Oconee Federal Savings and Loan Association

Report generated from DepositInsuredBanks.com
DepositInsuredBanks.com


Overview

FDIC Cert 30111
Address
115 East North 2nd Street, Seneca, SC 29678
FDIC Unique Number 42945
Federal Reserve ID 853671
Federal Reserve ID for Bank Holding Company 0
OCC Charter Number 704769
OTS Docket Number 4769
MSA
County Oconee
Website http://www.oconeefederal.com
Established On 01/01/1924
Insured On 09/26/1940
Holding Company
Regulator Office of the Comptroller of the Currency
Asset Concentration Mortgage Lending Specialization
Ownership Type
Domestic Offices 7
Foreign Offices
Bank Charter Class SA - Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)

Recent Changes

Participated in Absorption/Consolidation/Merger

Financial Snapshot

USD, Thousands
Total Assets 468,782
Total Deposits 386,125
Domestic Deposits 386,125
Bank Equity Capital 79,374
Year to Date Quarterly
Net Income USD, 000 4,262 1,534
Return on Assets 1.18% 1.3%
Return on Equity 7.4% 7.84%
Pre-Tax Return on Assets 1.87% 2.14%
as of 09/30/2015

Financial Health

As of 09/30/2015
Low Risk

The Texas ratio is a measure of a bank's credit troubles. It is a way to measure how risky a bank is. The higher the Texas ratio, the more severe the credit troubles. Any bank with a TX Ratio near or greater than 100% is considered at risk. Developed by Gerard Cassidy and others at RBC Capital Markets, it is calculated by dividing the value of the lender's non-performing assets (Non performing loans + Real Estate Owned) by the sum of its tangible common equity capital and loan loss reserves.

Oconee Federal Savings and Loan Association has a texas ratio of 6.23 which puts it at low risk. As of 09/30/2015 the bank had $3,323 Non Current Loans and Leases, $1,682 Other Real Estate Owned, $79,374 Total Equity Capital and $1,011 Loan Loss Allowance.

Historical Texas Ratios

Date Non Current Loans and Leases Other Real Estate Owned Total Equity Capital Loan Loss Allowance TX Ratio
09/30/2015 $3,323 $1,682 $79,374 $1,011 6.23
06/30/2015 $4,177 $2,100 $77,183 $996 8.03
03/31/2015 $11,446 $2,499 $76,351 $868 18.06
12/31/2014 $3,858 $3,234 $74,226 $864 9.44
09/30/2014 $1,576 $595 $71,590 $854 3
06/30/2014 $1,614 $743 $70,518 $854 3.3
03/31/2014 $2,279 $821 $72,977 $829 4.2
12/31/2013 $2,385 $857 $71,400 $788 4.49
09/30/2013 $3,203 $857 $70,523 $832 5.6899999999999995
06/30/2013 $1,981 $1,047 $72,111 $750 4.16
03/31/2013 $1,664 $1,241 $72,253 $748 3.98
12/31/2012 $2,697 $475 $71,237 $866 4.4
09/30/2012 $2,343 $820 $77,379 $930 4.04
06/30/2012 $2,287 $855 $75,829 $857 4.1
03/31/2012 $2,351 $897 $74,190 $818 4.33
12/31/2011 $1,363 $1,339 $72,915 $706 3.67
09/30/2011 $1,493 $2,571 $71,913 $701 5.6
06/30/2011 $324 $2,254 $70,767 $727 3.61
03/31/2011 $3,112 $1,796 $69,712 $701 6.97
12/31/2010 $3,570 $1,400 $61,261 $697 8.02
09/30/2010 $4,899 $543 $60,474 $698 8.9
06/30/2010 $3,951 $750 $59,661 $887 7.76
03/31/2010 $3,017 $1,191 $59,076 $247 7.09
12/31/2009 $3,331 $1,064 $58,425 $242 7.49
09/30/2009 $1,537 $423 $57,778 $247 3.38
06/30/2009 $1,938 $100 $57,027 $259 3.56
03/31/2009 $1,619 $187 $56,440 $255 3.19

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Assets and Liabilities

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
Total employees (full-time equivalent) 80 81 78 80 45 Chart
Total Assets 468,782 477,601 483,469 488,560 357,164 Chart
Cash & Balances due from depository institutions 23,374 33,413 31,692 27,775 15,262 Chart
Interest-bearing balances 18,855 26,880 15,779 25,694 11,692 Chart
Securities 105,105 103,946 97,288 98,225 93,541 Chart
Federal funds sold and reverse repurchase 0 0 0 0 0 Chart
Net loans and leases 303,593 308,390 322,119 330,700 232,914 Chart
Loan loss allowance 1,011 996 868 864 854 Chart
Trading account assets 0 0 0 0 0 Chart
Bank premises and fixed assets 7,015 7,058 7,073 7,086 3,020 Chart
Other real estate owned 1,682 2,100 2,499 3,234 595 Chart
Goodwill and other intangibles 4,763 5,139 5,126 0 0 Chart
All other assets 23,250 17,555 17,672 21,540 11,832 Chart
Total Liabilities and Capital 468,781 477,601 483,469 488,560 357,164 Chart
Total Liabilities 389,407 400,418 407,118 414,334 285,574 Chart
Total deposits 386,125 395,750 403,565 410,875 281,429 Chart
Interest-bearing deposits 364,343 374,964 382,779 387,748 269,587 Chart
Deposits held in domestic offices 386,125 395,750 403,565 410,875 281,429 Chart
% insured (estimated) 96% 96% 96% 96% 97% Chart
Federal funds purchased and repurchase agreements 0 0 0 0 0 Chart
Trading liabilities 0 0 0 0 0 Chart
Other borrowed funds 1,641 1,641 1,641 1,641 1,924 Chart
Subordinated debt 0 0 0 0 0 Chart
All other liabilities 1,641 3,027 1,912 1,818 2,221 Chart
Total equity capital 79,374 77,183 76,351 74,226 71,590 Chart
Bank equity capital 79,374 77,183 76,351 74,226 71,590 Chart
Perpetual preferred stock 0 0 0 0 0 Chart
Common stock 0 0 0 0 0 Chart
Surplus 13,492 13,377 13,261 13,148 12,926 Chart
Undivided profits 65,882 63,806 63,090 61,078 58,664 Chart
Equity, minor interest in consolidated subs 0 0 0 0 0 Chart
Memoranda
Noncurrent loans and leases 3,323 4,177 11,446 3,858 1,576 Chart
Noncurrent loans which are wholly or partially guaranteed by the U.S. 0 0 0 0 0 Chart
Income earned, not collected on loans 1,485 1,389 1,472 1,481 1,185 Chart
Earning assets 427,553 439,216 435,186 454,619 338,147 Chart
Long-term assets (5+ years) 362,885 338,521 331,433 322,531 285,689 Chart
Average total assets 479,558 483,149 486,015 385,171 359,324 Chart
Average assets, quarterly 473,192 480,535 486,015 422,862 358,750 Chart
Total risk weighted assets adjusted 234,581 231,617 258,230 265,640 170,216 Chart
Adjusted average assets for leverage capital purposes 468,166 480,761 482,618 488,560 357,164 Chart
Life insurance assets 17,152 9,044 8,978 8,897 8,825 Chart
General account life insurance assets 17,152 9,044 8,978 8,897 8,825 Chart
Separate account life insurance assets 0 0 0 0 0 Chart
Hybrid life insurance assets 0 0 0 0 0 Chart
Volatile liabilities 11,886 12,502 13,021 14,665 7,125 Chart
Insider loans 1,304 1,313 1,321 754 760 Chart
FHLB advances 0 0 0 0 0 Chart
Loans and leases held for sale 0 118 776 500 0 Chart
Unused loan commitments 19,547 17,101 17,022 20,756 13,498 Chart
Tier one (core) capital 75,841 73,990 73,084 74,215 71,908 Chart
Tier 2 Risk-based capital 1,083 1,068 868 940 908 Chart
Total unused commitments 19,547 17,101 17,022 20,756 13,498 Chart
Derivatives 0 0 0 0 0 Chart

Income and Expenses

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
Total interest income 13,492 9,114 4,518 13,596 9,767 Chart
Total interest expense 934 633 323 1,353 1,024 Chart
Net interest income 12,558 8,481 4,195 12,243 8,743 Chart
Provision for loan and lease losses 331 174 7 76 66 Chart
Total noninterest income 1,895 981 368 485 276 Chart
Gross Fiduciary activities income 0 0 0 0 0 Chart
Service charges on deposit accounts 343 224 111 139 56 Chart
Trading account gains and fees 0 0 0 0 0 Chart
Additional Noninterest Income 1,552 757 257 346 220 Chart
Total noninterest expense 7,512 5,195 2,695 6,174 4,353 Chart
Salaries and employee benefits 4,330 3,008 1,525 3,720 2,449 Chart
Premises and equipment expense 1,023 664 319 741 512 Chart
Additional noninterest expense 2,159 1,523 851 1,713 1,392 Chart
Pre-tax net operating income 6,610 4,093 1,861 6,478 4,600 Chart
Securities gains (losses) 129 120 120 118 94 Chart
Applicable income taxes 2,477 1,485 680 2,377 1,699 Chart
Income before extraordinary items 4,262 2,728 1,301 4,219 2,995 Chart
Extraordinary gains, net 0 0 0 0 0 Chart
Net income 4,262 2,728 1,301 4,219 2,995 Chart
Minority interest net income 0 0 0 0 0 Chart
Net income of bank and minority interests 4,262 2,728 1,301 4,219 2,995 Chart
Net charge-offs 184 42 3 0 0 Chart
Cash dividends 0 0 0 4,022 4,022 Chart
Sale, conversion, retirement of capital stock, net 258 182 38 447 229 Chart
Net operating income 4,179 2,650 1,222 4,143 2,935 Chart

Securities

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
Total securities 105,105 103,946 97,288 98,225 93,541 Chart
U.S. Government securities 86,353 90,333 87,501 89,484 87,259 Chart
U.S. Treasury securities 0 0 0 0 0 Chart
U.S. Government agency obligations 86,353 90,333 87,501 89,484 87,259 Chart
Securities issued by states & political subdivisions 18,573 13,433 9,601 8,573 6,067 Chart
Other domestic debt securities 0 0 0 0 0 Chart
Privately issued residential mortgage-backed securities 0 0 0 0 0 Chart
Commercial mortgage-backed securities - Total 0 0 0 0 0 Chart
Asset backed securities 0 0 0 0 0 Chart
Structured financial products - Total 0 0 0 0 0 Chart
Other domestic debt securities - All other 0 0 0 0 0 Chart
Foreign debt securities 0 0 0 0 0 Chart
Equity securities 179 180 186 168 215 Chart
Assets held in trading accounts for TFR Reporters 0 0 0 0 0 Chart
General valuation allowances for securities for TFR Reporters 0 0 0 0 0 Chart
Memoranda
Pledged securities 6,001 5,952 5,972 0 0 Chart
Mortgage-backed securities 60,724 64,163 62,037 62,774 59,042 Chart
Certificates of participation in pools of residential mortgages 52,557 55,582 52,839 50,657 49,311 Chart
Issued or guaranteed by U.S. 52,557 55,582 52,839 50,657 49,311 Chart
Privately issued 0 0 0 0 0 Chart
Collaterized mortgage obligations 8,167 8,581 9,198 9,428 9,731 Chart
CMOs issued by government agencies or sponsored agencies 8,167 8,581 9,198 9,428 9,731 Chart
Privately issued 0 0 0 0 0 Chart
Commercial mortgage-backed securities 0 0 0 2,689 0 Chart
Commercial mortgage pass-through securities 0 0 0 0 0 Chart
Other commercial mortgage-backed securities 0 0 0 2,689 0 Chart
Held to maturity securities (book value) 0 0 0 0 0 Chart
Available-for-sale securities (fair market value) 105,105 103,946 97,288 98,225 93,541 Chart
Total debt securities 104,924 103,766 97,102 98,057 93,332 Chart
Structured Notes
Amortized cost 3,995 0 4,000 6,000 7,000 Chart
Fair value 3,996 0 3,984 5,891 6,826 Chart
Trading account assets 0 0 0 0 0 Chart
Revaluation gains on off-balance sheet contracts 0 0 0 0 0 Chart
Revaluation losses on off-balance sheet contracts 0 0 0 0 0 Chart

Performance and Condition Ratios

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
% of unprofitable institutions N/A N/A N/A N/A N/A Chart
% of insitutions with earnings gains N/A N/A N/A N/A N/A Chart
Performance Ratios (%, annualized)
Yield on earning assets 4.10% 4.12% 4.06% 3.74% 3.82% Chart
Cost of funding earning assets 0.28% 0.29% 0.29% 0.37% 0.40% Chart
Net interest margin 3.82% 3.84% 3.77% 3.37% 3.42% Chart
Noninterest income to average assets 0.53% 0.41% 0.30% 0.13% 0.10% Chart
Noninterest expense to average assets 2.09% 2.15% 2.22% 1.60% 1.62% Chart
Loan and lease loss provision to assets 0.09% 0.07% 0.01% 0.02% 0.02% Chart
Net operating income to assets 1.16% 1.10% 1.01% 1.08% 1.09% Chart
Return on assets (ROA) 1.18% 1.13% 1.07% 1.10% 1.11% Chart
Pretax return on assets 1.87% 1.74% 1.63% 1.71% 1.74% Chart
Return on Equity (ROE) 7.40% 7.19% 6.91% 5.85% 5.58% Chart
Retained earnings to average equity (YTD only) 7.40% 7.19% 6.91% 0.27% -1.91% Chart
Net charge-offs to loans 0.08% 0.03% 0.00% 0.00% 0.00% Chart
Credit loss provision to net charge-offs 179.89% 414.29% 233.33% 0.00% 0.00% Chart
Earnings coverage of net charge-offs (x) 37.72% 101.60% 622.67% 0.00% 0.00% Chart
Efficiency ratio 51.24% 54.16% 58.10% 48.51% 48.26% Chart
Assets per employee ($millions) 5.86% 5.90% 6.20% 6.11% 7.94% Chart
Cash dividends to net income (YTD only) 0.00% 0.00% 0.00% 95.33% 134.29% Chart
Condition Ratios (%)
Loss allowance to loans 0.33% 0.32% 0.27% 0.26% 0.37% Chart
Loan loss allowance to noncurrent loans 30.42% 23.84% 7.58% 22.40% 54.19% Chart
Noncurrent assets plus other real estate owned to assets 1.07% 1.31% 2.88% 1.45% 0.61% Chart
Noncurrent loans to loans 1.09% 1.35% 3.54% 1.16% 0.67% Chart
Net loans and leases to total assets 64.76% 64.57% 66.63% 67.69% 65.21% Chart
Net loans and leases to deposits 78.63% 77.93% 79.82% 80.49% 82.76% Chart
Net loans and leases to core deposits 81.12% 80.47% 82.48% 83.47% 84.91% Chart
Total domestic deposits to total assets 82.37% 82.86% 83.47% 84.10% 78.80% Chart
Equity capital to assets 16.93% 16.16% 15.79% 15.19% 20.04% Chart
Core capital (leverage) ratio 16.20% 15.39% 15.14% 15.19% 20.13% Chart
Tier 1 risk-based capital ratio 32.33% 31.94% 28.30% 27.94% 42.25% Chart
Total risk-based capital ratio 32.79% 32.41% 28.64% 28.29% 42.78% Chart
Memoranda
Average total assets 479,558 483,149 486,015 385,171 359,324 Chart
Average earning assets 438,554 442,221 444,903 363,316 340,491 Chart
Average equity 76,768 75,899 75,289 72,142 71,621 Chart
Average loans 316,876 320,967 327,276 249,501 228,985 Chart