Main Street Bank in Covington, Georgia (GA)

Show street view No street view available for this location
Table of contents:
Main Street Bank
GeneralFDIC 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
LocationAddress: 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 SummaryTotal 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)
Total employees (full-time equivalent)477
Total assets$2,336,896
Cash and due from depository institutions$46,022
Interest-bearing balances$2,324
Federal funds sold & reverse repurchase agreements$12,400
Net loans & leases$1,785,345
Loan loss allowance $25,239
Trading account assets$0
Bank premises and fixed assets$50,229
Other real estate owned$4,302
Goodwill and other intangibles$93,482
All other assets$99,460
Life insurance assets$0
Total liabilities and capital$2,336,896
Total liabilities$2,012,361
Total deposits$1,739,451
Interest-bearing deposits$1,483,202
Deposits held in domestic offices$1,739,451
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $34,706
Trading liabilities$0
Other borrowed funds $224,747
Subordinated debt $0
All other liabilities $13,457
Total equity capital$324,535
Total bank equity capital$324,535
Perpetual preferred stock$324,535
Common stock$0
Undivided profits $232,235
Noncurrent loans and leases $87,967
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $348,455
Income earned, not collected on loans $0
Earning assets $21,401
Long-term assets (5+ years) $133
Average Assets, year-to-date $10,736
Average Assets, quarterly $2,045,725
Volatile liabilities $174,513
Insider loans $2,355,604
FHLB advances $2,398,171
Loans and leases held for sale $582,049
Unused loan commitments $4,757
Tier 1 (core) risk-based capital $224,570
Tier 2 risk-based capital $150,000
Total risk weighted assets $8,072
Total unused commitments $348,455
Restructured Loans and leases $0
Back to page top, Back to table top

Income and Expense (December 31, 2005)
(Dollar figures in thousands)
Total interest income $143,900
Total interest expense $49,510
Net interest income $94,390
Provision for loan and lease losses $8,210
Total noninterest income $19,257
Fiduciary activities $0
Service charges on deposit accounts $7,876
Trading account gains & fees $0
Additional noninterest income $11,381
Total noninterest expense $56,099
Salaries and employee benefits $31,350
Premises and equipment expense $9,988
Additional noninterest expense $14,761
Pre-tax net operating income $49,338
Securities gains (losses) -$1,938
Applicable income taxes $15,266
Income before extraordinary items $32,134
Extraordinary gains - net $0
Net income attributable to bank $32,134
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $8,154
Net operating income $15,000
Back to page top, Back to table top

Performance and Condition Ratios (December 31, 2005)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.95%
Cost of funding earning assets 2.39%
Net interest margin 4.56%
Noninterest income to earning assets 0.93%
Noninterest expense to earning assets 2.71%
Net operating income to assets 1.42%
Return on assets (ROA) 1.36%
Pretax return on assets 2.01%
Return on equity (ROE) 10.11%
Retained earnings to average equity (YTD only) 5.39%
Net charge-offs to loans 0.46%
Credit loss provision to net charge-offs 100.69%
Efficiency ratio7.06%
Assets per employee$49,186
Cash dividends to net income (YTD only)4.90%
Condition Ratios (%)
Loss allowance to loans 46.68%
Loss allowance to noncurrent loans 1.39%
Noncurrent assets plus other real estate owned to assets 117.93%
Noncurrent loans to loans 1.10%
Net loans and leases to deposits1.18%
Net loans and leases to core deposits 102.64%
Equity capital to assets 132.19%
Core capital (leverage) ratio 13.89%
Tier 1 risk-based capital ratio 10.12%
Total risk-based capital ratio 12.00%
Average assets$13
Average earning assets$2,355,604
Average equity $317,914
Average loans $2,070,693
Back to page top, Back to table top

User Contributions:

Comment about this bank, ask questions, or add new information about it:


This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Main Street Bank.
Based on public records. Inadvertent errors are possible. does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.