Palmetto Heritage Bank & Trust in Pawleys Island, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Palmetto Heritage Bank & Trust in Pawleys Island, South Carolina (SC)
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Palmetto Heritage Bank & Trust - Overview

  • General
  • FDIC Certificate #: 57880
    Status: Active
    Federal Reserve ID: 3299168
    Bank Holding Company (Regulatory Top Holder): Palmetto Heritage Bancshares, Inc. (RSSDID: 3299140, Location: Pawleys Island, SC)
    Date Established: January 03, 2005
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    FDIC's unique #: 428856
    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: January 03, 2005
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 10919 Ocean Boulevard, Pawleys Island, SC 29585
    County: Georgetown
    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): Myrtle Beach-Conway-Georgetown, SC (#396)
    Core Based Statistical Area (CBSA): Georgetown, SC (#23860)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $143.9 mil
    Equity capital: $12.2 mil
    Deposits held in domestic offices: $117.2 mil
    Return on assets (ROA): -0.08% (-$0.1 mil)
    Quarterly return on assets: -0.05% (-$0.1 mil)
    Return on Equity (ROE): -0.93% (-$0.1 mil)
    Quarterly return on equity: -0.56% (-$0.1 mil)
    Net income: -$0.1 mil
    Quarterly Net income: -$0.0 mil
    Pretax return on assets: -0.12% (-$172.7 mil)
    Quarterly Pretax return on assets: -0.07% (-$100.7 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
  • 22Total employees (full-time equivalent)
  • $143,920Total assets
  • $19,720Cash and due from depository institutions
  • $19,400Interest-bearing balances
  • $7,111Securities
  • $950Federal funds sold & reverse repurchase agreements
  • $99,153Net loans & leases
  • $901Loan loss allowance
  • $0Trading account assets
  • $10,784Bank premises and fixed assets
  • $2,946Other real estate owned
  • $0Goodwill and other intangibles
  • $143,920Life insurance assets
  • $3,256All other assets
  • $131,753Total liabilities and capital
  • $117,215Total liabilities
  • $113,794Total deposits
  • $117,215Interest-bearing deposits
  • $89Deposits held in domestic offices
  • 265.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $14,000Trading liabilities
  • $0Other borrowed funds
  • $273Subordinated debt
  • $12,167All other liabilities
  • $12,167Total equity capital
  • $12,167Total bank equity capital
  • $0Perpetual preferred stock
  • $440Common stock
  • $12,982Surplus
  • $-1,255Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,578Income earned, not collected on loans
  • $0Earning assets
  • $557Long-term assets (5+ years)
  • $126,614Average Assets, year-to-date
  • $1,245Average Assets, quarterly
  • $140,311Volatile liabilities
  • $143,036Insider loans
  • $107,156FHLB advances
  • $143,672Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $12,151Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $6,093Restructured Loans and leases
  • $8,194Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,763Total interest income
  • $1,946Total interest expense
  • $3,817Net interest income
  • $815Provision for loan and lease losses
  • $408Total noninterest income
  • $280Fiduciary activities
  • $44Service charges on deposit accounts
  • $0Trading account gains & fees
  • $84Additional noninterest income
  • $3,582Total noninterest expense
  • $1,487Salaries and employee benefits
  • $821Premises and equipment expense
  • $1,274Additional noninterest expense
  • -$172Pre-tax net operating income
  • $0Securities gains (losses)
  • -$58Applicable income taxes
  • -$114Income before extraordinary items
  • $0Extraordinary gains - net
  • -$114Net income attributable to bank
  • $0Net charge-offs
  • -$114Cash dividends
  • $925Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.71%Yield on earning assets
  • 1.59%Cost of funding earning assets
  • 3.12%Net interest margin
  • 0.33%Noninterest income to earning assets
  • 2.93%Noninterest expense to earning assets
  • -0.08%Net operating income to assets
  • -0.08%Return on assets (ROA)
  • -0.12%Pretax return on assets
  • -0.93%Return on equity (ROE)
  • -0.93%Retained earnings to average equity (YTD only)
  • 0.93%Net charge-offs to loans
  • 88.11%Credit loss provision to net charge-offs
  • 0.70%Efficiency ratio
  • 84,781Assets per employee
  • 6.54%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.90%Loss allowance to noncurrent loans
  • 34.95%Noncurrent assets plus other real estate owned to assets
  • 3.84%Noncurrent loans to loans
  • 2.58%Net loans and leases to deposits
  • 84.59%Net loans and leases to core deposits
  • 101.11%Equity capital to assets
  • 8.45%Core capital (leverage) ratio
  • 8.46%Tier 1 risk-based capital ratio
  • 11.34%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $140,311Average earning assets
  • $12,212Average equity
  • $122,436Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $26,834Managed Assets
  • 1Number of Accounts
  • $26,382Personal trust and agency accounts
  • $7,383Employee benefit-defined contribution accounts
  • $4,266Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $10,229Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $4,504Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 81Number of Accounts
  • $0Personal trust and agency accounts
  • $10,229Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $452Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $452Fiduciary accounts held in foreign offices

List of branches

  • 3 South Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0428856Palmetto Heritage Bank & Trust10919 Ocean Boulevard, Pawleys Island, SC 29585January 03, 2005Full Service Brick and Mortar
    1478319Mount Pleasant Branch3102 Highway 17 North, Mount Pleasant, SC 29464June 16, 2008Full Service Brick and Mortar
    2506050Murrells Inlet Branch4375 Highway 17 Bypass, Murrells Inlet, SC 29576March 15, 2010Full Service Brick and Mortar

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