Rowan Savings Bank, SSB, Inc. in China Grove, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of November 30, 2004

  • Rowan Savings Bank, SSB, Inc. in China Grove, North Carolina (NC)
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Rowan Savings Bank, SSB, Inc. - Overview

  • General
  • FDIC Certificate #: 32355
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Communityone Bank, National Association (#4879)
    Federal Reserve ID: 396879
    Date Established: May 17, 1905
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 3 (Interstate: No)
    OTS Docket #: 8177
    FDIC's unique #: 45189
    Numeric code: 41
    Regulator: FDIC
    Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
    FDIC Insured: Yes
    SAIF Insured: Yes
    Insured Savings Institution: Yes
    State Chartered: Yes
    Date of Deposit Insurance: July 08, 1985
    Last Structure Change Effective Date: November 30, 2004
    Last Structure Change Process Date: December 20, 2004
    Last Data Update: December 20, 2004
    Data Source Date: April 05, 2012
  • Location
  • Address: 200 North Main Street, China Grove, NC 28023
    County: Rowan
    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): Charlotte-Gastonia-Rock Hill, NC-SC (#1520)
    Combined Statistical Area (CSA): Charlotte-Gastonia-Salisbury, NC-SC (#172)
    Core Based Statistical Area (CBSA): Salisbury, NC (#41580)
    CBSA Micro Statistical Area: Yes
  • Financial Summary
  • Total assets: $164.4 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, 2003)

  • Dollar figures in thousands
  • 38Total employees (full-time equivalent)
  • $136,733Total assets
  • $9,718Cash and due from depository institutions
  • $5,856Interest-bearing balances
  • $6,944Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $99,525Net loans & leases
  • $1,026Loan loss allowance
  • $0Trading account assets
  • $3,505Bank premises and fixed assets
  • $781Other real estate owned
  • $12,741Goodwill and other intangibles
  • $0Life insurance assets
  • $3,519All other assets
  • $136,733Total liabilities and capital
  • $113,255Total liabilities
  • $103,187Total deposits
  • $98,846Interest-bearing deposits
  • $103,187Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $927Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $8,303Other borrowed funds
  • $0Subordinated debt
  • $838All other liabilities
  • $23,478Total equity capital
  • $23,478Total bank equity capital
  • $23,478Perpetual preferred stock
  • $0Common stock
  • $18,951Surplus
  • $0Undivided profits
  • Memoranda
  • $4,527Noncurrent loans and leases
  • $28,422Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $1,623Earning assets
  • $0Long-term assets (5+ years)
  • $490Average Assets, year-to-date
  • $112,325Average Assets, quarterly
  • $19,824Volatile liabilities
  • $137,607Insider loans
  • $136,414FHLB advances
  • $23,948Loans and leases held for sale
  • $412Unused loan commitments
  • $8,303Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $28,422Total unused commitments
  • $0Restructured Loans and leases
  • $1,026Derivatives

Income and Expense (December 31, 2003)

  • Dollar figures in thousands
  • $6,814Total interest income
  • $2,016Total interest expense
  • $4,798Net interest income
  • $230Provision for loan and lease losses
  • $1,537Total noninterest income
  • $0Fiduciary activities
  • $473Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,064Additional noninterest income
  • $4,206Total noninterest expense
  • $1,981Salaries and employee benefits
  • $428Premises and equipment expense
  • $1,797Additional noninterest expense
  • $1,899Pre-tax net operating income
  • $0Securities gains (losses)
  • $676Applicable income taxes
  • $1,223Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,223Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $287Sale, conversion, retirement of capital stock, net
  • $513Net operating income

Performance and Condition Ratios (December 31, 2003)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.91%Yield on earning assets
  • 1.75%Cost of funding earning assets
  • 4.16%Net interest margin
  • 1.33%Noninterest income to earning assets
  • 3.65%Noninterest expense to earning assets
  • 0.89%Net operating income to assets
  • 0.89%Return on assets (ROA)
  • 1.38%Pretax return on assets
  • 5.28%Return on equity (ROE)
  • 3.07%Retained earnings to average equity (YTD only)
  • 0.29%Net charge-offs to loans
  • 80.14%Credit loss provision to net charge-offs
  • 7.42%Efficiency ratio
  • 65,320Assets per employee
  • 3.60%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 41.95%Loss allowance to loans
  • 1.02%Loss allowance to noncurrent loans
  • 63.22%Noncurrent assets plus other real estate owned to assets
  • 1.76%Noncurrent loans to loans
  • 1.61%Net loans and leases to deposits
  • 96.45%Net loans and leases to core deposits
  • 121.00%Equity capital to assets
  • 17.17%Core capital (leverage) ratio
  • 8.68%Tier 1 risk-based capital ratio
  • 12.13%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $137,607Average earning assets
  • $23,149Average equity
  • $115,237Average loans

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