Charter Bank in Biloxi, Mississippi (MS)
| Charter Bank | |
|---|---|
| General | FDIC Certificate #: 58776 Status: Active Federal Reserve ID: 3715800 Date Established: March 11, 2008 WWW: http://www.mycharterbank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 4 (Domestic: 4, Interstate: No) FDIC's unique #: 467663 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: Yes Subchapter S Corporations: No Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: March 11, 2008 Last Structure Change Effective Date: March 11, 2008 Last Structure Change Process Date: July 06, 2010 Last Data Update: July 06, 2010 Data Source Date: April 05, 2012 |
| Location | Address: 1721 Medical Park Drive, Suite 103, Biloxi, MS 39531 County: Harrison Quarterly Banking Profile Region: Dallas FDIC Geographic Region: Dallas FDIC Supervisory Region: Dallas FDIC Field Office: Jackson Ms Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: West Metropolitan Statistical Area (MSA): Biloxi-Gulfport-Pascagoula, MS (#920) Combined Statistical Area (CSA): Gulfport-Biloxi-Pascagoula, MS (#274) Core Based Statistical Area (CBSA): Gulfport-Biloxi, MS (#25060) CBSA Metro Statistical Area: Gulfport-Biloxi, MS (#25060) |
| History of Changes | New Institution Change in Geographic Region/Area/Territory/Field Office |
| Financial Summary | Total assets: $99.5 mil Equity capital: $11.5 mil Deposits held in domestic offices: $85.2 mil Return on assets (ROA): 0.14% ($0.1 mil) Quarterly return on assets: 0.37% ($0.4 mil) Return on Equity (ROE): 1.20% ($0.1 mil) Quarterly return on equity: 3.14% ($0.3 mil) Net income: $0.1 mil Quarterly Net income: $0.1 mil Pretax return on assets: 0.17% ($169.2 mil) Quarterly Pretax return on assets: 0.40% ($398.2 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 26 |
| Total assets | $99,543 |
| Cash and due from depository institutions | $4,462 |
| Interest-bearing balances | $1 |
| Securities | $17,286 |
| Federal funds sold & reverse repurchase agreements | $575 |
| Net loans & leases | $70,361 |
| Loan loss allowance | $1,360 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $5,587 |
| Other real estate owned | $199 |
| Goodwill and other intangibles | $0 |
| All other assets | $1,073 |
| Life insurance assets | $99,543 |
| Total liabilities and capital | $88,082 |
| Total liabilities | $85,173 |
| Total deposits | $76,202 |
| Interest-bearing deposits | $85,173 |
| Deposits held in domestic offices | $82 |
| % insured (estimated) | 2500.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $409 |
| All other liabilities | $11,461 |
| Total equity capital | $11,461 |
| Total bank equity capital | $11,461 |
| Perpetual preferred stock | $0 |
| Common stock | $1,689 |
| Surplus | $15,317 |
| Undivided profits | $-5,545 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $0 |
| Income earned, not collected on loans | $436 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $351 |
| Average Assets, year-to-date | $88,223 |
| Average Assets, quarterly | $18,678 |
| Volatile liabilities | $94,875 |
| Insider loans | $97,984 |
| FHLB advances | $75,422 |
| Loans and leases held for sale | $97,102 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $11,434 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $7,075 |
| Derivatives | $4,238 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $4,502 |
| Total interest expense | $1,049 |
| Net interest income | $3,453 |
| Provision for loan and lease losses | $23 |
| Total noninterest income | $196 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $100 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $96 |
| Total noninterest expense | $3,488 |
| Salaries and employee benefits | $1,816 |
| Premises and equipment expense | $607 |
| Additional noninterest expense | $1,065 |
| Pre-tax net operating income | $138 |
| Securities gains (losses) | $24 |
| Applicable income taxes | $28 |
| Income before extraordinary items | $134 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $134 |
| Net charge-offs | $0 |
| Cash dividends | $134 |
| Sale, conversion, retirement of capital stock, net | $210 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.28% |
| Cost of funding earning assets | 1.23% |
| Net interest margin | 4.05% |
| Noninterest income to earning assets | 0.23% |
| Noninterest expense to earning assets | 4.09% |
| Net operating income to assets | 0.12% |
| Return on assets (ROA) | 0.14% |
| Pretax return on assets | 0.17% |
| Return on equity (ROE) | 1.20% |
| Retained earnings to average equity (YTD only) | 1.20% |
| Net charge-offs to loans | 0.30% |
| Credit loss provision to net charge-offs | 10.95% |
| Efficiency ratio | 0.77% |
| Assets per employee | $95,588 |
| Cash dividends to net income (YTD only) | 3.83% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 1.90% |
| Noncurrent assets plus other real estate owned to assets | 311.93% |
| Noncurrent loans to loans | 0.64% |
| Net loans and leases to deposits | 0.61% |
| Net loans and leases to core deposits | 82.61% |
| Equity capital to assets | 99.88% |
| Core capital (leverage) ratio | 11.51% |
| Tier 1 risk-based capital ratio | 11.78% |
| Total risk-based capital ratio | 15.16% |
| Memoranda | |
| Average assets | $16 |
| Average earning assets | $94,875 |
| Average equity | $11,196 |
| Average loans | $85,235 |
| 4 Mississippi Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 467663 | Charter Bank | 1721 Medical Park Drive, Suite 103, Biloxi, MS 39531 | March 11, 2008 | Full Service Brick and Mortar |  |
| 1 | 493023 | Pascagoula Branch | 1519 Jackson Ave, Pascagoula, MS 39567 | March 11, 2008 | Full Service Brick and Mortar |  |
| 2 | 499524 | Ocean Springs Branch | 2206 Bienville Boulevard, Ocean Springs, MS 39564 | December 09, 2009 | Full Service Brick and Mortar | |
| 3 | 511140 | Orange Grove/Gulfport Branch | 12008 Highway 49, Gulfport, MS 39503 | August 02, 2010 | Full Service Brick and Mortar | |
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