Bank of North Carolina (merged into Pinnacle Bank)
Bank of North Carolina reported total assets of $7.6 bn at Q1 2017, its last Call Report before it merged into Pinnacle Bank. The CET1 capital ratio at Bank of North Carolina was 11.72%, and the uninsured share of Bank of North Carolina was 25.96%. Source: FDIC Call Reports.
Key takeaways
- Since , Bank of North Carolina has taken over 2 institutions; the latest was High Point Bank and Trust Company on (FDIC Call Reports).
What sets Bank of North Carolina apart
How large is Bank of North Carolina?
The balance sheet of Bank of North Carolina at : assets $7.6 bn, deposits $6.3 bn, net loans $5.6 bn (loans equal to 88.49% of deposits). Securities make up 11.8% of total assets at Bank of North Carolina. Since , when Bank of North Carolina held $5.7 bn, its assets grew 32.8%. In the year to , deposits at Bank of North Carolina rose 32.4% while its total assets rose 32.8%. At , Bank of North Carolina employed 1,032 full-time equivalent staff across 81 offices, about $7.3 mn of assets per employee and $78.2 mn of deposits per office.
How much funding at Bank of North Carolina is uninsured?
At Bank of North Carolina, uninsured deposits (above the FDIC limit) made up 25.96% of domestic deposits at (+3.77 pp on a year earlier). In dollars, Bank of North Carolina estimated $1.6 bn of uninsured deposits.
Key facts, Q1 2017
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $6.3 bn | $4.8 bn (Q1 2016) | |
| Net loans and leases | $5.6 bn | $4.2 bn (Q1 2016) | |
| Loan-to-deposit ratio | 88.49% | 88.58% (Q1 2016) | |
| Tier 1 leverage ratio | 10.37% | 9.72% (Q1 2016) | |
| Total risk-based capital ratio | 12.35% | 11.59% (Q1 2016) | |
| Net interest margin | 3.71% | 3.92% (Q1 2016) | |
| Return on assets (ROA) | 0.96% | 1.10% (Q1 2016) | |
| Efficiency ratio | 60.69% | 57.31% (Q1 2016) | |
| Unrealized gain/loss on held-to-maturity securities | Loss of $2.2 mn | Turned from a gain into a loss | |
| Unrealized gain/loss on available-for-sale securities | Gain of $3.2 mn | Fell by $4.1 mn | |
| Noncurrent loans to total loans | 0.33% | 0.44% (Q1 2016) | |
| Net charge-offs to average loans | -0.05% | -0.02% (Q1 2016) |
US rank of Bank of North Carolina: 1 = highest unless marked 1 = lowest.
Balance sheet
Bank of North Carolina: assets, deposits and loans
- Total assets $7.6bn
- Deposits $6.3bn
- Net loans $5.6bn
Capital and securities
The CET1 ratio of Bank of North Carolina stood at 11.72% in , +0.80 pp year on year. Low and high at Bank of North Carolina since : 10.92% () to 11.75% (). Equity capital of Bank of North Carolina at : $1.0 bn, or 13.3% of total assets. Bank of North Carolina also reported a total capital ratio of 12.35% for , and a tier 1 leverage ratio of 10.37%.
On held-to-maturity securities, Bank of North Carolina carried an unrealized loss of $2.2 mn at , equal to 0.2% of equity capital. The loss turned from a gain into a loss over the year. The available-for-sale portfolio of Bank of North Carolina showed an unrealized gain of $3.2 mn at ; the gain fell by $4.1 mn over the year.
Bank of North Carolina: capital ratios
- Total capital 12%
- CET1 12%
- Tier 1 leverage 10%
Bank of North Carolina: unrealized securities gains and losses
- Available for sale $3mn
- Held to maturity -$2mn
Profitability and loan quality
For the year to , Bank of North Carolina earned a return on equity of 7.26%; return on assets: 0.96%. Net interest margin at Bank of North Carolina: 3.71%, -0.21 pp in a year. Bank of North Carolina net income: $18.0 mn, up 15.6% year on year. The efficiency ratio of Bank of North Carolina was 60.69%: about 61 cents cost per revenue dollar, against 58 cents at the median peer.
At , noncurrent loans were 0.33% of total loans at Bank of North Carolina; net charge-offs: -0.05% of average loans. Gross loans and leases at Bank of North Carolina: $5.6 bn at , against $4.3 bn at .
Bank of North Carolina: profitability
- Return on equity 7.3%
- Net interest margin 3.7%
- Return on assets 1.0%
Peer group of Bank of North Carolina
The peer group of Bank of North Carolina is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 4 share the charter type of Bank of North Carolina (state nonmember bank) and 0 have head offices in North Carolina. Against them, Bank of North Carolina shows CET1 ratio 11.72% against a peer median of 12.12%, return on equity 7.26% against a peer median of 11.07% and uninsured deposit share 25.96% against a peer median of 19.90%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Rockland Trust Company | State nonmember bank | MA | $7.7 bn | 12.01% | 9.15% | 29.32% | |
| The Park National Bank | National bank | OH | $7.7 bn | 10.14% | 14.56% | 16.85% | |
| Optum Bank, Inc. | State nonmember bank | UT | $7.7 bn | 13.75% | 12.31% | 0.21% | |
| Bank of North Carolina | State nonmember bank | NC | $7.6 bn | 11.72% | 7.26% | 25.96% | |
| Bank Leumi USA | State nonmember bank | NY | $7.3 bn | 11.02% | 7.11% | 63.02% | |
| First Merchants Bank | State nonmember bank | IN | $7.3 bn | 12.23% | 9.84% | 21.85% | |
| BancFirst | State member bank | OK | $7.2 bn | 12.70% | 12.61% | 17.95% | |
. FDIC Call Reports.
Last eight quarters
Two years at Bank of North Carolina, to : assets $5.7 bn to $7.6 bn, deposits $4.8 bn to $6.3 bn, equity $688.4 mn to $1.0 bn. Staff 846 to 1,032; offices 62 to 81.
| Metric | Q1 2016 | Q2 2016 | Q3 2016 | Q4 2016 | Q1 2017 |
|---|---|---|---|---|---|
| Total assets | $5.7 bn | $6.5 bn | $6.8 bn | $7.4 bn | $7.6 bn |
| Total deposits | $4.8 bn | $5.4 bn | $5.7 bn | $6.1 bn | $6.3 bn |
| Bank equity capital | $688.4 mn | $808.4 mn | $829.8 mn | $980.5 mn | $1.0 bn |
| CET1 ratio | 10.92% | 10.94% | 11.02% | 11.75% | 11.72% |
| Return on equity (ROE) | 9.16% | 8.82% | 9.01% | 8.53% | 7.26% |
| Uninsured share of domestic deposits | 22.19% | 21.81% | 23.96% | 25.91% | 25.96% |
| Full-time equivalent employees | 846 | 896 | 886 | 1,040 | 1,032 |
| Number of offices | 62 | 72 | 73 | 81 | 81 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Bank of North Carolina, oldest first; figures before and after each event are not like for like.
- . Absorbed SouthCoast Community Bank (FDIC certificate 34774).
- . Absorbed High Point Bank and Trust Company (FDIC certificate 12267).
- . Merged into Pinnacle Bank (FDIC certificate 35583).
Questions and identifiers
What were the total assets of Bank of North Carolina?
Bank of North Carolina reported $7.6 bn at in its Call Report.
Is Bank of North Carolina the same as its holding company?
No. This page covers Bank of North Carolina, FDIC certificate 33527; BNC BCORP (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Bank of North Carolina profitable?
Bank of North Carolina reported net income of $18.0 mn for the year to ; annualized return on equity: 7.26%. So yes: Bank of North Carolina made a profit over these months.
When is data for Bank of North Carolina next updated?
Bank of North Carolina no longer files Call Reports; its data ends at .
Where can I check the figures for Bank of North Carolina?
In the FDIC BankFind Suite record for certificate 33527, and in the Call Reports of Bank of North Carolina (RSSD ID 1908082) at the FFIEC Central Data Repository.