First South Bank (SC)

First South Bank (SC) is headquartered in Spartanburg and is the 25^th largest bank in the state of South Carolina. It is also the 1,754^th largest bank in the nation. It was established in 1996 and as of March of 2012, it had grown to 67 employees at 5 locations. First South Bank (SC) has a 1-star health rating.

Data for Q1 2012

Institution Statistics First South Bank FDIC Certificate # 34222 BankRate Report View Year Established 1996 Employees 67 Primary Regulator FDIC Assets and Liabilities Assets $378.75 million Loans $241.04 million Deposits $347.18 million Equity Capital $15.40 million Loan Loss Allowance $4.67 million Unbacked Noncurrent Loans $41.21 million Real Estate Owned $27.94 million Historic Data - March 2011 Assets $451.86 million Equity Capital $25.69 million Loan Loss Allowance $5.47 million Unbacked Noncurrent Loans $46.70 million Real Estate Owned $32.53 million Profit Margin - Quarterly Net Interest Margin 2.85% Return on Assets -0.98% Return on Equity -23.34% Interest Income $3.53 million

Institution Health Overall Score: 1 out of 5 Texas Ratio The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of March 31, 2012 First South Bank (SC) had $69.15 million in non-current loans and owned real-estate with $20.06 million in equity and loan loss allowances on hand to cover it. This gives First South Bank (SC) a Texas Ratio of 344.63% which is poor. Any bank with a Texas Ratio near or greater than 100% is considered at risk. Texas Ratio Trend The Texas Ratio for First South Bank (SC) increased slightly from 254.26% as of March 31, 2011 to 344.63% as of March 31, 2012, resulting in a negative change of 35.54%. This indicates that the balance sheet and financial strength for First South Bank (SC) has declined slightly in recent periods. Deposit Growth In the past year, First South Bank (SC) has decreased its total deposits by -$61.39 million, resulting in -15.02% 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 First South Bank (SC) has shown is poor. Capitalization 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. First South Bank (SC) has $378.74 million in assets with $20.06 million in equity, resulting in a capitalization level of 5.30%, which is below average.

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