Tidelands Bank

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Overview

FDIC Cert 57594
Address
875 Lowcountry Boulevard, Mount Pleasant, SC 29464
FDIC Unique Number 366253
Federal Reserve ID 3185485
Federal Reserve ID for Bank Holding Company 3185476
OCC Charter Number 0
OTS Docket Number Not available or not applicable
MSA Charleston-North Charleston, SC
County Charleston
Website http://www.tidelandsbank.com
Established On 10/06/2003
Insured On 10/06/2003
Holding Company Tidelands Bancshares, Inc.
Regulator Federal Deposit Insurance Corporation
Asset Concentration Commercial Lending Specialization
Ownership Type
Domestic Offices 7
Foreign Offices
Bank Charter Class NM - Commercial bank, state charter and Fed nonmember, supervised by the FDIC

Recent Changes

Change in Trust Powers

Financial Snapshot

USD, Thousands
Total Assets 478,657
Total Deposits 432,600
Domestic Deposits 432,600
Bank Equity Capital 25,198
Year to Date Quarterly
Net Income USD, 000 -1,176 69
Return on Assets -0.33% 0.06%
Return on Equity -6.15% 1.11%
Pre-Tax Return on Assets -0.33% 0.06%
as of 09/30/2015

Financial Health

As of 09/30/2015
Medium 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.

Tidelands Bank has a texas ratio of 65.15 which puts it at medium risk. As of 09/30/2015 the bank had $7,067 Non Current Loans and Leases, $12,620 Other Real Estate Owned, $25,198 Total Equity Capital and $5,018 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 $7,067 $12,620 $25,198 $5,018 65.15
06/30/2015 $7,586 $13,533 $24,622 $5,404 70.34
03/31/2015 $9,606 $17,218 $26,264 $4,794 86.37
12/31/2014 $6,969 $17,692 $26,116 $4,879 79.56
09/30/2014 $9,453 $18,965 $25,492 $5,145 92.76
06/30/2014 $12,221 $16,962 $25,162 $5,149 96.28
03/31/2014 $13,801 $18,789 $24,392 $5,914 107.54
12/31/2013 $14,043 $18,693 $23,487 $6,026 110.92
09/30/2013 $24,559 $20,077 $23,752 $6,860 145.81
06/30/2013 $21,871 $20,509 $23,812 $6,588 139.41
03/31/2013 $26,501 $22,474 $25,776 $6,692 150.84
12/31/2012 $23,118 $22,647 $26,549 $6,727 137.53
09/30/2012 $24,495 $20,477 $27,564 $8,081 126.17
06/30/2012 $26,215 $21,020 $29,574 $7,229 128.35
03/31/2012 $32,190 $19,327 $28,896 $8,985 136
12/31/2011 $34,292 $18,906 $28,844 $10,320 135.83
09/30/2011 $31,306 $18,534 $29,503 $11,249 122.3
06/30/2011 $25,020 $18,109 $27,366 $13,431 105.72
03/31/2011 $28,518 $14,561 $32,759 $12,390 95.42
12/31/2010 $35,557 $11,906 $36,759 $11,459 98.43
09/30/2010 $36,859 $9,877 $42,685 $11,665 85.99
06/30/2010 $27,705 $12,213 $42,637 $14,781 69.52
03/31/2010 $21,506 $8,963 $48,793 $10,922 51.02
12/31/2009 $21,295 $6,865 $50,282 $10,048 46.68
09/30/2009 $12,260 $7,507 $59,617 $8,206 29.14
06/30/2009 $11,611 $5,566 $53,220 $9,606 27.34
03/31/2009 $16,884 $3,958 $54,401 $8,656 33.05

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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) 84 82 78 77 76 Chart
Total Assets 478,657 475,197 476,160 475,256 481,438 Chart
Cash & Balances due from depository institutions 26,092 25,736 23,041 21,285 19,371 Chart
Interest-bearing balances 20,800 19,644 19,483 16,958 15,870 Chart
Securities 83,197 81,135 79,400 82,262 83,845 Chart
Federal funds sold and reverse repurchase 0 0 0 0 0 Chart
Net loans and leases 317,638 314,255 316,237 313,247 318,190 Chart
Loan loss allowance 5,018 5,404 4,794 4,879 5,145 Chart
Trading account assets 0 0 0 0 0 Chart
Bank premises and fixed assets 19,857 20,053 20,276 20,594 20,692 Chart
Other real estate owned 12,620 13,533 17,218 17,692 18,965 Chart
Goodwill and other intangibles 0 0 0 0 0 Chart
All other assets 19,253 20,485 19,988 20,176 20,375 Chart
Total Liabilities and Capital 478,657 475,197 476,160 475,256 481,438 Chart
Total Liabilities 453,459 450,575 449,896 449,140 455,946 Chart
Total deposits 432,600 429,914 429,274 428,114 434,985 Chart
Interest-bearing deposits 401,625 399,506 399,895 401,371 406,629 Chart
Deposits held in domestic offices 432,600 429,914 429,274 428,114 434,985 Chart
% insured (estimated) 92% 94% 95% 94% 95% Chart
Federal funds purchased and repurchase agreements 10,000 10,000 10,000 10,000 10,000 Chart
Trading liabilities 0 0 0 0 0 Chart
Other borrowed funds 9,000 9,000 9,000 9,000 9,000 Chart
Subordinated debt 0 0 0 0 0 Chart
All other liabilities 1,859 1,661 1,622 2,026 1,961 Chart
Total equity capital 25,198 24,622 26,264 26,116 25,492 Chart
Bank equity capital 25,198 24,622 26,264 26,116 25,492 Chart
Perpetual preferred stock 0 0 0 0 0 Chart
Common stock 28,396 28,396 28,396 28,396 28,396 Chart
Surplus 35,180 35,180 35,180 35,180 35,180 Chart
Undivided profits -38,378 -38,954 -37,312 -37,460 -38,084 Chart
Equity, minor interest in consolidated subs 0 0 0 0 0 Chart
Memoranda
Noncurrent loans and leases 7,067 7,586 9,606 6,969 9,453 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 1,176 1,096 1,320 1,308 1,340 Chart
Earning assets 421,635 415,034 415,120 412,467 417,905 Chart
Long-term assets (5+ years) 91,958 90,877 91,577 106,061 107,539 Chart
Average total assets 476,274 475,480 475,622 480,598 481,933 Chart
Average assets, quarterly 476,927 475,679 475,622 478,347 483,070 Chart
Total risk weighted assets adjusted 355,491 353,039 356,454 351,717 359,166 Chart
Adjusted average assets for leverage capital purposes 481,170 475,022 472,102 477,450 484,402 Chart
Life insurance assets 16,604 16,498 16,390 16,285 16,176 Chart
General account life insurance assets 11,450 11,377 11,302 11,229 11,153 Chart
Separate account life insurance assets 0 0 0 0 0 Chart
Hybrid life insurance assets 5,154 5,121 5,088 5,056 5,023 Chart
Volatile liabilities 38,142 36,251 35,492 33,907 34,489 Chart
Insider loans 8,301 7,840 8,013 9,301 9,658 Chart
FHLB advances 9,000 9,000 9,000 9,000 9,000 Chart
Loans and leases held for sale 227 369 417 0 0 Chart
Unused loan commitments 21,917 19,225 17,564 17,912 19,111 Chart
Tier one (core) capital 25,899 25,829 26,849 27,248 27,341 Chart
Tier 2 Risk-based capital 4,450 4,425 4,460 4,402 4,498 Chart
Total unused commitments 21,917 19,225 17,564 17,912 19,111 Chart
Derivatives 0 0 0 121 1,224 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 12,687 8,383 4,198 17,764 13,281 Chart
Total interest expense 3,476 2,313 1,150 4,733 3,546 Chart
Net interest income 9,211 6,070 3,048 13,031 9,735 Chart
Provision for loan and lease losses 1,175 1,175 0 71 71 Chart
Total noninterest income 1,868 1,242 325 1,179 1,012 Chart
Gross Fiduciary activities income 0 0 0 0 0 Chart
Service charges on deposit accounts 162 100 52 203 152 Chart
Trading account gains and fees 0 0 0 0 0 Chart
Additional Noninterest Income 1,706 1,142 273 976 860 Chart
Total noninterest expense 11,086 7,388 3,604 13,867 10,332 Chart
Salaries and employee benefits 5,133 3,368 1,636 6,056 4,435 Chart
Premises and equipment expense 1,924 1,271 626 2,544 1,879 Chart
Additional noninterest expense 4,029 2,749 1,342 5,267 4,018 Chart
Pre-tax net operating income -1,182 -1,251 -231 272 344 Chart
Securities gains (losses) 6 6 6 -32 0 Chart
Applicable income taxes 0 0 0 4 16 Chart
Income before extraordinary items -1,176 -1,245 -225 236 328 Chart
Extraordinary gains, net 0 0 0 0 0 Chart
Net income -1,176 -1,245 -225 236 328 Chart
Minority interest net income 0 0 0 0 0 Chart
Net income of bank and minority interests -1,176 -1,245 -225 236 328 Chart
Net charge-offs 907 521 -44 1,218 952 Chart
Cash dividends 0 0 0 0 0 Chart
Sale, conversion, retirement of capital stock, net 0 0 0 0 0 Chart
Net operating income -1,182 -1,251 -231 267 328 Chart

Securities

Figures in USD, Thousands 09/30/2015 06/30/2015 03/31/2015 12/31/2014 09/30/2014 Charts
Total securities 83,197 81,135 79,400 82,262 83,845 Chart
U.S. Government securities 83,197 81,135 79,400 82,262 83,845 Chart
U.S. Treasury securities 4,499 4,488 4,492 4,459 4,442 Chart
U.S. Government agency obligations 78,698 76,647 74,908 77,803 79,403 Chart
Securities issued by states & political subdivisions 0 0 0 0 0 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 0 0 0 0 0 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 18,311 18,734 19,405 19,601 19,406 Chart
Mortgage-backed securities 48,205 50,224 52,975 57,882 59,641 Chart
Certificates of participation in pools of residential mortgages 22,199 23,021 23,777 27,743 26,225 Chart
Issued or guaranteed by U.S. 22,199 23,021 23,777 27,743 26,225 Chart
Privately issued 0 0 0 0 0 Chart
Collaterized mortgage obligations 26,006 27,203 29,198 30,139 33,416 Chart
CMOs issued by government agencies or sponsored agencies 26,006 27,203 29,198 30,139 33,416 Chart
Privately issued 0 0 0 0 0 Chart
Commercial mortgage-backed securities 0 0 0 0 0 Chart
Commercial mortgage pass-through securities 0 0 0 0 0 Chart
Other commercial mortgage-backed securities 0 0 0 0 0 Chart
Held to maturity securities (book value) 5,262 1,250 0 0 0 Chart
Available-for-sale securities (fair market value) 77,935 79,885 79,400 82,262 83,845 Chart
Total debt securities 83,198 81,135 79,400 82,262 83,845 Chart
Structured Notes
Amortized cost 0 0 0 0 0 Chart
Fair value 0 0 0 0 0 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 4.07% 4.05% 4.06% 4.26% 4.24% Chart
Cost of funding earning assets 1.11% 1.12% 1.11% 1.14% 1.13% Chart
Net interest margin 2.95% 2.93% 2.95% 3.13% 3.11% Chart
Noninterest income to average assets 0.52% 0.52% 0.27% 0.25% 0.28% Chart
Noninterest expense to average assets 3.10% 3.11% 3.03% 2.89% 2.86% Chart
Loan and lease loss provision to assets 0.33% 0.49% 0.00% 0.01% 0.02% Chart
Net operating income to assets -0.33% -0.53% -0.19% 0.06% 0.09% Chart
Return on assets (ROA) -0.33% -0.52% -0.19% 0.05% 0.09% Chart
Pretax return on assets -0.33% -0.52% -0.19% 0.05% 0.10% Chart
Return on Equity (ROE) -6.15% -9.72% -3.45% 0.95% 1.78% Chart
Retained earnings to average equity (YTD only) -6.15% -9.72% -3.45% 0.95% 1.78% Chart
Net charge-offs to loans 0.38% 0.33% -0.06% 0.37% 0.39% Chart
Credit loss provision to net charge-offs 129.55% 225.53% 0.00% 5.83% 7.46% Chart
Earnings coverage of net charge-offs (x) -0.01% -0.15% 0.00% 0.28% 0.44% Chart
Efficiency ratio 100.06% 101.04% 106.85% 97.59% 96.14% Chart
Assets per employee ($millions) 5.70% 5.80% 6.10% 6.17% 6.33% Chart
Cash dividends to net income (YTD only) 0.00% 0.00% 0.00% 0.00% 0.00% Chart
Condition Ratios (%)
Loss allowance to loans 1.56% 1.69% 1.49% 1.53% 1.59% Chart
Loan loss allowance to noncurrent loans 71.01% 71.24% 49.91% 70.01% 54.43% Chart
Noncurrent assets plus other real estate owned to assets 4.11% 4.44% 5.63% 5.19% 5.90% Chart
Noncurrent loans to loans 2.19% 2.37% 2.99% 2.19% 2.92% Chart
Net loans and leases to total assets 66.36% 66.13% 66.41% 65.91% 66.09% Chart
Net loans and leases to deposits 73.43% 73.10% 73.67% 73.17% 73.15% Chart
Net loans and leases to core deposits 78.53% 77.85% 78.32% 77.50% 77.51% Chart
Total domestic deposits to total assets 90.38% 90.47% 90.15% 90.08% 90.35% Chart
Equity capital to assets 5.26% 5.18% 5.52% 5.50% 5.29% Chart
Core capital (leverage) ratio 5.38% 5.44% 5.69% 5.71% 5.64% Chart
Tier 1 risk-based capital ratio 7.29% 7.32% 7.53% 7.75% 7.61% Chart
Total risk-based capital ratio 8.54% 8.57% 8.78% 9.00% 8.86% Chart
Memoranda
Average total assets 476,274 475,480 475,622 480,598 481,933 Chart
Average earning assets 416,064 414,207 413,794 416,685 417,740 Chart
Average equity 25,507 25,610 26,104 24,930 24,633 Chart
Average loans 320,336 319,562 319,514 325,968 327,929 Chart