Southern Bank in Sardis, Georgia (GA)

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Southern Bank
GeneralFDIC Certificate #: 16288
Status: Active
Federal Reserve ID: 307334
Bank Holding Company (Regulatory Top Holder): Sardis Bankshares, Inc. (RSSDID: 1141816, Location: Sardis, GA)
Date Established: July 02, 1945
WWW: http://www.burke.netbbc/
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Domestic: 5, Interstate: No)
FDIC's unique #: 10476
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 02, 1945
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
LocationAddress: 731 Charles Perry Ave, Sardis, GA 30456
County: Burke
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Savannah
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Core Based Statistical Area (CBSA): Augusta-Richmond County, GA-SC (#12260)
CBSA Metro Statistical Area: Augusta-Richmond County, GA-SC (#12260)
History of ChangesChange in Location
Change in Geographic Region/Area/Territory/Field Office
Merge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $88.5 mil
Equity capital: $7.8 mil
Deposits held in domestic offices: $80.4 mil
Return on assets (ROA): 0.23% ($0.2 mil)
Quarterly return on assets: -0.14% (-$0.1 mil)
Return on Equity (ROE): 2.64% ($0.2 mil)
Quarterly return on equity: -1.53% (-$0.1 mil)
Net income: $0.2 mil
Quarterly Net income: -$0.0 mil
Pretax return on assets: 0.25% ($221.3 mil)
Quarterly Pretax return on assets: -0.02% (-$17.7 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)33
Total assets$88,512
Cash and due from depository institutions$4,550
Interest-bearing balances$849
Federal funds sold & reverse repurchase agreements$4,575
Net loans & leases$53,934
Loan loss allowance $1,214
Trading account assets$0
Bank premises and fixed assets$1,664
Other real estate owned$6,546
Goodwill and other intangibles$0
All other assets$1,407
Life insurance assets$88,512
Total liabilities and capital$80,667
Total liabilities$80,394
Total deposits$70,537
Interest-bearing deposits$80,394
Deposits held in domestic offices$94
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $273
All other liabilities $7,845
Total equity capital$7,845
Total bank equity capital$7,845
Perpetual preferred stock$0
Common stock$260
Undivided profits $3,602
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $2,712
Earning assets $0
Long-term assets (5+ years) $467
Average Assets, year-to-date $75,194
Average Assets, quarterly $30,931
Volatile liabilities $90,255
Insider loans $88,562
FHLB advances $62,650
Loans and leases held for sale $88,001
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $7,829
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $335
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $4,716
Total interest expense $1,188
Net interest income $3,528
Provision for loan and lease losses $240
Total noninterest income $128
Fiduciary activities $0
Service charges on deposit accounts $283
Trading account gains & fees $0
Additional noninterest income -$155
Total noninterest expense $3,235
Salaries and employee benefits $1,630
Premises and equipment expense $479
Additional noninterest expense $1,126
Pre-tax net operating income $181
Securities gains (losses) $49
Applicable income taxes $25
Income before extraordinary items $205
Extraordinary gains - net $0
Net income attributable to bank $205
Net charge-offs $0
Cash dividends $205
Sale, conversion, retirement of capital stock, net $245
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.10%
Cost of funding earning assets 1.54%
Net interest margin 4.56%
Noninterest income to earning assets 0.17%
Noninterest expense to earning assets 4.18%
Net operating income to assets 0.18%
Return on assets (ROA) 0.23%
Pretax return on assets 0.25%
Return on equity (ROE) 2.64%
Retained earnings to average equity (YTD only) 2.64%
Net charge-offs to loans 0.43%
Credit loss provision to net charge-offs 97.96%
Efficiency ratio1.72%
Assets per employee$88,485
Cash dividends to net income (YTD only)2.68%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.20%
Noncurrent assets plus other real estate owned to assets 44.76%
Noncurrent loans to loans 10.46%
Net loans and leases to deposits4.92%
Net loans and leases to core deposits 67.09%
Equity capital to assets 67.63%
Core capital (leverage) ratio 8.86%
Tier 1 risk-based capital ratio 8.90%
Total risk-based capital ratio 12.50%
Average assets$14
Average earning assets$90,255
Average equity $7,752
Average loans $77,331
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5 Georgia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
010476Southern Bank731 Charles Perry Ave, Sardis, GA 30456July 02, 1945Full Service Brick and Mortar
1237840East 6th Street Branch229 Sixth Street, Waynesboro, GA 30830June 15, 1987Limited Service Facility
2237841Hephzibah Branch2455 Highway 88, Hephzibah, GA 30815November 18, 1996Full Service Brick and Mortar
3360929Liberty Street Office Branch855 Liberty Street, Waynesboro, GA 30830May 07, 2001Full Service Brick and Mortar
4511143Gibson Branch21 College Street, Gibson, GA 30810July 26, 2010Full Service Brick and Mortar
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