SouthCoast Community Bank in Mount Pleasant, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • SouthCoast Community Bank in Mount Pleasant, South Carolina (SC)
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SouthCoast Community Bank - Overview

  • General
  • FDIC Certificate #: 34774
    Status: Active
    Federal Reserve ID: 2713555
    Bank Holding Company (Regulatory Top Holder): Southcoast Financial Corporation (RSSDID: 2794778, Location: Mount Pleasant, SC)
    Date Established: July 20, 1998
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 12 (Domestic: 12, Interstate: No)
    FDIC's unique #: 61547
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: July 20, 1998
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 530 Johnnie Dodds Boulevard, Mount Pleasant, SC 29464
    County: Charleston
    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): Charleston-North Charleston, SC (#1440)
    Core Based Statistical Area (CBSA): Charleston-North Charleston-Summerville, SC (#16700)
    CBSA Metro Statistical Area: Charleston-North Charleston-Summerville, SC (#16700)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $425.3 mil
    Equity capital: $37.6 mil
    Deposits held in domestic offices: $318.7 mil
    Return on assets (ROA): -3.31% (-$14.1 mil)
    Quarterly return on assets: -4.30% (-$18.3 mil)
    Return on Equity (ROE): -34.64% (-$13.2 mil)
    Quarterly return on equity: -47.66% (-$18.1 mil)
    Net income: -$15.0 mil
    Quarterly Net income: -$4.7 mil
    Pretax return on assets: -2.51% (-$10,675.9 mil)
    Quarterly Pretax return on assets: -4.14% (-$17,608.9 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
  • 94Total employees (full-time equivalent)
  • $425,336Total assets
  • $18,188Cash and due from depository institutions
  • $12,052Interest-bearing balances
  • $48,872Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $310,042Net loans & leases
  • $10,692Loan loss allowance
  • $0Trading account assets
  • $20,092Bank premises and fixed assets
  • $9,323Other real estate owned
  • $0Goodwill and other intangibles
  • $425,336Life insurance assets
  • $18,819All other assets
  • $387,725Total liabilities and capital
  • $318,721Total liabilities
  • $282,391Total deposits
  • $318,721Interest-bearing deposits
  • $94Deposits held in domestic offices
  • 6850.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $60,000Trading liabilities
  • $0Other borrowed funds
  • $2,154Subordinated debt
  • $37,611All other liabilities
  • $37,611Total equity capital
  • $37,611Total bank equity capital
  • $0Perpetual preferred stock
  • $5,240Common stock
  • $47,360Surplus
  • $-14,989Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $995Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $19,475Income earned, not collected on loans
  • $0Earning assets
  • $1,327Long-term assets (5+ years)
  • $370,966Average Assets, year-to-date
  • $184,296Average Assets, quarterly
  • $452,802Volatile liabilities
  • $432,976Insider loans
  • $324,526FHLB advances
  • $433,603Loans and leases held for sale
  • $11,922Unused loan commitments
  • $9,644Tier 1 (core) risk-based capital
  • $38,620Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $2,278Total unused commitments
  • $18,340Restructured Loans and leases
  • $1,050Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $18,904Total interest income
  • $6,465Total interest expense
  • $12,439Net interest income
  • $10,023Provision for loan and lease losses
  • $2,838Total noninterest income
  • $0Fiduciary activities
  • $794Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,044Additional noninterest income
  • $17,284Total noninterest expense
  • $6,373Salaries and employee benefits
  • $2,688Premises and equipment expense
  • $8,223Additional noninterest expense
  • -$12,030Pre-tax net operating income
  • $677Securities gains (losses)
  • $3,635Applicable income taxes
  • -$14,988Income before extraordinary items
  • $0Extraordinary gains - net
  • -$14,988Net income attributable to bank
  • $0Net charge-offs
  • -$14,988Cash dividends
  • $8,844Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.76%Yield on earning assets
  • 1.63%Cost of funding earning assets
  • 3.13%Net interest margin
  • 0.71%Noninterest income to earning assets
  • 4.35%Noninterest expense to earning assets
  • -3.46%Net operating income to assets
  • -3.31%Return on assets (ROA)
  • -2.51%Pretax return on assets
  • -34.64%Return on equity (ROE)
  • -34.64%Retained earnings to average equity (YTD only)
  • 2.69%Net charge-offs to loans
  • 113.33%Credit loss provision to net charge-offs
  • -0.23%Efficiency ratio
  • 113,137Assets per employee
  • 4.52%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.33%Loss allowance to noncurrent loans
  • 54.90%Noncurrent assets plus other real estate owned to assets
  • 6.77%Noncurrent loans to loans
  • 6.07%Net loans and leases to deposits
  • 97.28%Net loans and leases to core deposits
  • 110.90%Equity capital to assets
  • 8.84%Core capital (leverage) ratio
  • 8.91%Tier 1 risk-based capital ratio
  • 11.90%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $452,802Average earning assets
  • $43,266Average equity
  • $397,527Average loans

List of branches

  • 12 South Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    061547Southcoast Community Bank530 Johnnie Dodds Boulevard, Mount Pleasant, SC 29464July 20, 1998Full Service Brick and Mortar
    1364149Maybank Highway Branch2753 Maybank Highway, Johns Island, SC 29455April 05, 2002Full Service Brick and Mortar
    2364150Moncks Corner Branch337 East Main Street, Moncks Corner, SC 29461May 04, 2000Full Service Brick and Mortar
    3364151Savannah Highway Branch802 Savannah Highway, Charleston, SC 29407September 13, 1999Full Service Brick and Mortar
    4364157Coleman Branch602 Coleman Boulevard, Mount Pleasant, SC 29464December 06, 2001Full Service Brick and Mortar
    5418455Messenger Service Branch530 Johnnie Dobbs Boulevard, Mount Pleasant, SC 29464April 05, 2002Limited Service Messenger
    6429964Summerville Branch203 N. Main Street, Summerville, SC 29483Febuary 23, 2004Full Service Brick and Mortar
    7442311Goose Creek Branch597 Old Mt. Holly Road, Goose Creek, SC 29445December 17, 2004Full Service Brick and Mortar
    8453052Dorchester Road Branch8420 Dorchester Road, Charleston, SC 29420December 28, 2005Full Service Brick and Mortar
    9457867Charleston Branch1654 Sam Rittenberg Boulevard, Charleston, SC 29407January 08, 2007Full Service Brick and Mortar
    10466505Park West Branch3305 South Morgan's Point, Mount Pleasant, SC 29466April 29, 2007Full Service Brick and Mortar
    11466786I-Bank534 Johnnie Dodds Blvd., Mount Pleasant, SC 29464July 01, 2006Limited Service Administrative

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