Waccamaw Bank in Whiteville, North Carolina (NC), SC
Overview, Financial Summary, Detailed Financial Reports, Branches


Waccamaw Bank - Overview

  • General
  • FDIC Certificate #: 34515
    Status: Active
    Federal Reserve ID: 2607449
    Bank Holding Company (Regulatory Top Holder): Waccamaw Bankshares, Inc (RSSDID: 3004689, Location: Whiteville, NC)
    Date Established: September 02, 1997
    WWW: http://www.waccamawbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 17 (Domestic: 17, Interstate: Yes)
    OTS Docket #: 15862
    FDIC's unique #: 59022
    Numeric code: 13
    Regulator: FED
    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: September 02, 1997
    Last Structure Change Effective Date: April 29, 2006
    Last Structure Change Process Date: June 06, 2006
    Last Data Update: June 06, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 110 North J.K. Powell Boulevard, Whiteville, NC 28472
    County: Columbus
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Raleigh
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Southeast
  • History of Changes
  • Participated in Absorption/Consolidation/Merger
  • Financial Summary
  • Total assets: $562.0 mil
    Equity capital: $11.1 mil
    Deposits held in domestic offices: $492.7 mil
    Return on assets (ROA): -3.23% (-$18.2 mil)
    Quarterly return on assets: -2.65% (-$14.9 mil)
    Return on Equity (ROE): -82.99% (-$9.1 mil)
    Quarterly return on equity: -113.75% (-$12.5 mil)
    Net income: -$18.5 mil
    Quarterly Net income: -$3.8 mil
    Pretax return on assets: -3.23% (-$18,152.7 mil)
    Quarterly Pretax return on assets: -2.65% (-$14,893.1 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
  • 138Total employees (full-time equivalent)
  • $562,002Total assets
  • $99,255Cash and due from depository institutions
  • $60,679Interest-bearing balances
  • $74,262Securities
  • $15Federal funds sold & reverse repurchase agreements
  • $328,461Net loans & leases
  • $13,687Loan loss allowance
  • $0Trading account assets
  • $15,713Bank premises and fixed assets
  • $13,088Other real estate owned
  • $130Goodwill and other intangibles
  • $562,002Life insurance assets
  • $31,078All other assets
  • $550,853Total liabilities and capital
  • $492,729Total liabilities
  • $454,240Total deposits
  • $492,729Interest-bearing deposits
  • $86Deposits held in domestic offices
  • 17404.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $35,000Trading liabilities
  • $3,000Other borrowed funds
  • $2,720Subordinated debt
  • $11,149All other liabilities
  • $11,149Total equity capital
  • $11,149Total bank equity capital
  • $0Perpetual preferred stock
  • $6,237Common stock
  • $35,073Surplus
  • $-30,161Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $45,699Income earned, not collected on loans
  • $0Earning assets
  • $1,694Long-term assets (5+ years)
  • $463,417Average Assets, year-to-date
  • $224,142Average Assets, quarterly
  • $573,629Volatile liabilities
  • $573,890Insider loans
  • $389,641FHLB advances
  • $574,983Loans and leases held for sale
  • $18,867Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $12,450Tier 2 risk-based capital
  • $2,313Total risk weighted assets
  • $16,554Total unused commitments
  • $49,368Restructured Loans and leases
  • $4,797Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $21,097Total interest income
  • $7,613Total interest expense
  • $13,484Net interest income
  • $12,128Provision for loan and lease losses
  • $5,077Total noninterest income
  • $0Fiduciary activities
  • $2,784Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,293Additional noninterest income
  • $26,071Total noninterest expense
  • $6,445Salaries and employee benefits
  • $1,930Premises and equipment expense
  • $17,696Additional noninterest expense
  • -$19,638Pre-tax net operating income
  • $1,095Securities gains (losses)
  • -$5Applicable income taxes
  • -$18,538Income before extraordinary items
  • $0Extraordinary gains - net
  • -$18,538Net income attributable to bank
  • $0Net charge-offs
  • -$18,538Cash dividends
  • $13,799Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.35%Yield on earning assets
  • 1.57%Cost of funding earning assets
  • 2.78%Net interest margin
  • 1.05%Noninterest income to earning assets
  • 5.37%Noninterest expense to earning assets
  • -3.42%Net operating income to assets
  • -3.23%Return on assets (ROA)
  • -3.23%Pretax return on assets
  • -82.99%Return on equity (ROE)
  • -82.99%Retained earnings to average equity (YTD only)
  • 3.67%Net charge-offs to loans
  • 87.89%Credit loss provision to net charge-offs
  • -0.54%Efficiency ratio
  • 140,267Assets per employee
  • 4.07%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 4.00%Loss allowance to noncurrent loans
  • 29.95%Noncurrent assets plus other real estate owned to assets
  • 10.46%Noncurrent loans to loans
  • 13.36%Net loans and leases to deposits
  • 66.66%Net loans and leases to core deposits
  • 83.50%Equity capital to assets
  • 1.98%Core capital (leverage) ratio
  • 2.17%Tier 1 risk-based capital ratio
  • 3.20%Total risk-based capital ratio
  • Memoranda
  • $5Average assets
  • $573,629Average earning assets
  • $22,339Average equity
  • $485,096Average loans

List of branches

  • 12 North Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    059022Waccamaw Bank110 North J.K. Powell Boulevard, Whiteville, NC 28472September 02, 1997Full Service Brick and Mortar
    2290672Tabor City Branch105 Hickman Road, Tabor City, NC 28463September 02, 1997Full Service Brick and Mortar
    4356980Shallotte Branch4949 Main Street, Shallotte, NC 28470March 22, 2000Full Service Brick and Mortar
    5190543Chadbourn Branch111 Strawberry Boulevard, Chadbourn, NC 28431December 23, 1960Full Service Brick and Mortar
    6358877Holden Beach Road Branch3178 Holden Beach Road S.W., Supply, NC 28462November 20, 2000Full Service Brick and Mortar
    7436713Kerr Avenue Branch29 South Kerr Avenue, Wilmington, NC 28403July 12, 2004Full Service Brick and Mortar
    8441023Southport Branch701 North Howe Street, Southport, NC 28461May 16, 2005Full Service Brick and Mortar
    10453079Elizabethtown Branch306 S Poplar Street, Elizabethtown, NC 28337December 28, 2005Full Service Brick and Mortar
    12465562Southport Supply Branch4945 Southport Supply Road, Southport, NC 28461December 28, 2006Full Service Brick and Mortar
    13465563Sunset Commons Branch923 Seaside Rd Sw, Ocean Isle Beach, NC 28469May 07, 2007Full Service Brick and Mortar
    15478339Shallotte Smith Ave Branch200 Smith Ave, Shallotte, NC 28470December 03, 2007Full Service Brick and Mortar
    16478340Oak Island Branch8001 E Oak Island Drive, Oak Island, NC 28465November 26, 2007Full Service Brick and Mortar
  • 5 South Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    911448The Bank Of Heath Springs BranchMain And Caston Streets (N.W.), Heath Springs, SC 29058March 01, 1936Full Service Brick and Mortar
    1145598216th Avenue Branch1230 16th Avenue, Conway, SC 29526August 18, 2006Full Service Brick and Mortar
    14469936Socastee Branch5429 Dick Pond Road, Myrtle Beach, SC 29588December 17, 2007Full Service Brick and Mortar
    17478341Conway Medical Branch112 Waccamaw Medical Park, Conway, SC 29526December 10, 2007Full Service Brick and Mortar
    18492689Little River Branch1180 Hwy 17, Little River, SC 29566August 04, 2008Full Service Brick and Mortar

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