LifeStore Bank in West Jefferson, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • LifeStore Bank in West Jefferson, North Carolina (NC)
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LifeStore Bank - Overview

  • General
  • FDIC Certificate #: 31217
    Status: Active
    Federal Reserve ID: 715872
    Date Established: January 01, 1939
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 7 (Domestic: 7, Interstate: No)
    OTS Docket #: 6555
    FDIC's unique #: 44051
    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: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: March 22, 1961
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 205 South Jefferson Avenue, West Jefferson, NC 28694
    County: Ashe
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Charlotte
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Southeast
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $286.2 mil
    Equity capital: $24.8 mil
    Deposits held in domestic offices: $212.4 mil
    Return on assets (ROA): 0.10% ($0.3 mil)
    Quarterly return on assets: 0.43% ($1.2 mil)
    Return on Equity (ROE): 1.19% ($0.3 mil)
    Quarterly return on equity: 5.01% ($1.3 mil)
    Net income: $0.3 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 0.00% ($0.0 mil)
    Quarterly Pretax return on assets: 0.55% ($1,573.9 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
  • 82Total employees (full-time equivalent)
  • $286,159Total assets
  • $18,390Cash and due from depository institutions
  • $13,764Interest-bearing balances
  • $34,522Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $208,144Net loans & leases
  • $3,476Loan loss allowance
  • $0Trading account assets
  • $10,621Bank premises and fixed assets
  • $4,313Other real estate owned
  • $1,236Goodwill and other intangibles
  • $286,162Life insurance assets
  • $8,933All other assets
  • $261,399Total liabilities and capital
  • $212,353Total liabilities
  • $193,759Total deposits
  • $212,353Interest-bearing deposits
  • $97Deposits held in domestic offices
  • 6000.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $41,000Trading liabilities
  • $0Other borrowed funds
  • $2,046Subordinated debt
  • $24,763All other liabilities
  • $24,763Total equity capital
  • $24,763Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $12,891Surplus
  • $11,872Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $9,556Income earned, not collected on loans
  • $0Earning assets
  • $1,468Long-term assets (5+ years)
  • $256,430Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $288,723Volatile liabilities
  • $286,740Insider loans
  • $206,751FHLB advances
  • $285,434Loans and leases held for sale
  • $993Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $24,038Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $25,924Restructured Loans and leases
  • $1,761Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $13,362Total interest income
  • $3,626Total interest expense
  • $9,736Net interest income
  • $2,269Provision for loan and lease losses
  • $2,185Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,185Additional noninterest income
  • $9,649Total noninterest expense
  • $4,680Salaries and employee benefits
  • $1,515Premises and equipment expense
  • $3,454Additional noninterest expense
  • $3Pre-tax net operating income
  • $0Securities gains (losses)
  • -$283Applicable income taxes
  • $286Income before extraordinary items
  • $0Extraordinary gains - net
  • $286Net income attributable to bank
  • $0Net charge-offs
  • $286Cash dividends
  • $1,763Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.19%Yield on earning assets
  • 1.41%Cost of funding earning assets
  • 3.78%Net interest margin
  • 0.85%Noninterest income to earning assets
  • 3.75%Noninterest expense to earning assets
  • 0.10%Net operating income to assets
  • 0.10%Return on assets (ROA)
  • 0.00%Pretax return on assets
  • 1.19%Return on equity (ROE)
  • 1.19%Retained earnings to average equity (YTD only)
  • 0.85%Net charge-offs to loans
  • 128.70%Credit loss provision to net charge-offs
  • 1.29%Efficiency ratio
  • 80,941Assets per employee
  • 3.49%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.64%Loss allowance to noncurrent loans
  • 36.38%Noncurrent assets plus other real estate owned to assets
  • 4.85%Noncurrent loans to loans
  • 4.52%Net loans and leases to deposits
  • 98.02%Net loans and leases to core deposits
  • 108.19%Equity capital to assets
  • 8.65%Core capital (leverage) ratio
  • 8.42%Tier 1 risk-based capital ratio
  • 11.63%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $288,723Average earning assets
  • $24,022Average equity
  • $257,411Average loans

List of branches

  • 7 North Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    044051Lifestore Bank205 South Jefferson Avenue, West Jefferson, NC 28694January 01, 1939Full Service Brick and Mortar
    1283827Jefferson Branch840 East Main Street, Jefferson, NC 28640April 11, 1994Full Service Brick and Mortar
    3283829Warrensville Branch4951 Nc Highway 88 W, Warrensville, NC 28693September 27, 1995Full Service Brick and Mortar
    4283830Sparta Branch403 South Main Street, Sparta, NC 28675March 16, 1998Full Service Brick and Mortar
    6356793Boone Branch1675 Blowing Rock Road, Boone, NC 28607March 01, 1999Full Service Brick and Mortar
    7363164Wal-Mart Branch1489 Mount Jefferson Road, West Jefferson, NC 28694October 24, 2001Full Service Retail
    83660941441 Mount Jefferson Road Branch1441 Mount Jefferson Road, West Jefferson, NC 28694May 29, 2002Full Service Brick and Mortar

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