Mountain 1st Bank & Trust Company in Hendersonville, North Carolina (NC)



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Mountain 1st Bank & Trust Company routing number info

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Mountain 1st Bank & Trust Company
GeneralFDIC 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
WWW: http://www.mountain1st.com
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
LocationAddress: 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 SummaryTotal 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)
Total employees (full-time equivalent)155
Total assets$700,025
Cash and due from depository institutions$37,303
Interest-bearing balances$21,724
Securities$199,652
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$416,946
Loan loss allowance $10,650
Trading account assets$0
Bank premises and fixed assets$4,931
Other real estate owned$12,977
Goodwill and other intangibles$272
All other assets$27,944
Life insurance assets$700,025
Total liabilities and capital$681,468
Total liabilities$672,704
Total deposits$657,362
Interest-bearing deposits$672,704
Deposits held in domestic offices$95
% insured (estimated)605.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$3,952
Other borrowed funds $0
Subordinated debt $4,207
All other liabilities $18,557
Total equity capital$18,557
Total bank equity capital$18,557
Perpetual preferred stock$0
Common stock$50
Surplus$61,097
Undivided profits $-42,590
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $8,694
Income earned, not collected on loans $33,720
Earning assets $0
Long-term assets (5+ years) $2,721
Average Assets, year-to-date $638,322
Average Assets, quarterly $189,470
Volatile liabilities $721,223
Insider loans $713,502
FHLB advances $429,098
Loans and leases held for sale $717,523
Unused loan commitments $12,952
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $17,790
Total risk weighted assets $0
Total unused commitments $12,952
Restructured Loans and leases $40,557
Derivatives$15,524
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $28,028
Total interest expense $7,511
Net interest income $20,517
Provision for loan and lease losses $15,815
Total noninterest income $2,731
Fiduciary activities $0
Service charges on deposit accounts $1,484
Trading account gains & fees $0
Additional noninterest income $1,247
Total noninterest expense $20,882
Salaries and employee benefits $9,124
Premises and equipment expense $2,100
Additional noninterest expense $9,658
Pre-tax net operating income -$13,449
Securities gains (losses) $2,458
Applicable income taxes $9,451
Income before extraordinary items -$20,442
Extraordinary gains - net $0
Net income attributable to bank -$20,442
Net charge-offs $0
Cash dividends -$20,442
Sale, conversion, retirement of capital stock, net $21,356
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.27%
Cost of funding earning assets 1.14%
Net interest margin 3.12%
Noninterest income to earning assets 0.42%
Noninterest expense to earning assets 3.18%
Net operating income to assets -3.18%
Return on assets (ROA) -2.83%
Pretax return on assets -1.52%
Return on equity (ROE) -61.86%
Retained earnings to average equity (YTD only) -61.86%
Net charge-offs to loans 4.61%
Credit loss provision to net charge-offs 74.05%
Efficiency ratio0.11%
Assets per employee$89,823
Cash dividends to net income (YTD only)4.52%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.49%
Noncurrent assets plus other real estate owned to assets 31.58%
Noncurrent loans to loans 7.58%
Net loans and leases to deposits7.89%
Net loans and leases to core deposits 61.98%
Equity capital to assets 65.70%
Core capital (leverage) ratio 2.65%
Tier 1 risk-based capital ratio 2.48%
Total risk-based capital ratio 4.15%
Memoranda
Average assets$5
Average earning assets$721,223
Average equity $33,046
Average loans $656,565
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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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