Progressive State Bank
Lumberton, NC — Domestic Branch of a Domestic Bank
Acquired Jul 2006
Vitals
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Total Assets63.4M 8.7 %
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Total Deposits55.7M 9.2 %
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Total Net Loans33.8M 0.0 %
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Net Income292000.0000 -1.0 %
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Book Value7.2M 3.9 %
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Book Value x214.4M 3.9 %
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Book Value x321.7M 3.9 %
Balance Sheet Highlights
| Financial Highlights | Progressive State Bank | All Insured Commercial Banks in North Carolina |
| Balance Sheet $(000) | ||
| Total Assets | 63,374 | 993,353 |
| Total Net Loans | 33,816 | 672,148 |
| Total Deposits | 55,715 | 739,420 |
| Total Equity | 7,219 | 115,517 |
| Profitability | ||
| Net Income | 292 | 181,948 |
| Return on Average Assets | .933 | 1.046 |
| Return on Average Equity | 8.13 | 10.762 |
| Net Interest Margin | 4.621 | 4.353 |
| Efficiency Ratio | 73.502 | 74.294 |
| Noninterest Income/Revenue | 17.011 | 40.689 |
| Balance Sheet Ratios | ||
| Loan-to-Deposit | 60.695 | 91.617 |
| Securities/Assets | .162 | 5.536 |
| Total Equity/Total Assets | .114 | .116 |
| Tangible Equity/Tangible Assets | .114 | -2.405 |
| Capital Adequacy | ||
| Tier 1 Common Capital | — | — |
| Tier 1 Capital | 7,136 | 88,002 |
| Tier 2 Capital | 480 | 11,525 |
| Total Capital | 7,616 | 99,506 |
| Total Risk Weighted Assets | 38,253 | 756,923 |
| Leverage Ratio | 11.23 | 12.107 |
| Common Equity Tier 1 Capital Ratio | — | — |
| Tier 1 Capital Ratio | 18.65 | 14.364 |
| Total Capital Ratio | 19.91 | 15.702 |
Timeline for Progressive State Bank
New Century Bank South
Progressive State Bank was acquired by New Century Bank South 19 years
View Profile Jul 14 2006
Progressive State Bank
Progressive State Bank was established 47 years ago and is currently headquartered in Lumberton, NC.
Sep 01 1978| Acquisitions & Mergers | Role | Assets | Acct Method | Type | Transaction Date |
| New Century Bank South | Buyer | 215,869 | Acquisition | Discontinued | 7/14/2006 |
| Relationships | Role | Relationship Start | Relationship End |
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