Ocala Boulevard Branch | 1409 Silver Springs Blvd, Ocala, FL 34470 | July 07, 2008 | Full Service Brick and Mortar | |
| 13 | 358537 | West Duval Branch | 463 West Duval Street, Lake City, FL 32055 | June 30, 1990 | Full Service Brick and Mortar | |
| 19 Georgia Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 114423 | Heritage Bank Of The South | 721 North Westover Boulevard, Albany, GA 31707 | January 01, 1955 | Full Service Brick and Mortar |  |
| 1 | 432343 | East Albany Branch | 200 Loftus Drive, Albany, GA 31705 | July 02, 2001 | Full Service Brick and Mortar | |
| 5 | 432347 | Sylvester Branch | 504 North Main Street, Sylvester, GA 31791 | July 02, 2001 | Full Service Brick and Mortar | |
| 7 | 443122 | Downtown Branch | 310 West Oglethorpe Boulevard, Albany, GA 31701 | January 27, 2003 | Full Service Brick and Mortar | |
| 11 | 7677 | Heritagebank Branch | 104 West Main Street, Reidsville, GA 30453 | October 22, 1900 | Full Service Brick and Mortar | |
| 12 | 461387 | Collins Branch | 204 Sw Main Street, Collins, GA 30421 | March 01, 2007 | Full Service Brick and Mortar | |
| 14 | 510558 | Valdosta Roosevelt Drive Branch | 103 Roosevelt Drive, Valdosta, GA 31602 | July 05, 2010 | Full Service Brick and Mortar | |
| 15 | 10801 | Adel Branch | 301 West Fourth Street, Adel, GA 31620 | January 01, 1948 | Full Service Brick and Mortar | |
| 16 | 42164 | Baxley Branch | 198 East Parker Street, Baxley, GA 31513 | January 01, 1934 | Full Service Brick and Mortar | |
| 17 | 274593 | Hazlehurst Branch | 22 East Jarman Street, Hazlehurst, GA 31539 | January 01, 1934 | Full Service Brick and Mortar | |
| 18 | 46861 | Statesboro Branch | 335 South Main Street, Statesboro, GA 30458 | Febuary 20, 1991 | Full Service Brick and Mortar | |
| 19 | 289436 | Northside Office | 726 Northside Drive East, Statesboro, GA 30458 | October 16, 1995 | Full Service Brick and Mortar | |
| 20 | 60766 | Springfield Branch | 802 South Laurel Street, Springfield, GA 31329 | September 08, 1998 | Full Service Brick and Mortar | |
| 21 | 290732 | Rincon Branch | 600 South Columbia Avenue, Rincon, GA 31326 | November 02, 1998 | Full Service Brick and Mortar | |
| 22 | 441698 | Guyton Office Branch | 109 W. Central Blvd, Guyton, GA 31312 | June 13, 2005 | Full Service Brick and Mortar | |
| 23 | 479337 | Port Wentworth Branch | 7224 Highway 21, Port Wentworth, GA 31407 | July 15, 2007 | Full Service Brick and Mortar | |
| 24 | 520801 | Valdosta Inner Perimeter Road | 3277 Inner Perimeter Road, Valdosta, GA 31604 | June 20, 2011 | Full Service Brick and Mortar | |
| 25 | 522053 | Lee County Branch | 104 Heritage Lane, Leesburg, GA 31763 | August 08, 2011 | Full Service Brick and Mortar | |
| 26 | 359917 | Statesboro Branch | 201 South Main Street, Statesboro, GA 30459 | Febuary 05, 2002 | Full Service Brick and Mortar | |
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