Mountain 1st Bank & Trust Company in Hendersonville, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

Mountain 1st Bank & Trust Company - Overview

  • General
  • FDIC Certificate #: 57763
    Status: Active
    Federal Reserve ID: 3261549
    Bank Holding Company (Regulatory Top Holder): 1st Financial Services Corporation (RSSDID: 3715257, Location: Hendersonville, NC)
    Date Established: April 30, 2004
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 12 (Domestic: 12, Interstate: No)
    FDIC's unique #: 424213
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: April 30, 2004
    Last Structure Change Effective Date: July 12, 2010
    Last Structure Change Process Date: July 12, 2010
    Last Data Update: July 12, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 101 Jack Street, Hendersonville, NC 28792
    County: Henderson
    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): Asheville-Brevard, NC (#120)
    Core Based Statistical Area (CBSA): Asheville, NC (#11700)
    CBSA Metro Statistical Area: Asheville, NC (#11700)
  • Financial Summary
  • Total assets: $700.0 mil
    Equity capital: $18.6 mil
    Deposits held in domestic offices: $672.7 mil
    Return on assets (ROA): -2.83% (-$19.8 mil)
    Quarterly return on assets: -8.41% (-$58.9 mil)
    Return on Equity (ROE): -61.86% (-$11.8 mil)
    Quarterly return on equity: -231.10% (-$43.9 mil)
    Net income: -$20.4 mil
    Quarterly Net income: -$15.0 mil
    Pretax return on assets: -1.52% (-$10,640.4 mil)
    Quarterly Pretax return on assets: -3.76% (-$26,320.9 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, 2011)

  • Dollar figures in thousands
  • 155Total employees (full-time equivalent)
  • $700,025Total assets
  • $37,303Cash and due from depository institutions
  • $21,724Interest-bearing balances
  • $199,652Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $416,946Net loans & leases
  • $10,650Loan loss allowance
  • $0Trading account assets
  • $4,931Bank premises and fixed assets
  • $12,977Other real estate owned
  • $272Goodwill and other intangibles
  • $700,025Life insurance assets
  • $27,944All other assets
  • $681,468Total liabilities and capital
  • $672,704Total liabilities
  • $657,362Total deposits
  • $672,704Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 605.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $3,952Trading liabilities
  • $0Other borrowed funds
  • $4,207Subordinated debt
  • $18,557All other liabilities
  • $18,557Total equity capital
  • $18,557Total bank equity capital
  • $0Perpetual preferred stock
  • $50Common stock
  • $61,097Surplus
  • $-42,590Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $8,694Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $33,720Income earned, not collected on loans
  • $0Earning assets
  • $2,721Long-term assets (5+ years)
  • $638,322Average Assets, year-to-date
  • $189,470Average Assets, quarterly
  • $721,223Volatile liabilities
  • $713,502Insider loans
  • $429,098FHLB advances
  • $717,523Loans and leases held for sale
  • $12,952Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $17,790Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $12,952Total unused commitments
  • $40,557Restructured Loans and leases
  • $15,524Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $28,028Total interest income
  • $7,511Total interest expense
  • $20,517Net interest income
  • $15,815Provision for loan and lease losses
  • $2,731Total noninterest income
  • $0Fiduciary activities
  • $1,484Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,247Additional noninterest income
  • $20,882Total noninterest expense
  • $9,124Salaries and employee benefits
  • $2,100Premises and equipment expense
  • $9,658Additional noninterest expense
  • -$13,449Pre-tax net operating income
  • $2,458Securities gains (losses)
  • $9,451Applicable income taxes
  • -$20,442Income before extraordinary items
  • $0Extraordinary gains - net
  • -$20,442Net income attributable to bank
  • $0Net charge-offs
  • -$20,442Cash dividends
  • $21,356Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.27%Yield on earning assets
  • 1.14%Cost of funding earning assets
  • 3.12%Net interest margin
  • 0.42%Noninterest income to earning assets
  • 3.18%Noninterest expense to earning assets
  • -3.18%Net operating income to assets
  • -2.83%Return on assets (ROA)
  • -1.52%Pretax return on assets
  • -61.86%Return on equity (ROE)
  • -61.86%Retained earnings to average equity (YTD only)
  • 4.61%Net charge-offs to loans
  • 74.05%Credit loss provision to net charge-offs
  • 0.11%Efficiency ratio
  • 89,823Assets per employee
  • 4.52%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.49%Loss allowance to noncurrent loans
  • 31.58%Noncurrent assets plus other real estate owned to assets
  • 7.58%Noncurrent loans to loans
  • 7.89%Net loans and leases to deposits
  • 61.98%Net loans and leases to core deposits
  • 65.70%Equity capital to assets
  • 2.65%Core capital (leverage) ratio
  • 2.48%Tier 1 risk-based capital ratio
  • 4.15%Total risk-based capital ratio
  • Memoranda
  • $5Average assets
  • $721,223Average earning assets
  • $33,046Average equity
  • $656,565Average loans

List of branches

  • 12 North Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0424213Mountain 1st Bank & Trust Company101 Jack Street, Hendersonville, NC 28792April 30, 2004Full Service Brick and Mortar
    1430252South Office Branch203 Greenville Hwy, Hendersonville, NC 28792April 30, 2004Full Service Brick and Mortar
    3437788Polk County Branch80 Walker Street, Columbus, NC 28722January 26, 2005Full Service Brick and Mortar
    4440704Asheville Coxe Avenue Branch52-B Coxe Avenue, Asheville, NC 28801May 26, 2005Full Service Brick and Mortar
    5442604Waynesville Branch1637 S. Main Street, Waynesville, NC 28786August 09, 2004Full Service Brick and Mortar
    6445472Fletcher Branch3270 Hendersonville Road, Fletcher, NC 28732September 19, 2005Full Service Brick and Mortar
    7450822Brevard Branch19 Chestnut St, Brevard, NC 28712January 03, 2006Full Service Brick and Mortar
    8451779Marion Branch174 Highway 70 West, Marion, NC 28752May 10, 2006Full Service Brick and Mortar
    9451780Etowah Branch6534 Brevard Road, Etowah, NC 28729May 12, 2006Full Service Brick and Mortar
    10455380Shelby Branch800 South Lafayette Street, Shelby, NC 28150September 08, 2006Full Service Brick and Mortar
    13467469Forest City Branch102 West Main Street, Forest City, NC 28043July 30, 2007Full Service Brick and Mortar
    16483139Hickory Main Branch1880 N Center St, Hickory, NC 28601November 10, 2008Full Service Brick and Mortar

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