The Palmetto Bank in Greenville, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches

The Palmetto Bank - Overview

  • General
  • FDIC Certificate #: 8997
    Status: Active
    Federal Reserve ID: 862824
    Bank Holding Company (Regulatory Top Holder): Capgen Capital Group V Lp (RSSDID: 4147006, Location: New York, NY)
    Date Established: August 17, 1906
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 34 (Domestic: 34, Interstate: No)
    OTS Docket #: 14487
    FDIC's unique #: 5746
    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: March 01, 2011
    Last Structure Change Process Date: April 01, 2011
    Last Data Update: April 01, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 306 East North Street, Greenville, SC 29601
    County: Greenville
    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): Greenville-Spartanburg-Anderson, SC (#3160)
    Combined Statistical Area (CSA): Greenville-Spartanburg-Anderson, SC (#273)
    Core Based Statistical Area (CBSA): Greenville-Mauldin-Easley, SC (#24860)
    CBSA Metro Statistical Area: Greenville-Mauldin-Easley, SC (#24860)
  • History of Changes
  • Change in Location
  • Financial Summary
  • Total assets: $1,204.5 mil
    Equity capital: $102.6 mil
    Deposits held in domestic offices: $1,066.9 mil
    Return on assets (ROA): -1.80% (-$21.7 mil)
    Quarterly return on assets: -0.73% (-$8.8 mil)
    Return on Equity (ROE): -21.40% (-$22.0 mil)
    Quarterly return on equity: -8.62% (-$8.9 mil)
    Net income: -$23.2 mil
    Quarterly Net income: -$2.2 mil
    Pretax return on assets: -2.01% (-$24,210.2 mil)
    Quarterly Pretax return on assets: -0.78% (-$9,395.0 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
  • 355Total employees (full-time equivalent)
  • $1,204,489Total assets
  • $103,888Cash and due from depository institutions
  • $86,187Interest-bearing balances
  • $260,992Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $765,788Net loans & leases
  • $25,596Loan loss allowance
  • $0Trading account assets
  • $25,507Bank premises and fixed assets
  • $28,225Other real estate owned
  • $2,586Goodwill and other intangibles
  • $1,204,489Life insurance assets
  • $17,503All other assets
  • $1,101,887Total liabilities and capital
  • $1,066,906Total liabilities
  • $909,078Total deposits
  • $1,066,906Interest-bearing deposits
  • $90Deposits held in domestic offices
  • 23858.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $733Trading liabilities
  • $0Other borrowed funds
  • $10,390Subordinated debt
  • $102,602All other liabilities
  • $102,602Total equity capital
  • $102,602Total bank equity capital
  • $0Perpetual preferred stock
  • $1,109Common stock
  • $156,211Surplus
  • $-54,718Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $17,826Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $53,028Income earned, not collected on loans
  • $0Earning assets
  • $5,196Long-term assets (5+ years)
  • $1,112,967Average Assets, year-to-date
  • $279,968Average Assets, quarterly
  • $1,283,436Volatile liabilities
  • $1,227,242Insider loans
  • $866,065FHLB advances
  • $1,231,781Loans and leases held for sale
  • $1,571Unused loan commitments
  • $1,571Tier 1 (core) risk-based capital
  • $104,972Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $138,218Restructured Loans and leases
  • $2,465Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $51,818Total interest income
  • $9,426Total interest expense
  • $42,392Net interest income
  • $20,500Provision for loan and lease losses
  • $1,966Total noninterest income
  • $2,352Fiduciary activities
  • $7,552Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$7,938Additional noninterest income
  • $49,844Total noninterest expense
  • $23,607Salaries and employee benefits
  • $7,104Premises and equipment expense
  • $19,133Additional noninterest expense
  • -$25,986Pre-tax net operating income
  • $156Securities gains (losses)
  • -$2,676Applicable income taxes
  • -$23,154Income before extraordinary items
  • $0Extraordinary gains - net
  • -$23,154Net income attributable to bank
  • $0Net charge-offs
  • -$23,154Cash dividends
  • $21,838Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.33%Yield on earning assets
  • 0.79%Cost of funding earning assets
  • 3.54%Net interest margin
  • 0.16%Noninterest income to earning assets
  • 4.16%Noninterest expense to earning assets
  • -1.82%Net operating income to assets
  • -1.80%Return on assets (ROA)
  • -2.01%Pretax return on assets
  • -21.40%Return on equity (ROE)
  • -21.40%Retained earnings to average equity (YTD only)
  • 2.65%Net charge-offs to loans
  • 93.87%Credit loss provision to net charge-offs
  • -0.25%Efficiency ratio
  • 112,368Assets per employee
  • 3.39%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.23%Loss allowance to noncurrent loans
  • 48.27%Noncurrent assets plus other real estate owned to assets
  • 6.75%Noncurrent loans to loans
  • 6.70%Net loans and leases to deposits
  • 71.78%Net loans and leases to core deposits
  • 75.90%Equity capital to assets
  • 8.52%Core capital (leverage) ratio
  • 8.52%Tier 1 risk-based capital ratio
  • 12.12%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $1,283,436Average earning assets
  • $108,210Average equity
  • $1,196,819Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $246,793Managed Assets
  • 1Number of Accounts
  • $225,062Personal trust and agency accounts
  • $111,487Employee benefit-defined contribution accounts
  • $23,226Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $22,216Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $68,133Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 622Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $21,731Other retirement accounts
  • $10,966Corporate trust and agency accounts
  • $2Other fiduciary accounts
  • $670Fiduciary accounts held in foreign offices

List of branches

  • 34 South Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    05746The Palmetto Bank306 East North Street, Greenville, SC 29601August 17, 1906Full Service Brick and Mortar
    1219265North Harper Street Branch635 North Harper Street, Laurens, SC 29360August 28, 1952Full Service Brick and Mortar
    2219266Church Street BranchU.S. Highway 76 And Church Street, Laurens, SC 29360November 04, 1968Full Service Brick and Mortar
    3219267Fountain Inn Branch300 North Weston Street, Fountain Inn, SC 29644October 21, 1974Full Service Brick and Mortar
    4219268Simpsonville BranchMaple And College Streets, Simpsonville, SC 29681March 22, 1976Full Service Brick and Mortar
    5219269Haywood Road Branch470 Haywood Road, Greenville, SC 29615July 20, 1981Full Service Brick and Mortar
    7219271Spartan Centre Branch101 West St. John Street, Spartanburg, SC 29304Febuary 21, 1984Full Service Brick and Mortar
    10219274Hillcrest Drive Branch1544 East Main Street, Spartanburg, SC 29302January 20, 1986Full Service Brick and Mortar
    11219275Duncan Branch108 East Main Street, Duncan, SC 29334Febuary 09, 1987Full Service Brick and Mortar
    13219549Montague Branch701 Montague Avenue, Greenwood, SC 29646July 10, 1978Full Service Brick and Mortar
    14219276South Main Street906 South Main Street, Greenwood, SC 29646May 30, 1989Full Service Brick and Mortar
    15219277Clinton Branch101 West Carolina Avenue, Clinton, SC 29325August 13, 1990Full Service Brick and Mortar
    16219278Greenwood Methodist Ret Com1110 Marshall Road, Greenwood, SC 29648March 05, 1991Limited Service Mobile
    17219279Anderson Branch815 North Main Street, Anderson, SC 29621November 04, 1991Full Service Brick and Mortar
    18219280Skyland Place Retirement Branch1705 Skylyn Drive, Spartanburg, SC 29302December 03, 1991Limited Service Mobile
    19219281Haywood Estates Retirement Branch1180 Haywood Road, Greenville, SC 29615December 12, 1991Limited Service Mobile
    20219282Laurens Retirement Center Branch1 Martha Franks Drive, Laurens, SC 29360January 14, 1992Limited Service Mobile
    21219283Grove Road Branch722 Grove Road, Greenville, SC 29605April 19, 1993Full Service Brick and Mortar
    22219284Inman Branch11500 Asheville Highway, Inman, SC 29349January 03, 1994Full Service Brick and Mortar
    23219285Pendleton Branch901 South Mechanic Street, Pendleton, SC 29670June 27, 1994Full Service Brick and Mortar
    25245207Gaffney Branch311 South Limestone Street, Gaffney, SC 29340March 29, 1969Full Service Brick and Mortar
    26245208Blacksburg Branch203 West Cherokee Street, Blacksburg, SC 29702December 31, 1969Full Service Brick and Mortar
    27275181Ninety Six Branch207 North Cambridge, Ninety Six, SC 29666January 01, 1921Full Service Brick and Mortar
    28219287Woodruff Road Branch2101 Woodruff Road, Greenville, SC 29607April 20, 1998Full Service Brick and Mortar
    29219288Mauldin Branch401 West Butler Road, Mauldin, SC 29662April 13, 1998Full Service Brick and Mortar
    35219293Greer Branch809 West Wade Hampton Boulevard, Greer, SC 29651November 15, 1999Full Service Brick and Mortar
    36275687Abbeville Branch100 West Greenwood St, Abbeville, SC 29620January 01, 1922Full Service Brick and Mortar
    37363037Travelers Rest Branch570 Roe Center Court, Travelers Rest, SC 29690January 14, 2002Full Service Brick and Mortar
    38363587Seneca Branch1094 Highway 123 Bypass, Seneca, SC 29678March 18, 2002Full Service Brick and Mortar
    39442219Easley Branch1524 East Main Street, Easley, SC 29640March 17, 2005Full Service Brick and Mortar
    40455723Boiling Springs Branch3995 Sc Highway 9, Boiling Springs, SC 29316September 25, 2006Full Service Brick and Mortar
    41493519Rock Hill Branch201 Oakland Drive, Rock Hill, SC 29730August 28, 2008Full Service Brick and Mortar
    42510141The Palmetto Bank At Cascades267 Old Sulpher Springs Road, Greenville, SC 29607November 05, 2008Limited Service Retail
    43518149Laurens Branch101 West Main Street, Laurens, SC 29360March 01, 2011Full Service Brick and Mortar

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