Surrey Bank & Trust in Mount Airy, North Carolina (NC), VA

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Surrey Bank & Trust
GeneralFDIC Certificate #: 34209
Status: Active
Federal Reserve ID: 2483120
Bank Holding Company (Regulatory Top Holder): Surrey Bancorp (RSSDID: 3163867, Location: Mount Airy, NC)
Date Established: July 22, 1996
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Domestic: 5, Interstate: Yes)
FDIC's unique #: 56967
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: July 22, 1996
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 145 North Renfro Street, Mount Airy, NC 27030
County: Surry
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
Combined Statistical Area (CSA): Greensboro-Winston-Salem-High Point, NC (#268)
Core Based Statistical Area (CBSA): Mount Airy, NC (#34340)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $224.7 mil
Equity capital: $30.2 mil
Deposits held in domestic offices: $184.5 mil
Return on assets (ROA): 1.02% ($2.3 mil)
Quarterly return on assets: 0.76% ($1.7 mil)
Return on Equity (ROE): 7.79% ($2.3 mil)
Quarterly return on equity: 5.74% ($1.7 mil)
Net income: $2.3 mil
Quarterly Net income: $0.4 mil
Pretax return on assets: 1.64% ($3,684.8 mil)
Quarterly Pretax return on assets: 1.20% ($2,696.2 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)66
Total assets$224,681
Cash and due from depository institutions$32,981
Interest-bearing balances$30,758
Federal funds sold & reverse repurchase agreements$710
Net loans & leases$175,446
Loan loss allowance $3,881
Trading account assets$0
Bank premises and fixed assets$4,520
Other real estate owned$551
Goodwill and other intangibles$120
All other assets$7,847
Life insurance assets$224,681
Total liabilities and capital$194,473
Total liabilities$184,487
Total deposits$153,317
Interest-bearing deposits$184,487
Deposits held in domestic offices$92
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$8,100
Other borrowed funds $0
Subordinated debt $1,886
All other liabilities $30,208
Total equity capital$30,208
Total bank equity capital$30,208
Perpetual preferred stock$0
Common stock$3,834
Undivided profits $18,975
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $4,445
Earning assets $174
Long-term assets (5+ years) $862
Average Assets, year-to-date $209,420
Average Assets, quarterly $33,336
Volatile liabilities $224,164
Insider loans $226,819
FHLB advances $165,756
Loans and leases held for sale $226,292
Unused loan commitments $3,390
Tier 1 (core) risk-based capital $3,390
Tier 2 risk-based capital $28,617
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $35,719
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $10,936
Total interest expense $2,119
Net interest income $8,817
Provision for loan and lease losses $744
Total noninterest income $2,504
Fiduciary activities $0
Service charges on deposit accounts $1,043
Trading account gains & fees $0
Additional noninterest income $1,461
Total noninterest expense $6,900
Salaries and employee benefits $3,550
Premises and equipment expense $589
Additional noninterest expense $2,761
Pre-tax net operating income $3,677
Securities gains (losses) $0
Applicable income taxes $1,389
Income before extraordinary items $2,288
Extraordinary gains - net $0
Net income attributable to bank $2,288
Net charge-offs $0
Cash dividends $2,288
Sale, conversion, retirement of capital stock, net $1,038
Net operating income $350
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.25%
Cost of funding earning assets 1.02%
Net interest margin 4.24%
Noninterest income to earning assets 1.20%
Noninterest expense to earning assets 3.31%
Net operating income to assets 1.02%
Return on assets (ROA) 1.02%
Pretax return on assets 1.64%
Return on equity (ROE) 7.79%
Retained earnings to average equity (YTD only) 6.60%
Net charge-offs to loans 0.58%
Credit loss provision to net charge-offs 71.68%
Efficiency ratio4.26%
Assets per employee$60,949
Cash dividends to net income (YTD only)3.40%
Condition Ratios (%)
Loss allowance to loans 15.30%
Loss allowance to noncurrent loans 2.16%
Noncurrent assets plus other real estate owned to assets 87.31%
Noncurrent loans to loans 2.22%
Net loans and leases to deposits2.48%
Net loans and leases to core deposits 95.10%
Equity capital to assets 108.93%
Core capital (leverage) ratio 13.44%
Tier 1 risk-based capital ratio 12.65%
Total risk-based capital ratio 17.26%
Average assets$19
Average earning assets$224,164
Average equity $29,380
Average loans $208,182
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4 North Carolina Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
056967Surrey Bank & Trust145 North Renfro Street, Mount Airy, NC 27030July 22, 1996Full Service Brick and Mortar
1290470Pine Branch1280 West Pine Street, Mount Airy, NC 27030November 23, 1998Full Service Brick and Mortar
3419350Rockford Street Branch2050 Rockford Street, Mount Airy, NC 27030June 05, 2003Full Service Brick and Mortar
4429519Pilot Mountain Branch653 South Key Street, Pilot Mountain, NC 27041December 03, 2003Full Service Brick and Mortar
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1 Virginia Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
2360707Stuart BranchWoodland Dr, Stuart, VA 24171December 28, 2000Full Service Brick and Mortar
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