The Bank of Sharon in Chattanooga, Tennessee (TN)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of January 27, 2003

  • The Bank of Sharon in Chattanooga, Tennessee (TN)
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The Bank of Sharon - Overview

  • General
  • FDIC Certificate #: 2374
    Status: Inactive
    Acquiring institution: Northwest Georgia Bank (#9246)
    Federal Reserve ID: 529453
    Date Established: December 01, 1902
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 5 (Interstate: No)
    OTS Docket #: 9063
    FDIC's unique #: 1561
    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: January 01, 1934
    Last Structure Change Effective Date: January 27, 2003
    Last Structure Change Process Date: March 03, 2003
    Last Data Update: March 03, 2003
    Data Source Date: April 05, 2012
  • Location
  • Address: 7201 Shallowford Road, Chattanooga, TN 37421
    County: Hamilton
    Quarterly Banking Profile Region: Dallas
    FDIC Geographic Region: Dallas
    FDIC Supervisory Region: Dallas
    FDIC Field Office: Nashville
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Chattanooga, TN-GA (#1560)
    Combined Statistical Area (CSA): Chattanooga-Cleveland-Athens, TN-GA (#174)
    Core Based Statistical Area (CBSA): Chattanooga, TN-GA (#16860)
    CBSA Metro Statistical Area: Chattanooga, TN-GA (#16860)
  • History of Changes
  • Merger - Without Assistance
    Change in Location
  • Financial Summary
  • Total assets: $143.8 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, 2002)

  • Dollar figures in thousands
  • 38Total employees (full-time equivalent)
  • $143,822Total assets
  • $3,169Cash and due from depository institutions
  • $260Interest-bearing balances
  • $21,477Securities
  • $2,117Federal funds sold & reverse repurchase agreements
  • $100,287Net loans & leases
  • $1,013Loan loss allowance
  • $0Trading account assets
  • $2,730Bank premises and fixed assets
  • $539Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $13,503All other assets
  • $143,822Total liabilities and capital
  • $130,826Total liabilities
  • $117,626Total deposits
  • $111,320Interest-bearing deposits
  • $117,626Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $12,397Other borrowed funds
  • $0Subordinated debt
  • $803All other liabilities
  • $12,996Total equity capital
  • $12,996Total bank equity capital
  • $12,996Perpetual preferred stock
  • $0Common stock
  • $190Surplus
  • $3,601Undivided profits
  • Memoranda
  • $9,205Noncurrent loans and leases
  • $29,894Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $76Earning assets
  • $0Long-term assets (5+ years)
  • $812Average Assets, year-to-date
  • $124,141Average Assets, quarterly
  • $36,403Volatile liabilities
  • $143,642Insider loans
  • $143,430FHLB advances
  • $38,126Loans and leases held for sale
  • $4,265Unused loan commitments
  • $12,296Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $29,894Total unused commitments
  • $0Restructured Loans and leases
  • $1,013Derivatives

Income and Expense (December 31, 2002)

  • Dollar figures in thousands
  • $8,116Total interest income
  • $4,056Total interest expense
  • $4,060Net interest income
  • $236Provision for loan and lease losses
  • $1,260Total noninterest income
  • $20Fiduciary activities
  • $438Service charges on deposit accounts
  • $0Trading account gains & fees
  • $802Additional noninterest income
  • $3,833Total noninterest expense
  • $1,888Salaries and employee benefits
  • $554Premises and equipment expense
  • $1,391Additional noninterest expense
  • $1,251Pre-tax net operating income
  • $164Securities gains (losses)
  • $404Applicable income taxes
  • $1,011Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,011Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $28Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2002)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.74%Yield on earning assets
  • 3.37%Cost of funding earning assets
  • 3.37%Net interest margin
  • 1.05%Noninterest income to earning assets
  • 3.18%Noninterest expense to earning assets
  • 0.62%Net operating income to assets
  • 0.70%Return on assets (ROA)
  • 0.99%Pretax return on assets
  • 8.15%Return on equity (ROE)
  • 8.15%Retained earnings to average equity (YTD only)
  • 0.03%Net charge-offs to loans
  • 842.86%Credit loss provision to net charge-offs
  • 53.11%Efficiency ratio
  • 72,049Assets per employee
  • 3.78%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.00%Loss allowance to noncurrent loans
  • 1332.89%Noncurrent assets plus other real estate owned to assets
  • 0.43%Noncurrent loans to loans
  • 0.08%Net loans and leases to deposits
  • 85.26%Net loans and leases to core deposits
  • 119.37%Equity capital to assets
  • 9.04%Core capital (leverage) ratio
  • 8.82%Tier 1 risk-based capital ratio
  • 10.87%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $143,642Average earning assets
  • $12,407Average equity
  • $120,485Average loans

Total Fiduciary and Related Assets (December 31, 2002)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $2,547Managed Assets
  • 1Number of Accounts
  • $2,547Personal trust and agency accounts
  • $2,547Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 94Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

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