Oconee Federal Savings and Loan Association in Seneca, South Carolina (SC)



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Oconee Federal Savings and Loan Association
GeneralFDIC Certificate #: 30111
Status: Active
Federal Reserve ID: 853671
Date Established: January 01, 1924
WWW: http://www.oconeefederal.com
Trust Powers Granted: No
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Offices: 4 (Domestic: 4, Interstate: No)
OTS Docket #: 4769
FDIC's unique #: 42945
Numeric code: 38
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: No
Subchapter S Corporations: No
Asset Concentration Hierarchy: Mortgage Lending Specialization
Date of Deposit Insurance: September 26, 1940
Last Structure Change Effective Date: July 21, 2011
Last Structure Change Process Date: July 21, 2011
Last Data Update: July 21, 2011
Data Source Date: April 05, 2012
LocationAddress: 115 East North 2nd Street, Seneca, SC 29678
County: Oconee
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Columbia Sc
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Southeast
Combined Statistical Area (CSA): Greenville-Spartanburg-Anderson, SC (#273)
Core Based Statistical Area (CBSA): Seneca, SC (#42860)
CBSA Micro Statistical Area: Yes
History of ChangesChange in Primary Regulatory Agency
Financial SummaryTotal assets: $375.7 mil
Equity capital: $72.9 mil
Deposits held in domestic offices: $299.2 mil
Return on assets (ROA): 0.71% ($2.7 mil)
Quarterly return on assets: 1.00% ($3.8 mil)
Return on Equity (ROE): 3.83% ($2.8 mil)
Quarterly return on equity: 5.16% ($3.8 mil)
Net income: $2.7 mil
Quarterly Net income: $0.9 mil
Pretax return on assets: 1.13% ($4,246.0 mil)
Quarterly Pretax return on assets: 1.59% ($5,974.4 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)44
Total assets$375,748
Cash and due from depository institutions$59,056
Interest-bearing balances$55,464
Securities$51,098
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$257,616
Loan loss allowance $706
Trading account assets$0
Bank premises and fixed assets$3,243
Other real estate owned$1,339
Goodwill and other intangibles$0
All other assets$3,396
Life insurance assets$375,748
Total liabilities and capital$302,833
Total liabilities$299,220
Total deposits$290,247
Interest-bearing deposits$299,220
Deposits held in domestic offices$99
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$2,420
Other borrowed funds $0
Subordinated debt $1,193
All other liabilities $72,915
Total equity capital$72,915
Total bank equity capital$72,915
Perpetual preferred stock$0
Common stock$1
Surplus$11,142
Undivided profits $61,772
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $1,363
Earning assets $0
Long-term assets (5+ years) $1,150
Average Assets, year-to-date $364,178
Average Assets, quarterly $0
Volatile liabilities $374,681
Insider loans $375,431
FHLB advances $189,732
Loans and leases held for sale $375,441
Unused loan commitments $1,146
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $72,724
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $8,611
Derivatives$821
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $15,340
Total interest expense $4,105
Net interest income $11,235
Provision for loan and lease losses $281
Total noninterest income -$75
Fiduciary activities $0
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income -$75
Total noninterest expense $6,700
Salaries and employee benefits $2,781
Premises and equipment expense $1,046
Additional noninterest expense $2,873
Pre-tax net operating income $4,179
Securities gains (losses) $60
Applicable income taxes $1,584
Income before extraordinary items $2,655
Extraordinary gains - net $0
Net income attributable to bank $2,655
Net charge-offs $0
Cash dividends $2,655
Sale, conversion, retirement of capital stock, net $269
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 assets4.23%
Cost of funding earning assets 1.13%
Net interest margin 3.10%
Noninterest income to earning assets -0.02%
Noninterest expense to earning assets 1.85%
Net operating income to assets 0.70%
Return on assets (ROA) 0.71%
Pretax return on assets 1.13%
Return on equity (ROE) 3.83%
Retained earnings to average equity (YTD only) 3.83%
Net charge-offs to loans 0.10%
Credit loss provision to net charge-offs 104.46%
Efficiency ratio16.58%
Assets per employee$60,036
Cash dividends to net income (YTD only)8.54%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 0.27%
Noncurrent assets plus other real estate owned to assets 51.80%
Noncurrent loans to loans 0.72%
Net loans and leases to deposits0.53%
Net loans and leases to core deposits 86.10%
Equity capital to assets 88.42%
Core capital (leverage) ratio 19.41%
Tier 1 risk-based capital ratio 19.37%
Total risk-based capital ratio 38.33%
Memoranda
Average assets$39
Average earning assets$374,681
Average equity $69,314
Average loans $362,945
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4 South Carolina Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
042945Oconee Federal Savings And Loan Asso115 East North 2nd Street, Seneca, SC 29678January 01, 1924Full Service Brick and Mortar
1278676Broad Street Branch204 W North Broad St, Walhalla, SC 29691January 01, 1924Full Service Brick and Mortar
2278677111 West Windsor Street Branch111 West Windsor Street, Westminster, SC 29693January 01, 1924Full Service Brick and Mortar
100278678813-123 By-Pass Branch813-123 By-Pass, Seneca, SC 29678June 30, 1986Full Service Brick and Mortar
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