Main Street Bank in Covington, Georgia (GA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 16, 2006

  • Main Street Bank in Covington, Georgia (GA)
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Main Street Bank - Overview

  • General
  • FDIC Certificate #: 9243
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Branch Banking and Trust Company (#9846)
    Federal Reserve ID: 467630
    Date Established: April 01, 1901
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 24 (Interstate: No)
    OTS Docket #: 13756
    FDIC's unique #: 5914
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: September 16, 2006
    Last Structure Change Process Date: October 10, 2006
    Last Data Update: October 10, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 1134 Clark Street, Covington, GA 30014
    County: Newton
    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
    Metropolitan Statistical Area (MSA): Atlanta, GA (#520)
    Combined Statistical Area (CSA): Atlanta-Sandy Springs-Gainesville, GA-AL (#122)
    Core Based Statistical Area (CBSA): Atlanta-Sandy Springs-Marietta, GA (#12060)
    CBSA Metro Statistical Area: Atlanta-Sandy Springs-Marietta, GA (#12060)
  • Financial Summary
  • Total assets: $2,570.2 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, 2005)

  • Dollar figures in thousands
  • 477Total employees (full-time equivalent)
  • $2,336,896Total assets
  • $46,022Cash and due from depository institutions
  • $2,324Interest-bearing balances
  • $245,656Securities
  • $12,400Federal funds sold & reverse repurchase agreements
  • $1,785,345Net loans & leases
  • $25,239Loan loss allowance
  • $0Trading account assets
  • $50,229Bank premises and fixed assets
  • $4,302Other real estate owned
  • $93,482Goodwill and other intangibles
  • $0Life insurance assets
  • $99,460All other assets
  • $2,336,896Total liabilities and capital
  • $2,012,361Total liabilities
  • $1,739,451Total deposits
  • $1,483,202Interest-bearing deposits
  • $1,739,451Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $34,706Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $224,747Other borrowed funds
  • $0Subordinated debt
  • $13,457All other liabilities
  • $324,535Total equity capital
  • $324,535Total bank equity capital
  • $324,535Perpetual preferred stock
  • $0Common stock
  • $4,333Surplus
  • $232,235Undivided profits
  • Memoranda
  • $87,967Noncurrent loans and leases
  • $348,455Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $21,401Earning assets
  • $133Long-term assets (5+ years)
  • $10,736Average Assets, year-to-date
  • $2,045,725Average Assets, quarterly
  • $174,513Volatile liabilities
  • $2,355,604Insider loans
  • $2,398,171FHLB advances
  • $582,049Loans and leases held for sale
  • $4,757Unused loan commitments
  • $224,570Tier 1 (core) risk-based capital
  • $150,000Tier 2 risk-based capital
  • $8,072Total risk weighted assets
  • $348,455Total unused commitments
  • $0Restructured Loans and leases
  • $24,482Derivatives

Income and Expense (December 31, 2005)

  • Dollar figures in thousands
  • $143,900Total interest income
  • $49,510Total interest expense
  • $94,390Net interest income
  • $8,210Provision for loan and lease losses
  • $19,257Total noninterest income
  • $0Fiduciary activities
  • $7,876Service charges on deposit accounts
  • $0Trading account gains & fees
  • $11,381Additional noninterest income
  • $56,099Total noninterest expense
  • $31,350Salaries and employee benefits
  • $9,988Premises and equipment expense
  • $14,761Additional noninterest expense
  • $49,338Pre-tax net operating income
  • -$1,938Securities gains (losses)
  • $15,266Applicable income taxes
  • $32,134Income before extraordinary items
  • $0Extraordinary gains - net
  • $32,134Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $8,154Sale, conversion, retirement of capital stock, net
  • $15,000Net operating income

Performance and Condition Ratios (December 31, 2005)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.95%Yield on earning assets
  • 2.39%Cost of funding earning assets
  • 4.56%Net interest margin
  • 0.93%Noninterest income to earning assets
  • 2.71%Noninterest expense to earning assets
  • 1.42%Net operating income to assets
  • 1.36%Return on assets (ROA)
  • 2.01%Pretax return on assets
  • 10.11%Return on equity (ROE)
  • 5.39%Retained earnings to average equity (YTD only)
  • 0.46%Net charge-offs to loans
  • 100.69%Credit loss provision to net charge-offs
  • 7.06%Efficiency ratio
  • 49,186Assets per employee
  • 4.90%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 46.68%Loss allowance to loans
  • 1.39%Loss allowance to noncurrent loans
  • 117.93%Noncurrent assets plus other real estate owned to assets
  • 1.10%Noncurrent loans to loans
  • 1.18%Net loans and leases to deposits
  • 102.64%Net loans and leases to core deposits
  • 132.19%Equity capital to assets
  • 13.89%Core capital (leverage) ratio
  • 10.12%Tier 1 risk-based capital ratio
  • 12.00%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $2,355,604Average earning assets
  • $317,914Average equity
  • $2,070,693Average loans

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