Southern Community Bank and Trust in Winston Salem, North Carolina (NC)



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Southern Community Bank and Trust
GeneralFDIC 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
LocationAddress: 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 ChangesChange in Primary Regulatory Agency
Change in Supervisory Agency
Institution Withdraws from FRS (Federal Reserve System)
Financial SummaryTotal 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)

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)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
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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
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.95%
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 ratio0.86%
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 deposits7.13%
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
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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$35,851
Number of Accounts1
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 Accounts39
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
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22 North Carolina Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
057080Southern Community Bank And Trust4701 Country Club Road, Winston Salem, NC 27104November 18, 1996Full Service Brick and Mortar
2290536Yadkin County Branch532 East Main Street, Yadkinville, NC 27055April 13, 1998Full Service Brick and Mortar
3290537South Stratford Branch500 South Stratford Road, Winston Salem, NC 27103November 02, 1998Full Service Brick and Mortar
4290538South Park Branch3151 Peters Creek Parkway, Winston-Salem, NC 27127November 09, 1998Full Service Brick and Mortar
6290540University Parkway Branch225 Hanes Mill Road, Winston Salem, NC 27105October 25, 1999Full Service Brick and Mortar
9363676South Main Street Branch1207 South Main Street, Kernersville, NC 27284March 11, 2002Full Service Brick and Mortar
10365217High Point Branch2541 Eastchester Drive, High Point, NC 27265May 20, 2002Full Service Brick and Mortar
1136307Pilot Mountain Branch616 South Key Street, Pilot Mountain, NC 27041March 23, 1987Full Service Brick and Mortar
12260482Mount Airy Community Dr. Branch2010 Community Drive, Mount Airy, NC 27030March 30, 1988Full Service Brick and Mortar
13260483Sandy Ridge Branch4928 Highway 704 West, Sandy Ridge, NC 27046March 06, 1989Full Service Brick and Mortar
14260484Madison Branch619 Ayersville Road, Madison, NC 27025May 07, 1990Full Service Brick and Mortar
15260485Union Grove Branch1439 West Memorial Highway, Union Grove, NC 28689September 29, 1990Full Service Brick and Mortar
16267041Dobson Branch201 West Kapp Street, Dobson, NC 27017January 01, 1908Full Service Brick and Mortar
17260486Downtown Mount Airy Branch255 East Independence Boulevard, Mount Airy, NC 27030December 06, 1995Full Service Brick and Mortar
18260487King Branch105 Post Office Street, King, NC 27021Febuary 13, 1998Full Service Brick and Mortar
19260488Walnut Cove Office1072 North Main Street, Walnut Cove, NC 27052June 21, 1999Full Service Brick and Mortar
20260490Jonesville Branch503 Winston Road, Jonesville, NC 28642August 03, 1999Full Service Brick and Mortar
21437060Clemmons Branch6290 Towncenter Drive, Clemmons, NC 27012November 08, 2004Full Service Brick and Mortar
22447405Greensboro Branch1505 Highwoods Boulevard, Greensboro, NC 27410December 14, 2005Full Service Brick and Mortar
23453172Raleigh Branch3100 Edwards Mill Road, Raleigh, NC 27608Febuary 01, 2006Full Service Brick and Mortar
24461349Asheville Branch1751 Hendersonville Road, Asheville, NC 28803March 01, 2007Full Service Brick and Mortar
25466275Mooresville Branch210 Knob Hill Road, Mooresville, NC 28117October 15, 2006Full Service Brick and Mortar
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