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These excerpts taken from the FCBC 10-K filed Mar 13, 2009. Deposits
Total deposits were $1.50 billion at December 31,
2008, an increase of $110.32 million from
$1.39 billion at December 31, 2007.
$137.06 million of the increase is attributable to the
acquisition of Coddle Creek. Noninterest-bearing demand deposits
decreased during 2008 by $24.38 million while
interest-bearing demand deposits increased $31.55 million.
Savings deposits, which consist of money market accounts and
savings accounts, decreased $18.11 million during 2008
while time deposits increased $121.26 million, primarily
attributable to Coddle Creek. Movement among product types
during the year reflects a general migration toward
interest-bearing and higher yielding account types as customers
searched for yield opportunities in a falling rate environment.
Average total deposits decreased slightly to $1.37 billion
for 2008. Average interest-bearing demand deposits increased
$26.95 million during 2008. Average noninterest-bearing
demand deposits and savings deposits decreased
$16.79 million and $18.61 million during 2008,
respectively. Average time deposits decreased
$26.27 million in 2008. In 2008, the average rate paid on
interest bearing deposits was 2.57%, down 72 basis points
from 3.29% in 2007. Throughout 2008, the Company decreased its
higher-rate certificates of deposit and money market accounts.
The increase in interest-bearing demand deposits can be
attributed to growth in the Company’s fee-based,
interest-bearing checking accounts and associated rewards
program.
Deposits
Total deposits were $1.50 billion at December 31,
2008, an increase of $110.32 million from
$1.39 billion at December 31, 2007.
$137.06 million of the increase is attributable to the
acquisition of Coddle Creek. Noninterest-bearing demand deposits
decreased during 2008 by $24.38 million while
interest-bearing demand deposits increased $31.55 million.
Savings deposits, which consist of money market accounts and
savings accounts, decreased $18.11 million during 2008
while time deposits increased $121.26 million, primarily
attributable to Coddle Creek. Movement among product types
during the year reflects a general migration toward
interest-bearing and higher yielding account types as customers
searched for yield opportunities in a falling rate environment.
Average total deposits decreased slightly to $1.37 billion
for 2008. Average interest-bearing demand deposits increased
$26.95 million during 2008. Average noninterest-bearing
demand deposits and savings deposits decreased
$16.79 million and $18.61 million during 2008,
respectively. Average time deposits decreased
$26.27 million in 2008. In 2008, the average rate paid on
interest bearing deposits was 2.57%, down 72 basis points
from 3.29% in 2007. Throughout 2008, the Company decreased its
higher-rate certificates of deposit and money market accounts.
The increase in interest-bearing demand deposits can be
attributed to growth in the Company’s fee-based,
interest-bearing checking accounts and associated rewards
program.
Deposits Total deposits were $1.50 billion at December 31, 2008, an increase of $110.32 million from $1.39 billion at December 31, 2007. $137.06 million of the increase is attributable to the acquisition of Coddle Creek. Noninterest-bearing demand deposits decreased during 2008 by $24.38 million while interest-bearing demand deposits increased $31.55 million. Savings deposits, which consist of money market accounts and savings accounts, decreased $18.11 million during 2008 while time deposits increased $121.26 million, primarily attributable to Coddle Creek. Movement among product types during the year reflects a general migration toward interest-bearing and higher yielding account types as customers searched for yield opportunities in a falling rate environment. Average total deposits decreased slightly to $1.37 billion for 2008. Average interest-bearing demand deposits increased $26.95 million during 2008. Average noninterest-bearing demand deposits and savings deposits decreased $16.79 million and $18.61 million during 2008, respectively. Average time deposits decreased $26.27 million in 2008. In 2008, the average rate paid on interest bearing deposits was 2.57%, down 72 basis points from 3.29% in 2007. Throughout 2008, the Company decreased its higher-rate certificates of deposit and money market accounts. The increase in interest-bearing demand deposits can be attributed to growth in the Company’s fee-based, interest-bearing checking accounts and associated rewards program. Deposits Total deposits were $1.50 billion at December 31, 2008, an increase of $110.32 million from $1.39 billion at December 31, 2007. $137.06 million of the increase is attributable to the acquisition of Coddle Creek. Noninterest-bearing demand deposits decreased during 2008 by $24.38 million while interest-bearing demand deposits increased $31.55 million. Savings deposits, which consist of money market accounts and savings accounts, decreased $18.11 million during 2008 while time deposits increased $121.26 million, primarily attributable to Coddle Creek. Movement among product types during the year reflects a general migration toward interest-bearing and higher yielding account types as customers searched for yield opportunities in a falling rate environment. Average total deposits decreased slightly to $1.37 billion for 2008. Average interest-bearing demand deposits increased $26.95 million during 2008. Average noninterest-bearing demand deposits and savings deposits decreased $16.79 million and $18.61 million during 2008, respectively. Average time deposits decreased $26.27 million in 2008. In 2008, the average rate paid on interest bearing deposits was 2.57%, down 72 basis points from 3.29% in 2007. Throughout 2008, the Company decreased its higher-rate certificates of deposit and money market accounts. The increase in interest-bearing demand deposits can be attributed to growth in the Company’s fee-based, interest-bearing checking accounts and associated rewards program. These excerpts taken from the FCBC 10-K filed Mar 13, 2008. Deposits
Total deposits decreased by $1.33 million during 2007.
Noninterest-bearing demand deposits decreased during 2007 by
$20.68 million while interest-bearing demand deposits
increased $12.99 million. Savings deposits, which consist
of money market accounts and savings accounts, increased
$10.01 million during 2007 while time deposits decreased
$3.65 million.
Average total deposits decreased slightly to $1.41 billion
for 2007. Average interest-bearing demand deposits and time
deposits increased $1.61 million and $17.62 million
during 2007, respectively. Average noninterest-bearing demand
deposits and savings deposits decreased $9.13 million and
$12.89 million during 2007, respectively. In 2007, the
average rate paid on interest bearing deposits was 3.29%, up
40 basis points from 2.89% in 2006. The attrition from
interest-bearing demand and savings deposits and the continued
increase in time deposits reflects the migration of new and
current customer funds in response to the upward movement in
time deposit interest rates during most of 2007.
Deposits Total deposits decreased by $1.33 million during 2007. Noninterest-bearing demand deposits decreased during 2007 by $20.68 million while interest-bearing demand deposits increased $12.99 million. Savings deposits, which consist of money market accounts and savings accounts, increased $10.01 million during 2007 while time deposits decreased $3.65 million. Average total deposits decreased slightly to $1.41 billion for 2007. Average interest-bearing demand deposits and time deposits increased $1.61 million and $17.62 million during 2007, respectively. Average noninterest-bearing demand deposits and savings deposits decreased $9.13 million and $12.89 million during 2007, respectively. In 2007, the average rate paid on interest bearing deposits was 3.29%, up 40 basis points from 2.89% in 2006. The attrition from interest-bearing demand and savings deposits and the continued increase in time deposits reflects the migration of new and current customer funds in response to the upward movement in time deposit interest rates during most of 2007. This excerpt taken from the FCBC 10-K filed Mar 12, 2007. Deposits
Total deposits decreased by $8.5 million, or 0.6%, during
2006. Noninterest-bearing demand deposits increased during 2006
by $14.2 million, or 6.2%, while interest-bearing demand
deposits decreased $3.7 million, or 2.6%. Savings deposits,
which consist of money market accounts and passbook savings,
decreased $37.5 million during 2006, or 10.6%, while time
deposits increased $18.6 million, or 2.8%.
Average total deposits remained steady at $1.41 billion for
2006. Average non-interest bearing demand deposits and time
deposits increased $8.9 million and $21.9 million
during 2006, respectively. Average interest-bearing demand
deposits and savings deposits decreased $6.5 and
$24.5 million during 2006, respectively. In 2006, the
average rate paid on interest bearing deposits was 2.89%, up
significantly from 2.03% in 2005. The attrition from
interest-bearing demand and savings deposits and the continued
increase in time deposits reflects the migration of new and
current customer funds in response to the upward movement in
time deposit interest rates.
This excerpt taken from the FCBC 10-K filed Mar 15, 2006. Deposits
Total deposits grew by $46.9 million, or 3.4%, during 2005.
Noninterest-bearing demand deposits increased by
$9.0 million, or 4.1%, while interest-bearing demand
deposits decreased $5.8 million, or 3.9%. Savings deposits,
which are made of up money market accounts and passbook savings,
decreased $30.0 million, or 7.8%, while time deposits
increased $73.6 million, or 12.2%. The attrition from
savings and the increase in time deposits reflects the continued
migration of new and current customer funds in response to the
upward movement in time deposit interest rates. Adding to the
increase in time deposits were the results of the Company’s
successful first quarter certificate of deposit marketing
campaign.
Average total deposits increased to $1.41 billion for 2005
versus $1.34 billion in 2004, an increase of 5.0%. Average
savings deposits increased by $2.3 million while average
time deposits increased by $46.2 million. Average
interest-bearing demand and non-interest bearing demand deposits
increased by $3.3 million and $16.0 million,
respectively. In 2005, the average rate paid on interest bearing
deposits was 2.03%, up from 1.63% in 2004.
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