Major Rating Factors:
An analysis of stability tests since inception including evaluations of capital adequacy, asset growth, and profitability lead to a Very Weak overall stability index (0.0). Operating profits as a percentage of assets at 1.4%, coupled with a return on assets of 1.4 has resulted in Good (5.2) profitability.
Other Rating Factors:
Fair liquidity 3.0, driven by a liquidity ratio of 36.0 percent and a “hot money” ratio of 18.4 percent. A current level of 0.0 percent of nonperforming loans to core capital combined with 0.0 percent from a year earlier contributes to the Excellent asset quality (8.9).
Asset Mix:
Comm re (22%), securities (17%), cash (12%), home eq lns (10%), home mtgs (10%), comm loans (6%), consumer loans (1%), other (21%)
States with Branches:
NC