The Peoples Bank in Iva, South Carolina (SC)

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The Peoples Bank
GeneralFDIC Certificate #: 16968
Status: Active
Federal Reserve ID: 285928
Bank Holding Company (Regulatory Top Holder): Peoples Financial Group, Inc. (RSSDID: 2916020, Location: Iva, SC)
Date Established: January 02, 1951
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 6 (Domestic: 6, Interstate: No)
OTS Docket #: 14179
FDIC's unique #: 11044
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: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: January 02, 1951
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 801 East Front Street, Iva, SC 29655
County: Anderson
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): Anderson, SC (#11340)
CBSA Metro Statistical Area: Anderson, SC (#11340)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $252.7 mil
Equity capital: $22.6 mil
Deposits held in domestic offices: $205.5 mil
Return on assets (ROA): 0.93% ($2.4 mil)
Quarterly return on assets: 0.26% ($0.7 mil)
Return on Equity (ROE): 10.64% ($2.4 mil)
Quarterly return on equity: 2.81% ($0.6 mil)
Net income: $2.3 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 0.94% ($2,375.6 mil)
Quarterly Pretax return on assets: 0.26% ($657.1 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)65
Total assets$252,725
Cash and due from depository institutions$16,508
Interest-bearing balances$10,625
Federal funds sold & reverse repurchase agreements$2,911
Net loans & leases$149,144
Loan loss allowance $3,357
Trading account assets$0
Bank premises and fixed assets$6,925
Other real estate owned$5,760
Goodwill and other intangibles$0
All other assets$8,481
Life insurance assets$252,725
Total liabilities and capital$230,099
Total liabilities$205,470
Total deposits$189,836
Interest-bearing deposits$205,470
Deposits held in domestic offices$91
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$23,100
Other borrowed funds $0
Subordinated debt $1,529
All other liabilities $22,626
Total equity capital$22,626
Total bank equity capital$22,626
Perpetual preferred stock$0
Common stock$2,613
Undivided profits $14,113
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $761
Income earned, not collected on loans $13,262
Earning assets $0
Long-term assets (5+ years) $1,043
Average Assets, year-to-date $225,676
Average Assets, quarterly $96,699
Volatile liabilities $247,134
Insider loans $252,146
FHLB advances $161,943
Loans and leases held for sale $253,042
Unused loan commitments $5,426
Tier 1 (core) risk-based capital $5,426
Tier 2 risk-based capital $21,327
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $16,581
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $11,038
Total interest expense $2,899
Net interest income $8,139
Provision for loan and lease losses $1,476
Total noninterest income $2,001
Fiduciary activities $0
Service charges on deposit accounts $984
Trading account gains & fees $0
Additional noninterest income $1,017
Total noninterest expense $6,875
Salaries and employee benefits $3,552
Premises and equipment expense $865
Additional noninterest expense $2,458
Pre-tax net operating income $1,789
Securities gains (losses) $532
Applicable income taxes $24
Income before extraordinary items $2,297
Extraordinary gains - net $0
Net income attributable to bank $2,297
Net charge-offs $0
Cash dividends $2,297
Sale, conversion, retirement of capital stock, net $2,265
Net operating income $359
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.01%
Cost of funding earning assets 1.32%
Net interest margin 3.70%
Noninterest income to earning assets 0.91%
Noninterest expense to earning assets 3.12%
Net operating income to assets 0.72%
Return on assets (ROA) 0.93%
Pretax return on assets 0.94%
Return on equity (ROE) 10.64%
Retained earnings to average equity (YTD only) 8.98%
Net charge-offs to loans 1.48%
Credit loss provision to net charge-offs 65.17%
Efficiency ratio1.44%
Assets per employee$67,801
Cash dividends to net income (YTD only)3.89%
Condition Ratios (%)
Loss allowance to loans 15.63%
Loss allowance to noncurrent loans 2.20%
Noncurrent assets plus other real estate owned to assets 25.31%
Noncurrent loans to loans 7.53%
Net loans and leases to deposits8.70%
Net loans and leases to core deposits 72.59%
Equity capital to assets 77.77%
Core capital (leverage) ratio 8.95%
Tier 1 risk-based capital ratio 8.43%
Total risk-based capital ratio 13.17%
Average assets$14
Average earning assets$247,134
Average equity $21,582
Average loans $220,101
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6 South Carolina Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
011044The Peoples Bank801 East Front Street, Iva, SC 29655January 02, 1951Full Service Brick and Mortar
1239781Homeland Park Branch3010 South Main Street, Anderson, SC 29624December 07, 1981Full Service Brick and Mortar
2239782Downtown Branch605 North Main Street, Anderson, SC 29621April 10, 1997Full Service Brick and Mortar
3239783Clemson Boulevard Branch3901 Clemson Boulevard, Anderson, SC 29621September 08, 1999Full Service Brick and Mortar
4445177Greenville Street Branch1921 East Greenville Street, Anderson, SC 29621October 05, 2005Full Service Brick and Mortar
5462435Highway 24 Branch3009 Whitehall Road, Anderson, SC 29626March 23, 2007Full Service Brick and Mortar
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