Southcoast Financial Corp (SOCB) financial statements (2022 and earlier)

Company profile

Business Address POST OFFICE BOX 1561
MT PLEASANT, SC 29465
State of Incorp. SC
Fiscal Year End December 31
SIC 6022 - State Commercial Banks (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2015
12/31/2014
12/31/2013
12/31/2012
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 33,572  
Cash and cash equivalents 33,572  
Total current assets: 33,572  
Noncurrent Assets
Property, plant and equipment19,27720,45521,15021,653
Total noncurrent assets:19,27720,45521,15021,653
Other undisclosed assets483,533422,806426,234416,568
TOTAL ASSETS:502,810476,833447,384438,221
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt6,7603,8024,8185,949
Total current liabilities:6,7603,8024,8185,949
Noncurrent Liabilities
Other undisclosed liabilities444,210425,726399,997398,008
Total liabilities:450,970429,528404,815403,957
Stockholders' equity
Stockholders' equity attributable to parent51,84047,30542,56934,264
Common stock54,69454,64354,54454,437
Accumulated other comprehensive loss(716)(1,138)(2,038)(1,171)
Accumulated deficit(2,138)(6,200)(9,937)(19,002)
Total stockholders' equity:51,84047,30542,56934,264
TOTAL LIABILITIES AND EQUITY:502,810476,833447,384438,221

Income statement (P&L) ($ in thousands)

12/31/2015
12/31/2014
12/31/2013
12/31/2012
Revenues21,18519,797  
Net investment income19,42118,150  
Gross profit:21,18519,797  
Operating expenses(10,478)(10,237)(8,952)(8,437)
Other operating income, net
(Noninterest Income, Other Operating Income)
208173161348
Operating income (loss):10,9159,733(8,791)(8,089)
Nonoperating income 7503391,240
Gains on sales of other real estate 6413391,240
Interest and debt expense(3,437)(3,581)(3,858)(4,860)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(1,109)(1,561)14,78515,364
Income from continuing operations before income taxes:6,3695,3412,4753,655
Income tax expense (benefit)(2,307)(1,604)6,590(137)
Net income available to common stockholders, diluted:4,0623,7379,0653,518

Comprehensive Income ($ in thousands)

12/31/2015
12/31/2014
12/31/2013
12/31/2012
Net income:4,0623,7379,0653,518
Other comprehensive income (loss)422900(867)(121)
Comprehensive income, net of tax, attributable to parent:4,4844,6378,1983,397

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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