FDIC Certificate #: 29873 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:First Community Bank (#13012) Federal Reserve ID: 1006670 Date Established: April 19, 1937 Bank Charter Class: Savings banks, state charter, supervised by the FDIC Offices: 3 (Interstate: No) OTS Docket #: 4239 FDIC's unique #: 42707 Numeric code: 41 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: April 19, 1937 Last Structure Change Effective Date: November 14, 2008 Last Structure Change Process Date: December 04, 2008 Last Data Update: December 04, 2008 Data Source Date: April 05, 2012
Location
Address: 347 North Main Street, Mooresville, NC 28115 County: Iredell 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 Combined Statistical Area (CSA): Charlotte-Gastonia-Salisbury, NC-SC (#172) Core Based Statistical Area (CBSA): Statesville-Mooresville, NC (#44380) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $158.4 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2007)
Dollar figures in thousands
29Total employees (full-time equivalent)
$153,506Total assets
$13,107Cash and due from depository institutions
$11,035Interest-bearing balances
$1,401Securities
$0Federal funds sold & reverse repurchase agreements
$133,635Net loans & leases
$787Loan loss allowance
$0Trading account assets
$770Bank premises and fixed assets
$70Other real estate owned
$0Goodwill and other intangibles
$2,598Life insurance assets
$4,523All other assets
$153,506Total liabilities and capital
$136,544Total liabilities
$134,254Total deposits
$130,341Interest-bearing deposits
$134,254Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$2,290All other liabilities
$16,962Total equity capital
$16,962Total bank equity capital
$16,962Perpetual preferred stock
$0Common stock
$0Surplus
$3,407Undivided profits
Memoranda
$13,555Noncurrent loans and leases
$12,774Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,087Earning assets
$0Long-term assets (5+ years)
$746Average Assets, year-to-date
$146,071Average Assets, quarterly
$108,882Volatile liabilities
$151,952Insider loans
$153,922FHLB advances
$37,174Loans and leases held for sale
$1,798Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$12,774Total unused commitments
$0Restructured Loans and leases
$787Derivatives
Income and Expense (December 31, 2007)
Dollar figures in thousands
$9,544Total interest income
$5,084Total interest expense
$4,460Net interest income
$164Provision for loan and lease losses
$222Total noninterest income
$0Fiduciary activities
$214Service charges on deposit accounts
$0Trading account gains & fees
$8Additional noninterest income
$3,835Total noninterest expense
$2,456Salaries and employee benefits
$388Premises and equipment expense
$991Additional noninterest expense
$683Pre-tax net operating income
$0Securities gains (losses)
$214Applicable income taxes
$469Income before extraordinary items
$0Extraordinary gains - net
$469Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$199Sale, conversion, retirement of capital stock, net
$840Net operating income
Performance and Condition Ratios (December 31, 2007)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.59%Yield on earning assets
3.51%Cost of funding earning assets
3.08%Net interest margin
0.15%Noninterest income to earning assets
2.65%Noninterest expense to earning assets
0.31%Net operating income to assets
0.31%Return on assets (ROA)
0.45%Pretax return on assets
2.75%Return on equity (ROE)
-2.18%Retained earnings to average equity (YTD only)
0.15%Net charge-offs to loans
82.41%Credit loss provision to net charge-offs
4.26%Efficiency ratio
81,909Assets per employee
5.29%Cash dividends to net income (YTD only)
Condition Ratios (%)
179.10%Loss allowance to loans
0.59%Loss allowance to noncurrent loans
72.40%Noncurrent assets plus other real estate owned to assets
0.75%Noncurrent loans to loans
0.81%Net loans and leases to deposits
99.54%Net loans and leases to core deposits
137.65%Equity capital to assets
11.05%Core capital (leverage) ratio
11.10%Tier 1 risk-based capital ratio
17.50%Total risk-based capital ratio
Memoranda
$18Average assets
$151,952Average earning assets
$17,041Average equity
$144,831Average loans
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