The Bank of Iredell in Statesville, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of September 01, 1994

The Bank of Iredell in Statesville, North Carolina (NC)
Show street view No street view available for this location

The Bank of Iredell - Overview

General
FDIC Certificate #: 24506
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: United Carolina Bank (#2026)
Federal Reserve ID: 580324
Date Established: June 08, 1983
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Interstate: No)
OTS Docket #: 10591
FDIC's unique #: 17033
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: June 08, 1983
Last Structure Change Effective Date: September 01, 1994
Last Structure Change Process Date: September 16, 1994
Last Data Update: September 16, 1994
Data Source Date: April 05, 2012
Location
Address: 325 East Front Street, Statesville, NC 28677
County: Iredell
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): Charlotte-Gastonia-Salisbury, NC-SC (#172)
Core Based Statistical Area (CBSA): Statesville-Mooresville, NC (#44380)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $88.7 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)

Dollar figures in thousands
0Total employees (full-time equivalent)
$46Total assets
$83,142Cash and due from depository institutions
$5,790Interest-bearing balances
$1,100Securities
$9,753Federal funds sold & reverse repurchase agreements
$4,975Net loans & leases
$58,874Loan loss allowance
$804Trading account assets
$0Bank premises and fixed assets
$2,141Other real estate owned
$125Goodwill and other intangibles
$1,484Life insurance assets
$0All other assets
$0Total liabilities and capital
$83,142Total liabilities
$76,226Total deposits
$74,888Interest-bearing deposits
$64,674Deposits held in domestic offices
74888.00%% insured (estimated)
$92Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$1,000Subordinated debt
$0All other liabilities
$338Total equity capital
$338Total bank equity capital
$6,916Perpetual preferred stock
$0Common stock
$1,910Surplus
$2,627Undivided profits
Memoranda
$2,379Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$104Income earned, not collected on loans
$291Earning assets
$74,702Long-term assets (5+ years)
$11,916Average Assets, year-to-date
$73,640Average Assets, quarterly
$81,221Volatile liabilities
$8,037Insider loans
$2,048FHLB advances
$0Loans and leases held for sale
$0Unused loan commitments
$8,768Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$6,916Total risk weighted assets
$64,303Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1993)

Dollar figures in thousands
$0Total interest income
$5,232Total interest expense
$1,920Net interest income
$3,312Provision for loan and lease losses
$143Total noninterest income
$1,097Fiduciary activities
$0Service charges on deposit accounts
$525Trading account gains & fees
$0Additional noninterest income
$572Total noninterest expense
$2,980Salaries and employee benefits
$1,291Premises and equipment expense
$342Additional noninterest expense
$1,347Pre-tax net operating income
$1,286Securities gains (losses)
$54Applicable income taxes
$446Income before extraordinary items
$894Extraordinary gains - net
-$12Net income attributable to bank
$882Net charge-offs
$20Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1993)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
7.94%Cost of funding earning assets
2.91%Net interest margin
5.02%Noninterest income to earning assets
1.66%Noninterest expense to earning assets
4.52%Net operating income to assets
1.16%Return on assets (ROA)
1.20%Pretax return on assets
1.80%Return on equity (ROE)
13.69%Retained earnings to average equity (YTD only)
13.69%Net charge-offs to loans
0.04%Credit loss provision to net charge-offs
715.00%Efficiency ratio
67,589Assets per employee
1.81%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.35%Loss allowance to noncurrent loans
773.08%Noncurrent assets plus other real estate owned to assets
0.28%Noncurrent loans to loans
0.17%Net loans and leases to deposits
78.62%Net loans and leases to core deposits
86.77%Equity capital to assets
8.32%Core capital (leverage) ratio
8.56%Tier 1 risk-based capital ratio
10.76%Total risk-based capital ratio
Memoranda
$12Average assets
$73,640Average earning assets
$6,444Average equity
$65,919Average loans

Comment about this bank, ask questions, or add new information about it:

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with The Bank of Iredell.
Based on public records. Inadvertent errors are possible.
bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.