Wachovia Bank of Georgia, National Association in Augusta, Georgia (GA)

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Wachovia Bank of Georgia, National Association
GeneralFDIC Certificate #: 2115
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Wachovia Bank, National Association (#817)
Federal Reserve ID: 787431
Date Established: September 14, 1865
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 134 (Interstate: No)
FDIC's unique #: 1392
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
Oakar Institutions: Yes
State Chartered: No
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: June 01, 1997
Last Structure Change Process Date: June 19, 1997
Last Data Update: June 19, 1997
Data Source Date: April 05, 2012
LocationAddress: 3645 Wheeler Road, Augusta, GA 30909
County: Richmond
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): Augusta-Aiken, GA-SC (#600)
Core Based Statistical Area (CBSA): Augusta-Richmond County, GA-SC (#12260)
CBSA Metro Statistical Area: Augusta-Richmond County, GA-SC (#12260)
Financial SummaryTotal assets: $19,594.6 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$2,661
Cash and due from depository institutions$18,918,575
Interest-bearing balances$1,170,646
Federal funds sold & reverse repurchase agreements$1,403,734
Net loans & leases$1,474,728
Loan loss allowance $13,636,444
Trading account assets$194,525
Bank premises and fixed assets$42,810
Other real estate owned$132,330
Goodwill and other intangibles$1,714
All other assets$13,881
Life insurance assets$1,042,288
Total liabilities and capital$0
Total liabilities$18,918,575
Total deposits$17,579,919
Interest-bearing deposits$9,609,066
Deposits held in domestic offices$7,746,276
% insured (estimated)8460660.00%
Federal funds purchased & repurchase agreements $69
Trading liabilities$4,983,474
Other borrowed funds $16,242
Subordinated debt $1,514,503
All other liabilities $600,000
Total equity capital$856,634
Total bank equity capital$856,634
Perpetual preferred stock$1,338,656
Common stock$0
Undivided profits $484,150
Noncurrent loans and leases $839,593
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $57,576
Earning assets $60,410
Long-term assets (5+ years) $16,538,061
Average Assets, year-to-date $1,132,172
Average Assets, quarterly $18,127,706
Volatile liabilities $18,835,882
Insider loans $8,220,339
FHLB advances $380,813
Loans and leases held for sale $0
Unused loan commitments $64,766
Tier 1 (core) risk-based capital $22,855,681
Tier 2 risk-based capital $0
Total risk weighted assets $1,319,155
Total unused commitments $21,973,472
Restructured Loans and leases $0
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Income and Expense (December 31, 1996)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $1,339,641
Net interest income $726,657
Provision for loan and lease losses $612,984
Total noninterest income $151,289
Fiduciary activities $350,388
Service charges on deposit accounts $25,203
Trading account gains & fees $87,750
Additional noninterest income $5,728
Total noninterest expense $231,707
Salaries and employee benefits $516,910
Premises and equipment expense $120,078
Additional noninterest expense $44,631
Pre-tax net operating income $352,201
Securities gains (losses) $295,173
Applicable income taxes $160
Income before extraordinary items $102,493
Extraordinary gains - net $192,840
Net income attributable to bank $0
Net charge-offs $192,840
Cash dividends $131,204
Sale, conversion, retirement of capital stock, net $117,300
Net operating income $447
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Performance and Condition Ratios (December 31, 1996)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 8.31%
Net interest margin 4.51%
Noninterest income to earning assets 3.80%
Noninterest expense to earning assets 2.17%
Net operating income to assets 3.21%
Return on assets (ROA) 1.06%
Pretax return on assets 1.06%
Return on equity (ROE) 1.63%
Retained earnings to average equity (YTD only) 14.86%
Net charge-offs to loans 5.82%
Credit loss provision to net charge-offs 0.99%
Efficiency ratio115.31%
Assets per employee$53,366
Cash dividends to net income (YTD only)7.11%
Condition Ratios (%)
Loss allowance to loans 60.83%
Loss allowance to noncurrent loans 1.41%
Noncurrent assets plus other real estate owned to assets 337.86%
Noncurrent loans to loans 0.31%
Net loans and leases to deposits0.42%
Net loans and leases to core deposits 141.91%
Equity capital to assets 172.91%
Core capital (leverage) ratio 7.08%
Tier 1 risk-based capital ratio 7.23%
Total risk-based capital ratio 6.00%
Average assets$9
Average earning assets$18,127,706
Average equity $1,297,580
Average loans $16,117,131
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