Park Sterling Bank (merged into South State Bank)
Park Sterling Bank reported total assets of $3.2 bn at Q3 2017, its last Call Report before it merged into South State Bank. The CET1 capital ratio at Park Sterling Bank was 13.42%, and the uninsured share of Park Sterling Bank was 24.98%. Source: FDIC Call Reports.
What sets Park Sterling Bank apart
Nothing in the latest data sets Park Sterling Bank apart from banks of its size: no ratio in the top or bottom tenth of its size group, no large rank move or year change, and no acquisition in the FDIC history since 2016. This page is kept out of search results until that changes.
How large is Park Sterling Bank?
The balance sheet of Park Sterling Bank at : assets $3.2 bn, deposits $2.5 bn, net loans $2.4 bn (loans equal to 97.72% of deposits). Securities make up 14.2% of total assets at Park Sterling Bank. Since , when Park Sterling Bank held $3.1 bn, its assets grew 3.0%. In the year to , deposits at Park Sterling Bank fell 0.6% while its total assets rose 0.6%. At , Park Sterling Bank employed 501 full-time equivalent staff across 58 offices, about $6.5 mn of assets per employee and $42.7 mn of deposits per office.
How much funding at Park Sterling Bank is uninsured?
At Park Sterling Bank, uninsured deposits (above the FDIC limit) made up 24.98% of domestic deposits at (+1.41 pp on a year earlier). In dollars, Park Sterling Bank estimated $618.4 mn of uninsured deposits.
Key facts, Q3 2017
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $2.5 bn | $2.5 bn (Q3 2016) | |
| Net loans and leases | $2.4 bn | $2.4 bn (Q3 2016) | |
| Loan-to-deposit ratio | 97.72% | 95.23% (Q3 2016) | |
| Tier 1 leverage ratio | 11.09% | 11.00% (Q3 2016) | |
| Total risk-based capital ratio | 13.89% | 13.37% (Q3 2016) | |
| Net interest margin | 3.85% | 3.98% (Q3 2016) | |
| Return on assets (ROA) | 1.14% | 0.80% (Q3 2016) | |
| Efficiency ratio | 57.41% | 69.20% (Q3 2016) | |
| Unrealized gain/loss on held-to-maturity securities | Gain of $1.7 mn | Fell by $2.6 mn | |
| Unrealized gain/loss on available-for-sale securities | Loss of $220,000 | Turned from a gain into a loss | |
| Noncurrent loans to total loans | 0.30% | 0.37% (Q3 2016) | |
| Net charge-offs to average loans | 0.00% | -0.03% (Q3 2016) |
US rank of Park Sterling Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
Park Sterling Bank: assets, deposits and loans
- Total assets $3.2bn
- Deposits $2.5bn
- Net loans $2.4bn
Capital and securities
The CET1 ratio of Park Sterling Bank stood at 13.42% in , +0.50 pp year on year. Low and high at Park Sterling Bank since : 12.78% () to 13.42% (). Equity capital of Park Sterling Bank at : $427.4 mn, or 13.2% of total assets. Park Sterling Bank also reported a total capital ratio of 13.89% for , and a tier 1 leverage ratio of 11.09%.
On held-to-maturity securities, Park Sterling Bank carried an unrealized gain of $1.7 mn at , equal to 0.4% of equity capital. The gain fell by $2.6 mn over the year. The available-for-sale portfolio of Park Sterling Bank showed an unrealized loss of $220,000 at ; the loss turned from a gain into a loss over the year.
Park Sterling Bank: capital ratios
- Total capital 14%
- CET1 13%
- Tier 1 leverage 11%
Park Sterling Bank: unrealized securities gains and losses
- Available for sale -$220,000
- Held to maturity $2mn
Profitability and loan quality
For the year to , Park Sterling Bank earned a return on equity of 8.95%; return on assets: 1.14%. Net interest margin at Park Sterling Bank: 3.85%, -0.13 pp in a year. Park Sterling Bank net income: $27.9 mn, up 54.5% year on year. The efficiency ratio of Park Sterling Bank was 57.41%: about 57 cents cost per revenue dollar, against 70 cents at the median peer.
At , noncurrent loans were 0.30% of total loans at Park Sterling Bank; net charge-offs: 0.00% of average loans. Gross loans and leases at Park Sterling Bank: $2.4 bn at , against $2.4 bn at .
Park Sterling Bank: profitability
- Return on equity 8.9%
- Net interest margin 3.8%
- Return on assets 1.1%
Peer group of Park Sterling Bank
The peer group of Park Sterling Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 2 share the charter type of Park Sterling Bank (state nonmember bank) and 1 has its head office in North Carolina. Against them, Park Sterling Bank shows CET1 ratio 13.42% against a peer median of 11.94%, return on equity 8.95% against a peer median of 10.38% and uninsured deposit share 24.98% against a peer median of 33.13%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Institution for Savings in Newburyport and Its Vicinity | State-chartered stock savings bank | MA | $3.3 bn | 11.83% | 11.50% | 25.57% | |
| Xenith Bank | State member bank | VA | $3.3 bn | 12.16% | 5.77% | 37.95% | |
| HomeTrust Bank | State member bank | NC | $3.2 bn | 11.53% | 3.99% | 14.25% | |
| Park Sterling Bank | State nonmember bank | NC | $3.2 bn | 13.42% | 8.95% | 24.98% | |
| Merchants Bank of Indiana | State nonmember bank | IN | $3.2 bn | 12.36% | 18.96% | 33.96% | |
| Mercantile Bank | State nonmember bank | MI | $3.2 bn | 11.83% | 9.40% | 37.12% | |
| Firstrust Savings Bank | State-chartered stock savings bank | PA | $3.2 bn | 12.05% | 11.36% | 32.30% | |
. FDIC Call Reports.
Last eight quarters
Two years at Park Sterling Bank, to : assets $3.1 bn to $3.2 bn, deposits $2.5 bn to $2.5 bn, equity $397.9 mn to $427.4 mn. Staff 552 to 501; offices 61 to 58.
| Metric | Q1 2016 | Q2 2016 | Q3 2016 | Q4 2016 | Q1 2017 | Q2 2017 | Q3 2017 |
|---|---|---|---|---|---|---|---|
| Total assets | $3.1 bn | $3.2 bn | $3.2 bn | $3.2 bn | $3.3 bn | $3.3 bn | $3.2 bn |
| Total deposits | $2.5 bn | $2.5 bn | $2.5 bn | $2.5 bn | $2.5 bn | $2.5 bn | $2.5 bn |
| Bank equity capital | $397.9 mn | $402.7 mn | $408.1 mn | $407.8 mn | $411.0 mn | $419.2 mn | $427.4 mn |
| CET1 ratio | 12.91% | 12.99% | 12.92% | 12.98% | 12.78% | 12.86% | 13.42% |
| Return on equity (ROE) | 4.42% | 5.81% | 6.40% | 6.41% | 7.99% | 8.80% | 8.95% |
| Uninsured share of domestic deposits | 21.73% | 23.80% | 23.58% | 25.02% | 25.03% | 25.03% | 24.98% |
| Full-time equivalent employees | 552 | 529 | 542 | 540 | 532 | 522 | 501 |
| Number of offices | 61 | 60 | 60 | 59 | 58 | 58 | 58 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Park Sterling Bank, oldest first; figures before and after each event are not like for like.
- . Absorbed First Capital Bank (FDIC certificate 34802).
- . Merged into South State Bank (FDIC certificate 13425).
Questions and identifiers
What were the total assets of Park Sterling Bank?
Park Sterling Bank reported $3.2 bn at in its Call Report.
Is Park Sterling Bank the same as its holding company?
No. This page covers Park Sterling Bank, FDIC certificate 58408; PARK STERLING CORP (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Park Sterling Bank profitable?
Park Sterling Bank reported net income of $27.9 mn for the year to ; annualized return on equity: 8.95%. So yes: Park Sterling Bank made a profit over these months.
When is data for Park Sterling Bank next updated?
Park Sterling Bank no longer files Call Reports; its data ends at .
Where can I check the figures for Park Sterling Bank?
In the FDIC BankFind Suite record for certificate 58408, and in the Call Reports of Park Sterling Bank (RSSD ID 3470985) at the FFIEC Central Data Repository.