Providence Bank (NC)

Providence Bank (NC) is headquartered in Rocky Mount and is the 61^st largest bank in the state of North Carolina. It is also the 3,158^th largest bank in the nation. It was established in 2006 and as of March of 2012, it had grown to 25 employees at 3 locations. Providence Bank (NC) has a 4-star health rating.

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Data for Q1 2012

Institution Statistics Providence Bank FDIC Certificate # 58239 BankRate Report View Year Established 2006 Employees 25 Primary Regulator FDIC Assets and Liabilities Assets $197.26 million Loans $149.46 million Deposits $167.89 million Equity Capital $20.09 million Loan Loss Allowance $2.47 million Unbacked Noncurrent Loans $4.28 million Real Estate Owned $861,000 Historic Data - March 2011 Assets $171.16 million Equity Capital $18.65 million Loan Loss Allowance $2.79 million Unbacked Noncurrent Loans $4.48 million Real Estate Owned $493,000 Profit Margin - Quarterly Net Interest Margin 3.28% Return on Assets 0.89% Return on Equity 9.12% Interest Income $2.10 million

Institution Health Overall Score: 4 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 Providence Bank (NC) had $5.14 million in non-current loans and owned real-estate with $22.56 million in equity and loan loss allowances on hand to cover it. This gives Providence Bank (NC) a Texas Ratio of 22.79% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk. Texas Ratio Trend The Texas Ratio for Providence Bank (NC) held steady from 23.22% as of March 31, 2011 to 22.79% as of March 31, 2012, resulting in a positive change of 1.86%.This indicates that the balance sheet and financial strength for Providence Bank (NC) has held steady in recent periods. Deposit Growth In the past year, Providence Bank (NC) has increased its total deposits by $29.42 million, resulting in 21.25% 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 Providence Bank (NC) has shown is excellent. 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. Providence Bank (NC) has $197.26 million in assets with $22.56 million in equity, resulting in a capitalization level of 11.44%, which is above average.

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