# FIRST SOUTH BANK
WASHINGTON, NC · FDIC certificate 31084 · asset band $1-10B · latest filing 2017-09 · stopped filing (departed)

**Verdict on the desk:** this could be *ordinary*. Composite score 0 (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 | $1.07B | |
| Deposits | $948.1M | |
| Loans and leases | $784.5M | |
| Total equity | $103.2M | |
| Loans / deposits | 81.74% (p33 of band) | 89.41% |
| Liquid assets / assets | 23.06% (p57 of band) | |
| Uninsured deposits / deposits | 18.92% (p29 of band) | 25.99% |
| Brokered deposits | 1.44% | |
| Wholesale funding | 2.97% (p22 of band) | |
| FHLB advances / assets | 1.54% | |
| Tier 1 leverage | 8.96% (p21 of band) | 10.05% |
| Unrealized securities loss / equity | 4.35% (p96 of band) | -0.01% |
| AOCI / equity | 1.40% (p79 of band) | |
| ROA (annualized) | 0.93% (p40 of band) | 1.02% |
| Net interest margin | 3.84% (p72 of band) | 3.52% |
| Efficiency ratio | 69.40% (p76 of band) | |
| Noncurrent loans | 0.29% (p26 of band) | 0.54% |
| Net charge-offs (annualized) | 0.00% (p16 of band) | |
| Reserve coverage of noncurrent | 414.84% | |
| Real estate % of loans | 85% | |
| Construction % of loans | 93.40% (p92 of band) | |
| Auto loans | $1.9M (0.24% of loans; DQ 0.16%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p37 of band) | |
| Deposits YoY | 10.1% | |
| Employees | 276 | |

## Flags firing in the latest filing

- none

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 2 | reserve under noncurrent, construction >100% equity |  |
| 2011-06 | 3 | charge-offs p90 |  |
| 2011-09 | 3 |  |  |
| 2011-12 | 4 | noncurrent p90 |  |
| 2012-03 | 5 | deposits shrinking, assets shrinking | noncurrent p90 |
| 2012-06 | 5 | noncurrent p90 | construction >100% equity |
| 2012-09 | 4 |  | charge-offs p90 |
| 2012-12 | 5 | losing money, expense ratio p90, charge-offs p90 | assets shrinking, noncurrent p90 |
| 2013-03 | 2 | assets shrinking | reserve under noncurrent, losing money, expense ratio p90, charge-offs p90 |
| 2013-06 | 2 |  |  |
| 2013-09 | 0 |  | deposits shrinking, assets shrinking |
| 2013-12 | 0 |  |  |
| 2014-03 | 0 |  |  |
| 2014-06 | 2 | capital falling, reserve under noncurrent |  |
| 2014-09 | 0 |  | capital falling, reserve under noncurrent |
| 2014-12 | 0 |  |  |
| 2015-03 | 2 | capital falling, expense ratio p90 |  |
| 2015-06 | 2 |  |  |
| 2015-09 | 1 |  | expense ratio p90 |
| 2015-12 | 0 |  | capital falling |
| 2016-03 | 0 |  |  |
| 2016-06 | 1 | construction >100% equity |  |
| 2016-09 | 0 |  | construction >100% equity |
| 2016-12 | 1 | construction >100% equity |  |
| 2017-03 | 1 |  |  |
| 2017-06 | 1 | capital falling | construction >100% equity |
| 2017-09 | 0 |  | capital falling |

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

- 2017-06-12 [Washington NC based First South Bank agrees to merger - WITN](https://news.google.com/rss/articles/CBMipAFBVV95cUxQTG8yN0xONUN2N0UxanJCcm84UjIxT3ZlYllZb3l2MDdVNEJMLS1sVGJyOWxWTi1tNWVTX1hZWmtyWkZGaVFCYTJkWWJ4YTd4UzB4WEJxcFprajVaUjFqQndnYTZfX0hNcHJoYndyTzJ2bS0tX3Y4b0pSSGt2dXRyOEl5QmVSOFp1VFJhUlRkRTRUc1B3bUl4RE5RaHBFenNZQndVONIBuAFBVV95cUxPRENNYXJxYXJJaWdoWmk5Q3RfYXF1MUF0QWxrNkZZQkpwWWkySE1WVVFQUzREbGg3RnJ2QkRYMXFHblc0UlJDZGROZkU2WG1GQ0lwNFhNX3ZKeG83UTZYVTdfZG12Rkh3VmpQbEJ0eURiVWtNTUhFSWN6d2V0dzk2cEMwSkZJUlZMZElfUmxzSkFqWTRpemlERmI3eXR6enhyOW16bnFQa0lGY2NVTTZxSGhJejhQSkZn?oc=5) · WITN
- 2019-10-02 [CresCom-First South merger will strengthen ENC communities, executives said - reflector.com](https://news.google.com/rss/articles/CBMi8wFBVV95cUxONTkyOENQYVFuXzF1X1lScmJHQ2FMeTR0amFVdWFta0N6dHNXakc2dTFFUUEtYkVRZFVxODU1bTRXOVZwTFZGVENyRFFWMjdjNjZoUDdtUFF1bVllOUlPcUVtQkxzRURWMnp2aEdDT1dDXzNmMkx4aHZPOTJqemRTMGdPTVI0OFBuY3JPQ1d4RXhPZTVmdk9NR1FnMEt3Zk05R0dXQTc0WFZ3eDVYTm94RFpQaXhwWEJvTWs5UlFJakJYeEZTckZuWTFpT0hWNDQ5WGhqOVIxR016ZE5xb1ZnNlN6aDhNVWsyOFh5MjhraGlOZmc?oc=5) · reflector.com
- 2018-01-19 [First South Bank name change set for March 12 - New Bern Sun Journal](https://news.google.com/rss/articles/CBMizAFBVV95cUxOWHMtSnBNaFRKRUxqN0VNcUUwTktoWXdfSDNOUG1NeFZ6LVQxOF9zSEd3dnZmSkxwNkYxQ042YzNzajY3MjBnWHFBVlF3Y2phTEc4cHI0UUY5WGN5NGNNSWNaWkc4amVXZTZhbjR0OWtYd2hEX2JTaVk3UlZ3YU9HVGlNZ0x6emM5UExXOXJUbHUyY3N5UE83bnZOWHVDaWFtUW52ODdKR013MjQySnFjVDgxNDctSlBBamJIbzFIa3cwV0pWRGtJbEhIbWY?oc=5) · New Bern Sun Journal
- 2017-07-14 [Rexroad Talks CresCom, First South - wilmingtonbiz.com](https://news.google.com/rss/articles/CBMilAFBVV95cUxNYTRZVS1Ed2c5U0lDYllfenE3ZzBZaUNTTDFuRmdMZDFyNUszSUR1bEZwejVYTGgwem1uSV9LenlEbHhuVnJpdW9VMjF6S0gyVTBhWl9NUnkzTHhVNzVlbHpvcjlOLWlkbjkzZUZtMW5ZWG1rTTZiSFY5VzhSXy1jS2lUYVByVEYxWkRnU0RZckdsSVRn?oc=5) · wilmingtonbiz.com
- 2017-06-06 [NC banking: Largest 100 banks and credit unions in the state - Business North Carolina](https://news.google.com/rss/articles/CBMiiwFBVV95cUxOcUZqcXRBN2l4TVdHUFBfczBXVGFraHBlMGpUTDNLclBxNkNPVl9jOUItLWcwWm8tQWFxcjNFVnlkQXhQa0NYUjlqeDBBbm9yRTNDQTVkU0ZkVUF0eVJXbmhQZDBtZlFwem9Bd05LVFF3QWxBYXVLVlQ5SVlzM1NsZWNsWXNTMmZSNThR?oc=5) · Business North Carolina
- 2014-12-15 [Washington, N.C.-based First South Bank acquires nine branches from Bank of America - The Business Journals](https://news.google.com/rss/articles/CBMipAFBVV95cUxNUzJNS1VwRlFWOVFtRlBMVXI3eDN0SGdpb2hKN3V3eE1Ucm1RZ1RoWHhKVmswXzUxaFUyd2FOVUtEVV9EOHY4MVBuR2hHbDBxMnd0b0UxSjMtSTZGZUg5QjE3ei1mTjlKd1ViY09HUV9RWkQ5STg2N012eHByTVc3d1RUMHE5Q01nMHdWX0dQamhOd2ZBZFd2WDdtTm9pV3JUelpzZw?oc=5) · The Business Journals
- 2019-11-17 [Jennings-based JD Bancshares names new president - theadvocate.com](https://news.google.com/rss/articles/CBMi4wFBVV95cUxPUm05S2J0X1Q3Y1NYMEZVRFA3VXNQTFE2bG91QkVLS094Nlc4MWY1OWtZMF9RXzZfWDNEUXluZ0VDTGxmX2N4T1RabTczYkdmN0dsQUtjTEdydVBQNEFMdDZPZFZzeS1fNHpCTXIyNzJDNzBJWXNNYU9HMk1tczFNQzc5VEdaaktGdVZSWkNfRmUyR0U0eTlZYUxGZEMtR3J4ZTFSUkktVC1ubmlORWJmYVpaaVNuTDYtZEFmdnB5c1hyMkpSbUFWUGxsSTRPbUxZVWRCX2d1ak9NYUVMQXRvYmtPUQ?oc=5) · theadvocate.com
- 2018-01-02 [Banks Marked Year Of Expansion, Mergers - wilmingtonbiz.com](https://news.google.com/rss/articles/CBMiowFBVV95cUxNSjVYRV96ZlByRHAyeTZGOUo1SzhQMHRkNTA5bDZ5NUc2R0NmaXZELWpITU12UktENlVEUjdsQURVMDhEYWdJMmJzNmhDUnM2RFBLWVYwZlgwQnFkazVJTkNyeDR5UnJ6UmxCdG1GQzZCTzI0QkN6OUdhaldfSzhNZlZrMllYNXRlZEl3Uks1ZmVlb0I4cEoxaXU5azlOQlVwbThV?oc=5) · wilmingtonbiz.com

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=31084 (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/44.json (key "31084", 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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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide