Heritage First Bank in Rome, Georgia (GA)

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Heritage First Bank
GeneralFDIC Certificate #: 20761
Status: Active
Federal Reserve ID: 318947
Date Established: January 01, 1904
WWW: http://www.heritagefirstbank.com
Trust Powers Granted: No
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Offices: 3 (Domestic: 3, Interstate: No)
OTS Docket #: 17927
FDIC's unique #: 14339
Numeric code: 33
Regulator: OCC
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: No
Subchapter S Corporations: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: July 12, 1972
Last Structure Change Effective Date: Febuary 29, 2012
Last Structure Change Process Date: March 02, 2012
Last Data Update: March 02, 2012
Data Source Date: April 05, 2012
LocationAddress: 1700 Turner Mccall Boulevard, Rome, GA 30161
County: Floyd
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
Core Based Statistical Area (CBSA): Rome, GA (#40660)
CBSA Metro Statistical Area: Rome, GA (#40660)
Financial SummaryTotal assets: $96.9 mil
Equity capital: $8.6 mil
Deposits held in domestic offices: $88.1 mil
Return on assets (ROA): -0.54% (-$0.5 mil)
Quarterly return on assets: -0.33% (-$0.3 mil)
Return on Equity (ROE): -7.00% (-$0.6 mil)
Quarterly return on equity: -3.75% (-$0.3 mil)
Net income: -$0.6 mil
Quarterly Net income: -$0.1 mil
Pretax return on assets: -0.54% (-$523.2 mil)
Quarterly Pretax return on assets: -0.33% (-$319.7 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)
Total employees (full-time equivalent)33
Total assets$96,882
Cash and due from depository institutions$21,261
Interest-bearing balances$20,620
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$66,195
Loan loss allowance $585
Trading account assets$0
Bank premises and fixed assets$3,605
Other real estate owned$2,024
Goodwill and other intangibles$0
All other assets$736
Life insurance assets$96,882
Total liabilities and capital$88,248
Total liabilities$88,112
Total deposits$77,378
Interest-bearing deposits$88,112
Deposits held in domestic offices$97
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $136
All other liabilities $8,634
Total equity capital$8,634
Total bank equity capital$8,634
Perpetual preferred stock$0
Common stock$857
Undivided profits $-6,408
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $2,293
Earning assets $0
Long-term assets (5+ years) $335
Average Assets, year-to-date $89,876
Average Assets, quarterly $0
Volatile liabilities $102,319
Insider loans $95,727
FHLB advances $60,061
Loans and leases held for sale $96,845
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $8,597
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $3,910
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $4,836
Total interest expense $1,111
Net interest income $3,725
Provision for loan and lease losses $997
Total noninterest income $497
Fiduciary activities $0
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $497
Total noninterest expense $3,782
Salaries and employee benefits $1,816
Premises and equipment expense $390
Additional noninterest expense $1,576
Pre-tax net operating income -$557
Securities gains (losses) $0
Applicable income taxes $0
Income before extraordinary items -$557
Extraordinary gains - net $0
Net income attributable to bank -$557
Net charge-offs $0
Cash dividends -$557
Sale, conversion, retirement of capital stock, net $1,565
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 assets5.13%
Cost of funding earning assets 1.18%
Net interest margin 3.95%
Noninterest income to earning assets 0.53%
Noninterest expense to earning assets 4.01%
Net operating income to assets -0.54%
Return on assets (ROA) -0.54%
Pretax return on assets -0.54%
Return on equity (ROE) -7.00%
Retained earnings to average equity (YTD only) -7.00%
Net charge-offs to loans 2.18%
Credit loss provision to net charge-offs 63.71%
Efficiency ratio0.28%
Assets per employee$89,578
Cash dividends to net income (YTD only)2.94%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 0.88%
Noncurrent assets plus other real estate owned to assets 25.51%
Noncurrent loans to loans 4.46%
Net loans and leases to deposits3.43%
Net loans and leases to core deposits 75.13%
Equity capital to assets 81.09%
Core capital (leverage) ratio 8.91%
Tier 1 risk-based capital ratio 8.88%
Total risk-based capital ratio 14.31%
Average assets$15
Average earning assets$102,319
Average equity $7,959
Average loans $94,200
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3 Georgia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
014339Heritage First Bank1700 Turner Mccall Boulevard, Rome, GA 30161January 01, 1904Full Service Brick and Mortar
1445605West Rome Branch522 Shorter Avenue, Rome, GA 30165December 16, 2002Full Service Brick and Mortar
4496010Armuchee Branch2950 Martha Berry Boulevard Ne, Rome, GA 30165November 17, 2008Full Service Brick and Mortar
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