MountainBank in Hendersonville, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 03, 2003

  • MountainBank in Hendersonville, North Carolina (NC)
  • Show street view No street view available for this location

MountainBank - Overview

  • General
  • FDIC Certificate #: 34438
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Carolina First Bank (#26849)
    Federal Reserve ID: 2586740
    Date Established: June 26, 1997
    WWW: http://www.mountainbank.net
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 19 (Interstate: No)
    OTS Docket #: 15870
    FDIC's unique #: 57202
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Oakar Institutions: Yes
    State Chartered: Yes
    Date of Deposit Insurance: June 26, 1997
    Last Structure Change Effective Date: October 03, 2003
    Last Structure Change Process Date: November 06, 2003
    Last Data Update: November 06, 2003
    Data Source Date: April 05, 2012
  • Location
  • Address: 201 Wren Drive, 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: $877.8 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, 2002)

  • Dollar figures in thousands
  • 207Total employees (full-time equivalent)
  • $839,232Total assets
  • $26,622Cash and due from depository institutions
  • $16,393Interest-bearing balances
  • $73,732Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $700,786Net loans & leases
  • $11,192Loan loss allowance
  • $0Trading account assets
  • $8,955Bank premises and fixed assets
  • $1,426Other real estate owned
  • $2,489Goodwill and other intangibles
  • $0Life insurance assets
  • $25,222All other assets
  • $839,232Total liabilities and capital
  • $774,395Total liabilities
  • $683,351Total deposits
  • $618,147Interest-bearing deposits
  • $683,351Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $14,204Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $71,920Other borrowed funds
  • $0Subordinated debt
  • $4,920All other liabilities
  • $64,837Total equity capital
  • $64,837Total bank equity capital
  • $64,837Perpetual preferred stock
  • $0Common stock
  • $8,394Surplus
  • $45,611Undivided profits
  • Memoranda
  • $10,832Noncurrent loans and leases
  • $96,723Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $2,894Earning assets
  • $0Long-term assets (5+ years)
  • $3,832Average Assets, year-to-date
  • $790,911Average Assets, quarterly
  • $101,106Volatile liabilities
  • $690,240Insider loans
  • $793,278FHLB advances
  • $194,420Loans and leases held for sale
  • $17,583Unused loan commitments
  • $71,210Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $32,857Total risk weighted assets
  • $96,723Total unused commitments
  • $0Restructured Loans and leases
  • $8,892Derivatives

Income and Expense (December 31, 2002)

  • Dollar figures in thousands
  • $46,038Total interest income
  • $18,141Total interest expense
  • $27,897Net interest income
  • $5,300Provision for loan and lease losses
  • $6,250Total noninterest income
  • $0Fiduciary activities
  • $2,431Service charges on deposit accounts
  • $0Trading account gains & fees
  • $3,819Additional noninterest income
  • $17,842Total noninterest expense
  • $9,429Salaries and employee benefits
  • $2,623Premises and equipment expense
  • $5,790Additional noninterest expense
  • $11,005Pre-tax net operating income
  • $265Securities gains (losses)
  • $4,281Applicable income taxes
  • $6,989Income before extraordinary items
  • $0Extraordinary gains - net
  • $6,989Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $1,222Sale, conversion, retirement of capital stock, net
  • $350Net operating income

Performance and Condition Ratios (December 31, 2002)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.11%Yield on earning assets
  • 2.80%Cost of funding earning assets
  • 4.31%Net interest margin
  • 0.96%Noninterest income to earning assets
  • 2.75%Noninterest expense to earning assets
  • 0.99%Net operating income to assets
  • 1.01%Return on assets (ROA)
  • 1.63%Pretax return on assets
  • 12.87%Return on equity (ROE)
  • 12.23%Retained earnings to average equity (YTD only)
  • 0.21%Net charge-offs to loans
  • 433.72%Credit loss provision to net charge-offs
  • 13.34%Efficiency ratio
  • 51,281Assets per employee
  • 4.05%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 5.01%Loss allowance to loans
  • 1.57%Loss allowance to noncurrent loans
  • 386.73%Noncurrent assets plus other real estate owned to assets
  • 0.51%Noncurrent loans to loans
  • 0.41%Net loans and leases to deposits
  • 102.55%Net loans and leases to core deposits
  • 139.28%Equity capital to assets
  • 7.73%Core capital (leverage) ratio
  • 7.85%Tier 1 risk-based capital ratio
  • 8.76%Total risk-based capital ratio
  • Memoranda
  • $10Average assets
  • $690,240Average earning assets
  • $54,297Average equity
  • $647,784Average loans

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