Waccamaw Bank in Whiteville, North Carolina (NC), SC



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Waccamaw Bank routing number info

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Waccamaw Bank
GeneralFDIC 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
LocationAddress: 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 ChangesParticipated in Absorption/Consolidation/Merger
Financial SummaryTotal 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)
Total employees (full-time equivalent)138
Total assets$562,002
Cash and due from depository institutions$99,255
Interest-bearing balances$60,679
Securities$74,262
Federal funds sold & reverse repurchase agreements$15
Net loans & leases$328,461
Loan loss allowance $13,687
Trading account assets$0
Bank premises and fixed assets$15,713
Other real estate owned$13,088
Goodwill and other intangibles$130
All other assets$31,078
Life insurance assets$562,002
Total liabilities and capital$550,853
Total liabilities$492,729
Total deposits$454,240
Interest-bearing deposits$492,729
Deposits held in domestic offices$86
% insured (estimated)17404.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$35,000
Other borrowed funds $3,000
Subordinated debt $2,720
All other liabilities $11,149
Total equity capital$11,149
Total bank equity capital$11,149
Perpetual preferred stock$0
Common stock$6,237
Surplus$35,073
Undivided profits $-30,161
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 $45,699
Earning assets $0
Long-term assets (5+ years) $1,694
Average Assets, year-to-date $463,417
Average Assets, quarterly $224,142
Volatile liabilities $573,629
Insider loans $573,890
FHLB advances $389,641
Loans and leases held for sale $574,983
Unused loan commitments $18,867
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $12,450
Total risk weighted assets $2,313
Total unused commitments $16,554
Restructured Loans and leases $49,368
Derivatives$4,797
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $21,097
Total interest expense $7,613
Net interest income $13,484
Provision for loan and lease losses $12,128
Total noninterest income $5,077
Fiduciary activities $0
Service charges on deposit accounts $2,784
Trading account gains & fees $0
Additional noninterest income $2,293
Total noninterest expense $26,071
Salaries and employee benefits $6,445
Premises and equipment expense $1,930
Additional noninterest expense $17,696
Pre-tax net operating income -$19,638
Securities gains (losses) $1,095
Applicable income taxes -$5
Income before extraordinary items -$18,538
Extraordinary gains - net $0
Net income attributable to bank -$18,538
Net charge-offs $0
Cash dividends -$18,538
Sale, conversion, retirement of capital stock, net $13,799
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 assets4.35%
Cost of funding earning assets 1.57%
Net interest margin 2.78%
Noninterest income to earning assets 1.05%
Noninterest expense to earning assets 5.37%
Net operating income to assets -3.42%
Return on assets (ROA) -3.23%
Pretax return on assets -3.23%
Return on equity (ROE) -82.99%
Retained earnings to average equity (YTD only) -82.99%
Net charge-offs to loans 3.67%
Credit loss provision to net charge-offs 87.89%
Efficiency ratio-0.54%
Assets per employee$140,267
Cash dividends to net income (YTD only)4.07%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 4.00%
Noncurrent assets plus other real estate owned to assets 29.95%
Noncurrent loans to loans 10.46%
Net loans and leases to deposits13.36%
Net loans and leases to core deposits 66.66%
Equity capital to assets 83.50%
Core capital (leverage) ratio 1.98%
Tier 1 risk-based capital ratio 2.17%
Total risk-based capital ratio 3.20%
Memoranda
Average assets$5
Average earning assets$573,629
Average equity $22,339
Average loans $485,096
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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
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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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