First South Bank


1450 John B White Sr Blvd
Spartanburg, SC 29306
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Notable Rates APY Vs.Others
Savings N.A. 0.85% →
1-Year CD N.A. 0.80% →
2-Year CD N.A. 0.80% →
5-Year CD N.A. 1.15% →
30-Year Mortgage N.A. 2.72% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

First South Bank is an FDIC insured institution located in Spartanburg, SC. It was founded in 1996 and has approximately $0.24 billion in assets. Customers can open an account at one of its 4 branches.

FDIC Insured Yes
FDIC Certificate # 34222
Date Established 1996
Assets $ 238.19 million
Loans $ 180.91 million
Deposits $ 208.13 million
Capital $ 26.33 million

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

Deposit Rates - September 23, 2021

Your Current Location: California, CA 92111


Loan Rates - September 23, 2021

Your Current Location: California, CA 92111

There are currently no loan rates available for First South Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - California 30 Year Fixed Mortgage Rates 2021

Lender APR Rate (%) Monthly
Learn More
NMLS ID: 330511
3.038% 3.000%
0.50 points
$1,222 fees
$1,055 Learn More

Featured - California Home Equity Line Of Credit Rates 2021

Lender APR (%)? Monthly Payment? Learn More
BMO Harris Bank
BMO Harris Bank
See Table
Intro APR 1.790 %
After Intro: 4.840 %
Intro Period: 6 months
$0 Learn More
More Info
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
2.240 %
$0 Learn More
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Note to First South Bank
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First South Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
San Diego,California

First South Bank Locations

Financial Details

First South Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First South 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
First South Bank U.S. Bank Average
22.57% 5.29%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2021, First South Bank had $4,061,000 in non-current loans and $2,402,000 in owned real estate. To cover these potential losses it had $26,333,000 in equity and $2,307,000 in loans loss reserves. That gives it a Texas Ratio of 22.57%.

Return on Equity
First South Bank U.S. Bank Average
19.14% 11.43%

First South Bank has a Return on Equity of 19.14% versus the BestCashCow average of 11.43%. 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.

First South Bank U.S. Bank Average
11.06% 11.51%

First South Bank has a Capitalization of 11.06% versus the BestCashCow average of 11.51. 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.

First South Bank Balance Sheet Analysis

As of March 31, 2019, First South Bank had assets of $235,752,000, loans of $180,913,000, and deposits of $208,132,000. 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.

Summary Balance Sheet

March 31, 2021
Cash & Balances due from depository institutions $ 6.22 million
Interest-bearing balances $ 0.81 million
Total securities $ 25.67 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 180.91 million
Loan loss allowance $ 2.31 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 2.40 million
Goodwill and other intangibles N.A.
All other assets $ 15.49 million
     Total Assets $ 209.42 million
Total deposits $ 208.13 million
      Interest-bearing deposits $ 193.91 million
      Deposits held in domestic offices $ 208.13 million
      % insured (estimated) 89.01%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 1.29 million
      Total Liabilities $ 209.42 million
      Shareholders’ Equity $ 28.77 million

Summary Income Statement

March 31, 2021
Total Interest Income $ 2.71 million
Total Interest Expense $ 0.72 million
Net interest income $ 1.99 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.20 million
Total non interest expense $ 1.76 million
Pre-tax Net Operating Income $ 0.43 million

Bank Loan Profile?

The top three loan types in First South Bank’s loan portfolio are Commercial Real Estate, Commercial and Industrial Loans, and 1-4 Family Residential Loans.

Compared to other banks in South Carolina, First South Bank has a significantly higher percent of Commercial Real Estate on its balance sheet, potentially indicating a specialty in that lending area.

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 18.08
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 7.83
Commercial Real Estate 47.69
Commercial and Industrial Loans 22.73
Farm Loans 0.00

Frequently Asked Questions About First South Bank

Branches and Savings

Is First South Bank FDIC insured?

Yes. It is covered under FDIC Certificate #34222.

Why does First South Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are First South Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is First South Bank a commercial bank?


Where are First South Bank locations?

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Is First South Bank open on Saturdays?

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Are First South Bank ATMs Open 24/7?

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Do First South Bank branches have notaries?

Will First South Bank notarize my document?

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Will the First South Bank branch print checks?

Do First South Bank checks expire?

Does First South Bank require US citizenship to open account?

Can First South Bank close my account?

Does First South Bank Report to credit bureaus?

Does First South Bank Use Equifax?

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What is First South Bank's SWIFT code?


Does First South Bank offer mortgages?

Compare mortgage rates here.

Does First South Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does First South Bank offer personal loans?

Compare personal loan rates here.

Does First South Bank offer student loans?

Will First South Bank cash a check?

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Does First South Bank cash savings bonds?

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Can First South Bank issue a money order?

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Background on The Bank

Who owns First South Bank?

How long has First South Bank been around?

Can First South Bank transfer to other banks?

Does First South Bank have quick pay?

Does First South Bank accept rolled coins?

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