# GRANDSOUTH BANK
GREENVILLE, SC · FDIC certificate 34812 · asset band $1-10B · latest filing 2022-12 · stopped filing (departed)

**Verdict on the desk:** this could be *funding-stretched*. 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 | $1.20B | |
| Deposits | $1.05B | |
| Loans and leases | $1.02B | |
| Total equity | $132.2M | |
| Loans / deposits | 95.38% (p77 of band) | 82.70% |
| Liquid assets / assets | 11.37% (p9 of band) | |
| Uninsured deposits / deposits | 40.51% (p70 of band) | 32.12% |
| Brokered deposits | 1.47% | |
| Wholesale funding | 1.88% (p25 of band) | |
| FHLB advances / assets | 0.42% | |
| Tier 1 leverage | 11.54% (p80 of band) | 9.80% |
| Unrealized securities loss / equity | -10.01% (p75 of band) | -22.81% |
| AOCI / equity | -8.60% (p64 of band) | |
| ROA (annualized) | 1.49% (p78 of band) | 1.17% |
| Net interest margin | 4.93% (p95 of band) | 3.41% |
| Efficiency ratio | 56.75% (p41 of band) | |
| Noncurrent loans | 0.11% (p27 of band) | 0.26% |
| Net charge-offs (annualized) | 0.09% (p86 of band) | |
| Reserve coverage of noncurrent | 1307.88% | |
| Real estate % of loans | 74% | |
| Construction % of loans | 100.37% (p79 of band) | |
| Auto loans | $3.7M (0.36% of loans; DQ 0.13%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p37 of band) | |
| Deposits YoY | -1.2% | |
| Employees | 191 | |

## Flags firing in the latest filing

- **construction >100% equity** (`conc_construction`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 4 | brokered >10%, wholesale funding >15%, reserve under noncurrent, construction >100% equity |  |
| 2011-06 | 3 |  | reserve under noncurrent |
| 2011-09 | 4 | capital falling |  |
| 2011-12 | 4 | reserve under noncurrent | construction >100% equity |
| 2012-03 | 2 |  | brokered >10%, capital falling |
| 2012-06 | 4 | charge-offs p90, uninsured deposits leaving |  |
| 2012-09 | 3 |  | uninsured deposits leaving |
| 2012-12 | 2 |  | wholesale funding >15% |
| 2013-03 | 1 |  | charge-offs p90 |
| 2013-06 | 3 | noncurrent p90, charge-offs p90 |  |
| 2013-09 | 4 | capital falling |  |
| 2013-12 | 4 |  |  |
| 2014-03 | 3 |  | charge-offs p90 |
| 2014-06 | 4 | charge-offs p90 |  |
| 2014-09 | 2 |  | capital falling, charge-offs p90 |
| 2014-12 | 2 |  |  |
| 2015-03 | 3 | brokered >10%, wholesale funding >15% | noncurrent p90 |
| 2015-06 | 2 | charge-offs p90 | brokered >10%, wholesale funding >15% |
| 2015-09 | 3 | capital falling |  |
| 2015-12 | 6 | loans exceed deposits, liquid assets <10%, construction >100% equity |  |
| 2016-03 | 2 |  | capital falling, loans exceed deposits, liquid assets <10%, construction >100% equity |
| 2016-06 | 2 |  |  |
| 2016-09 | 2 |  |  |
| 2016-12 | 3 | capital falling |  |
| 2017-03 | 3 |  |  |
| 2017-06 | 4 | noncurrent p90 |  |
| 2017-09 | 3 |  | noncurrent p90 |
| 2017-12 | 2 |  | reserve under noncurrent |
| 2018-03 | 3 | construction >100% equity |  |
| 2018-06 | 2 |  | charge-offs p90 |
| 2018-09 | 0 |  | capital falling, construction >100% equity |
| 2018-12 | 0 |  |  |
| 2019-03 | 1 | charge-offs p90 |  |
| 2019-06 | 1 |  |  |
| 2019-09 | 2 | capital falling |  |
| 2019-12 | 1 |  | charge-offs p90 |
| 2020-03 | 0 |  | capital falling |
| 2020-06 | 0 |  |  |
| 2020-09 | 1 | capital falling |  |
| 2020-12 | 0 |  | capital falling |
| 2021-03 | 0 |  |  |
| 2021-06 | 0 |  |  |
| 2021-09 | 0 |  |  |
| 2021-12 | 0 |  |  |
| 2022-03 | 0 |  |  |
| 2022-06 | 0 |  |  |
| 2022-09 | 0 |  |  |
| 2022-12 | 1 | construction >100% equity |  |

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

- 2023-03-13 [FIRST BANK COMPLETES GRANDSOUTH BANK CONVERSION - PR Newswire](https://news.google.com/rss/articles/CBMipgFBVV95cUxPN2ZoNllSS3RDM1d1NWdqT0wza2xJWTdOV3BQVVhvcFVtNjRFemFkZnZscllLampNVmFaOE10R19zbmgwQXhJUWtCSTVoc204T0pkdkhlLWlTTWRjd0dZdlFIQ0NCVC1UbHI5WHBoUUQ2eTFoZHNfYmd4RnNVUVc3aWRaaGV0Ml8zQXpHMktnOTJpOWdndEhhYjNOb19sYmY3emkzaTZB?oc=5) · PR Newswire
- 2020-03-12 [In a shrinking market, GrandSouth Bank sticks to its strengths - upstate business journal](https://news.google.com/rss/articles/CBMiggFBVV95cUxOVXMyQWdBU1MzR1ZsMVlOaEFuMlVyUkhWNjNzZ1E3RTBYbUp6cENPRnpfV3ZrNVlQd2lzQUxJc28tVzdRa2F4M0F4MXJobnUzNjdaN2Z1bmt3QkpZb3FhdHRKMGZhVTlzV3ZUbVpTdHAyeXpYckNFQm1uamhRSndnZ1hn?oc=5) · upstate business journal
- 2026-07-15 [First Bank strikes $166M deal for 90-year-old South Carolina institution - The Business Journals](https://news.google.com/rss/articles/CBMiogFBVV95cUxORjEtM3BkVm12cHRLX0tqQ3lORTVwOGhTVXZPOWhTZFNFRjlTVkNnMXRLRjBLYy1JUi1ibkdxZDFHeHRhclNqSnFMWXVDREs2REhJbHgydWZnNVZ0d3BBM3FzcmVrLWs1aXJaRFRQRjU0cWI4MV9CZndiQXljV2FxaF96WUJVcnFuU0ZpWElXbmVsQkJvai10QkZKcDkxcVdHNWc?oc=5) · The Business Journals
- 2022-06-21 [SC bank to be bought out by lender looking to grow in Palmetto State - Post and Courier](https://news.google.com/rss/articles/CBMi7wFBVV95cUxQM3RiSzFIeXhYeG5jUnBQTm1tM3FNS3ltOWxEam43b1dJdE90ZjNoV0lPdTh1SFZDbmVuQUczNmZRVHZFYkJTNURIYkpqenFCVERkbnU5NDJqSjhDWm5Xa0NPVEVmOFNaZWluVkNGdl9pVG95UUE4aS1ValJxSjU5SGRQQmRpRXVuYnBUNU0zMzBpOVhUZjJaX3VGZGJhejNhTVlQT0xxWTNfLXRWWFVBU0ljT0ZyWnF5UHdja0E1VVVTNVdlVldDRmVGVEtoM00xUnI1OGdjc2R2Qll1ckFYWVlJMkRzbHE0T2NKU0ZkTQ?oc=5) · Post and Courier
- 2024-01-29 [Arthur State Bank Promotes Five Leaders, Hires Two in a Time of Transition - SCBiz](https://news.google.com/rss/articles/CBMilwFBVV95cUxQd25TN25EcW9WQUp6OF9id2pPS2Y3dWFRcm1oSmhOQmJLbzZVYjVSMnlSSE9YMEVNVjJxV1RzT3FQLXpIRXRGd2QtNDAwUE1TdVdfdkdFWFBLV2xPN09iTXZ3U2tVZjFHaWlQc3l5c1hyamVWanFmRnd1THFzU0VZd3hvWmRpbjlGLW1IaVVOb0hFdWFvOHBr?oc=5) · SCBiz
- 2023-01-03 [FIRST BANCORP COMPLETES ACQUISITION OF GRANDSOUTH BANCORPORATION - PR Newswire](https://news.google.com/rss/articles/CBMivAFBVV95cUxPbG9SYm9wU1FnUU9kWWVDWWdkT2xJdXhiZDZKbWtSbXd3QUt4TDlEWmdnVS1Xbm5rNVNsMlMxOVBYM1RDY1AtVTl6MXpTUWY1WkQ5U3RqVXQzb2w0VmoyMlhkVVBIQjYwc2ZyWDFvekNjRVpXbTNNMDVNUU5kWTV5RzVKNnppc3ZibkpYS29LQzBzZWxHYUZxcUEyQzB3RXRORjh3dHdpNFd5SXdUWThzZ1FKSVpSY0czYlJVcQ?oc=5) · PR Newswire
- 2017-07-16 [GrandSouth Bank to celebrate grand opening - thetandd.com](https://news.google.com/rss/articles/CBMiwgFBVV95cUxNVFNKU1ZEOEFTUzdMUWN2RnpuYzROeTZCYXFGM29qeGVYdU9kdDdkZlNjdEduUGd0cEpSM0xlS2dFSnE1Q0pNRDI4clhaX0VKS2RhT1o3MnlCS1VNbVlmdkoyTWpVOG54TUZ5Vk5yOXFYVTR2Z3NBamU4a0ZRazdJTng1MWMxeXZlZHR3bk1NUlRSdEJyLTY4cnp2U0NCMFR5R0sxRDlWMWJlNkplRXBod052dWt0NU15U2owRUlkZ0k0Zw?oc=5) · thetandd.com
- 2020-09-14 [NBSC names a new top executive for bank's Charleston, coastal market - Post and Courier](https://news.google.com/rss/articles/CBMi7AFBVV95cUxOQ2o1RG16S1VFRS1HcnR4aGlUUkRLLTRkdXVuSDZRc3htcnZPYXlLbkFKWXVPYWxVejlRdzU4ZUNERWpsWjgwOEJoMlVoUVBPOHpNQjNFZVB3WHBWR1plR1JUa0llUUYxdkFkaHNaRnFvdUJzTVpQblVHd0tHdjlCR0pUWDJQNlJhaC1TWHFZUGJ3RjlQVE1mVlhpcm10aVY1bjV2dzdkMXFGeC1xd1M4RlpOcmdTYnRGVTVGdjBmc2t2ZlZiNHY0Q1JESXA3b2hYaU9VdUdudkQwSHUtc3VOOU1YTUVYZEI1VmZwOA?oc=5) · Post and Courier

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=34812 (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/60.json (key "34812", 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