Palmetto State Bank in Hampton, South Carolina (SC)



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Palmetto State Bank routing number info

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Palmetto State Bank
GeneralFDIC 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
LocationAddress: 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 ChangesParticipated in Absorption/Consolidation/Merger
Financial SummaryTotal 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)
Total employees (full-time equivalent)90
Total assets$426,729
Cash and due from depository institutions$13,719
Interest-bearing balances$224
Securities$210,380
Federal funds sold & reverse repurchase agreements$5,219
Net loans & leases$178,142
Loan loss allowance $3,492
Trading account assets$0
Bank premises and fixed assets$2,132
Other real estate owned$5,464
Goodwill and other intangibles$0
All other assets$11,673
Life insurance assets$426,729
Total liabilities and capital$367,408
Total liabilities$341,303
Total deposits$326,000
Interest-bearing deposits$341,303
Deposits held in domestic offices$79
% insured (estimated)9706.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$15,000
Other borrowed funds $0
Subordinated debt $1,399
All other liabilities $59,321
Total equity capital$59,321
Total bank equity capital$59,321
Perpetual preferred stock$0
Common stock$600
Surplus$14,300
Undivided profits $44,421
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $676
Income earned, not collected on loans $2,703
Earning assets $0
Long-term assets (5+ years) $2,994
Average Assets, year-to-date $393,965
Average Assets, quarterly $215,860
Volatile liabilities $468,610
Insider loans $447,520
FHLB advances $256,870
Loans and leases held for sale $471,686
Unused loan commitments $5,803
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $58,514
Total risk weighted assets $5,803
Total unused commitments $0
Restructured Loans and leases $19,031
Derivatives$479
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $19,385
Total interest expense $2,747
Net interest income $16,638
Provision for loan and lease losses $4,920
Total noninterest income $2,770
Fiduciary activities $0
Service charges on deposit accounts $1,435
Trading account gains & fees $0
Additional noninterest income $1,335
Total noninterest expense $9,656
Salaries and employee benefits $5,563
Premises and equipment expense $1,405
Additional noninterest expense $2,688
Pre-tax net operating income $4,832
Securities gains (losses) $0
Applicable income taxes $1,185
Income before extraordinary items $3,647
Extraordinary gains - net $0
Net income attributable to bank $3,647
Net charge-offs $0
Cash dividends $3,647
Sale, conversion, retirement of capital stock, net $4,872
Net operating income $2,200
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.40%
Cost of funding earning assets 0.62%
Net interest margin 3.78%
Noninterest income to earning assets 0.63%
Noninterest expense to earning assets 2.19%
Net operating income to assets 0.78%
Return on assets (ROA) 0.78%
Pretax return on assets 1.03%
Return on equity (ROE) 6.33%
Retained earnings to average equity (YTD only) 2.51%
Net charge-offs to loans 2.54%
Credit loss provision to net charge-offs 100.99%
Efficiency ratio2.00%
Assets per employee$48,207
Cash dividends to net income (YTD only)4.74%
Condition Ratios (%)
Loss allowance to loans 60.32%
Loss allowance to noncurrent loans 1.92%
Noncurrent assets plus other real estate owned to assets 129.19%
Noncurrent loans to loans 1.91%
Net loans and leases to deposits1.49%
Net loans and leases to core deposits 52.19%
Equity capital to assets 61.57%
Core capital (leverage) ratio 13.90%
Tier 1 risk-based capital ratio 12.41%
Total risk-based capital ratio 22.78%
Memoranda
Average assets$24
Average earning assets$468,610
Average equity $57,572
Average loans $440,144
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$16,586
Number of Accounts1
Personal trust and agency accounts$12,606
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$12,606
Corporate trust and agency accounts$0
Investment management agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts2
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$274
Other retirement accounts$3,980
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
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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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