Providence Bank in Rocky Mount, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

Providence Bank - Overview

  • General
  • FDIC Certificate #: 58239
    Status: Active
    Federal Reserve ID: 3404506
    Date Established: March 14, 2006
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    FDIC's unique #: 444132
    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: Commercial Lending Specialization
    Date of Deposit Insurance: March 14, 2006
    Last Structure Change Effective Date: October 28, 2008
    Last Structure Change Process Date: July 27, 2009
    Last Data Update: July 27, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 450 N Winstead Ave, Rocky Mount, NC 27804
    County: Nash
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Raleigh
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Rocky Mount, NC (#6895)
    Core Based Statistical Area (CBSA): Rocky Mount, NC (#40580)
    CBSA Metro Statistical Area: Rocky Mount, NC (#40580)
  • History of Changes
  • Change in Location
  • Financial Summary
  • Total assets: $209.6 mil
    Equity capital: $19.7 mil
    Deposits held in domestic offices: $181.0 mil
    Return on assets (ROA): 0.73% ($1.5 mil)
    Quarterly return on assets: 0.86% ($1.8 mil)
    Return on Equity (ROE): 7.08% ($1.4 mil)
    Quarterly return on equity: 8.93% ($1.8 mil)
    Net income: $1.3 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 1.18% ($2,473.7 mil)
    Quarterly Pretax return on assets: 1.37% ($2,872.0 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
  • 25Total employees (full-time equivalent)
  • $209,637Total assets
  • $52,453Cash and due from depository institutions
  • $48,266Interest-bearing balances
  • $2,000Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $147,100Net loans & leases
  • $2,429Loan loss allowance
  • $158Trading account assets
  • $344Bank premises and fixed assets
  • $861Other real estate owned
  • $0Goodwill and other intangibles
  • $209,637Life insurance assets
  • $6,721All other assets
  • $189,907Total liabilities and capital
  • $181,032Total liabilities
  • $173,790Total deposits
  • $181,032Interest-bearing deposits
  • $68Deposits held in domestic offices
  • 483.00%% insured (estimated)
  • $158Federal funds purchased & repurchase agreements
  • $8,000Trading liabilities
  • $0Other borrowed funds
  • $234Subordinated debt
  • $19,730All other liabilities
  • $19,730Total equity capital
  • $19,730Total bank equity capital
  • $4,250Perpetual preferred stock
  • $6,300Common stock
  • $8,239Surplus
  • $941Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $4,319Income earned, not collected on loans
  • $0Earning assets
  • $600Long-term assets (5+ years)
  • $197,524Average Assets, year-to-date
  • $29,677Average Assets, quarterly
  • $184,189Volatile liabilities
  • $202,417Insider loans
  • $135,372FHLB advances
  • $207,125Loans and leases held for sale
  • $4,036Unused loan commitments
  • $2,016Tier 1 (core) risk-based capital
  • $19,730Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $2,020Total unused commitments
  • $14,103Restructured Loans and leases
  • $9,153Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $8,169Total interest income
  • $2,337Total interest expense
  • $5,832Net interest income
  • $315Provision for loan and lease losses
  • $65Total noninterest income
  • $0Fiduciary activities
  • $70Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$5Additional noninterest income
  • $3,400Total noninterest expense
  • $1,846Salaries and employee benefits
  • $422Premises and equipment expense
  • $1,132Additional noninterest expense
  • $2,182Pre-tax net operating income
  • $0Securities gains (losses)
  • $835Applicable income taxes
  • $1,347Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,347Net income attributable to bank
  • $0Net charge-offs
  • $1,347Cash dividends
  • $336Sale, conversion, retirement of capital stock, net
  • $230Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.67%Yield on earning assets
  • 1.34%Cost of funding earning assets
  • 3.34%Net interest margin
  • 0.04%Noninterest income to earning assets
  • 1.94%Noninterest expense to earning assets
  • 0.73%Net operating income to assets
  • 0.73%Return on assets (ROA)
  • 1.18%Pretax return on assets
  • 7.08%Return on equity (ROE)
  • 5.87%Retained earnings to average equity (YTD only)
  • 0.23%Net charge-offs to loans
  • 93.75%Credit loss provision to net charge-offs
  • 7.43%Efficiency ratio
  • 57,656Assets per employee
  • 8.39%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 17.07%Loss allowance to loans
  • 1.62%Loss allowance to noncurrent loans
  • 56.24%Noncurrent assets plus other real estate owned to assets
  • 2.47%Noncurrent loans to loans
  • 2.89%Net loans and leases to deposits
  • 81.26%Net loans and leases to core deposits
  • 104.09%Equity capital to assets
  • 9.41%Core capital (leverage) ratio
  • 9.53%Tier 1 risk-based capital ratio
  • 14.57%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $184,189Average earning assets
  • $19,038Average equity
  • $174,808Average loans

List of branches

  • 3 North Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0444132Providence Bank450 N Winstead Ave, Rocky Mount, NC 27804March 14, 2006Full Service Brick and Mortar
    1465816Tarboro Branch325 Main Street, Tarboro, NC 27886June 25, 2007Full Service Brick and Mortar
    35103282401 Sunset Avenue Branch2401 Sunset Avenue, Rocky Mount, NC 27804March 14, 2006Full Service Brick and Mortar

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