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Overview / Commentary
843-723-7700
288 Meeting Street
Charleston, SC 29401

CresCom Bank is headquartered in Charleston and is the 7th largest bank in the state of South Carolina. It is also the 740th largest bank in the nation. It was established in 2001 and as of March of 2014, it had grown to 242 employees at 12 locations. CresCom Bank has a A health rating.

Reviews (1)

Fees Fees Fees

What started off being a Great hometown bank when it was cresent has become nothing but a nightmare. Toady good local banks here in Myrtle Beach so no need in doing business with rude customer service people! Thank god for credit unions



Health

Data for Q1 2014

Institution Health

A

Texas Ratio

GRADE:
B+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 CresCom Bank had $14.7 million in non-current loans and owned real-estate with $107.8 million in equity and loan loss allowances on hand to cover it. This gives CresCom Bank a Texas Ratio of 13.64% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for CresCom Bank decreased dramatically from 24.08% as of March 31, 2013 to 13.64% as of March 31, 2014, resulting in a positive change of 43.35%.This indicates that the balance sheet and financial strength for CresCom Bank has improved dramatically in recent periods.

Deposit Growth

GRADE:
A+

In the past year, CresCom Bank has increased its total deposits by $81.72 million, resulting in 12.25% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth CresCom Bank has shown is excellent.

Capitalization

GRADE:
A

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. CresCom Bank has $917.31 million in assets with $107.8 million in equity, resulting in a capitalization level of 11.75%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #57135
Year Established2001
Employees242
Primary RegulatorFDIC
Assets and Liabilities
Assets$917.31 million
Loans$603.51 million
Deposits$748.84 million
Equity Capital$99.39 million
Loan Loss Allowance$8.40 million
Unbacked Noncurrent Loans$8.96 million
Real Estate Owned$5.74 million
Historic Data - March 2013
Assets$856.57 million
Equity Capital$89.57 million
Loan Loss Allowance$9.64 million
Unbacked Noncurrent Loans$8.96 million
Real Estate Owned$6.68 million
Profit Margin - Quarterly
Net Interest Margin3.57%
Return on Assets0.94%
Return on Equity8.63%
Interest Income$8.46 million
Rates
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CresCom Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.75%$1k-54 Month CD Special
1.00%$500-60 Month CD
0.80%$500-48 Month CD
0.60%$500-36 Month CD
0.40%$500-24 Month CD
0.30%$500-18 Month CD
0.20%$500-12 Month CD
0.15%$500-9 Month CD
0.10%$500-3 Month CD
0.10%$500-6 Month CD

CresCom Bank IRA Rates

DetailsAPYMINMAXPRODUCT
1.00%$50-60 Month IRA
0.80%$50-48 Month IRA
0.60%$50-36 Month IRA
0.40%$50-24 Month IRA
0.30%$50-18 Month IRA
0.20%$50-12 Month IRA
Locations


CresCom Bank Locations
Mount Pleasant Branch1492 Stuart Engals BoulevardMount Pleasant, SC 29464
Summerville Branch200 North Cedar StreetSummerville, SC 29483
Conway Branch2069 East Hwy 501Conway, SC 29526
Garden City Branch2636 Highway 17 SouthMurrells Inlet, SC 29576
Crescom Bank288 Meeting StreetCharleston, SC 29401
James Island Branch430 Folly RoadCharleston, SC 29412
North Myrtle Beach Branch700 Main StreetNorth Myrtle Beach, SC 29582
North Charleston Branch8485 Dorchester RoadNorth Charleston, SC 29418
West Ashley Branch884 Orleans RoadCharleston, SC 29407
Myrtle Branch991 38th Avenue NorthMyrtle Beach, SC 29577