Pinnacle Bank of South Carolina in Greenville, South Carolina (SC)

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Pinnacle Bank of South Carolina
GeneralFDIC Certificate #: 58179
Status: Active
Federal Reserve ID: 3384868
Bank Holding Company (Regulatory Top Holder): Pbsc Financial Corporation (RSSDID: 3384859, Location: Greenville, SC)
Date Established: January 09, 2006
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Domestic: 2, Interstate: No)
FDIC's unique #: 441377
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: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: January 09, 2006
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
LocationAddress: 937 North Pleasantburg Drive, Greenville, SC 29607
County: Greenville
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
Metropolitan Statistical Area (MSA): Greenville-Spartanburg-Anderson, SC (#3160)
Combined Statistical Area (CSA): Greenville-Spartanburg-Anderson, SC (#273)
Core Based Statistical Area (CBSA): Greenville-Mauldin-Easley, SC (#24860)
CBSA Metro Statistical Area: Greenville-Mauldin-Easley, SC (#24860)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $135.7 mil
Equity capital: $17.1 mil
Deposits held in domestic offices: $105.6 mil
Return on assets (ROA): 0.40% ($0.5 mil)
Quarterly return on assets: 0.84% ($1.1 mil)
Return on Equity (ROE): 3.07% ($0.5 mil)
Quarterly return on equity: 6.70% ($1.1 mil)
Net income: $0.5 mil
Quarterly Net income: $0.3 mil
Pretax return on assets: 0.40% ($542.6 mil)
Quarterly Pretax return on assets: 0.83% ($1,125.9 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)29
Total assets$135,651
Cash and due from depository institutions$4,882
Interest-bearing balances$2,554
Federal funds sold & reverse repurchase agreements$4,405
Net loans & leases$99,148
Loan loss allowance $1,814
Trading account assets$0
Bank premises and fixed assets$1,421
Other real estate owned$1,507
Goodwill and other intangibles$0
All other assets$4,653
Life insurance assets$135,651
Total liabilities and capital$118,556
Total liabilities$105,599
Total deposits$93,757
Interest-bearing deposits$105,599
Deposits held in domestic offices$87
% insured (estimated)5646.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$6,500
Other borrowed funds $0
Subordinated debt $811
All other liabilities $17,095
Total equity capital$17,095
Total bank equity capital$17,095
Perpetual preferred stock$0
Common stock$8,250
Undivided profits $45
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $1,112
Income earned, not collected on loans $1,774
Earning assets $0
Long-term assets (5+ years) $415
Average Assets, year-to-date $125,742
Average Assets, quarterly $16,670
Volatile liabilities $129,887
Insider loans $135,842
FHLB advances $106,406
Loans and leases held for sale $136,643
Unused loan commitments $3,237
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $17,073
Total risk weighted assets $0
Total unused commitments $3,237
Restructured Loans and leases $12,040
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $6,058
Total interest expense $940
Net interest income $5,118
Provision for loan and lease losses $910
Total noninterest income $635
Fiduciary activities $0
Service charges on deposit accounts $179
Trading account gains & fees $0
Additional noninterest income $456
Total noninterest expense $4,308
Salaries and employee benefits $2,467
Premises and equipment expense $454
Additional noninterest expense $1,387
Pre-tax net operating income $535
Securities gains (losses) -$17
Applicable income taxes $4
Income before extraordinary items $514
Extraordinary gains - net $0
Net income attributable to bank $514
Net charge-offs $0
Cash dividends $514
Sale, conversion, retirement of capital stock, net $848
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 assets5.09%
Cost of funding earning assets 0.79%
Net interest margin 4.30%
Noninterest income to earning assets 0.53%
Noninterest expense to earning assets 3.62%
Net operating income to assets 0.41%
Return on assets (ROA) 0.40%
Pretax return on assets 0.40%
Return on equity (ROE) 3.07%
Retained earnings to average equity (YTD only) 3.07%
Net charge-offs to loans 0.88%
Credit loss provision to net charge-offs 107.31%
Efficiency ratio1.70%
Assets per employee$74,883
Cash dividends to net income (YTD only)4.68%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.80%
Noncurrent assets plus other real estate owned to assets 102.25%
Noncurrent loans to loans 2.42%
Net loans and leases to deposits1.76%
Net loans and leases to core deposits 93.89%
Equity capital to assets 133.25%
Core capital (leverage) ratio 12.60%
Tier 1 risk-based capital ratio 12.49%
Total risk-based capital ratio 16.05%
Average assets$17
Average earning assets$129,887
Average equity $16,755
Average loans $118,940
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2 South Carolina Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0441377Pinnacle Bank Of South Carolina937 North Pleasantburg Drive, Greenville, SC 29607January 09, 2006Full Service Brick and Mortar
1466489Pinnacle Bank Of South Carolina Bran10515 Anderson Road, Easley, SC 29642Febuary 15, 2007Full Service Brick and Mortar
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