Southern National Bank of North Carolina in Lumberton, North Carolina (NC)



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Southern National Bank of North Carolina
GeneralFDIC Certificate #: 4899
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Branch Banking and Trust Company (#9846)
Federal Reserve ID: 438322
Date Established: January 01, 1897
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 145 (Interstate: No)
OTS Docket #: 10200
FDIC's unique #: 3255
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
Oakar Institutions: Yes
State Chartered: No
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: May 27, 1995
Last Structure Change Process Date: June 16, 1995
Last Data Update: June 16, 1995
Data Source Date: April 05, 2012
LocationAddress: 500 North Chestnut Street, Lumberton, NC 28358
County: Robeson
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
Combined Statistical Area (CSA): Lumberton-Laurinburg, NC (#354)
Core Based Statistical Area (CBSA): Lumberton, NC (#31300)
CBSA Micro Statistical Area: Yes
Financial SummaryTotal assets: $5,652.6 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1994)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$2,460
Cash and due from depository institutions$5,746,319
Interest-bearing balances$179,946
Securities$496
Federal funds sold & reverse repurchase agreements$1,874,252
Net loans & leases$233,419
Loan loss allowance $3,261,851
Trading account assets$37,751
Bank premises and fixed assets$0
Other real estate owned$109,338
Goodwill and other intangibles$886
All other assets$4,448
Life insurance assets$82,179
Total liabilities and capital$0
Total liabilities$5,746,319
Total deposits$5,387,986
Interest-bearing deposits$4,043,761
Deposits held in domestic offices$3,507,784
% insured (estimated)4043761.00%
Federal funds purchased & repurchase agreements $79
Trading liabilities$1,145,502
Other borrowed funds $0
Subordinated debt $136,089
All other liabilities $0
Total equity capital$62,634
Total bank equity capital$62,634
Perpetual preferred stock$358,333
Common stock$0
Surplus$25,304
Undivided profits $151,741
Memoranda
Noncurrent loans and leases $181,288
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $8,382
Earning assets $16,874
Long-term assets (5+ years) $5,370,018
Average Assets, year-to-date $1,007,602
Average Assets, quarterly $5,460,058
Volatile liabilities $5,696,119
Insider loans $1,759,919
FHLB advances $36,717
Loans and leases held for sale $0
Unused loan commitments $0
Tier 1 (core) risk-based capital $760,967
Tier 2 risk-based capital $0
Total risk weighted assets $376,507
Total unused commitments $3,179,916
Restructured Loans and leases $0
Derivatives$614,123
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Income and Expense (December 31, 1994)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $367,814
Net interest income $161,342
Provision for loan and lease losses $206,472
Total noninterest income $2,057
Fiduciary activities $57,734
Service charges on deposit accounts $3,064
Trading account gains & fees $21,510
Additional noninterest income $874
Total noninterest expense $32,286
Salaries and employee benefits $155,386
Premises and equipment expense $84,579
Additional noninterest expense $27,438
Pre-tax net operating income $43,369
Securities gains (losses) $106,763
Applicable income taxes $445
Income before extraordinary items $34,721
Extraordinary gains - net $72,487
Net income attributable to bank $0
Net charge-offs $72,487
Cash dividends $3,347
Sale, conversion, retirement of capital stock, net $49,596
Net operating income $2,165
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Performance and Condition Ratios (December 31, 1994)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 7.25%
Net interest margin 3.18%
Noninterest income to earning assets 4.07%
Noninterest expense to earning assets 1.14%
Net operating income to assets 3.06%
Return on assets (ROA) 1.32%
Pretax return on assets 1.33%
Return on equity (ROE) 1.96%
Retained earnings to average equity (YTD only) 19.86%
Net charge-offs to loans 6.27%
Credit loss provision to net charge-offs 0.11%
Efficiency ratio61.46%
Assets per employee$58,415
Cash dividends to net income (YTD only)2.34%
Condition Ratios (%)
Loss allowance to loans 68.42%
Loss allowance to noncurrent loans 1.14%
Noncurrent assets plus other real estate owned to assets 450.38%
Noncurrent loans to loans 0.16%
Net loans and leases to deposits0.25%
Net loans and leases to core deposits 80.66%
Equity capital to assets 93.75%
Core capital (leverage) ratio 6.24%
Tier 1 risk-based capital ratio 6.70%
Total risk-based capital ratio 11.84%
Memoranda
Average assets$13
Average earning assets$5,460,058
Average equity $365,045
Average loans $5,075,552
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