Security Bank of Bibb County in Macon, Georgia (GA)



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Security Bank of Bibb County
GeneralFDIC Certificate #: 27367
Status: Inactive
Closing history: Corrections
Acquiring institution: State Bank and Trust Company (#57870)
Federal Reserve ID: 1221558
Date Established: November 04, 1988
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 11 (Interstate: No)
OTS Docket #: 10176
FDIC's unique #: 39687
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: Yes
Date of Deposit Insurance: November 04, 1988
Last Structure Change Effective Date: July 24, 2009
Last Structure Change Process Date: July 27, 2009
Last Data Update: July 27, 2009
Data Source Date: April 05, 2012
LocationAddress: 4219 Forsyth Road, Macon, GA 31208
County: Bibb
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Atlanta
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Macon, GA (#4680)
Combined Statistical Area (CSA): Macon-Warner Robins-Fort Valley, GA (#356)
Core Based Statistical Area (CBSA): Macon, GA (#31420)
CBSA Metro Statistical Area: Macon, GA (#31420)
History of ChangesAbsorption - Assisted
Corrections
Financial SummaryTotal assets: $943.7 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, 2008)
(Dollar figures in thousands)
Total employees (full-time equivalent)137
Total assets$1,231,751
Cash and due from depository institutions$84,754
Interest-bearing balances$66,275
Securities$134,940
Federal funds sold & reverse repurchase agreements$246
Net loans & leases$913,772
Loan loss allowance $31,658
Trading account assets$0
Bank premises and fixed assets$19,589
Other real estate owned$37,381
Goodwill and other intangibles$1,869
All other assets$39,200
Life insurance assets$5,763
Total liabilities and capital$1,231,751
Total liabilities$1,169,922
Total deposits$1,038,170
Interest-bearing deposits$979,620
Deposits held in domestic offices$1,038,170
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $20,648
Trading liabilities$0
Other borrowed funds $100,000
Subordinated debt $0
All other liabilities $11,104
Total equity capital$61,829
Total bank equity capital$61,829
Perpetual preferred stock$61,829
Common stock$0
Surplus$500
Undivided profits $108,523
Memoranda
Noncurrent loans and leases $-47,194
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $116,589
Income earned, not collected on loans $0
Earning assets $91,177
Long-term assets (5+ years) $0
Average Assets, year-to-date $4,708
Average Assets, quarterly $1,115,233
Volatile liabilities $89,429
Insider loans $1,297,871
FHLB advances $1,262,754
Loans and leases held for sale $520,420
Unused loan commitments $52,133
Tier 1 (core) risk-based capital $100,000
Tier 2 risk-based capital $0
Total risk weighted assets $1
Total unused commitments $116,589
Restructured Loans and leases $59
Derivatives$12,605
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Income and Expense (December 31, 2008)
(Dollar figures in thousands)
Total interest income $69,205
Total interest expense $39,723
Net interest income $29,482
Provision for loan and lease losses $74,552
Total noninterest income $6,408
Fiduciary activities $0
Service charges on deposit accounts $5,409
Trading account gains & fees $0
Additional noninterest income $999
Total noninterest expense $74,434
Salaries and employee benefits $12,175
Premises and equipment expense $2,866
Additional noninterest expense $59,393
Pre-tax net operating income -$113,096
Securities gains (losses) $1,824
Applicable income taxes -$7,329
Income before extraordinary items -$103,943
Extraordinary gains - net $0
Net income attributable to bank -$103,943
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $57,930
Net operating income $0
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Performance and Condition Ratios (December 31, 2008)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.16%
Cost of funding earning assets 3.54%
Net interest margin 2.63%
Noninterest income to earning assets 0.57%
Noninterest expense to earning assets 6.63%
Net operating income to assets -8.14%
Return on assets (ROA) -8.01%
Pretax return on assets -8.57%
Return on equity (ROE) -93.23%
Retained earnings to average equity (YTD only) -93.23%
Net charge-offs to loans 5.81%
Credit loss provision to net charge-offs 128.69%
Efficiency ratio-0.67%
Assets per employee$88,950
Cash dividends to net income (YTD only)8.99%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 3.35%
Noncurrent assets plus other real estate owned to assets 34.72%
Noncurrent loans to loans 10.44%
Net loans and leases to deposits9.64%
Net loans and leases to core deposits 88.02%
Equity capital to assets 169.72%
Core capital (leverage) ratio 5.02%
Tier 1 risk-based capital ratio 4.62%
Total risk-based capital ratio 5.83%
Memoranda
Average assets$7
Average earning assets$1,297,871
Average equity $111,496
Average loans $1,122,622
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