South Georgia Banking Company in Omega, Georgia (GA)

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South Georgia Banking Company
GeneralFDIC Certificate #: 20198
Status: Active
Federal Reserve ID: 767732
Bank Holding Company (Regulatory Top Holder): South Georgia Bank Holding Company (RSSDID: 2764977, Location: Omega, GA)
Date Established: June 14, 1937
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 7 (Domestic: 7, Interstate: No)
FDIC's unique #: 13883
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Agricultural lending institution: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Agricultural Specialization
Date of Deposit Insurance: June 11, 1970
Last Structure Change Effective Date: December 28, 2006
Last Structure Change Process Date: January 09, 2007
Last Data Update: January 09, 2007
Data Source Date: April 05, 2012
LocationAddress: 5515 Alabama Avenue, Omega, GA 31775
County: Tift
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Albany Ga
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Core Based Statistical Area (CBSA): Tifton, GA (#45700)
CBSA Micro Statistical Area: Yes
History of ChangesParticipated in Absorption/Consolidation/Merger
Financial SummaryTotal assets: $346.7 mil
Equity capital: $44.0 mil
Deposits held in domestic offices: $301.6 mil
Return on assets (ROA): 1.05% ($3.6 mil)
Quarterly return on assets: 1.24% ($4.3 mil)
Return on Equity (ROE): 8.11% ($3.6 mil)
Quarterly return on equity: 9.47% ($4.2 mil)
Net income: $3.5 mil
Quarterly Net income: $1.0 mil
Pretax return on assets: 1.44% ($4,992.7 mil)
Quarterly Pretax return on assets: 1.74% ($6,032.8 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)108
Total assets$346,712
Cash and due from depository institutions$43,898
Interest-bearing balances$15,808
Federal funds sold & reverse repurchase agreements$35,580
Net loans & leases$172,999
Loan loss allowance $3,341
Trading account assets$0
Bank premises and fixed assets$6,848
Other real estate owned$3,349
Goodwill and other intangibles$10,397
All other assets$5,380
Life insurance assets$346,712
Total liabilities and capital$302,664
Total liabilities$301,616
Total deposits$223,828
Interest-bearing deposits$301,616
Deposits held in domestic offices$92
% insured (estimated)510.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $538
All other liabilities $44,048
Total equity capital$44,048
Total bank equity capital$44,048
Perpetual preferred stock$0
Common stock$9,000
Undivided profits $10,325
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $920
Income earned, not collected on loans $4,007
Earning assets $0
Long-term assets (5+ years) $2,953
Average Assets, year-to-date $292,648
Average Assets, quarterly $45,333
Volatile liabilities $335,909
Insider loans $337,884
FHLB advances $196,027
Loans and leases held for sale $325,824
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $32,280
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $27,650
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $14,718
Total interest expense $2,288
Net interest income $12,430
Provision for loan and lease losses $775
Total noninterest income $2,947
Fiduciary activities $0
Service charges on deposit accounts $1,957
Trading account gains & fees $0
Additional noninterest income $990
Total noninterest expense $9,770
Salaries and employee benefits $5,790
Premises and equipment expense $1,037
Additional noninterest expense $2,943
Pre-tax net operating income $4,832
Securities gains (losses) $14
Applicable income taxes $1,334
Income before extraordinary items $3,512
Extraordinary gains - net $0
Net income attributable to bank $3,512
Net charge-offs $0
Cash dividends $3,512
Sale, conversion, retirement of capital stock, net $568
Net operating income $2,850
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.16%
Cost of funding earning assets 0.80%
Net interest margin 4.36%
Noninterest income to earning assets 1.03%
Noninterest expense to earning assets 3.43%
Net operating income to assets 1.04%
Return on assets (ROA) 1.05%
Pretax return on assets 1.44%
Return on equity (ROE) 8.11%
Retained earnings to average equity (YTD only) 1.53%
Net charge-offs to loans 0.31%
Credit loss provision to net charge-offs 136.44%
Efficiency ratio9.87%
Assets per employee$62,932
Cash dividends to net income (YTD only)3.21%
Condition Ratios (%)
Loss allowance to loans 81.15%
Loss allowance to noncurrent loans 1.89%
Noncurrent assets plus other real estate owned to assets 83.38%
Noncurrent loans to loans 2.12%
Net loans and leases to deposits2.27%
Net loans and leases to core deposits 57.36%
Equity capital to assets 59.37%
Core capital (leverage) ratio 12.70%
Tier 1 risk-based capital ratio 9.91%
Total risk-based capital ratio 16.47%
Average assets$18
Average earning assets$335,909
Average equity $43,323
Average loans $285,130
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7 Georgia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
013883South Georgia Banking Company5515 Alabama Avenue, Omega, GA 31775June 14, 1937Full Service Brick and Mortar
2250481West Second Branch725 West 2nd Street, Tifton, GA 31794December 10, 1987Full Service Brick and Mortar
4357224Moultrie Branch410 Lane Street, Moultrie, GA 31768April 01, 2000Full Service Brick and Mortar
5442443Tift Avenue Branch2005 Tift Avenue, Tifton, GA 31794July 01, 2004Full Service Brick and Mortar
646305Ashburn Main Branch561 East Washington Street, Ashburn, GA 31714August 06, 1990Full Service Brick and Mortar
7289205Industrial Drive Branch131 Industrial Drive, Ashburn, GA 31714September 28, 1998Full Service Brick and Mortar
8357691Cordele Branch702 S. Peacan Street, Cordele, GA 31015Febuary 10, 2000Full Service Brick and Mortar
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