Heritage Federal Bank in Laurens, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of June 29, 2001

  • Heritage Federal Bank in Laurens, South Carolina (SC)
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Heritage Federal Bank - Overview

  • General
  • FDIC Certificate #: 30338
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: SouthBank (#28855)
    Federal Reserve ID: 124979
    Date Established: April 19, 1948
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 5194
    FDIC's unique #: 43172
    Numeric code: 33
    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: April 19, 1948
    Last Structure Change Effective Date: June 29, 2001
    Last Structure Change Process Date: July 18, 2001
    Last Data Update: July 18, 2001
    Data Source Date: April 05, 2012
  • Location
  • Address: 201 West Main Street, Laurens, SC 29360
    County: Laurens
    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
    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)
  • Financial Summary
  • Total assets: $290.2 mil

1992 - 1999 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, 2000)

  • Dollar figures in thousands
  • 44Total employees (full-time equivalent)
  • $292,015Total assets
  • $5,965Cash and due from depository institutions
  • $3,228Interest-bearing balances
  • $17,227Securities
  • $100Federal funds sold & reverse repurchase agreements
  • $247,627Net loans & leases
  • $2,710Loan loss allowance
  • $0Trading account assets
  • $4,892Bank premises and fixed assets
  • $735Other real estate owned
  • $247Goodwill and other intangibles
  • $0Life insurance assets
  • $15,222All other assets
  • $292,015Total liabilities and capital
  • $256,422Total liabilities
  • $211,427Total deposits
  • $208,850Interest-bearing deposits
  • $211,427Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $39,844Other borrowed funds
  • $0Subordinated debt
  • $5,151All other liabilities
  • $35,593Total equity capital
  • $35,593Total bank equity capital
  • $35,593Perpetual preferred stock
  • $0Common stock
  • $1Surplus
  • $39,946Undivided profits
  • Memoranda
  • $-4,354Noncurrent loans and leases
  • $31,167Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $6,993Earning assets
  • $0Long-term assets (5+ years)
  • $1,601Average Assets, year-to-date
  • $268,182Average Assets, quarterly
  • $0Volatile liabilities
  • $318,644Insider loans
  • $290,649FHLB advances
  • $109,951Loans and leases held for sale
  • $0Unused loan commitments
  • $39,844Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $31,167Total unused commitments
  • $735Restructured Loans and leases
  • $4,583Derivatives

Income and Expense (December 31, 2000)

  • Dollar figures in thousands
  • $24,560Total interest income
  • $14,757Total interest expense
  • $9,803Net interest income
  • $1,813Provision for loan and lease losses
  • $875Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $875Additional noninterest income
  • $9,466Total noninterest expense
  • $6,857Salaries and employee benefits
  • $793Premises and equipment expense
  • $1,816Additional noninterest expense
  • -$601Pre-tax net operating income
  • $550Securities gains (losses)
  • -$29Applicable income taxes
  • -$22Income before extraordinary items
  • $0Extraordinary gains - net
  • -$22Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $597Sale, conversion, retirement of capital stock, net
  • $29,534Net operating income

Performance and Condition Ratios (December 31, 2000)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 8.10%Yield on earning assets
  • 4.87%Cost of funding earning assets
  • 3.23%Net interest margin
  • 0.29%Noninterest income to earning assets
  • 3.12%Noninterest expense to earning assets
  • -0.12%Net operating income to assets
  • -0.01%Return on assets (ROA)
  • -0.02%Pretax return on assets
  • -0.04%Return on equity (ROE)
  • -55.12%Retained earnings to average equity (YTD only)
  • 0.22%Net charge-offs to loans
  • 303.69%Credit loss provision to net charge-offs
  • 2.03%Efficiency ratio
  • 88,106Assets per employee
  • 6.64%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • -134245.45%Loss allowance to loans
  • 1.08%Loss allowance to noncurrent loans
  • 38.75%Noncurrent assets plus other real estate owned to assets
  • 2.65%Noncurrent loans to loans
  • 2.79%Net loans and leases to deposits
  • 117.12%Net loans and leases to core deposits
  • 175.22%Equity capital to assets
  • 12.19%Core capital (leverage) ratio
  • 11.45%Tier 1 risk-based capital ratio
  • 17.56%Total risk-based capital ratio
  • Memoranda
  • $20Average assets
  • $318,644Average earning assets
  • $53,623Average equity
  • $303,070Average loans

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