FDIC Certificate #: 58873 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Bank of North Carolina (#33527) Federal Reserve ID: 3824270 Date Established: April 14, 2009 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) Offices: 1 (Interstate: No) OTS Docket #: 18108 FDIC's unique #: 473492 Numeric code: 33 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes State Chartered: No Date of Deposit Insurance: April 14, 2009 Last Structure Change Effective Date: December 31, 2011 Last Structure Change Process Date: January 09, 2012 Last Data Update: January 09, 2012 Data Source Date: April 05, 2012
Location
Address: 550 E Mcbee Avenue, Greenville, SC 29601 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)
Financial Summary
Total assets: $54.2 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2010)
Dollar figures in thousands
12Total employees (full-time equivalent)
$44,841Total assets
$1,031Cash and due from depository institutions
$0Interest-bearing balances
$0Securities
$6,344Federal funds sold & reverse repurchase agreements
$33,888Net loans & leases
$346Loan loss allowance
$0Trading account assets
$2,584Bank premises and fixed assets
$0Other real estate owned
$13Goodwill and other intangibles
$0Life insurance assets
$981All other assets
$44,841Total liabilities and capital
$36,795Total liabilities
$36,571Total deposits
$33,536Interest-bearing deposits
$36,571Deposits held in domestic offices
91.77%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$224All other liabilities
$8,046Total equity capital
$8,046Total bank equity capital
$8,046Perpetual preferred stock
$0Common stock
$1,200Surplus
$8,879Undivided profits
Memoranda
$-2,033Noncurrent loans and leases
$5,458Noncurrent 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)
$112Average Assets, year-to-date
$40,232Average Assets, quarterly
$0Volatile liabilities
$34,147Insider loans
$40,859FHLB advances
$9,273Loans and leases held for sale
$3,885Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$5,458Total unused commitments
$0Restructured Loans and leases
$346Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$1,475Total interest income
$380Total interest expense
$1,095Net interest income
$266Provision for loan and lease losses
$176Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$176Additional noninterest income
$2,124Total noninterest expense
$983Salaries and employee benefits
$407Premises and equipment expense
$734Additional noninterest expense
-$1,119Pre-tax net operating income
$0Securities gains (losses)
-$421Applicable income taxes
-$698Income before extraordinary items
$0Extraordinary gains - net
-$698Net income attributable to bank
$0Net charge-offs
-$698Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.67%Yield on earning assets
1.20%Cost of funding earning assets
3.47%Net interest margin
0.56%Noninterest income to earning assets
6.73%Noninterest expense to earning assets
-2.04%Net operating income to assets
-2.04%Return on assets (ROA)
-3.28%Pretax return on assets
-8.39%Return on equity (ROE)
-8.39%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
166,326Assets per employee
3.74%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.01%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
92.66%Net loans and leases to core deposits
124.14%Equity capital to assets
17.94%Core capital (leverage) ratio
16.66%Tier 1 risk-based capital ratio
19.99%Total risk-based capital ratio
Memoranda
$21Average assets
$34,147Average earning assets
$8,316Average equity
$31,566Average loans
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