Palmetto State Bank in Hampton, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches


Palmetto State Bank - Overview

  • General
  • FDIC Certificate #: 17563
    Status: Active
    Federal Reserve ID: 277820
    Bank Holding Company (Regulatory Top Holder): Palmetto State Bankshares, Inc. (RSSDID: 1076329, Location: Hampton, SC)
    Date Established: January 01, 1907
    WWW: http://www.palmettostatebank.com
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 9 (Domestic: 9, Interstate: No)
    OTS Docket #: 12235
    FDIC's unique #: 11537
    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: All Other Specialization < 1 Billion
    Date of Deposit Insurance: December 28, 1955
    Last Structure Change Effective Date: Febuary 17, 2007
    Last Structure Change Process Date: March 07, 2007
    Last Data Update: March 07, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 601 First Street, West, Hampton, SC 29924
    County: Hampton
    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
  • History of Changes
  • Participated in Absorption/Consolidation/Merger
  • Financial Summary
  • Total assets: $426.7 mil
    Equity capital: $59.3 mil
    Deposits held in domestic offices: $341.3 mil
    Return on assets (ROA): 0.78% ($3.3 mil)
    Quarterly return on assets: 0.23% ($1.0 mil)
    Return on Equity (ROE): 6.33% ($3.7 mil)
    Quarterly return on equity: 1.75% ($1.0 mil)
    Net income: $3.6 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 1.03% ($4,395.3 mil)
    Quarterly Pretax return on assets: -0.08% (-$341.4 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
  • 90Total employees (full-time equivalent)
  • $426,729Total assets
  • $13,719Cash and due from depository institutions
  • $224Interest-bearing balances
  • $210,380Securities
  • $5,219Federal funds sold & reverse repurchase agreements
  • $178,142Net loans & leases
  • $3,492Loan loss allowance
  • $0Trading account assets
  • $2,132Bank premises and fixed assets
  • $5,464Other real estate owned
  • $0Goodwill and other intangibles
  • $426,729Life insurance assets
  • $11,673All other assets
  • $367,408Total liabilities and capital
  • $341,303Total liabilities
  • $326,000Total deposits
  • $341,303Interest-bearing deposits
  • $79Deposits held in domestic offices
  • 9706.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $15,000Trading liabilities
  • $0Other borrowed funds
  • $1,399Subordinated debt
  • $59,321All other liabilities
  • $59,321Total equity capital
  • $59,321Total bank equity capital
  • $0Perpetual preferred stock
  • $600Common stock
  • $14,300Surplus
  • $44,421Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $676Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,703Income earned, not collected on loans
  • $0Earning assets
  • $2,994Long-term assets (5+ years)
  • $393,965Average Assets, year-to-date
  • $215,860Average Assets, quarterly
  • $468,610Volatile liabilities
  • $447,520Insider loans
  • $256,870FHLB advances
  • $471,686Loans and leases held for sale
  • $5,803Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $58,514Tier 2 risk-based capital
  • $5,803Total risk weighted assets
  • $0Total unused commitments
  • $19,031Restructured Loans and leases
  • $479Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $19,385Total interest income
  • $2,747Total interest expense
  • $16,638Net interest income
  • $4,920Provision for loan and lease losses
  • $2,770Total noninterest income
  • $0Fiduciary activities
  • $1,435Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,335Additional noninterest income
  • $9,656Total noninterest expense
  • $5,563Salaries and employee benefits
  • $1,405Premises and equipment expense
  • $2,688Additional noninterest expense
  • $4,832Pre-tax net operating income
  • $0Securities gains (losses)
  • $1,185Applicable income taxes
  • $3,647Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,647Net income attributable to bank
  • $0Net charge-offs
  • $3,647Cash dividends
  • $4,872Sale, conversion, retirement of capital stock, net
  • $2,200Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.40%Yield on earning assets
  • 0.62%Cost of funding earning assets
  • 3.78%Net interest margin
  • 0.63%Noninterest income to earning assets
  • 2.19%Noninterest expense to earning assets
  • 0.78%Net operating income to assets
  • 0.78%Return on assets (ROA)
  • 1.03%Pretax return on assets
  • 6.33%Return on equity (ROE)
  • 2.51%Retained earnings to average equity (YTD only)
  • 2.54%Net charge-offs to loans
  • 100.99%Credit loss provision to net charge-offs
  • 2.00%Efficiency ratio
  • 48,207Assets per employee
  • 4.74%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 60.32%Loss allowance to loans
  • 1.92%Loss allowance to noncurrent loans
  • 129.19%Noncurrent assets plus other real estate owned to assets
  • 1.91%Noncurrent loans to loans
  • 1.49%Net loans and leases to deposits
  • 52.19%Net loans and leases to core deposits
  • 61.57%Equity capital to assets
  • 13.90%Core capital (leverage) ratio
  • 12.41%Tier 1 risk-based capital ratio
  • 22.78%Total risk-based capital ratio
  • Memoranda
  • $24Average assets
  • $468,610Average earning assets
  • $57,572Average equity
  • $440,144Average 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
  • $16,586Managed Assets
  • 1Number of Accounts
  • $12,606Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $12,606Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 2Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $274Employee benefit-defined benefit accounts
  • $3,980Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 9 South Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    011537Palmetto State Bank601 First Street, West, Hampton, SC 29924January 01, 1907Full Service Brick and Mortar
    1242221West End BranchU.S. Highway 278 & S.C. Highway 363, Hampton, SC 29924March 01, 1973Limited Service Facility
    2242222Bluffton BranchHighway 46 And S.C. Road S-7-586, Bluffton, SC 29910November 27, 1981Full Service Brick and Mortar
    4221587Burton BranchU.S. Highway 21 And West Avenue, Burton, SC 29902April 20, 1977Full Service Brick and Mortar
    6242224Lady's Island Branch145 Lady's Island Drive, Lady's Island, SC 29902March 10, 1999Full Service Brick and Mortar
    89211Estill Branch106 East 3rd Street, Estill, SC 29918January 01, 1934Full Service Brick and Mortar
    99407Allendale BranchMain Street, Allendale, SC 29810January 26, 1935Full Service Brick and Mortar
    10232746Drive-In BranchBay Street, Allendale, SC 29810December 10, 1975Limited Service Facility
    11232747Fairfax BranchSeventh Street And Charleston Avenue, Fairfax, SC 29827November 16, 1981Full Service Brick and Mortar

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