# HERITAGE SOUTHEAST BANK
JONESBORO, GA · FDIC certificate 30846 · asset band $1-10B · latest filing 2022-12 · stopped filing (departed)

**Verdict on the desk:** this could be *ordinary*. Composite score 2 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $1.58B | |
| Deposits | $1.39B | |
| Loans and leases | $1.19B | |
| Total equity | $149.9M | |
| Loans / deposits | 84.34% (p54 of band) | 82.70% |
| Liquid assets / assets | 17.64% (p29 of band) | |
| Uninsured deposits / deposits | 26.55% (p34 of band) | 32.12% |
| Brokered deposits | 0.00% | |
| Wholesale funding | 2.07% (p26 of band) | |
| FHLB advances / assets | 0.00% | |
| Tier 1 leverage | 7.68% (p4 of band) | 9.80% |
| Unrealized securities loss / equity | -15.68% (p64 of band) | -22.81% |
| AOCI / equity | -10.36% (p59 of band) | |
| ROA (annualized) | 0.45% (p7 of band) | 1.17% |
| Net interest margin | 3.96% (p84 of band) | 3.41% |
| Efficiency ratio | 86.05% (p98 of band) | |
| Noncurrent loans | 0.22% (p43 of band) | 0.26% |
| Net charge-offs (annualized) | 0.01% (p55 of band) | |
| Reserve coverage of noncurrent | 584.36% | |
| Real estate % of loans | 79% | |
| Construction % of loans | 132.56% (p90 of band) | |
| Auto loans | $2.2M (0.19% of loans; DQ 1.76%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p37 of band) | |
| Deposits YoY | -2.3% | |
| Employees | 258 | |

## Flags firing in the latest filing

- **expense ratio p90** (`earn_efficiency`)
- **construction >100% equity** (`conc_construction`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 8 | leverage <7%, leverage <5%, expense ratio p90, noncurrent p90, charge-offs p90, reserve under noncurrent, construction >100% equity |  |
| 2011-06 | 8 | losing money | noncurrent p90 |
| 2011-09 | 7 |  | charge-offs p90 |
| 2011-12 | 7 |  |  |
| 2012-03 | 7 | assets shrinking | losing money |
| 2012-06 | 5 |  | expense ratio p90, assets shrinking |
| 2012-09 | 4 | assets shrinking | leverage <5% |
| 2012-12 | 4 | uninsured deposits leaving | assets shrinking |
| 2013-03 | 4 | charge-offs p90 | uninsured deposits leaving |
| 2013-06 | 4 | expense ratio p90 | charge-offs p90 |
| 2013-09 | 3 |  | expense ratio p90 |
| 2013-12 | 6 | leverage <5%, expense ratio p90 |  |
| 2014-03 | 8 | losing money, charge-offs p90 |  |
| 2014-06 | 6 |  | losing money, charge-offs p90 |
| 2014-09 | 5 | noncurrent p90 | leverage <5% |
| 2014-12 | 4 | charge-offs p90 | leverage <7%, noncurrent p90 |
| 2015-03 | 1 |  | reserve under noncurrent, expense ratio p90, charge-offs p90 |
| 2015-06 | 1 |  |  |
| 2015-09 | 3 | capital falling, charge-offs p90 |  |
| 2015-12 | 1 |  | capital falling, charge-offs p90 |
| 2016-03 | 1 |  |  |
| 2016-06 | 1 |  |  |
| 2016-09 | 1 |  |  |
| 2016-12 | 3 | capital falling, expense ratio p90 |  |
| 2017-03 | 1 |  | capital falling, expense ratio p90 |
| 2017-06 | 1 |  |  |
| 2017-09 | 1 |  |  |
| 2017-12 | 1 |  |  |
| 2018-03 | 1 |  |  |
| 2018-06 | 1 |  |  |
| 2018-09 | 1 |  |  |
| 2018-12 | 1 |  |  |
| 2019-03 | 1 |  |  |
| 2019-06 | 2 | capital falling |  |
| 2019-09 | 2 | losing money, expense ratio p90 | construction >100% equity, capital falling |
| 2019-12 | 2 | reserve under noncurrent | losing money |
| 2020-03 | 2 | noncurrent p90 | expense ratio p90 |
| 2020-06 | 2 |  |  |
| 2020-09 | 0 |  | reserve under noncurrent, noncurrent p90 |
| 2020-12 | 2 | capital falling, expense ratio p90 |  |
| 2021-03 | 0 |  | capital falling, expense ratio p90 |
| 2021-06 | 0 |  |  |
| 2021-09 | 0 |  |  |
| 2021-12 | 0 |  |  |
| 2022-03 | 0 |  |  |
| 2022-06 | 0 |  |  |
| 2022-09 | 0 |  |  |
| 2022-12 | 2 | expense ratio p90, construction >100% equity |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2022-07-29 [Heritage Southeast finds another buyer, a month after the VyStar deal crumbled - Banking Dive](https://news.google.com/rss/articles/CBMiqAFBVV95cUxPZDdtMzNmU2NFbmFZa2xIMjBqdWtpSkZqdWtNU0k0cVBxeUtiMzVLR0o5UDNRRmVFM0h2ZzAzd0hhSll6Y2dKYU5Dc213MDFidjRPMHVVMmZMNmlXX2M3SXdld1RnTU1Od1RIeElsN3p2MDBqeDlpTElpc2lrZ1M2c1dJS1p0SVFYeGt0RGhBTzg0ckNuVVJJUXFvbl9QbFFuOURoRkY3bXU?oc=5) · Banking Dive
- 2022-06-13 [Smith to Retire as President and COO of Heritage Southeast Bank - ABF Journal](https://news.google.com/rss/articles/CBMilgFBVV95cUxPSTdwVmpweFNtV041cGxnWnZMaEtwQm1CVjBpUTBWWW5kWUtFOWhxZGEtTkgzaVpncjgxZzF5eVZTT1JaRjlsUktGcGE1cFMtRW1TV3hDckxkaXpyWF9kMFhWcGFvRVRRQ3VJS0pDSTRXRXIzc3hLempQSUNWVFdEc1JqYVYwdjFKMThDT2Z5N3dCb3c4OFE?oc=5) · ABF Journal
- 2022-06-15 [VyStar Credit Union calls off purchase of Heritage Southeast Bank - American Banker](https://news.google.com/rss/articles/CBMitAFBVV95cUxQZDJ5anM1UEtwNVB1dzhyQW53NWhOYzFwWV9QdF9wbXoxbUFqeHlRWmNlcjRXLU9WZnRlRmIwUVRNblNZN2Zwb25hTUdLWThIUl9MWFViSTBfaGJ3XzlpemZVM3VtSHljZFZDMktjT1poWGdRQjZrLVN4QTB6RXo4T2wzV2JJc2R3bVY3M2FPOXBRb1k0RmljdkFraHAwNFBIRnh5TXp6V1EtTXp3dGxVZTg2YWU?oc=5) · American Banker
- 2023-01-26 [The First acquires Heritage Bank - Coastal Courier](https://news.google.com/rss/articles/CBMibkFVX3lxTFBJVVJGTy1FUFp5UEFDZVlndjBkT3NYejVUVWQtUHRtWUVFWm9UU0V2ZDYzM1BwNGpDekYySjdGUGp6VjUyNXN6Q2d1MFI4U0oxRFlqX1I3YlhvOW03T0lxUU44S0w4QTB3TkVYMDdn?oc=5) · Coastal Courier
- 2020-09-09 [Heritage Southeast Bank Hires DeeDee McIntyre as First Vice President, Senior SBA and USDA Lender - Business Wire](https://news.google.com/rss/articles/CBMi6AFBVV95cUxOOHdvVnZmc0MyUWdUMl9NM0xHdGs0bmQ2MUZXM3dOdUNvYjVpb2lnb3pmUXFXamp3T0ZIMk94aE5HMDhlS2ZBWHQ4aUxmdS1SSnJTSFBxS0dSSzJkZUZxZEliQWp6b2hjU081bFA3Zy1kMTRMTVRGWnRZU2pydzJiUnQ5aUFLNS0zWmV0MjBjWWkydzR6Mmw3cjJJTG1NSTRDR0gwdUZsV3BCa1llOWp6M3JmcXVYdmIyLWFHWnJyaGZmRzh2VzhOMWdMWFFSbjZLZmdaeDJEUlduZFh3NE54djFGRGR4ME9s?oc=5) · Business Wire
- 2021-03-31 [VyStar becomes 13th largest U.S. credit union with purchase of Georgia commercial bank - Jacksonville Daily Record](https://news.google.com/rss/articles/CBMizwFBVV95cUxNNEF3TEpXNVBVLWZIb1d5a2JoY2tnODZETmFNekc3aVlOMVBGT0UwaEExZzF6SGViOU9sOWpFYnotbHpfa0sxLVRrOXpEMWVFN0Zvc0FuOTVSY0dnSWZYRGhmbVJaN0RFWXRfeURDOTNCd1hEOVBOSE5QN0I0djlUOEpiVm9zYWZMa1ItS19TWk82TTJ3aDlVN0ttUTYweGY5bFZ2UlVfVHo4Y2VFRm1uM1RJX3cxcVhVN1lRX29fc0tDV2tlNktqdlAxMDBhQXM?oc=5) · Jacksonville Daily Record
- 2021-04-01 ['Taking a breather': CEO Brian Wolfburg says VyStar focusing on Heritage Acquisition - The Business Journals](https://news.google.com/rss/articles/CBMikgFBVV95cUxQRkJTcm5RVWVfcDA1Mmc3QTZIcjlrbENtcGJaQmtDZTRVZlpiREliTHRiZm53V0F1ZzFPazB5TUdhWDNqcnZhdmsyb1R1M0JKaEVyTXNnZlYzR3dmZE9pdEtzeHMzQmhDTUN4X0dwRE9SaXcya3EtSDVHcFR2N0d2WnZOelBZVFh3N3VKVFhXT25LQQ?oc=5) · The Business Journals
- 2021-04-01 [VyStar lines up biggest-ever bank purchase by a credit union - American Banker](https://news.google.com/rss/articles/CBMimAFBVV95cUxQUHRzd3Q5anduS0lIZDVSc0l0ZU5PTVlsMjVFdG1TSDJUOU9idWhTM05KVUt2eElYWm50RDh0a3JGR2EtZXZ2NFdRVl9lWVpiR1RWdXcxYnlReUNZVmk1N0hhei1iN0JWMEdyZ2UwZ3B5VVUzQ0tCTDNGTzlfMnI2LTBVZFFucE9nTDhNSUw2ajRaS0h6T1pKYg?oc=5) · American Banker

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=30846 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/62.json (key "30846", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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