Verity Bank in Winder, Georgia (GA)
Overview, Financial Summary, Detailed Financial Reports, Branches

Verity Bank - Overview

  • General
  • FDIC Certificate #: 58711
    Status: Active
    Federal Reserve ID: 3719620
    Bank Holding Company (Regulatory Top Holder): Verity Capital Group, Inc. (RSSDID: 3719611, Location: Winder, GA)
    Date Established: October 27, 2008
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Domestic: 1, Interstate: No)
    FDIC's unique #: 463471
    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: October 27, 2008
    Last Structure Change Effective Date: October 27, 2008
    Last Structure Change Process Date: October 27, 2008
    Last Data Update: October 27, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 94 West Athens Street, Winder, GA 30680
    County: Barrow
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Atlanta
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Atlanta, GA (#520)
    Combined Statistical Area (CSA): Atlanta-Sandy Springs-Gainesville, GA-AL (#122)
    Core Based Statistical Area (CBSA): Atlanta-Sandy Springs-Marietta, GA (#12060)
    CBSA Metro Statistical Area: Atlanta-Sandy Springs-Marietta, GA (#12060)
  • History of Changes
  • Change in Geographic Region/Area/Territory/Field Office
    New Institution
  • Financial Summary
  • Total assets: $158.8 mil
    Equity capital: $15.4 mil
    Deposits held in domestic offices: $140.0 mil
    Return on assets (ROA): 0.10% ($0.2 mil)
    Quarterly return on assets: -1.01% (-$1.6 mil)
    Return on Equity (ROE): 0.91% ($0.1 mil)
    Quarterly return on equity: -9.88% (-$1.5 mil)
    Net income: $0.1 mil
    Quarterly Net income: -$0.4 mil
    Pretax return on assets: 0.10% ($158.8 mil)
    Quarterly Pretax return on assets: -1.01% (-$1,603.9 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
  • 26Total employees (full-time equivalent)
  • $158,805Total assets
  • $25,279Cash and due from depository institutions
  • $24,643Interest-bearing balances
  • $23,783Securities
  • $2,625Federal funds sold & reverse repurchase agreements
  • $101,498Net loans & leases
  • $1,762Loan loss allowance
  • $0Trading account assets
  • $4,024Bank premises and fixed assets
  • $23Other real estate owned
  • $670Goodwill and other intangibles
  • $158,804Life insurance assets
  • $903All other assets
  • $143,434Total liabilities and capital
  • $140,038Total liabilities
  • $117,242Total deposits
  • $140,038Interest-bearing deposits
  • $79Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $3,000Trading liabilities
  • $0Other borrowed funds
  • $396Subordinated debt
  • $15,370All other liabilities
  • $15,370Total equity capital
  • $15,370Total bank equity capital
  • $0Perpetual preferred stock
  • $10,715Common stock
  • $11,161Surplus
  • $-6,506Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $1,747Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $0Earning assets
  • $440Long-term assets (5+ years)
  • $152,549Average Assets, year-to-date
  • $24,265Average Assets, quarterly
  • $137,763Volatile liabilities
  • $152,402Insider loans
  • $103,992FHLB advances
  • $149,668Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $15,188Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $12,718Restructured Loans and leases
  • $1,198Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,750Total interest income
  • $1,407Total interest expense
  • $4,343Net interest income
  • $964Provision for loan and lease losses
  • $1,188Total noninterest income
  • $0Fiduciary activities
  • $33Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,155Additional noninterest income
  • $4,482Total noninterest expense
  • $3,086Salaries and employee benefits
  • $326Premises and equipment expense
  • $1,070Additional noninterest expense
  • $85Pre-tax net operating income
  • $54Securities gains (losses)
  • $0Applicable income taxes
  • $139Income before extraordinary items
  • $0Extraordinary gains - net
  • $139Net income attributable to bank
  • $0Net charge-offs
  • $139Cash dividends
  • $80Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.37%Yield on earning assets
  • 1.07%Cost of funding earning assets
  • 3.30%Net interest margin
  • 0.90%Noninterest income to earning assets
  • 3.40%Noninterest expense to earning assets
  • 0.06%Net operating income to assets
  • 0.10%Return on assets (ROA)
  • 0.10%Pretax return on assets
  • 0.91%Return on equity (ROE)
  • 0.91%Retained earnings to average equity (YTD only)
  • 0.09%Net charge-offs to loans
  • 1205.00%Credit loss provision to net charge-offs
  • 13.11%Efficiency ratio
  • 81,034Assets per employee
  • 6.11%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.71%Loss allowance to noncurrent loans
  • 0.00%Noncurrent assets plus other real estate owned to assets
  • 0.01%Noncurrent loans to loans
  • 0.00%Net loans and leases to deposits
  • 72.48%Net loans and leases to core deposits
  • 77.58%Equity capital to assets
  • 9.68%Core capital (leverage) ratio
  • 10.15%Tier 1 risk-based capital ratio
  • 14.60%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $137,763Average earning assets
  • $15,196Average equity
  • $131,719Average loans

List of branches

  • 1 Georgia Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0463471Verity Bank94 West Athens Street, Winder, GA 30680October 27, 2008Full Service Brick and Mortar

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