FDIC Certificate #: 35437 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Ameris Bank (#20504) Federal Reserve ID: 2901343 Date Established: July 09, 2001 WWW:http://www.islandscommunitybank.com Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 1 (Interstate: No) FDIC's unique #: 80035 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: No Date of Deposit Insurance: July 09, 2001 Last Structure Change Effective Date: December 31, 2006 Last Structure Change Process Date: January 16, 2007 Last Data Update: January 16, 2007 Data Source Date: April 05, 2012
Location
Address: 2348 Boundary Street, Beaufort, SC 29902 County: Beaufort 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 Core Based Statistical Area (CBSA): Hilton Head Island-Beaufort, SC (#25940) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $76.9 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2005)
Dollar figures in thousands
19Total employees (full-time equivalent)
$66,170Total assets
$1,105Cash and due from depository institutions
$134Interest-bearing balances
$2,270Securities
$4,835Federal funds sold & reverse repurchase agreements
$53,510Net loans & leases
$679Loan loss allowance
$0Trading account assets
$3,333Bank premises and fixed assets
$0Other real estate owned
$103Goodwill and other intangibles
$0Life insurance assets
$1,014All other assets
$66,170Total liabilities and capital
$60,394Total liabilities
$58,263Total deposits
$53,898Interest-bearing deposits
$58,263Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$1,700Other borrowed funds
$0Subordinated debt
$431All other liabilities
$5,776Total equity capital
$5,776Total bank equity capital
$5,776Perpetual preferred stock
$0Common stock
$3,000Surplus
$3,000Undivided profits
Memoranda
$-224Noncurrent loans and leases
$10,019Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$420Earning assets
$166Long-term assets (5+ years)
$299Average Assets, year-to-date
$60,749Average Assets, quarterly
$317Volatile liabilities
$57,650Insider loans
$63,408FHLB advances
$14,148Loans and leases held for sale
$3,499Unused loan commitments
$1,700Tier 1 (core) risk-based capital
$3,070Tier 2 risk-based capital
$0Total risk weighted assets
$10,019Total unused commitments
$0Restructured Loans and leases
$679Derivatives
Income and Expense (December 31, 2005)
Dollar figures in thousands
$3,872Total interest income
$1,404Total interest expense
$2,468Net interest income
$225Provision for loan and lease losses
$464Total noninterest income
$0Fiduciary activities
$158Service charges on deposit accounts
$0Trading account gains & fees
$306Additional noninterest income
$1,969Total noninterest expense
$1,034Salaries and employee benefits
$230Premises and equipment expense
$705Additional noninterest expense
$738Pre-tax net operating income
$0Securities gains (losses)
$198Applicable income taxes
$540Income before extraordinary items
$0Extraordinary gains - net
$540Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$33Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2005)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.34%Yield on earning assets
2.66%Cost of funding earning assets
4.68%Net interest margin
0.88%Noninterest income to earning assets
3.73%Noninterest expense to earning assets
0.94%Net operating income to assets
0.94%Return on assets (ROA)
1.28%Pretax return on assets
9.81%Return on equity (ROE)
9.81%Retained earnings to average equity (YTD only)
0.07%Net charge-offs to loans
681.82%Credit loss provision to net charge-offs
29.18%Efficiency ratio
67,156Assets per employee
3.48%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.25%Loss allowance to noncurrent loans
161.67%Noncurrent assets plus other real estate owned to assets
0.63%Noncurrent loans to loans
0.78%Net loans and leases to deposits
91.84%Net loans and leases to core deposits
119.40%Equity capital to assets
8.73%Core capital (leverage) ratio
9.06%Tier 1 risk-based capital ratio
10.48%Total risk-based capital ratio
Memoranda
$12Average assets
$57,650Average earning assets
$5,503Average equity
$52,779Average loans
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