Citizens South Bank
Gastonia, NC — Domestic Branch of a Domestic Bank
Acquired Oct 2012
Vitals
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Total Assets938.2M
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Total Deposits826.7M
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Total Net Loans695.7M
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Net Income-10482000.0000
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Book Value93.6M
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Book Value x2187.1M
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Book Value x3280.7M
Balance Sheet Highlights
| Financial Highlights | Citizens South Bank | All Insured Savings Banks in North Carolina |
| Balance Sheet $(000) | ||
| Total Assets | 938,239 | 262,415 |
| Total Net Loans | 695,711 | 170,366 |
| Total Deposits | 826,693 | 213,833 |
| Total Equity | 93,574 | 33,096 |
| Profitability | ||
| Net Income | -10,482 | 256 |
| Return on Average Assets | -1.335 | .303 |
| Return on Average Equity | -13.914 | 1.894 |
| Net Interest Margin | 3.593 | 3.405 |
| Efficiency Ratio | 133.069 | 78.177 |
| Noninterest Income/Revenue | 5.211 | 7.645 |
| Balance Sheet Ratios | ||
| Loan-to-Deposit | 84.156 | 81.313 |
| Securities/Assets | .094 | .114 |
| Total Equity/Total Assets | .1 | .126 |
| Tangible Equity/Tangible Assets | .099 | .126 |
| Capital Adequacy | ||
| Tier 1 Common Capital | — | — |
| Tier 1 Capital | 92,455 | 32,482 |
| Tier 2 Capital | 8,773 | 1,778 |
| Total Capital | 101,228 | 34,260 |
| Total Risk Weighted Assets | 698,771 | 157,483 |
| Leverage Ratio | 9.86 | 13.318 |
| Common Equity Tier 1 Capital Ratio | — | — |
| Tier 1 Capital Ratio | 13.23 | 24.56 |
| Total Capital Ratio | 14.49 | 25.581 |
Timeline for Citizens South Bank
Park Sterling Bank
Citizens South Bank was acquired by Park Sterling Bank 11 years
View Profile Oct 10 2012
Park Sterling Corporation
Park Sterling Corporation became a new parent organization for Citizens South Bank.
View Profile Oct 01 2012
Park Sterling Financial Services, Inc.
Park Sterling Financial Services, Inc. became a new subsidiary organization for Citizens South Bank.
View Profile Jul 21 2011
New Horizons Bank
Acquisition: Citizens South Bank acquired a new subsidiary, New Horizons Bank, 13 years
View Profile Apr 16 2011
Bank Of Hiawassee
Acquisition: Citizens South Bank acquired a new subsidiary, Bank Of Hiawassee, 14 years
View Profile Mar 20 2010
| Acquisitions & Mergers | Role | Assets | Acct Method | Type | Transaction Date |
| Park Sterling Bank | Buyer | 3,219,651 | Pooling of Interests | Discontinued | 10/10/2012 |
| New Horizons Bank | Seller | 103,055 | Failure | 4/16/2011 | |
| Bank Of Hiawassee | Seller | 377,779 | Failure | 3/20/2010 | |
| Trinity Bank | Seller | 163,994 | Discontinued | 11/1/2005 | |
| Citizens Bank, Inc. | Seller | 218,313 | Discontinued | 1/1/2002 | |
| Mount Holly Federal Savings And Loan Association | Seller | Discontinued | 5/1/1982 |
| Relationships | Role | Relationship Start | Relationship End |
| Park Sterling Corporation | Parent | 10/1/2012 | 10/9/2012 |
| Citizens South Banking Corporation | Parent | 7/21/2011 | 9/30/2012 |
| Citizens South Banking Corporation | Parent | 4/9/1998 | 7/20/2011 |
| Park Sterling Financial Services, Inc. | Subsidary | 7/21/2011 | 10/9/2012 |
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