Southern Bank & Trust in Aiken, South Carolina (SC)

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Southern Bank & Trust
GeneralFDIC Certificate #: 58327
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Georgia Bank & Trust Company of Augusta (#27574)
Federal Reserve ID: 3454510
Date Established: September 12, 2006
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Interstate: No)
OTS Docket #: 18020
FDIC's unique #: 446181
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: September 12, 2006
Last Structure Change Effective Date: December 05, 2011
Last Structure Change Process Date: December 15, 2011
Last Data Update: December 15, 2011
Data Source Date: April 05, 2012
LocationAddress: 149 Laurens Street, Nw, Aiken, SC 29801
County: Aiken
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): Augusta-Aiken, GA-SC (#600)
Core Based Statistical Area (CBSA): Augusta-Richmond County, GA-SC (#12260)
CBSA Metro Statistical Area: Augusta-Richmond County, GA-SC (#12260)
Financial SummaryTotal assets: $185.8 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, 2010)
(Dollar figures in thousands)
Total employees (full-time equivalent)25
Total assets$185,059
Cash and due from depository institutions$24,170
Interest-bearing balances$22,588
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$115,583
Loan loss allowance $2,474
Trading account assets$0
Bank premises and fixed assets$4,441
Other real estate owned$1,523
Goodwill and other intangibles$0
All other assets$2,607
Life insurance assets$0
Total liabilities and capital$185,059
Total liabilities$170,632
Total deposits$164,663
Interest-bearing deposits$150,400
Deposits held in domestic offices$164,663
% insured (estimated)94.58%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $5,000
Subordinated debt $0
All other liabilities $969
Total equity capital$14,427
Total bank equity capital$14,427
Perpetual preferred stock$14,427
Common stock$0
Undivided profits $10,758
Noncurrent loans and leases $-1,332
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $9,907
Income earned, not collected on loans $0
Earning assets $2,187
Long-term assets (5+ years) $0
Average Assets, year-to-date $592
Average Assets, quarterly $174,906
Volatile liabilities $41,449
Insider loans $174,131
FHLB advances $183,071
Loans and leases held for sale $44,237
Unused loan commitments $3,502
Tier 1 (core) risk-based capital $5,000
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $9,907
Restructured Loans and leases $25
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Income and Expense (December 31, 2010)
(Dollar figures in thousands)
Total interest income $8,043
Total interest expense $2,760
Net interest income $5,283
Provision for loan and lease losses $1,340
Total noninterest income $870
Fiduciary activities $0
Service charges on deposit accounts $464
Trading account gains & fees $0
Additional noninterest income $406
Total noninterest expense $4,062
Salaries and employee benefits $1,576
Premises and equipment expense $639
Additional noninterest expense $1,847
Pre-tax net operating income $751
Securities gains (losses) $0
Applicable income taxes $344
Income before extraordinary items $407
Extraordinary gains - net $0
Net income attributable to bank $407
Net charge-offs $0
Cash dividends $407
Sale, conversion, retirement of capital stock, net $1,023
Net operating income $0
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Performance and Condition Ratios (December 31, 2010)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.23%
Cost of funding earning assets 1.79%
Net interest margin 3.43%
Noninterest income to earning assets 0.57%
Noninterest expense to earning assets 2.64%
Net operating income to assets 0.23%
Return on assets (ROA) 0.23%
Pretax return on assets 0.43%
Return on equity (ROE) 2.83%
Retained earnings to average equity (YTD only) 2.83%
Net charge-offs to loans 0.83%
Credit loss provision to net charge-offs 130.99%
Efficiency ratio2.04%
Assets per employee$66,017
Cash dividends to net income (YTD only)7.40%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.10%
Noncurrent assets plus other real estate owned to assets 113.12%
Noncurrent loans to loans 2.00%
Net loans and leases to deposits1.85%
Net loans and leases to core deposits 70.19%
Equity capital to assets 94.41%
Core capital (leverage) ratio 7.80%
Tier 1 risk-based capital ratio 7.84%
Total risk-based capital ratio 11.84%
Average assets$13
Average earning assets$174,131
Average equity $14,392
Average loans $153,823
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