Pinnacle State Bank in Woodruff, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 16, 2003

  • Pinnacle State Bank in Woodruff, South Carolina (SC)
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Pinnacle State Bank - Overview

  • General
  • FDIC Certificate #: 14067
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Arthur State Bank (#15085)
    Federal Reserve ID: 596026
    Date Established: March 01, 1934
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Interstate: No)
    OTS Docket #: 11667
    FDIC's unique #: 8792
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: Yes
    Date of Deposit Insurance: March 16, 1934
    Last Structure Change Effective Date: October 16, 2003
    Last Structure Change Process Date: October 30, 2003
    Last Data Update: October 30, 2003
    Data Source Date: April 05, 2012
  • Location
  • Address: Main Street, Woodruff, SC 29388
    County: Spartanburg
    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): Spartanburg, SC (#43900)
    CBSA Metro Statistical Area: Spartanburg, SC (#43900)
  • Financial Summary
  • Total assets: $64.7 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, 2002)

  • Dollar figures in thousands
  • 31Total employees (full-time equivalent)
  • $59,714Total assets
  • $4,035Cash and due from depository institutions
  • $20Interest-bearing balances
  • $7,237Securities
  • $300Federal funds sold & reverse repurchase agreements
  • $46,024Net loans & leases
  • $715Loan loss allowance
  • $0Trading account assets
  • $1,265Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $853All other assets
  • $59,714Total liabilities and capital
  • $51,559Total liabilities
  • $48,059Total deposits
  • $33,940Interest-bearing deposits
  • $48,059Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $3,391Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $109All other liabilities
  • $8,155Total equity capital
  • $8,155Total bank equity capital
  • $8,155Perpetual preferred stock
  • $0Common stock
  • $1,200Surplus
  • $3,900Undivided profits
  • Memoranda
  • $3,055Noncurrent loans and leases
  • $9,913Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $0Earning assets
  • $0Long-term assets (5+ years)
  • $321Average Assets, year-to-date
  • $53,581Average Assets, quarterly
  • $8,577Volatile liabilities
  • $60,382Insider loans
  • $60,695FHLB advances
  • $8,581Loans and leases held for sale
  • $229Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $9,913Total unused commitments
  • $0Restructured Loans and leases
  • $630Derivatives

Income and Expense (December 31, 2002)

  • Dollar figures in thousands
  • $3,679Total interest income
  • $608Total interest expense
  • $3,071Net interest income
  • $100Provision for loan and lease losses
  • $1,154Total noninterest income
  • $0Fiduciary activities
  • $1,049Service charges on deposit accounts
  • $0Trading account gains & fees
  • $105Additional noninterest income
  • $2,455Total noninterest expense
  • $1,148Salaries and employee benefits
  • $351Premises and equipment expense
  • $956Additional noninterest expense
  • $1,670Pre-tax net operating income
  • $0Securities gains (losses)
  • $546Applicable income taxes
  • $1,124Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,124Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $20Sale, conversion, retirement of capital stock, net
  • $948Net operating income

Performance and Condition Ratios (December 31, 2002)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.76%Yield on earning assets
  • 1.12%Cost of funding earning assets
  • 5.64%Net interest margin
  • 2.12%Noninterest income to earning assets
  • 4.51%Noninterest expense to earning assets
  • 1.86%Net operating income to assets
  • 1.86%Return on assets (ROA)
  • 2.77%Pretax return on assets
  • 13.72%Return on equity (ROE)
  • 2.15%Retained earnings to average equity (YTD only)
  • 0.05%Net charge-offs to loans
  • 500.00%Credit loss provision to net charge-offs
  • 88.50%Efficiency ratio
  • 58,107Assets per employee
  • 1.93%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 84.34%Loss allowance to loans
  • 1.53%Loss allowance to noncurrent loans
  • 0.00%Noncurrent assets plus other real estate owned to assets
  • 0.00%Noncurrent loans to loans
  • 0.00%Net loans and leases to deposits
  • 95.77%Net loans and leases to core deposits
  • 107.36%Equity capital to assets
  • 13.66%Core capital (leverage) ratio
  • 13.28%Tier 1 risk-based capital ratio
  • 15.99%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $60,382Average earning assets
  • $8,193Average equity
  • $54,460Average loans

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