-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, Ra5YoREyUztUad28jirdWeKqDCxZN51KddkxbatCRvoGNdLDXEx6hOYfCBsQXl/j n0S0D7T7zwfYl9BXtzYStQ== 0000950168-94-000211.txt : 19940607 0000950168-94-000211.hdr.sgml : 19940607 ACCESSION NUMBER: 0000950168-94-000211 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19940211 ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19940606 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOUTHERN NATIONAL CORP /NC/ CENTRAL INDEX KEY: 0000092230 STANDARD INDUSTRIAL CLASSIFICATION: 6021 IRS NUMBER: 560939887 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-10853 FILM NUMBER: 94533096 BUSINESS ADDRESS: STREET 1: 500 N CHESTNUT ST CITY: LUMBERTON STATE: NC ZIP: 28358 BUSINESS PHONE: 9196712000 MAIL ADDRESS: STREET 1: 500 NORTH CHESTNUT STREET CITY: LUMBERTON STATE: NC ZIP: 28358 8-K/A 1 SOUTHERN NATIONAL CORP 8-K AMEND. 2 6/6/94 #89569.1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K/A AMENDMENT TO APPLICATION OR REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Southern National Corporation (Exact name of registrant as specified in its charter) Commission file number: 0-4641 AMENDMENT NO. 2 The undersigned registrant hereby amends the following items, financial statements, exhibits or other portions of its Current Report on Form 8-K dated February 11, 1994, as amended, as set forth in the pages attached hereto. Item 7(a). Financial statements of business acquired. Item 7(b). Proforma financial information. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this amendment to be signed on its behalf by the undersigned thereunto duly authorized. SOUTHERN NATIONAL CORPORATION Date: June 6, 1994 By: /s/ SHERRY A. KELLETT Sherry A. Kellett Executive Vice President and Controller Pursuant to Items 7(a) and 7(b) of the registrant's Current Report on Form 8-K dated February 11, 1994, as amended, the registrant hereby amends the following financial statements and proforma financial information: Item 7. FINANCIAL STATEMENTS AND EXHIBITS (a) Financial statements of business acquired: Consolidated Statement of Condition The First Savings Bank, FSB December 31, 1993 (Dollars in thousands) (Unaudited) Assets Cash and due from depository institutions $48,559 Interest-bearing bank balances 31,010 Federal funds sold and securities purchased under resale agreements or similar arrangements Investment securities 168,805 Securities available for sale 345,614 Loans held for sale 261,899 Loans and leases, net of unearned income 1,111,017 Less-allowance for losses (23,096) Net loans and leases 1,349,820 Premises and equipment, net 22,865 Other assets 48,395 Total assets $2,015,068 Liabilities and Shareholders' Equity Noninterest-bearing $125,237 Interest-bearing 1,361,336 Total deposits 1,486,573 Short-term borrowings 52,729 Accounts payable and accrued liabilities 80,802 Long-term debt 359,076 Total liabilities 1,979,180 Shareholders' equity: Common stock 9,233 Paid-in-capital 43,612 Retained earnings (16,957) Total shareholders' equity 35,888 Total liabilities and shareholders' equity $2,015,068 The First Savings Bank, FSB Consolidated Statement of Operations For the Six Months Ended December 31, 1993 (Dollars in thousands except per share data) (Unaudited) Interest Income Interest and fees on loans and leases $58,100 Interest and dividends on securities 14,803 Interest on temporary investments 418 Total interest income 73,321 Interest Expense Interest on deposits 26,122 Interest on short-term borrowings 914 Interest on long-term debt 8,927 Total interest expense 35,963 Net Interest Income 37,358 Provision for loan losses 16,504 Net Interest Income After Provision for Loan and Losses 20,854 Noninterest Income 4,718 Noninterest Expense 113,472 Earnings Income before income taxes (87,900) Provision for income taxes (20,846) Income before cumulative effect of changes in accounting principles (67,054) Less: cumulative effect of changes in accounting principles, net of income taxes 23,732 Net Income $(90,786) Per Common Share: Net Income: Primary Income before cumulative effect $(7.02) Less: cumulative effect, net of income taxes (2.49) Net income $(9.51) Fully-diluted Income before cumulative effect $(7.02) Less: cumulative effect, net of income taxes (2.49) Net income $(9.51) Average shares outstanding Primary 9,545,682 Fully-diluted 9,545,682 (b) Proforma combined financial information: Southern National Corporation And The First Savings Bank, FSB Proforma Combined Statement of Income For the Year Ended December 31, 1993 (Dollars in thousands except per share data) 1993 Interest Income Interest and fees on loans and leases $380,334 Interest and dividends on securities 136,254 Interest on temporary investments 2,090 Total interest income 518,678 Interest Expense Interest on deposits 183,413 Interest on short-term borrowings 15,329 Interest on long-term debt 23,118 Total interest expense 221,860 Net Interest Income 296,818 Provision for loan and lease losses 26,423 Net Interest Income After Provision for Loan and Lease Losses 270,395 Noninterest Income Service charges on deposit accounts 36,005 Nondeposit fees and commissions 23,686 Securities gains, net 12,979 Other income 11,227 Total noninterest income 83,897 Noninterest Expense Personnel expense 125,479 Occupancy and equipment expense 36,537 Federal deposit insurance expense 13,384 Foreclosed property expense 21,914 Other expense 123,041 Total noninterest expense 320,355 Earnings Income before income taxes 33,937 Provision for income taxes 19,629 Income before cumulative effect of changes in accounting principles 14,308 Less: cumulative effect of changes in accounting principles, net of income taxes 27,304 Net Income (12,996) Preferred dividend requirements 5,196 Income applicable to common shares $(18,192) Per Common Share Net income: Primary Income before cumulative effect $ 0.23 Less: cumulative effect 0.70 Net income $ (0.47) Fully-diluted Income before cumulative effect $ 0.23 Less: cumulative effect 0.70 Net income $ (0.47) Cash dividends paid per common share $ 0.64 -----END PRIVACY-ENHANCED MESSAGE-----