FDIC Certificate #: 33003 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:First Citizens Bank and Trust Company, Inc. (#15504) Federal Reserve ID: 1460290 Date Established: July 05, 1990 WWW:http://www.summit-bank.com Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 6 (Interstate: No) OTS Docket #: 11382 FDIC's unique #: 46184 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes Insured commercial Banks: Yes FDIC Insured: Yes State Chartered: No Date of Deposit Insurance: July 05, 1990 Last Structure Change Effective Date: July 01, 2005 Last Structure Change Process Date: July 19, 2005 Last Data Update: July 19, 2005 Data Source Date: April 05, 2012
Location
Address: 937 North Pleasantburg Drive, Greenville, SC 29607 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 Summary
Total assets: $351.7 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2004)
Dollar figures in thousands
63Total employees (full-time equivalent)
$317,843Total assets
$6,667Cash and due from depository institutions
$147Interest-bearing balances
$59,838Securities
$218Federal funds sold & reverse repurchase agreements
$236,154Net loans & leases
$3,429Loan loss allowance
$0Trading account assets
$4,786Bank premises and fixed assets
$217Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$9,963All other assets
$317,843Total liabilities and capital
$286,782Total liabilities
$234,949Total deposits
$194,821Interest-bearing deposits
$234,949Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$50,134Other borrowed funds
$0Subordinated debt
$1,699All other liabilities
$31,061Total equity capital
$31,061Total bank equity capital
$31,061Perpetual preferred stock
$0Common stock
$4,250Surplus
$4,250Undivided profits
Memoranda
$22,561Noncurrent loans and leases
$63,285Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$546Earning assets
$0Long-term assets (5+ years)
$1,430Average Assets, year-to-date
$296,357Average Assets, quarterly
$58,874Volatile liabilities
$329,336Insider loans
$318,892FHLB advances
$44,175Loans and leases held for sale
$6,865Unused loan commitments
$50,134Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$63,285Total unused commitments
$0Restructured Loans and leases
$3,282Derivatives
Income and Expense (December 31, 2004)
Dollar figures in thousands
$15,851Total interest income
$4,591Total interest expense
$11,260Net interest income
$135Provision for loan and lease losses
$1,872Total noninterest income
$0Fiduciary activities
$480Service charges on deposit accounts
$0Trading account gains & fees
$1,392Additional noninterest income
$6,975Total noninterest expense
$4,553Salaries and employee benefits
$1,088Premises and equipment expense
$1,334Additional noninterest expense
$6,022Pre-tax net operating income
$83Securities gains (losses)
$1,851Applicable income taxes
$4,254Income before extraordinary items
$0Extraordinary gains - net
$4,254Net income attributable to bank
$0Net charge-offs
$0Cash dividends
-$86Sale, conversion, retirement of capital stock, net
$646Net operating income
Performance and Condition Ratios (December 31, 2004)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.18%Yield on earning assets
1.50%Cost of funding earning assets
3.68%Net interest margin
0.61%Noninterest income to earning assets
2.28%Noninterest expense to earning assets
1.27%Net operating income to assets
1.29%Return on assets (ROA)
1.85%Pretax return on assets
14.56%Return on equity (ROE)
12.35%Retained earnings to average equity (YTD only)
-0.04%Net charge-offs to loans
-156.98%Credit loss provision to net charge-offs
0.00%Efficiency ratio
53,115Assets per employee
5.05%Cash dividends to net income (YTD only)
Condition Ratios (%)
15.19%Loss allowance to loans
1.43%Loss allowance to noncurrent loans
628.02%Noncurrent assets plus other real estate owned to assets
0.24%Noncurrent loans to loans
0.23%Net loans and leases to deposits
100.51%Net loans and leases to core deposits
120.47%Equity capital to assets
9.77%Core capital (leverage) ratio
9.79%Tier 1 risk-based capital ratio
11.80%Total risk-based capital ratio
Memoranda
$13Average assets
$329,336Average earning assets
$29,221Average equity
$306,091Average loans
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