South Carolina Federal Savings Bank in Columbia, South Carolina (SC)

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South Carolina Federal Savings Bank
GeneralFDIC Certificate #: 28439
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: First Union National Bank of South Carolina (#18395)
Federal Reserve ID: 592073
Date Established: January 01, 1931
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
OTS Docket #: 1592
FDIC's unique #: 41273
Numeric code: 33
Regulator: OTS
Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
FDIC Insured: Yes
SAIF Insured: Yes
Insured Savings Institution: Yes
State Chartered: No
Date of Deposit Insurance: December 26, 1934
Last Structure Change Effective Date: Febuary 19, 1993
Last Structure Change Process Date: March 01, 1993
Last Data Update: March 01, 1993
Data Source Date: April 05, 2012
LocationAddress: 1500 Hampton Street, Columbia, SC 29201
County: Richland
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): Columbia, SC (#1760)
Combined Statistical Area (CSA): Columbia-Newberry, SC (#192)
Core Based Statistical Area (CBSA): Columbia, SC (#17900)
CBSA Metro Statistical Area: Columbia, SC (#17900)
Financial SummaryTotal assets: $824.6 mil
Assets and Liabilities (December 31, 1992)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$369
Cash and due from depository institutions$824,606
Interest-bearing balances$35,177
Federal funds sold & reverse repurchase agreements$67,837
Net loans & leases$0
Loan loss allowance $668,110
Trading account assets$10,881
Bank premises and fixed assets$0
Other real estate owned$13,048
Goodwill and other intangibles$20,212
All other assets$4,344
Life insurance assets$15,878
Total liabilities and capital$0
Total liabilities$824,606
Total deposits$778,938
Interest-bearing deposits$639,657
Deposits held in domestic offices$579,495
% insured (estimated)639657.00%
Federal funds purchased & repurchase agreements $96
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $124,831
All other liabilities $0
Total equity capital$14,450
Total bank equity capital$14,450
Perpetual preferred stock$45,668
Common stock$0
Undivided profits $25,362
Noncurrent loans and leases $20,305
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $8,305
Earning assets $4,938
Long-term assets (5+ years) $741,339
Average Assets, year-to-date $0
Average Assets, quarterly $881,970
Volatile liabilities $842,419
Insider loans $195,008
FHLB advances $0
Loans and leases held for sale $116,500
Unused loan commitments $0
Tier 1 (core) risk-based capital $118,354
Tier 2 risk-based capital $0
Total risk weighted assets $44,585
Total unused commitments $600,029
Restructured Loans and leases $0
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Income and Expense (December 31, 1992)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $72,791
Net interest income $37,590
Provision for loan and lease losses $35,201
Total noninterest income $9,820
Fiduciary activities $7,416
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $0
Total noninterest expense $7,416
Salaries and employee benefits $35,774
Premises and equipment expense $13,528
Additional noninterest expense $12,113
Pre-tax net operating income $10,133
Securities gains (losses) -$2,977
Applicable income taxes $2,104
Income before extraordinary items $2,973
Extraordinary gains - net -$3,846
Net income attributable to bank $470
Net charge-offs -$3,376
Cash dividends $4,744
Sale, conversion, retirement of capital stock, net $1,819
Net operating income $0
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Performance and Condition Ratios (December 31, 1992)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 9.13%
Net interest margin 4.72%
Noninterest income to earning assets 4.42%
Noninterest expense to earning assets 0.93%
Net operating income to assets 4.49%
Return on assets (ROA) -0.67%
Pretax return on assets -0.38%
Return on equity (ROE) -0.05%
Retained earnings to average equity (YTD only) -6.53%
Net charge-offs to loans -10.05%
Credit loss provision to net charge-offs 0.66%
Efficiency ratio207.00%
Assets per employee$83,443
Cash dividends to net income (YTD only)2.23%
Condition Ratios (%)
Loss allowance to loans -53.88%
Loss allowance to noncurrent loans 1.60%
Noncurrent assets plus other real estate owned to assets 131.02%
Noncurrent loans to loans 3.45%
Net loans and leases to deposits1.22%
Net loans and leases to core deposits 104.45%
Equity capital to assets 117.32%
Core capital (leverage) ratio 5.54%
Tier 1 risk-based capital ratio 5.42%
Total risk-based capital ratio 7.43%
Average assets$9
Average earning assets$881,970
Average equity $51,695
Average loans $796,892
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