CharterBank
CharterBank reported total assets of $1.6 bn at Q2 2018, its last Call Report before it merged into CenterState Bank, National Association. Its common equity tier 1 ratio was 14.76%, and an estimated 15.17% of domestic deposits were uninsured. Source: FDIC Call Report data, cross-checked against FFIEC filings.
- Uninsured share of domestic deposits: down 1.04 pp on Q1 2018, to 15.17%
- Common equity tier 1 (CET1) ratio: up 0.67 pp on Q1 2018, to 14.76%
- Bank equity capital: up 2.7% on Q1 2018, to $219.6 mn
Ranks compare banks in our US coverage that report each metric. Sparklines: the last ten years. Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Overview
What stands out about CharterBank?
Its largest one-quarter change in total assets since Q1 2016 was +35.9% between Q1 2016 and Q2 2016, when it absorbed Community Bank of the South.
How large is CharterBank?
At Q2 2018 the bank held $1.6 bn of assets. Deposits were $1.3 bn and net loans and leases $1.2 bn, a loan-to-deposit ratio of 86.03%. Securities of $157.2 mn made up 9.6% of assets.
Total assets rose 55.2% between Q1 2016 and Q2 2018, from $1.0 bn.
How much of its funding is uninsured?
An estimated 15.17% of domestic deposits were above the FDIC insurance limit at Q2 2018, -1.04 pp from the previous quarter and +1.77 pp from a year earlier.
Key facts, Q2 2018
| Metric | Value | Change from a year earlier | US rank |
|---|---|---|---|
| Total assets | $1.6 bn | +10.2% | |
| Total deposits | $1.3 bn | +10.3% | |
| Net loans and leases | $1.2 bn | +11.6% | |
| Bank equity capital | $219.6 mn | +7.8% | |
| Common equity tier 1 (CET1) ratio | 14.76% | -0.93 pp | |
| Tier 1 leverage ratio | 11.29% | -0.77 pp | |
| Return on equity (ROE) | 11.24% | +3.37 pp | |
| Net interest margin | 4.04% | +0.42 pp | |
| Uninsured share of domestic deposits | 15.17% | +1.77 pp | |
| Noncurrent loans to total loans | 0.14% | -0.04 pp | |
| Net charge-offs to average loans | -0.13% | -0.04 pp |
US rank: rank among the banks in our coverage reporting each metric, 1 = highest unless marked 1 = lowest.
Balance sheet
Total assets, deposits and net loans, quarterly, Q1 2016 to Q2 2018. Dashed amber lines mark the mergers and acquisitions listed under Mergers and acquisitions.
- Total assets $1.6bn
- Deposits $1.3bn
- Net loans $1.2bn
Capital and securities
The common equity tier 1 (CET1) ratio was 14.76% at Q2 2018, -0.93 pp from a year earlier. Since Q1 2016 it has ranged from 13.53% (Q3 2017) to 21.76% (Q1 2016). At Q2 2018 the tier 1 leverage ratio was 11.29% and the total risk-based capital ratio 15.70%. The median CET1 ratio of the size peers listed below was 11.61% at Q2 2018.
Available-for-sale securities showed an unrealized loss of $4.6 mn at Q2 2018; the loss widened by $2.4 mn from a year earlier.
Capital ratios
- Total capital 16%
- CET1 15%
- Tier 1 leverage 11%
Unrealized gains and losses on securities
- Available for sale -$5mn
- Held to maturity $0
Profitability and loan quality
Return on equity was 11.24% for the year to Q2 2018, annualized, with a return on assets of 1.46% and a net interest margin of 4.04%. The margin was +0.42 pp from a year earlier. The efficiency ratio, noninterest expense as a share of revenue as the FDIC defines it, was 58.45%. Net income for the year to Q2 2018 was $12.0 mn, up 53.3% on the same period a year earlier. The median return on equity of its size peers was 8.87% for the same period.
Noncurrent loans, those 90 days or more past due or no longer accruing interest, were 0.14% of total loans at Q2 2018. Net charge-offs for the year to date were -0.13% of average loans, annualized.
Profitability
- Return on equity 11%
- Net interest margin 4.0%
- Return on assets 1.5%
Compared with banks of similar size
The six banks ranked closest to CharterBank by total assets at Q2 2018, three above and three below where possible.
Among the seven banks in the table at Q2 2018, CharterBank is 4th by total assets. Its CET1 ratio of 14.76% compares with a peer median of 11.61%, its tier 1 leverage ratio of 11.29% compares with a peer median of 9.62%, and its return on equity of 11.24% compares with a peer median of 8.87%.
| Bank | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|
| First Bank | $1.6 bn | 10.86% | 9.38% | 31.50% | |
| Carrollton Bank | $1.6 bn | 9.29% | 15.96% | 33.46% | |
| First Dakota National Bank | $1.6 bn | 10.47% | 4.86% | 17.86% | |
| CharterBank | $1.6 bn | 14.76% | 11.24% | 15.17% | |
| Entegra Bank | $1.6 bn | 12.48% | 8.35% | 26.96% | |
| Lakeside Bank | $1.6 bn | 13.72% | 4.04% | 24.66% | |
| PCB Bank | $1.6 bn | 12.37% | 15.85% | 31.23% | |
Q2 2018. Peer median (the six banks, excluding this one): CET1 11.61%, return on equity 8.87%. Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Last eight quarters
CharterBank, as reported in its Call Reports.
From Q3 2016 to Q2 2018, total assets rose 13.1% to $1.6 bn, deposits rose 13.2% to $1.3 bn and bank equity capital rose 13.8% to $219.6 mn. Over the same period its full-time equivalent staff went from 323 to 344 and its offices went from 21 to 23.
| Metric | Q3 2016 | Q4 2016 | Q1 2017 | Q2 2017 | Q3 2017 | Q4 2017 | Q1 2018 | Q2 2018 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $1.4 bn | $1.5 bn | $1.5 bn | $1.5 bn | $1.6 bn | $1.6 bn | $1.7 bn | $1.6 bn |
| Total deposits | $1.2 bn | $1.2 bn | $1.2 bn | $1.2 bn | $1.4 bn | $1.4 bn | $1.4 bn | $1.3 bn |
| Bank equity capital | $192.9 mn | $195.5 mn | $199.3 mn | $203.7 mn | $204.3 mn | $209.0 mn | $213.8 mn | $219.6 mn |
| Common equity tier 1 (CET1) ratio | 14.34% | 14.96% | 15.57% | 15.69% | 13.53% | 13.71% | 14.09% | 14.76% |
| Return on equity (ROE) | 6.15% | 7.45% | 7.79% | 7.87% | 7.26% | 8.00% | 11.26% | 11.24% |
| Uninsured share of domestic deposits | 12.10% | 14.33% | 13.02% | 13.40% | 15.91% | 17.17% | 16.21% | 15.17% |
| Full-time equivalent employees | 323 | 323 | 330 | 340 | 356 | 349 | 350 | 344 |
| Number of offices | 21 | 21 | 21 | 21 | 23 | 23 | 23 | 23 |
Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Mergers and acquisitions
Figures before and after each event are not like for like.
- . Absorbed Community Bank of the South (FDIC certificate 35036).
- . Absorbed Resurgens Bank (FDIC certificate 58750).
- . Merged into CenterState Bank, National Association (FDIC certificate 33555).
Large one-quarter moves
- Total assets changed by +35.9% in the quarter to 2016-06-30: Absorbtion - Without Assistance; Participated in Absorbtion/Consolidation/Merger: acquired from Community Bank of the South.
Source: FDIC BankFind API, institution history. Moves of more than 25% in one quarter are checked against that history in our review.
Identifiers and sources
- FDIC certificate
- 30720
- Federal Reserve RSSD ID
- 551070
- Head office
- West Point, Georgia
- Holding company
- CHARTER FINANCIAL CORP (as reported to the FDIC)
- Holding company RSSD ID
- 4459839
- EconoMonitor ID
- EMB-US-000704
Frequently asked questions
What were CharterBank's total assets?
$1.6 bn at Q2 2018, according to its Call Report as published by the FDIC.
Is CharterBank the same as its holding company?
No. This page covers the FDIC-insured bank (certificate 30720). Its holding company, CHARTER FINANCIAL CORP (as reported to the FDIC), reports separately to the Federal Reserve and, if its shares are listed, to the SEC.
How often is this page updated?
Every quarter, after CharterBank files its Call Report and the FDIC publishes it. This page shows Q2 2018, loaded on 19 October 2026; any sentence that uses an earlier quarter names it.
Where can I check these numbers?
In the FDIC BankFind Suite record for certificate 30720, and in the Call Reports filed under RSSD ID 551070 at the FFIEC Central Data Repository.
Sources and definitions
Definitions, Call Report fields and formulas for each metric: Bank equity capital, Common equity tier 1 (CET1) ratio, Deposits in domestic offices, Efficiency ratio, Full-time equivalent employees, Loan-to-deposit ratio, Total loans and leases (gross), Net loans and leases, Net charge-offs to average loans, Net income (year to date), Net interest margin, Noncurrent loans to total loans, Number of offices, Return on assets (ROA), Return on equity (ROE), Available-for-sale securities (amortized cost), Available-for-sale securities (fair value), Held-to-maturity securities (amortized cost), Held-to-maturity securities (fair value), Total securities, Tier 1 leverage ratio, Total assets, Total deposits, Total equity capital, Total risk-based capital ratio, Uninsured share of domestic deposits, Estimated uninsured deposits, Unrealized gain/loss on available-for-sale securities, Unrealized gain/loss on held-to-maturity securities.
Checks for this release: Check A (database against the FDIC download) passed, Check B (FDIC against FFIEC Call Report filings) passed.
Source: FDIC BankFind Suite (Call Report data). EconoMonitor is not affiliated with or endorsed by the FDIC. FDIC BankFind Suite API.
Source: FFIEC Central Data Repository (Call Reports). EconoMonitor is not affiliated with or endorsed by the FFIEC. FFIEC Central Data Repository, Public Data Distribution.
Data and analysis only, not financial advice. The FDIC and the FFIEC do not endorse EconoMonitor. See the disclaimer and methodology.