Sound Banking Company (NC)

Sound Banking Company (NC) is headquartered in Morehead City and is the 73^rd largest bank in the state of North Carolina. It is also the 4,575^th largest bank in the nation. It was established in 2001 and as of March of 2012, it had grown to 30 employees at 4 locations. Sound Banking Company (NC) has a 4-star health rating.

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Data for Q1 2012

Institution Statistics Sound Banking Company FDIC Certificate # 57095 BankRate Report View Year Established 2001 Employees 30 Primary Regulator FDIC Assets and Liabilities Assets $115.25 million Loans $83.53 million Deposits $90.64 million Equity Capital $12.90 million Loan Loss Allowance $2.13 million Unbacked Noncurrent Loans $1.19 million Real Estate Owned $433,000 Historic Data - March 2011 Assets $121.79 million Equity Capital $11.56 million Loan Loss Allowance $2.11 million Unbacked Noncurrent Loans $1.95 million Real Estate Owned $1.03 million Profit Margin - Quarterly Net Interest Margin 4.6% Return on Assets 0.54% Return on Equity 4.83% Interest Income $1.39 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 Sound Banking Company (NC) had $1.62 million in non-current loans and owned real-estate with $15.03 million in equity and loan loss allowances on hand to cover it. This gives Sound Banking Company (NC) a Texas Ratio of 10.79% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk. Texas Ratio Trend The Texas Ratio for Sound Banking Company (NC) decreased significantly from 21.78% as of March 31, 2011 to 10.79% as of March 31, 2012, resulting in a positive change of 50.47%.This indicates that the balance sheet and financial strength for Sound Banking Company (NC) has improved significantly in recent periods. Deposit Growth In the past year, Sound Banking Company (NC) has decreased its total deposits by -$7.06 million, resulting in -7.22% 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 Sound Banking Company (NC) 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. Sound Banking Company (NC) has $115.25 million in assets with $15.03 million in equity, resulting in a capitalization level of 13.04%, which is excellent.

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