The Coastal Bank of Georgia in Brunswick, Georgia (GA)



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The Coastal Bank of Georgia
GeneralFDIC Certificate #: 16911
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Synovus Bank (#873)
Federal Reserve ID: 300531
Date Established: June 01, 1950
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 7 (Interstate: No)
FDIC's unique #: 10996
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: Yes
Date of Deposit Insurance: June 01, 1950
Last Structure Change Effective Date: June 01, 2010
Last Structure Change Process Date: June 15, 2010
Last Data Update: June 15, 2010
Data Source Date: April 05, 2012
LocationAddress: 1500 Newcastle Street, Brunswick, GA 31520
County: Glynn
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Savannah
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Core Based Statistical Area (CBSA): Brunswick, GA (#15260)
CBSA Metro Statistical Area: Brunswick, GA (#15260)
Financial SummaryTotal assets: $546.3 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, 2009)
(Dollar figures in thousands)
Total employees (full-time equivalent)80
Total assets$552,066
Cash and due from depository institutions$9,641
Interest-bearing balances$123
Securities$60,213
Federal funds sold & reverse repurchase agreements$19,197
Net loans & leases$432,287
Loan loss allowance $10,990
Trading account assets$0
Bank premises and fixed assets$8,204
Other real estate owned$1,474
Goodwill and other intangibles$0
All other assets$21,050
Life insurance assets$0
Total liabilities and capital$552,066
Total liabilities$507,731
Total deposits$475,145
Interest-bearing deposits$439,655
Deposits held in domestic offices$475,145
% insured (estimated)81.51%
Federal funds purchased & repurchase agreements $29
Trading liabilities$0
Other borrowed funds $30,000
Subordinated debt $0
All other liabilities $2,557
Total equity capital$44,335
Total bank equity capital$44,335
Perpetual preferred stock$44,335
Common stock$0
Surplus$1,000
Undivided profits $51,363
Memoranda
Noncurrent loans and leases $-8,028
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $35,829
Income earned, not collected on loans $0
Earning assets $23,689
Long-term assets (5+ years) $0
Average Assets, year-to-date $2,489
Average Assets, quarterly $511,820
Volatile liabilities $56,532
Insider loans $609,508
FHLB advances $594,736
Loans and leases held for sale $84,295
Unused loan commitments $23,490
Tier 1 (core) risk-based capital $30,000
Tier 2 risk-based capital $0
Total risk weighted assets $3,266
Total unused commitments $35,829
Restructured Loans and leases $562
Derivatives$5,334
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Income and Expense (December 31, 2009)
(Dollar figures in thousands)
Total interest income $28,091
Total interest expense $8,785
Net interest income $19,306
Provision for loan and lease losses $35,381
Total noninterest income -$194
Fiduciary activities $0
Service charges on deposit accounts $1,601
Trading account gains & fees $0
Additional noninterest income -$1,795
Total noninterest expense $11,779
Salaries and employee benefits $4,761
Premises and equipment expense $1,432
Additional noninterest expense $5,586
Pre-tax net operating income -$28,048
Securities gains (losses) $168
Applicable income taxes -$7,067
Income before extraordinary items -$20,813
Extraordinary gains - net $0
Net income attributable to bank -$20,813
Net charge-offs $0
Cash dividends -$20,813
Sale, conversion, retirement of capital stock, net $32,769
Net operating income $364
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Performance and Condition Ratios (December 31, 2009)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.88%
Cost of funding earning assets 1.53%
Net interest margin 3.35%
Noninterest income to earning assets -0.03%
Noninterest expense to earning assets 2.05%
Net operating income to assets -3.44%
Return on assets (ROA) -3.41%
Pretax return on assets -4.57%
Return on equity (ROE) -44.43%
Retained earnings to average equity (YTD only) -45.21%
Net charge-offs to loans 6.65%
Credit loss provision to net charge-offs 107.97%
Efficiency ratio0.22%
Assets per employee$61,631
Cash dividends to net income (YTD only)6.90%
Condition Ratios (%)
Loss allowance to loans -1.75%
Loss allowance to noncurrent loans 2.48%
Noncurrent assets plus other real estate owned to assets 46.39%
Noncurrent loans to loans 4.56%
Net loans and leases to deposits5.34%
Net loans and leases to core deposits 90.98%
Equity capital to assets 105.21%
Core capital (leverage) ratio 8.03%
Tier 1 risk-based capital ratio 7.33%
Total risk-based capital ratio 10.14%
Memoranda
Average assets$11
Average earning assets$609,508
Average equity $46,846
Average loans $575,568
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