Piedmont Federal Savings Bank in Winston Salem, North Carolina (NC)



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Piedmont Federal Savings Bank
GeneralFDIC Certificate #: 27619
Status: Active
Federal Reserve ID: 864471
Date Established: January 01, 1903
WWW: http://www.piedmontfederal.com
Trust Powers Granted: No
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Offices: 10 (Domestic: 10, Interstate: No)
OTS Docket #: 7
FDIC's unique #: 40453
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: June 08, 1935
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: 16 W 3rd St, Winston Salem, NC 27101
County: Forsyth
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Charlotte
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Greensboro--Winston-Salem--High Point, NC (#3120)
Combined Statistical Area (CSA): Greensboro-Winston-Salem-High Point, NC (#268)
Core Based Statistical Area (CBSA): Winston-Salem, NC (#49180)
CBSA Metro Statistical Area: Winston-Salem, NC (#49180)
History of ChangesChange in Primary Regulatory Agency
Financial SummaryTotal assets: $936.9 mil
Equity capital: $210.6 mil
Deposits held in domestic offices: $719.9 mil
Return on assets (ROA): 0.42% ($3.9 mil)
Quarterly return on assets: 0.42% ($3.9 mil)
Return on Equity (ROE): 1.87% ($3.9 mil)
Quarterly return on equity: 1.85% ($3.9 mil)
Net income: $3.9 mil
Quarterly Net income: $1.0 mil
Pretax return on assets: 0.69% ($6,464.7 mil)
Quarterly Pretax return on assets: 0.65% ($6,090.0 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)117
Total assets$936,919
Cash and due from depository institutions$134,301
Interest-bearing balances$131,750
Securities$244,566
Federal funds sold & reverse repurchase agreements$10,447
Net loans & leases$524,863
Loan loss allowance $879
Trading account assets$0
Bank premises and fixed assets$15,184
Other real estate owned$126
Goodwill and other intangibles$352
All other assets$7,080
Life insurance assets$936,919
Total liabilities and capital$726,289
Total liabilities$719,925
Total deposits$714,807
Interest-bearing deposits$719,925
Deposits held in domestic offices$97
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$371
Other borrowed funds $0
Subordinated debt $5,993
All other liabilities $210,630
Total equity capital$210,630
Total bank equity capital$210,630
Perpetual preferred stock$0
Common stock$0
Surplus$0
Undivided profits $210,630
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 $2,109
Earning assets $0
Long-term assets (5+ years) $2,223
Average Assets, year-to-date $911,626
Average Assets, quarterly $0
Volatile liabilities $929,489
Insider loans $936,849
FHLB advances $337,767
Loans and leases held for sale $935,923
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $209,898
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $23,849
Derivatives$584
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $34,414
Total interest expense $11,819
Net interest income $22,595
Provision for loan and lease losses $523
Total noninterest income $359
Fiduciary activities $0
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $359
Total noninterest expense $16,035
Salaries and employee benefits $9,947
Premises and equipment expense $2,261
Additional noninterest expense $3,827
Pre-tax net operating income $6,396
Securities gains (losses) $0
Applicable income taxes $2,504
Income before extraordinary items $3,892
Extraordinary gains - net $0
Net income attributable to bank $3,892
Net charge-offs $0
Cash dividends $3,892
Sale, conversion, retirement of capital stock, net $415
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 assets3.80%
Cost of funding earning assets 1.30%
Net interest margin 2.49%
Noninterest income to earning assets 0.04%
Noninterest expense to earning assets 1.77%
Net operating income to assets 0.42%
Return on assets (ROA) 0.42%
Pretax return on assets 0.69%
Return on equity (ROE) 1.87%
Retained earnings to average equity (YTD only) 1.87%
Net charge-offs to loans 0.08%
Credit loss provision to net charge-offs 126.02%
Efficiency ratio16.67%
Assets per employee$68,868
Cash dividends to net income (YTD only)8.01%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 0.17%
Noncurrent assets plus other real estate owned to assets 41.68%
Noncurrent loans to loans 0.24%
Net loans and leases to deposits0.40%
Net loans and leases to core deposits 72.91%
Equity capital to assets 78.46%
Core capital (leverage) ratio 22.48%
Tier 1 risk-based capital ratio 22.43%
Total risk-based capital ratio 62.14%
Memoranda
Average assets$62
Average earning assets$929,489
Average equity $208,654
Average loans $906,286
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10 North Carolina Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
040453Piedmont Federal Savings Bank16 W 3rd St, Winston Salem, NC 27101January 01, 1903Full Service Brick and Mortar
1262382Kernersville Branch505 Pineview Drive, Kernersville, NC 27284January 01, 1903Full Service Brick and Mortar
2262383Hanes Mill Branch5189 Northern Quarters Drive, Winston Salem, NC 27105January 01, 1903Full Service Brick and Mortar
3262384Southpark Branch1040 Southpark Boulevard, Winston Salem, NC 27127January 01, 1903Full Service Brick and Mortar
4262385Stratford Road Branch275 South Stratford Road, Winston Salem, NC 27103January 01, 1903Full Service Brick and Mortar
5262386Peace Haven Branch2095 Peace Haven Road, Winston Salem, NC 27106January 01, 1903Full Service Brick and Mortar
6262387Boone Branch1399 Blowing Rock Road, Boone, NC 28607January 01, 1903Full Service Brick and Mortar
100262389North Wilkesboro Avenue Branch200 Wilkesboro Avenue, North Wilkesboro, NC 28659January 01, 1903Full Service Brick and Mortar
101262390Clemmons Branch3701 Clemmons Rd., Clemmons, NC 27012January 01, 1903Full Service Brick and Mortar
102262391Reynolda Road Branch2915 Reynolda Road, Winston Salem, NC 27106June 30, 1988Full Service Brick and Mortar
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