Beach First National Bank

3751 Robert M. Grissom Parkway Suite 100
Myrtle Beach, SC 29577


General Bank Information

FDIC Insured Yes
FDIC Certificate # 34242
Date Established 1996
Assets $0.60 billion
Loans $0.49 billion
Deposits $0.52 billion
Capital $0.03 billion

Beach First National Bank is an FDIC insured institution located in Myrtle Beach, SC. It was founded in 1996 and has approximately $0.59 billion in assets.

Beach First National Bank, Myrtle Beach, South Carolina, was closed April 9, 2010 by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Bank of North Carolina, Thomasville, North Carolina, to assume all of the deposits of Beach First National Bank.

For a more detailed analysis of Beach First National Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Bank Loan Profile?

The top three loan types in Beach First National Bank’s loan portfolio are 1-4 Family Residential Loans, Multifamily Mortgages, and Credit Card Loans.

Compared to other banks, Beach First National Bank’s loan portfolio does not show any specific loan specialty.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 0.00
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 0.00
Commercial Real Estate 0.00
Commercial and Industrial Loans 0.00
Farm Loans 0.00

Loan Rates

Your Current Location: Virginia, VA 20146

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Financial Details

Beach First National Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Beach First National Bank. The data is provided by the FDIC. All banks listed on are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Beach First National Bank U.S. Bank Average
146.33% 8.87%

The Texas Ratio compares the amount of loans at risk and the amount of owned real estate with the amount a bank has on hand to cover any losses. As of March 31, 2017, Beach First National Bank had $62,115,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $25,341,000 in equity and $17,108,000 in loans loss reserves. That gives it a Texas Ratio of 146.33%. The closer the Texas Ratio is to 100% and over, the less capital and reserves a bank has to absorb its loan losses.

Return on Equity
Beach First National Bank U.S. Bank Average
-70.47% 8.39%

Beach First National Bank has a Return on Equity of -70.47% versus the BestCashCow average of 8.39%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Beach First National Bank U.S. Bank Average
4.21% 11.94%

Beach First National Bank has a Capitalization of 4.21% versus the BestCashCow average of 11.94%. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Beach First National Bank Balance Sheet Analysis

As of November 30, -0001, Beach First National Bank had assets of $590,024,000, loans of $485,488,000, and deposits of $516,026,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

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