The Heritage Bank in Hinesville, Georgia (GA)



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The Heritage Bank
GeneralFDIC Certificate #: 193
Status: Active
Federal Reserve ID: 507330
Bank Holding Company (Regulatory Top Holder): Liberty Shares, Inc. (RSSDID: 1086748, Location: Hinesville, GA)
Date Established: November 15, 1911
WWW: http://www.the-heritage-bank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 32 (Domestic: 32, Interstate: No)
FDIC's unique #: 155
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: January 01, 1934
Last Structure Change Effective Date: June 12, 2009
Last Structure Change Process Date: July 27, 2009
Last Data Update: July 27, 2009
Data Source Date: April 05, 2012
LocationAddress: 300 South Main Street, Hinesville, GA 31313
County: Liberty
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
Combined Statistical Area (CSA): Savannah-Hinesville-Fort Stewart, GA (#496)
Core Based Statistical Area (CBSA): Hinesville-Fort Stewart, GA (#25980)
CBSA Metro Statistical Area: Hinesville-Fort Stewart, GA (#25980)
History of ChangesChange in Geographic Region/Area/Territory/Field Office
Office Purchased
Financial SummaryTotal assets: $865.2 mil
Equity capital: $33.1 mil
Deposits held in domestic offices: $792.7 mil
Return on assets (ROA): -1.36% (-$11.8 mil)
Quarterly return on assets: -3.90% (-$33.7 mil)
Return on Equity (ROE): -29.85% (-$9.9 mil)
Quarterly return on equity: -90.80% (-$30.0 mil)
Net income: -$12.4 mil
Quarterly Net income: -$8.6 mil
Pretax return on assets: -1.34% (-$11,593.7 mil)
Quarterly Pretax return on assets: -3.90% (-$33,742.9 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)
Total employees (full-time equivalent)331
Total assets$865,202
Cash and due from depository institutions$186,274
Interest-bearing balances$169,098
Securities$77,512
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$528,604
Loan loss allowance $22,943
Trading account assets$0
Bank premises and fixed assets$25,332
Other real estate owned$21,647
Goodwill and other intangibles$3,110
All other assets$22,723
Life insurance assets$865,202
Total liabilities and capital$832,119
Total liabilities$792,701
Total deposits$694,920
Interest-bearing deposits$792,701
Deposits held in domestic offices$93
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$37,000
Other borrowed funds $0
Subordinated debt $2,418
All other liabilities $33,083
Total equity capital$33,083
Total bank equity capital$33,083
Perpetual preferred stock$0
Common stock$390
Surplus$78,904
Undivided profits $-46,211
Memoranda
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 $80,600
Earning assets $1,225
Long-term assets (5+ years) $3,847
Average Assets, year-to-date $775,214
Average Assets, quarterly $134,460
Volatile liabilities $915,980
Insider loans $880,127
FHLB advances $566,329
Loans and leases held for sale $894,134
Unused loan commitments $10,774
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $29,693
Total risk weighted assets $0
Total unused commitments $10,774
Restructured Loans and leases $50,164
Derivatives$11,599
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $35,027
Total interest expense $11,077
Net interest income $23,950
Provision for loan and lease losses $18,770
Total noninterest income $13,059
Fiduciary activities $0
Service charges on deposit accounts $10,052
Trading account gains & fees $0
Additional noninterest income $3,007
Total noninterest expense $32,549
Salaries and employee benefits $13,357
Premises and equipment expense $5,119
Additional noninterest expense $14,073
Pre-tax net operating income -$14,310
Securities gains (losses) $2,072
Applicable income taxes $196
Income before extraordinary items -$12,434
Extraordinary gains - net $0
Net income attributable to bank -$12,434
Net charge-offs $0
Cash dividends -$12,434
Sale, conversion, retirement of capital stock, net $25,951
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.26%
Cost of funding earning assets 1.35%
Net interest margin 2.91%
Noninterest income to earning assets 1.59%
Noninterest expense to earning assets 3.96%
Net operating income to assets -1.58%
Return on assets (ROA) -1.36%
Pretax return on assets -1.34%
Return on equity (ROE) -29.85%
Retained earnings to average equity (YTD only) -29.85%
Net charge-offs to loans 4.34%
Credit loss provision to net charge-offs 72.33%
Efficiency ratio0.17%
Assets per employee$85,071
Cash dividends to net income (YTD only)2.61%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 4.16%
Noncurrent assets plus other real estate owned to assets 28.47%
Noncurrent loans to loans 11.82%
Net loans and leases to deposits14.61%
Net loans and leases to core deposits 66.68%
Equity capital to assets 78.75%
Core capital (leverage) ratio 3.82%
Tier 1 risk-based capital ratio 3.32%
Total risk-based capital ratio 5.24%
Memoranda
Average assets$7
Average earning assets$915,980
Average equity $41,656
Average loans $822,141
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Bank Assets Sold and Securitized (December 31, 2011)
(Dollar figures in thousands)
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32 Georgia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0155The Heritage Bank300 South Main Street, Hinesville, GA 31313November 15, 1911Full Service Brick and Mortar
1181340Fort Stewart Branch32 Wurzburg St, Fort Stewart, GA 31314November 07, 1968Full Service Brick and Mortar
2181341Midway Branch248 Butler Avenue, Midway, GA 31320July 10, 1981Full Service Brick and Mortar
3181342Oglethorpe Hwy Branch555 Oglethorpe Highway West, Hinesville, GA 31313July 26, 1993Full Service Retail
5181344Px Mall Branch112 Vilseck Rd. Bldg 119, Fort Stewart, GA 31314March 18, 1996Full Service Retail
7191472Jesup Branch292 South Macon Street, Jesup, GA 31545June 27, 1990Full Service Brick and Mortar
915755Ludowici Branch32 Mcdonald Street, Ludowici, GA 31316January 02, 1968Full Service Brick and Mortar
10181346Northside Branch1100 North First Street, Jesup, GA 31545September 16, 1998Full Service Retail
11181347Fort Stewart Commissary Branch200 Vilseck Rd Bldg 421, Fort Stewart, GA 31314January 12, 1999Full Service Retail
12181348Ford Avenue Branch9701 Ford Avenue, Richmond Hill, GA 31324September 23, 1999Full Service Retail
13358889Hunter Army Airfield Branch6020 Haley Ave, Savannah, GA 31409November 20, 2000Full Service Retail
14359704Savannah 204/Wal-Mart 635 Branch6000 Ogeechee Road, Savannah, GA 31419March 14, 2001Full Service Retail
15360087Southside Branch751 W. Oglethorpe Hwy., Hinesville, GA 31313July 19, 2000Full Service Retail
1677679St Marys Branch392 Charlie Smith, Sr. Highway, Saint Marys, GA 31558October 01, 1999Full Service Brick and Mortar
17428585Rincon Walmart Branch434 South Columbia Avenue, Rincon, GA 31326May 19, 2004Full Service Retail
18429524Wal-Mart #754 Branch730 Northside Drive East, Statesboro, GA 30458Febuary 09, 2004Full Service Retail
20429774Kingsland Winn Dixie Branch1315 E Boone Ave, Kingsland, GA 31548April 05, 2004Full Service Retail
21432349Brunswick Branch150 Altama Connector, Brunswick, GA 31525September 07, 2004Full Service Retail
22439455Kroger Supermarket-Abercorn Street B14010 Abercorn Street, Savannah, GA 31419March 21, 2005Full Service Retail
23442356Truman Parkway Walmart Branch1955 E Montgomery Crossroads, Savannah, GA 31406July 21, 2004Full Service Retail
24444364Pembroke Branch16 Railroad Street East, Pembroke, GA 31321August 29, 2005Full Service Brick and Mortar
25445461Waycross Branch2425 Memorial Drive, Waycross, GA 31503September 12, 2005Full Service Retail
26446297Kroger Supermarket - Berwick And 175720 Ogeechee Road, Savannah, GA 31405November 10, 2005Full Service Retail
27452547Downtown Statesboro Branch58b East Main Street, Statesboro, GA 30458March 22, 2006Full Service Retail
28466030Darien Office Branch1142 North Way, Darien, GA 31305November 27, 2006Full Service Brick and Mortar
2910658Blackshear BranchMain Street, Blackshear, GA 31516July 13, 1946Full Service Brick and Mortar
30270440Waycross Branch810 Plant Avenue, Waycross, GA 31501January 01, 1933Full Service Brick and Mortar
3110459Homerville Branch56 East Dame Avenue, Homerville, GA 31634January 01, 1934Full Service Brick and Mortar
32362270Nahunta Branch113 East Cleveland Street, Nahunta, GA 31553November 20, 2001Full Service Brick and Mortar
33418445Brunswick Branch103 Scranton Connector, Brunswick, GA 31525Febuary 03, 2003Full Service Brick and Mortar
34446262St. Simons Branch106 Retreat Plaza, Saint Simons Island, GA 31522August 01, 2005Full Service Brick and Mortar
35494462Stephenson Avenue Branch620 Stephenson Avenue, Savannah, GA 31405September 02, 2008Full Service Retail
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