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South County Bank, National Association

Based on 1 review
South County Bank, National Association
Overview / Commentary
22342 Avenida Empresa
Rancho Santa Margarita, CA 92688

South County Bank, National Association is headquartered in Rancho Santa Mar and is the 173rd largest bank in the state of California. It is also the 3,830th largest bank in the nation. It was established in 1999 and as of March of 2014, it had grown to 38 employees at 5 locations. South County Bank, National Association has a B+ health rating.

Reviews (1)

Do NOT Do Business With South County Bank!!!

It is no wonder that South County Bank is the "178th Largest" bank in California --- out of...hmmm...let's see...maybe 180 banks???

Seriously, from my experience, South County Bank is probably one of the worst run financial institutions I've ever encountered.  I was talked into opening an account with SCB by several of my friends who had their own accounts there.  I won't go into details, but suffice it to say that ALL of us have now CANCELLED our accounts and are warning all of our friends and associates not to EVER do business with South County Bank. 



Health

Data for Q1 2014

Institution Health

B+

Texas Ratio

GRADE:
A

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 South County Bank, National Association had $951,000 in non-current loans and owned real-estate with $10.34 million in equity and loan loss allowances on hand to cover it. This gives South County Bank, National Association a Texas Ratio of 9.20% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for South County Bank, National Association decreased dramatically from 62.36% as of March 31, 2013 to 9.20% as of March 31, 2014, resulting in a positive change of 85.25%.This indicates that the balance sheet and financial strength for South County Bank, National Association has improved dramatically in recent periods.

Deposit Growth

GRADE:
C+

In the past year, South County Bank, National Association has decreased its total deposits by $-623,000, resulting in -0.46% 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 South County Bank, National Association has shown is average.

Capitalization

GRADE:
C-

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. South County Bank, National Association has $143.41 million in assets with $10.34 million in equity, resulting in a capitalization level of 7.21%, which is below average.

Institution Statistics

Overall
FDIC Certificate #35069
Year Established1999
Employees38
Primary RegulatorOCC
Assets and Liabilities
Assets$143.41 million
Loans$64.86 million
Deposits$135.68 million
Equity Capital$7.28 million
Loan Loss Allowance$3.06 million
Unbacked Noncurrent Loans$951,000
Real Estate Owned$0
Historic Data - March 2013
Assets$144.91 million
Equity Capital$7.88 million
Loan Loss Allowance$3.67 million
Unbacked Noncurrent Loans$951,000
Real Estate Owned$473,000
Profit Margin - Quarterly
Net Interest Margin3.41%
Return on Assets0.83%
Return on Equity17.03%
Interest Income$1.22 million
Rates

Sorry, we do not have rate data for South County Bank, National Association

Locations


South County Bank, National Association Locations
Redlands Branch1200 California Street, Suite 100Redlands, CA 92374
Irvine Branch2 Venture, Suite 120Irvine, CA 92618
South County Bank, National Association22342 Avenida EmpresaRancho Santa Margarita, CA 92688
Surf City Bank - Huntington Beach Branch7755 Center Avenue, Suite 100Huntington Beach, CA 92647