# FIRST SOUTH BANK
SPARTANBURG, SC · FDIC certificate 34222 · asset band <$300M · latest filing 2019-03 · stopped filing (departed)

**Verdict on the desk:** this could be *ordinary*. Composite score 1 (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 | $235.8M | |
| Deposits | $208.1M | |
| Loans and leases | $183.2M | |
| Total equity | $26.3M | |
| Loans / deposits | 86.92% (p72 of band) | 76.50% |
| Liquid assets / assets | 13.52% (p10 of band) | |
| Uninsured deposits / deposits | 11.00% (p29 of band) | 15.89% |
| Brokered deposits | 0.00% | |
| Wholesale funding | 0.00% (p20 of band) | |
| FHLB advances / assets | 0.00% | |
| Tier 1 leverage | 10.51% (p37 of band) | 11.35% |
| Unrealized securities loss / equity | -1.35% (p27 of band) | -0.33% |
| AOCI / equity | 1.50% (p60 of band) | |
| ROA (annualized) | 0.73% (p32 of band) | 0.99% |
| Net interest margin | 3.81% (p52 of band) | 3.80% |
| Efficiency ratio | 80.43% (p75 of band) | |
| Noncurrent loans | 2.22% (p85 of band) | 0.56% |
| Net charge-offs (annualized) | -0.03% (p10 of band) | |
| Reserve coverage of noncurrent | 56.81% | |
| Real estate % of loans | 77% | |
| Construction % of loans | 53.81% (p82 of band) | |
| Auto loans | $0 (0.00% of loans; DQ –, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p48 of band) | |
| Deposits YoY | 8.8% | |
| Employees | 49 | |

## Flags firing in the latest filing

- **reserve under noncurrent** (`aq_reserve`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 10 | brokered >10%, wholesale funding >15%, leverage <7%, losing money, expense ratio p90, NIM <2.5%, noncurrent p90, charge-offs p90, reserve under noncurrent, construction >100% equity |  |
| 2011-06 | 12 | leverage <5% |  |
| 2011-09 | 12 | capital falling | NIM <2.5% |
| 2011-12 | 10 |  | brokered >10%, wholesale funding >15% |
| 2012-03 | 11 | deposits shrinking, assets shrinking | charge-offs p90 |
| 2012-06 | 12 | charge-offs p90 |  |
| 2012-09 | 11 |  | capital falling |
| 2012-12 | 11 |  |  |
| 2013-03 | 10 |  | charge-offs p90 |
| 2013-06 | 12 | AOCI drag >20% of equity, securities losses >30% of equity |  |
| 2013-09 | 12 |  |  |
| 2013-12 | 10 |  | losing money, expense ratio p90 |
| 2014-03 | 9 | losing money, expense ratio p90 | deposits shrinking, assets shrinking, AOCI drag >20% of equity |
| 2014-06 | 9 |  |  |
| 2014-09 | 8 | deposits shrinking, assets shrinking | securities losses >30% of equity, losing money, expense ratio p90 |
| 2014-12 | 10 | losing money, expense ratio p90 |  |
| 2015-03 | 10 | uninsured deposits leaving | losing money |
| 2015-06 | 9 |  | noncurrent p90 |
| 2015-09 | 8 | capital falling | deposits shrinking, assets shrinking |
| 2015-12 | 9 | noncurrent p90, deposits shrinking | capital falling |
| 2016-03 | 8 | losing money | uninsured deposits leaving, deposits shrinking |
| 2016-06 | 10 | deposits shrinking, assets shrinking |  |
| 2016-09 | 7 |  | losing money, deposits shrinking, assets shrinking |
| 2016-12 | 8 | losing money |  |
| 2017-03 | 8 |  |  |
| 2017-06 | 4 |  | leverage <7%, construction >100% equity, leverage <5% |
| 2017-09 | 4 | deposits shrinking | noncurrent p90 |
| 2017-12 | 3 |  | deposits shrinking |
| 2018-03 | 2 | deposits shrinking | expense ratio p90, losing money |
| 2018-06 | 2 |  |  |
| 2018-09 | 1 |  | deposits shrinking |
| 2018-12 | 1 |  |  |
| 2019-03 | 1 |  |  |

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

- 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
- 2017-06-12 [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
- 2016-08-18 [First South Bank of Spartanburg celebrates 20 years - GoUpstate](https://news.google.com/rss/articles/CBMisgFBVV95cUxPX3NIM2NMSTlEM1hPaFRjblhwQWcwa0poTDRQT3QzLWFNaFE3MnhYUkhtTkdjS1hxbjFWSTd5X05yTnE5bFNHcXM4X0ZzZDB5dkJZZXRlY1M2VV9DT19GcVBvOVdFajljVGdYakdIX2dGSFZMOTJhSTVZN2tvcVdHWmROUUlXYVpiN1JFaDVlU2UtbEJoU29TUUZ2MVZickhFeElTOTVZNzR1X0VrcVRWVnRn?oc=5) · GoUpstate
- 2017-07-14 [Rexroad Talks CresCom, First South - WilmingtonBiz](https://news.google.com/rss/articles/CBMilAFBVV95cUxNYTRZVS1Ed2c5U0lDYllfenE3ZzBZaUNTTDFuRmdMZDFyNUszSUR1bEZwejVYTGgwem1uSV9LenlEbHhuVnJpdW9VMjF6S0gyVTBhWl9NUnkzTHhVNzVlbHpvcjlOLWlkbjkzZUZtMW5ZWG1rTTZiSFY5VzhSXy1jS2lUYVByVEYxWkRnU0RZckdsSVRn?oc=5) · WilmingtonBiz
- 2016-07-21 [Obituary for William "Chip" Lyerly, III - Barr-Price Funeral Home](https://news.google.com/rss/articles/CBMiY0FVX3lxTFBUQlBkd3RONHd1aUlSY19rRWZxLVR2X0F1cFdaczFKTEJ6NHkyd0RoUjMwRl9OMTdaQjFtNHptY05oNmlEd2RvX01qN3U1S0MzaDVKSG5JOHZvV0lBQlNzMjRhNA?oc=5) · Barr-Price Funeral Home
- 2018-01-02 [Banks Marked Year Of Expansion, Mergers - WilmingtonBiz](https://news.google.com/rss/articles/CBMiowFBVV95cUxNSjVYRV96ZlByRHAyeTZGOUo1SzhQMHRkNTA5bDZ5NUc2R0NmaXZELWpITU12UktENlVEUjdsQURVMDhEYWdJMmJzNmhDUnM2RFBLWVYwZlgwQnFkazVJTkNyeDR5UnJ6UmxCdG1GQzZCTzI0QkN6OUdhaldfSzhNZlZrMllYNXRlZEl3Uks1ZmVlb0I4cEoxaXU5azlOQlVwbThV?oc=5) · WilmingtonBiz
- 2014-07-21 [Claim made against estate of banker who killed herself - Greenville Online](https://news.google.com/rss/articles/CBMitgFBVV95cUxPT0t1ejBKbzg0UzFuejExLW1EenFPOXV5d195T045RkxMTE1rbUhOOTIyb3dSbmhyVVpLWC1YMEsteTU4THpQS3M2TEpyS29zM2c4djN0dERCbVB4WUJwUDlxM0Nac0xwc3JsMFAzNUUtN2xzeC1PVXdvMjRRb3ZjWlFkWWo1dE5XQUlKQXN6TmotSkcwTFVySVdULVh6RHJaX095RnpEWUN6YVJtLUhZMmhzRTJUdw?oc=5) · Greenville Online

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=34222 (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/46.json (key "34222", 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