Covington County Bank in Collins, Mississippi (MS)
| Covington County Bank | |
|---|---|
| General | FDIC Certificate #: 21998 Status: Active Federal Reserve ID: 697035 Bank Holding Company (Regulatory Top Holder): Covington Capital Corporation (RSSDID: 2228590, Location: Collins, MS) Date Established: May 01, 1975 WWW: http://www.covcobank.com Trust Powers Granted: Yes Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Domestic: 1, Interstate: No) FDIC's unique #: 15257 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Agricultural lending institution: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: Yes Subchapter S Corporations: No Asset Concentration Hierarchy: Agricultural Specialization Date of Deposit Insurance: May 01, 1975 Last Structure Change Effective Date: March 31, 2006 Last Structure Change Process Date: November 03, 2006 Last Data Update: November 03, 2006 Data Source Date: April 05, 2012 |
| Location | Address: 102 S Dogwood Ave, Collins, MS 39428 County: Covington 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 |
| History of Changes | Corrections Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $55.9 mil Equity capital: $6.1 mil Deposits held in domestic offices: $49.1 mil Return on assets (ROA): 0.19% ($0.1 mil) Quarterly return on assets: 0.51% ($0.3 mil) Return on Equity (ROE): 1.70% ($0.1 mil) Quarterly return on equity: 4.56% ($0.3 mil) Net income: $0.1 mil Quarterly Net income: $0.1 mil Pretax return on assets: 0.24% ($134.2 mil) Quarterly Pretax return on assets: 0.63% ($352.3 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 16 |
| Total assets | $55,922 |
| Cash and due from depository institutions | $1,922 |
| Interest-bearing balances | $0 |
| Securities | $19,036 |
| Federal funds sold & reverse repurchase agreements | $3,225 |
| Net loans & leases | $29,667 |
| Loan loss allowance | $212 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $441 |
| Other real estate owned | $222 |
| Goodwill and other intangibles | $0 |
| All other assets | $1,409 |
| Life insurance assets | $55,922 |
| Total liabilities and capital | $49,811 |
| Total liabilities | $49,150 |
| Total deposits | $33,488 |
| Interest-bearing deposits | $49,150 |
| Deposits held in domestic offices | $95 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $473 |
| Other borrowed funds | $0 |
| Subordinated debt | $188 |
| All other liabilities | $6,111 |
| Total equity capital | $6,111 |
| Total bank equity capital | $6,111 |
| Perpetual preferred stock | $0 |
| Common stock | $563 |
| Surplus | $5,883 |
| Undivided profits | $-335 |
| 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 | $579 |
| Earning assets | $54 |
| Long-term assets (5+ years) | $356 |
| Average Assets, year-to-date | $51,928 |
| Average Assets, quarterly | $5,967 |
| Volatile liabilities | $55,504 |
| Insider loans | $55,040 |
| FHLB advances | $46,420 |
| Loans and leases held for sale | $53,771 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $6,459 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $2,756 |
| Derivatives | $61 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $2,399 |
| Total interest expense | $427 |
| Net interest income | $1,972 |
| Provision for loan and lease losses | $0 |
| Total noninterest income | $427 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $335 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $92 |
| Total noninterest expense | $1,837 |
| Salaries and employee benefits | $852 |
| Premises and equipment expense | $280 |
| Additional noninterest expense | $705 |
| Pre-tax net operating income | $562 |
| Securities gains (losses) | -$431 |
| Applicable income taxes | $27 |
| Income before extraordinary items | $104 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $104 |
| Net charge-offs | $0 |
| Cash dividends | $104 |
| Sale, conversion, retirement of capital stock, net | $91 |
| Net operating income | $205 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.65% |
| Cost of funding earning assets | 0.83% |
| Net interest margin | 3.82% |
| Noninterest income to earning assets | 0.83% |
| Noninterest expense to earning assets | 3.56% |
| Net operating income to assets | 0.80% |
| Return on assets (ROA) | 0.19% |
| Pretax return on assets | 0.24% |
| Return on equity (ROE) | 1.70% |
| Retained earnings to average equity (YTD only) | -1.65% |
| Net charge-offs to loans | 0.33% |
| Credit loss provision to net charge-offs | 0.00% |
| Efficiency ratio | 6.18% |
| Assets per employee | $76,574 |
| Cash dividends to net income (YTD only) | 3.50% |
| Condition Ratios (%) | |
| Loss allowance to loans | 197.12% |
| Loss allowance to noncurrent loans | 0.71% |
| Noncurrent assets plus other real estate owned to assets | 36.61% |
| Noncurrent loans to loans | 2.48% |
| Net loans and leases to deposits | 1.94% |
| Net loans and leases to core deposits | 60.36% |
| Equity capital to assets | 61.47% |
| Core capital (leverage) ratio | 10.93% |
| Tier 1 risk-based capital ratio | 12.01% |
| Total risk-based capital ratio | 13.91% |
| Memoranda | |
| Average assets | $14 |
| Average earning assets | $55,504 |
| Average equity | $6,126 |
| Average loans | $51,595 |
| 1 Mississippi Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 15257 | Covington County Bank | 102 S Dogwood Ave, Collins, MS 39428 | May 01, 1975 | Full Service Brick and Mortar |  |
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