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



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Southern Bank and Trust Company
GeneralFDIC 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
LocationAddress: 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 ChangesParticipated in FDIC Assisted Absorption/Consolidation/Merger
Financial SummaryTotal 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)
Total employees (full-time equivalent)519
Total assets$2,039,843
Cash and due from depository institutions$222,779
Interest-bearing balances$175,663
Securities$344,065
Federal funds sold & reverse repurchase agreements$732
Net loans & leases$1,205,885
Loan loss allowance $14,612
Trading account assets$0
Bank premises and fixed assets$48,716
Other real estate owned$13,779
Goodwill and other intangibles$11,027
All other assets$192,860
Life insurance assets$2,039,843
Total liabilities and capital$1,847,099
Total liabilities$1,658,465
Total deposits$1,341,168
Interest-bearing deposits$1,658,465
Deposits held in domestic offices$87
% insured (estimated)78891.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$57,118
Other borrowed funds $0
Subordinated debt $52,625
All other liabilities $192,744
Total equity capital$192,453
Total bank equity capital$192,453
Perpetual preferred stock$0
Common stock$832
Surplus$70,013
Undivided profits $121,608
Memoranda
Noncurrent loans and leases $291
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $3,813
Income earned, not collected on loans $132,045
Earning assets $0
Long-term assets (5+ years) $10,736
Average Assets, year-to-date $1,726,345
Average Assets, quarterly $380,466
Volatile liabilities $1,620,962
Insider loans $2,041,835
FHLB advances $1,121,879
Loans and leases held for sale $2,023,852
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $174,805
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $237,601
Derivatives$254
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $59,020
Total interest expense $10,299
Net interest income $48,721
Provision for loan and lease losses $7,480
Total noninterest income $72,123
Fiduciary activities $110
Service charges on deposit accounts $6,240
Trading account gains & fees $0
Additional noninterest income $65,773
Total noninterest expense $50,530
Salaries and employee benefits $27,763
Premises and equipment expense $8,135
Additional noninterest expense $14,632
Pre-tax net operating income $62,834
Securities gains (losses) -$329
Applicable income taxes $24,140
Income before extraordinary items $38,365
Extraordinary gains - net $0
Net income attributable to bank $38,365
Net charge-offs $0
Cash dividends $38,365
Sale, conversion, retirement of capital stock, net $4,096
Net operating income $2,975
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.09%
Cost of funding earning assets 0.71%
Net interest margin 3.38%
Noninterest income to earning assets 5.00%
Noninterest expense to earning assets 3.50%
Net operating income to assets 2.38%
Return on assets (ROA) 2.37%
Pretax return on assets 3.86%
Return on equity (ROE) 25.44%
Retained earnings to average equity (YTD only) 23.46%
Net charge-offs to loans 0.44%
Credit loss provision to net charge-offs 182.62%
Efficiency ratio17.17%
Assets per employee$41,518
Cash dividends to net income (YTD only)3.93%
Condition Ratios (%)
Loss allowance to loans 7.75%
Loss allowance to noncurrent loans 1.20%
Noncurrent assets plus other real estate owned to assets 11.07%
Noncurrent loans to loans 7.15%
Net loans and leases to deposits10.82%
Net loans and leases to core deposits 72.71%
Equity capital to assets 76.69%
Core capital (leverage) ratio 9.43%
Tier 1 risk-based capital ratio 8.64%
Total risk-based capital ratio 15.58%
Memoranda
Average assets$17
Average earning assets$1,620,962
Average equity $150,827
Average loans $1,441,855
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$26,246
Number of Accounts1
Personal trust and agency accounts$26,246
Employee benefit-defined contribution accounts$25,040
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$0
Other fiduciary accounts$1,206
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts94
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
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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
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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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