Southern Bank and Trust Company in Mount Olive, North Carolina (NC), VA
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Southern Bank and Trust Company in Mount Olive, North Carolina (NC), VA
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Southern Bank and Trust Company - Overview

  • General
  • FDIC Certificate #: 15359
    Status: Active
    Federal Reserve ID: 717924
    Bank Holding Company (Regulatory Top Holder): Southern Bancshares (N.C.), Inc. (RSSDID: 1075694, Location: Mount Olive, NC)
    Date Established: January 01, 1901
    WWW: http://www.southernbank.com
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 78 (Domestic: 78, Interstate: Yes)
    FDIC's unique #: 9687
    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: March 02, 1936
    Last Structure Change Effective Date: September 23, 2011
    Last Structure Change Process Date: September 26, 2011
    Last Data Update: September 26, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 100 North Center Street, Mount Olive, NC 28365
    County: Wayne
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Raleigh
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Goldsboro, NC (#2980)
    Core Based Statistical Area (CBSA): Goldsboro, NC (#24140)
    CBSA Metro Statistical Area: Goldsboro, NC (#24140)
  • History of Changes
  • Participated in FDIC Assisted Absorption/Consolidation/Merger
  • Financial Summary
  • Total assets: $2,039.8 mil
    Equity capital: $192.5 mil
    Deposits held in domestic offices: $1,658.5 mil
    Return on assets (ROA): 2.37% ($48.3 mil)
    Quarterly return on assets: 0.29% ($5.9 mil)
    Return on Equity (ROE): 25.44% ($48.8 mil)
    Quarterly return on equity: 3.11% ($6.0 mil)
    Net income: $38.4 mil
    Quarterly Net income: $1.5 mil
    Pretax return on assets: 3.86% ($78,737.9 mil)
    Quarterly Pretax return on assets: 0.47% ($9,587.3 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
  • 519Total employees (full-time equivalent)
  • $2,039,843Total assets
  • $222,779Cash and due from depository institutions
  • $175,663Interest-bearing balances
  • $344,065Securities
  • $732Federal funds sold & reverse repurchase agreements
  • $1,205,885Net loans & leases
  • $14,612Loan loss allowance
  • $0Trading account assets
  • $48,716Bank premises and fixed assets
  • $13,779Other real estate owned
  • $11,027Goodwill and other intangibles
  • $2,039,843Life insurance assets
  • $192,860All other assets
  • $1,847,099Total liabilities and capital
  • $1,658,465Total liabilities
  • $1,341,168Total deposits
  • $1,658,465Interest-bearing deposits
  • $87Deposits held in domestic offices
  • 78891.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $57,118Trading liabilities
  • $0Other borrowed funds
  • $52,625Subordinated debt
  • $192,744All other liabilities
  • $192,453Total equity capital
  • $192,453Total bank equity capital
  • $0Perpetual preferred stock
  • $832Common stock
  • $70,013Surplus
  • $121,608Undivided profits
  • Memoranda
  • $291Noncurrent loans and leases
  • $3,813Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $132,045Income earned, not collected on loans
  • $0Earning assets
  • $10,736Long-term assets (5+ years)
  • $1,726,345Average Assets, year-to-date
  • $380,466Average Assets, quarterly
  • $1,620,962Volatile liabilities
  • $2,041,835Insider loans
  • $1,121,879FHLB advances
  • $2,023,852Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $174,805Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $237,601Restructured Loans and leases
  • $254Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $59,020Total interest income
  • $10,299Total interest expense
  • $48,721Net interest income
  • $7,480Provision for loan and lease losses
  • $72,123Total noninterest income
  • $110Fiduciary activities
  • $6,240Service charges on deposit accounts
  • $0Trading account gains & fees
  • $65,773Additional noninterest income
  • $50,530Total noninterest expense
  • $27,763Salaries and employee benefits
  • $8,135Premises and equipment expense
  • $14,632Additional noninterest expense
  • $62,834Pre-tax net operating income
  • -$329Securities gains (losses)
  • $24,140Applicable income taxes
  • $38,365Income before extraordinary items
  • $0Extraordinary gains - net
  • $38,365Net income attributable to bank
  • $0Net charge-offs
  • $38,365Cash dividends
  • $4,096Sale, conversion, retirement of capital stock, net
  • $2,975Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.09%Yield on earning assets
  • 0.71%Cost of funding earning assets
  • 3.38%Net interest margin
  • 5.00%Noninterest income to earning assets
  • 3.50%Noninterest expense to earning assets
  • 2.38%Net operating income to assets
  • 2.37%Return on assets (ROA)
  • 3.86%Pretax return on assets
  • 25.44%Return on equity (ROE)
  • 23.46%Retained earnings to average equity (YTD only)
  • 0.44%Net charge-offs to loans
  • 182.62%Credit loss provision to net charge-offs
  • 17.17%Efficiency ratio
  • 41,518Assets per employee
  • 3.93%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 7.75%Loss allowance to loans
  • 1.20%Loss allowance to noncurrent loans
  • 11.07%Noncurrent assets plus other real estate owned to assets
  • 7.15%Noncurrent loans to loans
  • 10.82%Net loans and leases to deposits
  • 72.71%Net loans and leases to core deposits
  • 76.69%Equity capital to assets
  • 9.43%Core capital (leverage) ratio
  • 8.64%Tier 1 risk-based capital ratio
  • 15.58%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $1,620,962Average earning assets
  • $150,827Average equity
  • $1,441,855Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $26,246Managed Assets
  • 1Number of Accounts
  • $26,246Personal trust and agency accounts
  • $25,040Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $1,206Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 94Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 56 North Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    09687Southern Bank And Trust Company100 North Center Street, Mount Olive, NC 28365January 01, 1901Full Service Brick and Mortar
    2233747Deep Run Branch1916 Tulls Mill Rd., Deep Run, NC 28525April 09, 1966Full Service Brick and Mortar
    3233748North Breazeale Branch800 North Breazeale Avenue, Mount Olive, NC 28365August 18, 1962Full Service Brick and Mortar
    4233749Seven Springs Branch306 Main Street, Seven Springs, NC 28578July 22, 1963Full Service Brick and Mortar
    5233750Warsaw Branch114 North Pine Street, Warsaw, NC 28398July 18, 1966Full Service Brick and Mortar
    6233751Grantham Branch3382 U.S. Highway 13 South, Goldsboro, NC 27530September 24, 1966Full Service Brick and Mortar
    8233753Windsor Branch101 North King Street, Windsor, NC 27983October 06, 1969Full Service Brick and Mortar
    9233754Roxobel Branch113 South Main Street, Roxobel, NC 27872December 23, 1969Full Service Brick and Mortar
    10233755Robersonville Branch111 North Main Street, Robersonville, NC 27871July 16, 1971Full Service Brick and Mortar
    11233756Belhaven Branch148 East Main Street, Belhaven, NC 27810September 03, 1971Full Service Brick and Mortar
    12233757La Grange Branch208 South Caswell Street, La Grange, NC 28551September 24, 1971Full Service Brick and Mortar
    147574Macclesfield Branch105 North Railroad Street, Macclesfield, NC 27852January 18, 1916Full Service Brick and Mortar
    15233759Bath Branch419 Carteret Street, Bath, NC 27808Febuary 08, 1974Full Service Brick and Mortar
    17233761Dudley Branch4517 Us 117 Alternate, Dudley, NC 28333October 22, 1979Full Service Brick and Mortar
    20233764Ayden Branch236 3rd St., Ayden, NC 28513October 15, 1981Full Service Brick and Mortar
    22233766Plymouth Branch612 Washington Street, Plymouth, NC 27962March 10, 1982Full Service Brick and Mortar
    23233767Faison Branch110 West Center Street, Faison, NC 28341January 10, 1984Full Service Brick and Mortar
    24233768Bethel Branch7458 Main Street, Bethel, NC 27812August 18, 1986Full Service Brick and Mortar
    259089Gatesville Branch203 North Main Street, Gatesville, NC 27938September 29, 1904Full Service Brick and Mortar
    26231705Lewiston Branch127 Main Street, Lewiston, NC 27849October 15, 1951Full Service Brick and Mortar
    27231706Winton Branch301 North Main Street, Winton, NC 27986September 01, 1938Full Service Brick and Mortar
    28231707Murfreesboro Branch336 East Main Street, Murfreesboro, NC 27855October 30, 1970Full Service Brick and Mortar
    31233769Askewville Branch104 West Askewville Street, Askewville, NC 27983March 17, 1988Full Service Brick and Mortar
    33265202Nashville Branch209 Barnes Street, Nashville, NC 27856January 01, 1907Full Service Brick and Mortar
    34265204Roanoke Rapids Branch1580 East Tenth Street, Roanoke Rapids, NC 27870January 01, 1907Full Service Brick and Mortar
    39240662Pollocksville Branch214 East Main Street, Pollocksville, NC 28573June 29, 1964Full Service Brick and Mortar
    42204778Garland Branch83 S Bladen Ave, Garland, NC 28441Febuary 09, 1942Full Service Brick and Mortar
    43204815Salemburg Branch102 North Main Street, Salemburg, NC 28385August 15, 1946Full Service Brick and Mortar
    444038Farmville Branch4217 East Church Street, Farmville, NC 27828September 01, 1904Full Service Brick and Mortar
    46263683Kill Devil Hills Branch202 South Croatan Highway, Kill Devil Hills, NC 27948June 30, 1987Full Service Brick and Mortar
    47233770Whitakers Branch101 North White Street, Whitakers, NC 27891March 18, 1996Full Service Brick and Mortar
    49264563Edenton101 Queen Street, Edenton, NC 27932June 30, 1985Full Service Brick and Mortar
    50185693Aurora Branch298 North Fifth Street, Aurora, NC 27806July 24, 1950Full Service Brick and Mortar
    51185732Hamilton Branch109 North Front Street, Hamilton, NC 27840April 29, 1935Full Service Brick and Mortar
    52185781Aulander Branch119 South Commerce Street, Aulander, NC 27805May 06, 1935Full Service Brick and Mortar
    5441147Enfield201 Batchelor Street, Enfield, NC 27823January 01, 1912Full Service Brick and Mortar
    56233772Westridge Branch3690 Sunset Avenue, Rocky Mount, NC 27804August 18, 1997Full Service Brick and Mortar
    60204811Red Springs300 South Main Street, Red Springs, NC 28377March 01, 1939Full Service Brick and Mortar
    61260053Ahoskie Branch506 East Main Street, Ahoskie, NC 27910July 21, 1986Full Service Brick and Mortar
    62233773Clinton Main Branch925 Sunset Avenue, Clinton, NC 28328November 01, 1999Full Service Brick and Mortar
    64208451Battleboro Branch301 W Battleboro Avenue, Battleboro, NC 27809September 20, 1948Full Service Brick and Mortar
    65208468Sharpsburg Branch3721 North Hathaway Blvd., Sharpsburg, NC 27878November 24, 1958Full Service Brick and Mortar
    67358909Greenville Main Branch2310 South Charles Boulevard, Greenville, NC 27858September 01, 2000Full Service Brick and Mortar
    6840669Rocky Mount Branch224 South Franklin Street, Rocky Mount, NC 27804January 01, 1912Full Service Brick and Mortar
    70223878Nashville Branch801 East Washington Street, Nashville, NC 27856July 30, 1991Full Service Brick and Mortar
    71364937Benvenue Branch1405 Benvenue Road, Rocky Mount, NC 27802January 14, 2002Full Service Brick and Mortar
    72208471Scotland Neck Branch810 South Main Street, Scotland Neck, NC 27874November 22, 1966Full Service Brick and Mortar
    74208461Norlina Branch139 Hyco Street, Norlina, NC 27563Febuary 01, 1966Full Service Brick and Mortar
    75429539Manteo BranchHighway 704 South 64/264, Manteo, NC 27954May 10, 2004Full Service Brick and Mortar
    776299Woodland Branch108 West Main Street, Woodland, NC 27897March 07, 1906Full Service Brick and Mortar
    78262322Seaboard Branch200 Main Street, Seaboard, NC 27876September 28, 1990Full Service Brick and Mortar
    79448904Kenansville Branch416 South Main Street, Kenansville, NC 28349Febuary 21, 2006Full Service Brick and Mortar
    80451748Red Oak Branch8315 Red Oak Boulevard, Red Oak, NC 27868May 09, 2006Full Service Brick and Mortar
    81457590Winterville Branch4259 Winterville Parkway, Winterville, NC 28590December 18, 2006Full Service Brick and Mortar
    82468182Oakwood Branch107 South Fairview Road, Rocky Mount, NC 27801September 10, 2007Full Service Brick and Mortar
    83476045Greenville Medical Center2275 Stantonsburg Road, Greenville, NC 27835May 27, 2008Full Service Brick and Mortar
  • 10 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    8414063Bank Of The Commonwealth BranchBoush And Freemason Streets, Norfolk, VA 23510April 14, 1971Full Service Brick and Mortar
    85250928First Colonial Road Branch1124 First Colonial Road, Virginia Beach, VA 23454March 19, 1975Full Service Brick and Mortar
    862509304100 Granby Street Branch4101 Granby Street, Norfolk, VA 23504September 24, 1979Full Service Brick and Mortar
    88250934Kempsville Branch1870 Kempsville Road, Virginia Beach, VA 23464July 01, 1996Full Service Brick and Mortar
    89361961Cedar Road Branch1217 Cedar Road, Chesapeake, VA 23322July 29, 2000Full Service Brick and Mortar
    91444603Western Branch3343 Western Branch Blvd, Chesapeake, VA 23321September 06, 2005Full Service Brick and Mortar
    94453029Virginia Beach Blvd Branch3720 Virginia Beach Blvd, Virginia Beach, VA 23452November 01, 2005Full Service Brick and Mortar
    99478531Greenbrier Branch1304 Greenbrier Pkwy, Chesapeake, VA 23320July 23, 2007Full Service Brick and Mortar
    102493118Suffolk Office Branch221 Western Ave, Suffolk, VA 23434November 12, 2008Full Service Brick and Mortar
    105525925Norfolk Branch403 Boush Street, Norfolk, VA 23510September 24, 2011Full Service Brick and Mortar

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