# HERITAGE BANK OF THE SOUTH
ALBANY, GA · FDIC certificate 50028 · asset band $1-10B · latest filing 2015-06 · stopped filing (departed)

**Verdict on the desk:** this could be *credit-stressed*. Composite score 6 (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 | $1.86B | |
| Deposits | $1.37B | |
| Loans and leases | $1.49B | |
| Total equity | $152.5M | |
| Loans / deposits | 107.62% (p90 of band) | 86.37% |
| Liquid assets / assets | 11.53% (p10 of band) | |
| Uninsured deposits / deposits | 12.21% (p19 of band) | 24.34% |
| Brokered deposits | 3.38% | |
| Wholesale funding | 20.27% (p84 of band) | |
| FHLB advances / assets | 16.10% | |
| Tier 1 leverage | 7.91% (p7 of band) | 9.78% |
| Unrealized securities loss / equity | -1.16% (p10 of band) | 0.50% |
| AOCI / equity | 0.97% (p99 of band) | |
| ROA (annualized) | -0.12% (p1 of band) | 0.95% |
| Net interest margin | 4.93% (p96 of band) | 3.47% |
| Efficiency ratio | 100.29% (p99 of band) | |
| Noncurrent loans | 1.14% (p71 of band) | 0.76% |
| Net charge-offs (annualized) | 0.00% (p22 of band) | |
| Reserve coverage of noncurrent | 61.03% | |
| Real estate % of loans | 88% | |
| Construction % of loans | 83.29% (p90 of band) | |
| Auto loans | $4.9M (0.33% of loans; DQ 0.30%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p37 of band) | |
| Deposits YoY | 12.8% | |
| Employees | 569 | |

## Flags firing in the latest filing

- **loans exceed deposits** (`liq_ltd`)
- **wholesale funding >15%** (`liq_wholesale`)
- **capital falling** (`cap_falling`)
- **losing money** (`earn_negative`)
- **expense ratio p90** (`earn_efficiency`)
- **reserve under noncurrent** (`aq_reserve`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 1 | reserve under noncurrent |  |
| 2011-06 | 1 |  |  |
| 2011-09 | 1 |  |  |
| 2011-12 | 0 |  | reserve under noncurrent |
| 2012-03 | 2 | reserve under noncurrent, uninsured deposits leaving |  |
| 2012-06 | 2 |  |  |
| 2012-09 | 2 | deposits shrinking | uninsured deposits leaving |
| 2012-12 | 1 |  | deposits shrinking |
| 2013-03 | 2 | wholesale funding >15% |  |
| 2013-06 | 2 |  |  |
| 2013-09 | 2 |  |  |
| 2013-12 | 2 |  |  |
| 2014-03 | 4 | capital falling, expense ratio p90 |  |
| 2014-06 | 4 |  |  |
| 2014-09 | 3 |  | capital falling |
| 2014-12 | 3 |  |  |
| 2015-03 | 3 | capital falling | expense ratio p90 |
| 2015-06 | 6 | loans exceed deposits, losing money, expense ratio p90 |  |

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

- 2025-01-05 [Heritage buying five south Georgia bank branches - Albany Herald](https://news.google.com/rss/articles/CBMihgFBVV95cUxOcTdBdVlMSjBXdU14Tk43ZnZESzh5Nm5mUVVISVJqRzBPQW1CeWo4WjdtQXFrMmxaSnQtNHI3VGtCN05wSkpXaHo4YTdkR1Bkc0QwaTg2dDNKWDR0YUQwcEg3M2tEYWxZRGlRZkxvUm9Ha09BRllJS3ZOYXUzQ3V4ckFRVnUxUQ?oc=5) · Albany Herald
- 2022-11-04 [Mincey named Assistant Vice President of Citizens Bank of the South - griceconnect.com](https://news.google.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?oc=5) · griceconnect.com
- 2015-08-15 [Biggest little bank in the South - Montgomery Advertiser](https://news.google.com/rss/articles/CBMipwFBVV95cUxOQWdrR0hmN3VoRS1CTzlDc1VfTWoxQlhpcjdEVml0RWhRdDhnVXJzeHkzbmd1Y0hGT2QzYXcyYlJRT3VxNDlLNWZCMmJkMjN0Z2pqUzV1VXBUUGhIWGhPb21TRXAxWVlEVUpIWjJLOXhYYWVRZF9HOThhT2RWQzE0NWJmOWF1NHVWbVFONEFZSVAxdkNTaURjNlphSXdRNEg0REtVTjVjQQ?oc=5) · Montgomery Advertiser
- 2019-06-03 [Glenn E. Creech, Sr. Obituary Jun 3, 2019 - Mathews Funeral Home](https://news.google.com/rss/articles/CBMibkFVX3lxTE1MY1NIY0hsaGdCbEZSM1VhVUxPTmxuMmlwQ0RyaFdMal80U1MydkVvazZ3MkNaM3V1cHVrUlJMVVlReVNmWFc1R1hzOHI3RHdjMVhHOHZtS095WllfREZMcmVKSVRoMHdrMWFBaG5R?oc=5) · Mathews Funeral Home
- 2018-04-13 [Woman pleads guilty to bank embezzlement - Statesboro Herald](https://news.google.com/rss/articles/CBMihwFBVV95cUxNeXhiNjJLMTBLaXFsLURkRDRDRXV6UWxtc2diekVpbkFEUVIyVnJyTjEyTGkybWlCbTRpTWVrY21IdzZubHJXZFJRcHdfQjhJNjFncXBKdERta21wTTZTeWpjSl9lTGdyMmF3Y2VxM290UFFVN0M2d1FYQXUwNU10LXFsbHViQU0?oc=5) · Statesboro Herald
- 2024-12-04 [List of Recent Failed Banks in the United States (2023-2024) - Norada Real Estate Investments](https://news.google.com/rss/articles/CBMia0FVX3lxTE4zaWFvQzhqc24zdE1QZ1haYnk2b1NsLWxONmNTTV9jVldzbjZqLUM1NV85U3dyaENaUGhWVm0wdllpUlNMZlIteHExdVUzS0JTdXlRWTJiUGJfaEtZSk5wcWhNNG1ZS0U5Y0Vz?oc=5) · Norada Real Estate Investments
- 2021-02-14 [Business Briefs - Valdosta Daily Times](https://news.google.com/rss/articles/CBMib0FVX3lxTFBfemZiLUpEeF9DU3hWcDVISEdBV1lQUmJiS0dOODYyeDdKMDNDU0NmUTV3dzRodUJOeVhrMS1qR3lMYk0weGJHRlc2SXNvWU53MndEd3BmZDFDNWtuWmEwOXUtZ1RsU21lc0ZpRWhZQQ?oc=5) · Valdosta Daily Times
- 2021-05-14 [Morris Bank Welcomes New Commercial & Mortgage Lenders - griceconnect.com](https://news.google.com/rss/articles/CBMinwFBVV95cUxPRmIzMDFhTGlpaVFxSEhFd0xsUS1Xb2JrWFZYZGdHVkxaeUJhQVFnMnozMW8zLXJHMXk3T3RBd211S25mWTlaYk9qZHpmZUtnbV9oV1ZiNmNMRm9IbERZWmZ3bzFlbV82dndPcjE4bTFoaGZOTDUtZmU2SXlPQ2hlNk02MGo4SV9MMFJTTHM1d05yeXB2a2pveVplSTB1ckXSAaQBQVVfeXFMUHZodVE3WjZpZWZEUzZ0VGp5NWZFMkxxN29VWURuY3pZMlBxZGhoZ2phRUJ5YjkzNXpuQWE0bXVGODVjUV8xRGxhekZ3SUd3N0FyNXlISnNDakNYWjRRNkJfTmVTOUZMM21tZGpNeXV5RlkxQU5UTGVGZWxZSEtjYS1pR2JUR2JLWkMyWFR1SDhzMjJPaktPYWloVzdFY3lLOEFEMFc?oc=5) · griceconnect.com

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=50028 (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 "50028", 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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