Southern Community Bank and Trust in Winston Salem, North Carolina (NC)
| Southern Community Bank and Trust | |
|---|---|
| General | FDIC Certificate #: 34321 Status: Active Federal Reserve ID: 2514547 Bank Holding Company (Regulatory Top Holder): Southern Community Financial Corporation (RSSDID: 2981831, Location: Winston-Salem, NC) Date Established: November 18, 1996 WWW: http://www.smallenoughtocare.com Trust Powers Granted: Yes Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 22 (Domestic: 22, Interstate: No) OTS Docket #: 15370 FDIC's unique #: 57080 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: November 18, 1996 Last Structure Change Effective Date: November 17, 2006 Last Structure Change Process Date: Febuary 23, 2007 Last Data Update: Febuary 23, 2007 Data Source Date: April 05, 2012 |
| Location | Address: 4701 Country Club Road, Winston Salem, NC 27104 County: Forsyth Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Charlotte Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Southeast Metropolitan Statistical Area (MSA): Greensboro--Winston-Salem--High Point, NC (#3120) Combined Statistical Area (CSA): Greensboro-Winston-Salem-High Point, NC (#268) Core Based Statistical Area (CBSA): Winston-Salem, NC (#49180) CBSA Metro Statistical Area: Winston-Salem, NC (#49180) |
| History of Changes | Change in Primary Regulatory Agency Change in Supervisory Agency Institution Withdraws from FRS (Federal Reserve System) |
| Financial Summary | Total assets: $1,499.7 mil Equity capital: $138.7 mil Deposits held in domestic offices: $1,188.8 mil Return on assets (ROA): 0.38% ($5.7 mil) Quarterly return on assets: 0.50% ($7.5 mil) Return on Equity (ROE): 4.48% ($6.2 mil) Quarterly return on equity: 5.49% ($7.6 mil) Net income: $6.0 mil Quarterly Net income: $1.9 mil Pretax return on assets: 0.38% ($5,699.0 mil) Quarterly Pretax return on assets: 0.50% ($7,498.7 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 290 |
| Total assets | $1,499,735 |
| Cash and due from depository institutions | $45,981 |
| Interest-bearing balances | $22,625 |
| Securities | $406,701 |
| Federal funds sold & reverse repurchase agreements | $573 |
| Net loans & leases | $930,316 |
| Loan loss allowance | $24,165 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $37,552 |
| Other real estate owned | $19,812 |
| Goodwill and other intangibles | $454 |
| All other assets | $58,346 |
| Life insurance assets | $1,499,735 |
| Total liabilities and capital | $1,361,044 |
| Total liabilities | $1,188,775 |
| Total deposits | $1,053,340 |
| Interest-bearing deposits | $1,188,775 |
| Deposits held in domestic offices | $92 |
| % insured (estimated) | 88629.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $76,637 |
| Other borrowed funds | $0 |
| Subordinated debt | $7,003 |
| All other liabilities | $138,691 |
| Total equity capital | $138,691 |
| Total bank equity capital | $138,691 |
| Perpetual preferred stock | $0 |
| Common stock | $19,896 |
| Surplus | $131,639 |
| Undivided profits | $-12,844 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $4,459 |
| Income earned, not collected on loans | $68,048 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $5,843 |
| Average Assets, year-to-date | $1,360,215 |
| Average Assets, quarterly | $373,496 |
| Volatile liabilities | $1,570,370 |
| Insider loans | $1,521,605 |
| FHLB advances | $1,092,307 |
| Loans and leases held for sale | $1,517,014 |
| Unused loan commitments | $31,346 |
| Tier 1 (core) risk-based capital | $15,958 |
| Tier 2 risk-based capital | $137,552 |
| Total risk weighted assets | $15,388 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $220,159 |
| Derivatives | $18,994 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $70,637 |
| Total interest expense | $18,390 |
| Net interest income | $52,247 |
| Provision for loan and lease losses | $15,150 |
| Total noninterest income | $7,965 |
| Fiduciary activities | $317 |
| Service charges on deposit accounts | $3,900 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $3,748 |
| Total noninterest expense | $42,493 |
| Salaries and employee benefits | $18,162 |
| Premises and equipment expense | $5,536 |
| Additional noninterest expense | $18,795 |
| Pre-tax net operating income | $2,569 |
| Securities gains (losses) | $3,453 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $6,022 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $6,022 |
| Net charge-offs | $0 |
| Cash dividends | $6,022 |
| Sale, conversion, retirement of capital stock, net | $20,565 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.95% |
| Cost of funding earning assets | 1.29% |
| Net interest margin | 3.66% |
| Noninterest income to earning assets | 0.56% |
| Noninterest expense to earning assets | 2.98% |
| Net operating income to assets | 0.16% |
| Return on assets (ROA) | 0.38% |
| Pretax return on assets | 0.38% |
| Return on equity (ROE) | 4.48% |
| Retained earnings to average equity (YTD only) | 4.48% |
| Net charge-offs to loans | 1.97% |
| Credit loss provision to net charge-offs | 73.67% |
| Efficiency ratio | 0.86% |
| Assets per employee | $70,210 |
| Cash dividends to net income (YTD only) | 5.17% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 2.53% |
| Noncurrent assets plus other real estate owned to assets | 35.51% |
| Noncurrent loans to loans | 5.86% |
| Net loans and leases to deposits | 7.13% |
| Net loans and leases to core deposits | 78.26% |
| Equity capital to assets | 94.40% |
| Core capital (leverage) ratio | 9.25% |
| Tier 1 risk-based capital ratio | 9.07% |
| Total risk-based capital ratio | 12.59% |
| Memoranda | |
| Average assets | $14 |
| Average earning assets | $1,570,370 |
| Average equity | $134,326 |
| Average loans | $1,426,027 |
| 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 Accounts | 1 |
| Fiduciary powers granted | Yes |
| Fiduciary or related activity | Yes |
| Managed Assets | $35,851 |
| Number of Accounts | 1 |
| Personal trust and agency accounts | $35,851 |
| Employee benefit-defined contribution accounts | $30,121 |
| Employee benefit-defined benefit accounts | $2,604 |
| Other retirement accounts | $0 |
| Corporate trust and agency accounts | $1,133 |
| Investment management agency accounts | $0 |
| Other fiduciary accounts | $1,993 |
| Fiduciary accounts held in foreign offices | $0 |
| Non-managed Assets | $0 |
| Number of Accounts | 39 |
| Personal trust and agency accounts | $0 |
| Employee benefit-defined contribution accounts | $1,133 |
| 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 |
| 22 North Carolina Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 57080 | Southern Community Bank And Trust | 4701 Country Club Road, Winston Salem, NC 27104 | November 18, 1996 | Full Service Brick and Mortar |  |
| 2 | 290536 | Yadkin County Branch | 532 East Main Street, Yadkinville, NC 27055 | April 13, 1998 | Full Service Brick and Mortar |  |
| 3 | 290537 | South Stratford Branch | 500 South Stratford Road, Winston Salem, NC 27103 | November 02, 1998 | Full Service Brick and Mortar | |
| 4 | 290538 | South Park Branch | 3151 Peters Creek Parkway, Winston-Salem, NC 27127 | November 09, 1998 | Full Service Brick and Mortar | |
| 6 | 290540 | University Parkway Branch | 225 Hanes Mill Road, Winston Salem, NC 27105 | October 25, 1999 | Full Service Brick and Mortar | |
| 9 | 363676 | South Main Street Branch | 1207 South Main Street, Kernersville, NC 27284 | March 11, 2002 | Full Service Brick and Mortar | |
| 10 | 365217 | High Point Branch | 2541 Eastchester Drive, High Point, NC 27265 | May 20, 2002 | Full Service Brick and Mortar | |
| 11 | 36307 | Pilot Mountain Branch | 616 South Key Street, Pilot Mountain, NC 27041 | March 23, 1987 | Full Service Brick and Mortar | |
| 12 | 260482 | Mount Airy Community Dr. Branch | 2010 Community Drive, Mount Airy, NC 27030 | March 30, 1988 | Full Service Brick and Mortar | |
| 13 | 260483 | Sandy Ridge Branch | 4928 Highway 704 West, Sandy Ridge, NC 27046 | March 06, 1989 | Full Service Brick and Mortar | |
| 14 | 260484 | Madison Branch | 619 Ayersville Road, Madison, NC 27025 | May 07, 1990 | Full Service Brick and Mortar | |
| 15 | 260485 | Union Grove Branch | 1439 West Memorial Highway, Union Grove, NC 28689 | September 29, 1990 | Full Service Brick and Mortar | |
| 16 | 267041 | Dobson Branch | 201 West Kapp Street, Dobson, NC 27017 | January 01, 1908 | Full Service Brick and Mortar | |
| 17 | 260486 | Downtown Mount Airy Branch | 255 East Independence Boulevard, Mount Airy, NC 27030 | December 06, 1995 | Full Service Brick and Mortar | |
| 18 | 260487 | King Branch | 105 Post Office Street, King, NC 27021 | Febuary 13, 1998 | Full Service Brick and Mortar | |
| 19 | 260488 | Walnut Cove Office | 1072 North Main Street, Walnut Cove, NC 27052 | June 21, 1999 | Full Service Brick and Mortar | |
| 20 | 260490 | Jonesville Branch | 503 Winston Road, Jonesville, NC 28642 | August 03, 1999 | Full Service Brick and Mortar | |
| 21 | 437060 | Clemmons Branch | 6290 Towncenter Drive, Clemmons, NC 27012 | November 08, 2004 | Full Service Brick and Mortar | |
| 22 | 447405 | Greensboro Branch | 1505 Highwoods Boulevard, Greensboro, NC 27410 | December 14, 2005 | Full Service Brick and Mortar | |
| 23 | 453172 | Raleigh Branch | 3100 Edwards Mill Road, Raleigh, NC 27608 | Febuary 01, 2006 | Full Service Brick and Mortar | |
| 24 | 461349 | Asheville Branch | 1751 Hendersonville Road, Asheville, NC 28803 | March 01, 2007 | Full Service Brick and Mortar | |
| 25 | 466275 | Mooresville Branch | 210 Knob Hill Road, Mooresville, NC 28117 | October 15, 2006 | Full Service Brick and Mortar | |
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