New Horizons Bank in East Ellijay, Georgia (GA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 15, 2011

New Horizons Bank - Overview

  • General
  • FDIC Certificate #: 57705
    Status: Inactive
    Closing history: Absorption - Assisted
    Acquiring institution: Citizens South Bank (#28833)
    Federal Reserve ID: 3236396
    Date Established: May 21, 2004
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Interstate: No)
    FDIC's unique #: 420387
    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: May 21, 2004
    Last Structure Change Effective Date: April 15, 2011
    Last Structure Change Process Date: April 18, 2011
    Last Data Update: April 18, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 489 Highland Xing, East Ellijay, GA 30540
    County: Gilmer
    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
  • Financial Summary
  • Total assets: $103.1 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, 2010)

  • Dollar figures in thousands
  • 22Total employees (full-time equivalent)
  • $110,711Total assets
  • $11,710Cash and due from depository institutions
  • $11,313Interest-bearing balances
  • $10,433Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $74,154Net loans & leases
  • $3,908Loan loss allowance
  • $0Trading account assets
  • $3,795Bank premises and fixed assets
  • $9,562Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $1,057All other assets
  • $110,711Total liabilities and capital
  • $110,226Total liabilities
  • $106,121Total deposits
  • $101,667Interest-bearing deposits
  • $106,121Deposits held in domestic offices
  • 99.63%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $4,000Other borrowed funds
  • $0Subordinated debt
  • $105All other liabilities
  • $485Total equity capital
  • $485Total bank equity capital
  • $485Perpetual preferred stock
  • $0Common stock
  • $4,000Surplus
  • $6,510Undivided profits
  • Memoranda
  • $-10,025Noncurrent loans and leases
  • $2,731Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $7,909Earning assets
  • $0Long-term assets (5+ years)
  • $423Average Assets, year-to-date
  • $95,900Average Assets, quarterly
  • $10,140Volatile liabilities
  • $120,527Insider loans
  • $114,876FHLB advances
  • $27,935Loans and leases held for sale
  • $413Unused loan commitments
  • $4,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $2,731Total unused commitments
  • $7,335Restructured Loans and leases
  • $309Derivatives

Income and Expense (December 31, 2010)

  • Dollar figures in thousands
  • $5,205Total interest income
  • $2,200Total interest expense
  • $3,005Net interest income
  • $5,717Provision for loan and lease losses
  • -$451Total noninterest income
  • $0Fiduciary activities
  • $100Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$551Additional noninterest income
  • $3,797Total noninterest expense
  • $1,505Salaries and employee benefits
  • $369Premises and equipment expense
  • $1,923Additional noninterest expense
  • -$6,960Pre-tax net operating income
  • $34Securities gains (losses)
  • $0Applicable income taxes
  • -$6,926Income before extraordinary items
  • $0Extraordinary gains - net
  • -$6,926Net income attributable to bank
  • $0Net charge-offs
  • -$6,926Cash dividends
  • $4,842Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2010)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.81%Yield on earning assets
  • 2.03%Cost of funding earning assets
  • 2.78%Net interest margin
  • -0.42%Noninterest income to earning assets
  • 3.51%Noninterest expense to earning assets
  • -5.77%Net operating income to assets
  • -5.75%Return on assets (ROA)
  • -5.75%Pretax return on assets
  • -139.34%Return on equity (ROE)
  • -139.34%Retained earnings to average equity (YTD only)
  • 5.37%Net charge-offs to loans
  • 118.07%Credit loss provision to net charge-offs
  • -0.26%Efficiency ratio
  • 148,669Assets per employee
  • 5.03%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 5.01%Loss allowance to noncurrent loans
  • 49.41%Noncurrent assets plus other real estate owned to assets
  • 15.78%Noncurrent loans to loans
  • 10.13%Net loans and leases to deposits
  • 69.88%Net loans and leases to core deposits
  • 93.65%Equity capital to assets
  • 0.44%Core capital (leverage) ratio
  • 0.26%Tier 1 risk-based capital ratio
  • 0.37%Total risk-based capital ratio
  • Memoranda
  • $1Average assets
  • $120,527Average earning assets
  • $4,970Average equity
  • $108,128Average loans

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