State Bank and Trust Company (merged into Cadence Bank)
State Bank and Trust Company reported total assets of $4.9 bn at Q4 2018, its last Call Report before it merged into Cadence Bank. The CET1 capital ratio at State Bank and Trust Company was 12.53%, and the uninsured share of State Bank and Trust Company was 20.26%. Source: FDIC Call Reports.
Key takeaways
- Since , State Bank and Trust Company has taken over 3 institutions; the latest was AloStar Bank of Commerce on (FDIC Call Reports).
What sets State Bank and Trust Company apart
How large is State Bank and Trust Company?
The balance sheet of State Bank and Trust Company at : assets $4.9 bn, deposits $4.1 bn, net loans $3.5 bn (loans equal to 84.09% of deposits). Securities make up 13.7% of total assets at State Bank and Trust Company. Since , when State Bank and Trust Company held $3.5 bn, its assets grew 37.9%. In the year to , deposits at State Bank and Trust Company fell 3.5% while its total assets fell 1.9%. At , State Bank and Trust Company employed 638 full-time equivalent staff across 33 offices, about $7.6 mn of assets per employee and $125.7 mn of deposits per office.
How much funding at State Bank and Trust Company is uninsured?
At State Bank and Trust Company, uninsured deposits (above the FDIC limit) made up 20.26% of domestic deposits at (+0.12 pp on a year earlier). In dollars, State Bank and Trust Company estimated $840.5 mn of uninsured deposits.
Key facts, Q4 2018
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $4.1 bn | $4.3 bn (Q4 2017) | |
| Net loans and leases | $3.5 bn | $3.5 bn (Q4 2017) | |
| Loan-to-deposit ratio | 84.09% | 82.35% (Q4 2017) | |
| Tier 1 leverage ratio | 11.06% | 9.90% (Q4 2017) | |
| Total risk-based capital ratio | 13.26% | 11.77% (Q4 2017) | |
| Net interest margin | 4.96% | 4.60% (Q4 2017) | |
| Return on assets (ROA) | 1.65% | 1.06% (Q4 2017) | |
| Efficiency ratio | 56.57% | 57.76% (Q4 2017) | |
| Unrealized gain/loss on available-for-sale securities | Loss of $8.5 mn | Widened by $5.2 mn | |
| Noncurrent loans to total loans | 1.80% | 0.58% (Q4 2017) | |
| Net charge-offs to average loans | 0.14% | 0.12% (Q4 2017) |
US rank of State Bank and Trust Company: 1 = highest unless marked 1 = lowest.
Balance sheet
State Bank and Trust Company: assets, deposits and loans
- Total assets $4.9bn
- Deposits $4.1bn
- Net loans $3.5bn
Capital and securities
The CET1 ratio of State Bank and Trust Company stood at 12.53% in , +1.43 pp year on year. Low and high at State Bank and Trust Company since : 10.60% () to 15.08% (). Equity capital of State Bank and Trust Company at : $628.3 mn, or 12.9% of total assets. State Bank and Trust Company also reported a total capital ratio of 13.26% for , and a tier 1 leverage ratio of 11.06%.
The available-for-sale portfolio of State Bank and Trust Company showed an unrealized loss of $8.5 mn at ; the loss widened by $5.2 mn over the year.
State Bank and Trust Company: capital ratios
- Total capital 13%
- CET1 13%
- Tier 1 leverage 11%
State Bank and Trust Company: unrealized securities gains and losses
- Available for sale -$9mn
- Held to maturity $0
Profitability and loan quality
For the year to , State Bank and Trust Company earned a return on equity of 13.78%; return on assets: 1.65%. Net interest margin at State Bank and Trust Company: 4.96%, +0.35 pp in a year. State Bank and Trust Company net income: $81.2 mn, up 69.0% year on year. The efficiency ratio of State Bank and Trust Company was 56.57%: about 57 cents cost per revenue dollar, against 59 cents at the median peer.
At , noncurrent loans were 1.80% of total loans at State Bank and Trust Company; net charge-offs: 0.14% of average loans. Gross loans and leases at State Bank and Trust Company: $3.5 bn at , against $3.6 bn at .
State Bank and Trust Company: profitability
- Return on equity 14%
- Net interest margin 5.0%
- Return on assets 1.7%
Peer group of State Bank and Trust Company
The peer group of State Bank and Trust Company 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 State Bank and Trust Company (state nonmember bank) and 1 has its head office in Georgia. Against them, State Bank and Trust Company shows CET1 ratio 12.53% against a peer median of 12.89%, return on equity 13.78% against a peer median of 13.39% and uninsured deposit share 20.26% against a peer median of 20.26%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| RBC Bank, (Georgia) | National bank | GA | $5.0 bn | 24.55% | 18.73% | 4.96% | |
| Byline Bank | State nonmember bank | IL | $4.9 bn | 12.72% | 8.02% | 18.31% | |
| Lake City Bank | State member bank | IN | $4.9 bn | 12.65% | 16.76% | 49.87% | |
| State Bank and Trust Company | State nonmember bank | GA | $4.9 bn | 12.53% | 13.78% | 20.26% | |
| Middlesex Savings Bank | State nonmember bank | MA | $4.8 bn | 16.29% | 6.89% | 22.22% | |
| City National Bank of West Virginia | National bank | WV | $4.8 bn | 13.07% | 16.07% | 5.38% | |
| Origin Bank | State member bank | LA | $4.8 bn | 11.73% | 10.71% | 48.68% | |
. FDIC Call Reports.
Last eight quarters
Two years at State Bank and Trust Company, to : assets $4.2 bn to $4.9 bn, deposits $3.4 bn to $4.1 bn, equity $562.1 mn to $628.3 mn. Staff 734 to 638; offices 34 to 33.
| Metric | Q1 2017 | Q2 2017 | Q3 2017 | Q4 2017 | Q1 2018 | Q2 2018 | Q3 2018 | Q4 2018 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $4.2 bn | $4.2 bn | $5.1 bn | $4.9 bn | $4.9 bn | $5.0 bn | $4.9 bn | $4.9 bn |
| Total deposits | $3.4 bn | $3.5 bn | $4.3 bn | $4.3 bn | $4.3 bn | $4.4 bn | $4.3 bn | $4.1 bn |
| Bank equity capital | $562.1 mn | $554.6 mn | $570.5 mn | $574.8 mn | $563.2 mn | $581.8 mn | $599.3 mn | $628.3 mn |
| CET1 ratio | 13.19% | 12.92% | 10.70% | 11.10% | 10.60% | 11.13% | 11.45% | 12.53% |
| Return on equity (ROE) | 8.52% | 9.85% | 10.02% | 8.55% | 12.53% | 13.42% | 13.45% | 13.78% |
| Uninsured share of domestic deposits | 17.88% | 16.83% | 21.56% | 20.15% | 19.33% | 19.28% | 19.81% | 20.26% |
| Full-time equivalent employees | 734 | 741 | 818 | 825 | 790 | 786 | 685 | 638 |
| Number of offices | 34 | 34 | 33 | 34 | 33 | 33 | 33 | 33 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of State Bank and Trust Company, oldest first; figures before and after each event are not like for like.
- . Absorbed The National Bank of Georgia (FDIC certificate 35338).
- . Absorbed S Bank (FDIC certificate 15926).
- . Absorbed AloStar Bank of Commerce (FDIC certificate 59060).
- . Merged into Cadence Bank, N.A. (FDIC certificate 4999).
Questions and identifiers
What were the total assets of State Bank and Trust Company?
State Bank and Trust Company reported $4.9 bn at in its Call Report.
Is State Bank and Trust Company the same as its holding company?
No. This page covers State Bank and Trust Company, FDIC certificate 57870; STATE BANK FINANCIAL CORP (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is State Bank and Trust Company profitable?
State Bank and Trust Company reported net income of $81.2 mn for the year to ; annualized return on equity: 13.78%. So yes: State Bank and Trust Company made a profit over these months.
When is data for State Bank and Trust Company next updated?
State Bank and Trust Company no longer files Call Reports; its data ends at .
Where can I check the figures for State Bank and Trust Company?
In the FDIC BankFind Suite record for certificate 57870, and in the Call Reports of State Bank and Trust Company (RSSD ID 3384318) at the FFIEC Central Data Repository.