Southcoast Financial Corp. (SOCB, Financial) filed Quarterly Report for the period ended 2010-03-31.
Southcoast Financial Corp. has a market cap of $17.1 million; its shares were traded at around $3.7699 with and P/S ratio of 0.6.
is classified into two tiers. The Company's and the Bank's Tier 1 capital
consists of common shareholders' equity minus a portion of deferred tax assets
plus, in the case of the Company, junior subordinated debt subject to certain
limitations. The Company's and the Bank's Tier 2 capital consists of the
allowance for loan losses subject to certain limitations and, in the case of the
Company, its junior subordinated debt in excess of 25% of its Tier 1 capital. A
bank holding company's qualifying capital base for purposes of its risk-based
capital ratio consists of the sum of its Tier 1 and Tier 2 capital. The
regulatory minimum requirements are 4% for Tier 1 and 8% for total risk-based
capital. Southcoast and the Bank are also required to maintain capital at a
minimum level based on quarterly average assets, which is known as the leverage
ratio. Only the strongest bank holding companies and banks are allowed to
maintain capital at the minimum requirement. All others are subject to
maintaining ratios 100 to 200 basis points above the minimum. As of March 31,
2010, the Company and the Bank exceeded their capital requirements as shown in
the following table.
Capital Ratios
-
Well Capitalized Adequately Capitalized
(Dollars in thousands) Actual Requirement Requirement
- - -
Amount Ratio Amount Ratio Amount Ratio
- - - - - -
The Bank
Total capital (to risk-weighted assets) ........... $51,892 15.22% 34,088 10.00% 27,271 8.00%
Tier 1 capital (to risk-weighted assets) .......... 47,556 13.95% 20,453 6.00% 13,635 4.00%
Tier 1 capital (to average assets) ................ 47,556 9.66% 24,615 5.00% 19,692 4.00%
The Company
Total capital (to risk-weighted assets) ........... $59,844 17.21% N/A N/A 27,819 8.00%
Tier 1 capital (to risk-weighted assets) .......... 55,423 15.94% N/A N/A 13,910 4.00%
Tier 1 capital (to average assets) ................ 55,423 10.92% N/A N/A 20,295 4.00%
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Southcoast Financial Corp. has a market cap of $17.1 million; its shares were traded at around $3.7699 with and P/S ratio of 0.6.
Highlight of Business Operations:
r risk weights ranging from 0% to 100%. Under the risk-based standard, capitalis classified into two tiers. The Company's and the Bank's Tier 1 capital
consists of common shareholders' equity minus a portion of deferred tax assets
plus, in the case of the Company, junior subordinated debt subject to certain
limitations. The Company's and the Bank's Tier 2 capital consists of the
allowance for loan losses subject to certain limitations and, in the case of the
Company, its junior subordinated debt in excess of 25% of its Tier 1 capital. A
bank holding company's qualifying capital base for purposes of its risk-based
capital ratio consists of the sum of its Tier 1 and Tier 2 capital. The
regulatory minimum requirements are 4% for Tier 1 and 8% for total risk-based
capital. Southcoast and the Bank are also required to maintain capital at a
minimum level based on quarterly average assets, which is known as the leverage
ratio. Only the strongest bank holding companies and banks are allowed to
maintain capital at the minimum requirement. All others are subject to
maintaining ratios 100 to 200 basis points above the minimum. As of March 31,
2010, the Company and the Bank exceeded their capital requirements as shown in
the following table.
Capital Ratios
-
Well Capitalized Adequately Capitalized
(Dollars in thousands) Actual Requirement Requirement
- - -
Amount Ratio Amount Ratio Amount Ratio
- - - - - -
The Bank
Total capital (to risk-weighted assets) ........... $51,892 15.22% 34,088 10.00% 27,271 8.00%
Tier 1 capital (to risk-weighted assets) .......... 47,556 13.95% 20,453 6.00% 13,635 4.00%
Tier 1 capital (to average assets) ................ 47,556 9.66% 24,615 5.00% 19,692 4.00%
The Company
Total capital (to risk-weighted assets) ........... $59,844 17.21% N/A N/A 27,819 8.00%
Tier 1 capital (to risk-weighted assets) .......... 55,423 15.94% N/A N/A 13,910 4.00%
Tier 1 capital (to average assets) ................ 55,423 10.92% N/A N/A 20,295 4.00%
Read the The complete Report
