Southern National Bank of South Carolina in Greenville, South Carolina (SC)



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Southern National Bank of South Carolina
GeneralFDIC Certificate #: 18847
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Branch Banking and Trust Company of South Carolina (#21098)
Federal Reserve ID: 875628
Date Established: August 05, 1963
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 81 (Interstate: No)
OTS Docket #: 11624
FDIC's unique #: 12703
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: August 05, 1963
Last Structure Change Effective Date: May 30, 1995
Last Structure Change Process Date: June 15, 1995
Last Data Update: June 15, 1995
Data Source Date: April 05, 2012
LocationAddress: 301 College Street, Greenville, SC 29601
County: Greenville
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Columbia Sc
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Greenville-Spartanburg-Anderson, SC (#3160)
Combined Statistical Area (CSA): Greenville-Spartanburg-Anderson, SC (#273)
Core Based Statistical Area (CBSA): Greenville-Mauldin-Easley, SC (#24860)
CBSA Metro Statistical Area: Greenville-Mauldin-Easley, SC (#24860)
Financial SummaryTotal assets: $2,899.6 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$984
Cash and due from depository institutions$2,838,003
Interest-bearing balances$90,754
Securities$189
Federal funds sold & reverse repurchase agreements$770,438
Net loans & leases$0
Loan loss allowance $1,877,376
Trading account assets$30,504
Bank premises and fixed assets$0
Other real estate owned$44,643
Goodwill and other intangibles$1,041
All other assets$5,429
Life insurance assets$48,322
Total liabilities and capital$0
Total liabilities$2,838,003
Total deposits$2,636,553
Interest-bearing deposits$1,938,813
Deposits held in domestic offices$1,686,203
% insured (estimated)1938813.00%
Federal funds purchased & repurchase agreements $90
Trading liabilities$541,357
Other borrowed funds $0
Subordinated debt $137,826
All other liabilities $0
Total equity capital$18,557
Total bank equity capital$18,557
Perpetual preferred stock$201,450
Common stock$0
Surplus$25,910
Undivided profits $148,710
Memoranda
Noncurrent loans and leases $26,830
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $13,251
Earning assets $10,640
Long-term assets (5+ years) $2,648,003
Average Assets, year-to-date $570,907
Average Assets, quarterly $2,312,690
Volatile liabilities $2,799,823
Insider loans $750,851
FHLB advances $7,059
Loans and leases held for sale $0
Unused loan commitments $21,764
Tier 1 (core) risk-based capital $346,642
Tier 2 risk-based capital $0
Total risk weighted assets $202,191
Total unused commitments $1,703,945
Restructured Loans and leases $0
Derivatives$3,000
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Income and Expense (December 31, 1994)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $193,072
Net interest income $89,422
Provision for loan and lease losses $103,650
Total noninterest income $4,062
Fiduciary activities $29,309
Service charges on deposit accounts $425
Trading account gains & fees $13,241
Additional noninterest income $0
Total noninterest expense $15,643
Salaries and employee benefits $78,151
Premises and equipment expense $30,496
Additional noninterest expense $9,178
Pre-tax net operating income $38,477
Securities gains (losses) $50,746
Applicable income taxes $382
Income before extraordinary items $19,438
Extraordinary gains - net $31,690
Net income attributable to bank $0
Net charge-offs $31,690
Cash dividends $3,538
Sale, conversion, retirement of capital stock, net $477
Net operating income $118,745
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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 8.94%
Net interest margin 4.14%
Noninterest income to earning assets 4.80%
Noninterest expense to earning assets 1.36%
Net operating income to assets 3.62%
Return on assets (ROA) 1.36%
Pretax return on assets 1.37%
Return on equity (ROE) 2.21%
Retained earnings to average equity (YTD only) 20.15%
Net charge-offs to loans 19.85%
Credit loss provision to net charge-offs 0.23%
Efficiency ratio114.81%
Assets per employee$58,398
Cash dividends to net income (YTD only)2.88%
Condition Ratios (%)
Loss allowance to loans 1.51%
Loss allowance to noncurrent loans 1.60%
Noncurrent assets plus other real estate owned to assets 230.20%
Noncurrent loans to loans 0.50%
Net loans and leases to deposits0.69%
Net loans and leases to core deposits 96.83%
Equity capital to assets 106.40%
Core capital (leverage) ratio 7.10%
Tier 1 risk-based capital ratio 7.32%
Total risk-based capital ratio 11.87%
Memoranda
Average assets$13
Average earning assets$2,312,690
Average equity $157,272
Average loans $2,159,814
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