The Citizens Bank in Olanta, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches


The Citizens Bank - Overview

  • General
  • FDIC Certificate #: 15932
    Status: Active
    Federal Reserve ID: 898627
    Bank Holding Company (Regulatory Top Holder): Citizens Bancshares Corporation (RSSDID: 1357121, Location: Olanta, SC)
    Date Established: September 24, 1938
    WWW: http://www.thecitizensbank.cc
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 16 (Domestic: 16, Interstate: No)
    OTS Docket #: 14608
    FDIC's unique #: 10164
    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: March 01, 1943
    Last Structure Change Effective Date: August 05, 2011
    Last Structure Change Process Date: September 02, 2011
    Last Data Update: September 02, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 124 East Main Street, Olanta, SC 29114
    County: Florence
    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): Florence, SC (#2655)
    Core Based Statistical Area (CBSA): Florence, SC (#22500)
    CBSA Metro Statistical Area: Florence, SC (#22500)
  • History of Changes
  • Office Purchased
  • Financial Summary
  • Total assets: $358.7 mil
    Equity capital: $33.4 mil
    Deposits held in domestic offices: $315.1 mil
    Return on assets (ROA): 0.62% ($2.2 mil)
    Quarterly return on assets: 0.69% ($2.5 mil)
    Return on Equity (ROE): 6.52% ($2.2 mil)
    Quarterly return on equity: 7.41% ($2.4 mil)
    Net income: $2.1 mil
    Quarterly Net income: $0.6 mil
    Pretax return on assets: 0.96% ($3,443.2 mil)
    Quarterly Pretax return on assets: 1.06% ($3,801.9 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
  • 120Total employees (full-time equivalent)
  • $358,670Total assets
  • $57,283Cash and due from depository institutions
  • $48,683Interest-bearing balances
  • $45,537Securities
  • $4,188Federal funds sold & reverse repurchase agreements
  • $221,666Net loans & leases
  • $4,165Loan loss allowance
  • $0Trading account assets
  • $14,346Bank premises and fixed assets
  • $1,651Other real estate owned
  • $4,431Goodwill and other intangibles
  • $358,670Life insurance assets
  • $9,568All other assets
  • $325,236Total liabilities and capital
  • $315,095Total liabilities
  • $264,238Total deposits
  • $315,095Interest-bearing deposits
  • $92Deposits held in domestic offices
  • 107.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $9,000Trading liabilities
  • $0Other borrowed funds
  • $1,034Subordinated debt
  • $33,434All other liabilities
  • $33,434Total equity capital
  • $33,434Total bank equity capital
  • $0Perpetual preferred stock
  • $1,800Common stock
  • $13,200Surplus
  • $18,434Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $1,499Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,270Income earned, not collected on loans
  • $0Earning assets
  • $1,778Long-term assets (5+ years)
  • $320,074Average Assets, year-to-date
  • $73,089Average Assets, quarterly
  • $340,292Volatile liabilities
  • $361,057Insider loans
  • $221,057FHLB advances
  • $359,304Loans and leases held for sale
  • $5,400Unused loan commitments
  • $4,047Tier 1 (core) risk-based capital
  • $28,868Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $1,353Total unused commitments
  • $25,224Restructured Loans and leases
  • $954Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $15,531Total interest income
  • $2,382Total interest expense
  • $13,149Net interest income
  • $900Provision for loan and lease losses
  • $3,431Total noninterest income
  • $0Fiduciary activities
  • $1,877Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,554Additional noninterest income
  • $12,400Total noninterest expense
  • $7,258Salaries and employee benefits
  • $1,738Premises and equipment expense
  • $3,404Additional noninterest expense
  • $3,280Pre-tax net operating income
  • -$10Securities gains (losses)
  • $1,149Applicable income taxes
  • $2,121Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,121Net income attributable to bank
  • $0Net charge-offs
  • $2,121Cash dividends
  • $607Sale, conversion, retirement of capital stock, net
  • $600Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.14%Yield on earning assets
  • 0.79%Cost of funding earning assets
  • 4.35%Net interest margin
  • 1.13%Noninterest income to earning assets
  • 4.10%Noninterest expense to earning assets
  • 0.63%Net operating income to assets
  • 0.62%Return on assets (ROA)
  • 0.96%Pretax return on assets
  • 6.52%Return on equity (ROE)
  • 4.67%Retained earnings to average equity (YTD only)
  • 0.29%Net charge-offs to loans
  • 148.27%Credit loss provision to net charge-offs
  • 6.89%Efficiency ratio
  • 74,144Assets per employee
  • 2.99%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 28.29%Loss allowance to loans
  • 1.84%Loss allowance to noncurrent loans
  • 127.37%Noncurrent assets plus other real estate owned to assets
  • 1.37%Noncurrent loans to loans
  • 1.45%Net loans and leases to deposits
  • 70.35%Net loans and leases to core deposits
  • 73.83%Equity capital to assets
  • 9.32%Core capital (leverage) ratio
  • 8.03%Tier 1 risk-based capital ratio
  • 13.06%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $340,292Average earning assets
  • $32,541Average equity
  • $302,383Average loans

List of branches

  • 16 South Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    010164The Citizens Bank124 East Main Street, Olanta, SC 29114September 24, 1938Full Service Brick and Mortar
    1235950Turbeville Branch1718 Main Street, Turbeville, SC 29162July 30, 1959Full Service Brick and Mortar
    2248416Lynchburg Branch11 Willow Grove Road, Lynchburg, SC 29080November 18, 1967Full Service Brick and Mortar
    3235951Lake City Branch209 East Main Street, Lake City, SC 29560May 08, 1987Full Service Brick and Mortar
    4235952Sumter Branch1225 Alice Drive, Sumter, SC 29151May 12, 1998Full Service Brick and Mortar
    5235953Pawleys Island Branch10769 Ocean Highway, Pawleys Island, SC 29585June 24, 1998Full Service Brick and Mortar
    8235956Scranton Branch1812 Highway 52, Scranton, SC 29591November 02, 1998Full Service Brick and Mortar
    9334346Timmonsville Branch4700 West Palmetto Street, Timmonsville, SC 29161October 02, 2000Full Service Brick and Mortar
    10364646St. George Branch5730 W. Memorial Blvd., Saint George, SC 29477May 28, 2002Full Service Brick and Mortar
    11451805Florence Branch #1702 Pamplico Highway, Florence, SC 29505May 22, 2006Full Service Brick and Mortar
    1210595Johnsonville Branch127 South Georgetown Highway, Johnsonville, SC 29555May 01, 1946Full Service Brick and Mortar
    17473066Messenger Service124 Main Street, Olanta, SC 29114August 08, 2003Limited Service Messenger
    18473125Florence Branch #2311 Revell Drive, Florence, SC 29501October 24, 2007Full Service Brick and Mortar
    19473962Pamplico Branch705 South Walnut Street, Pamplico, SC 29583June 08, 2007Full Service Brick and Mortar
    20515750Loan Production Office125 South Academy Street, Kingstree, SC 29556January 10, 2010Limited Service Loan Production
    21288176Georgetown Branch1510 Exhange Street, Georgetown, SC 29440October 30, 1992Full Service Brick and Mortar

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