First Southern Bank in Columbia, Mississippi (MS)
| First Southern Bank | |
|---|---|
| General | FDIC Certificate #: 31158 Status: Active Federal Reserve ID: 954671 Bank Holding Company (Regulatory Top Holder): First Federal Bancorp (RSSDID: 3394643, Location: Columbia, MS) Date Established: March 28, 1960 WWW: http://www.fsb-ms.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 7 (Domestic: 7, Interstate: No) OTS Docket #: 6468 FDIC's unique #: 43992 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: Yes Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: March 28, 1960 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: 1075 Highway 98, Columbia, MS 39429 County: Marion 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 | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $199.1 mil Equity capital: $17.1 mil Deposits held in domestic offices: $162.4 mil Return on assets (ROA): 0.87% ($1.7 mil) Quarterly return on assets: 0.84% ($1.7 mil) Return on Equity (ROE): 10.39% ($1.8 mil) Quarterly return on equity: 9.83% ($1.7 mil) Net income: $1.7 mil Quarterly Net income: $0.4 mil Pretax return on assets: 0.87% ($1,732.4 mil) Quarterly Pretax return on assets: 0.84% ($1,672.6 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 76 |
| Total assets | $199,121 |
| Cash and due from depository institutions | $11,290 |
| Interest-bearing balances | $6,727 |
| Securities | $29,491 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $142,565 |
| Loan loss allowance | $2,275 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $7,184 |
| Other real estate owned | $1,495 |
| Goodwill and other intangibles | $0 |
| All other assets | $7,096 |
| Life insurance assets | $199,121 |
| Total liabilities and capital | $181,995 |
| Total liabilities | $162,437 |
| Total deposits | $142,708 |
| Interest-bearing deposits | $162,437 |
| Deposits held in domestic offices | $86 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $19,132 |
| Other borrowed funds | $0 |
| Subordinated debt | $426 |
| All other liabilities | $17,126 |
| Total equity capital | $17,126 |
| Total bank equity capital | $17,126 |
| Perpetual preferred stock | $0 |
| Common stock | $330 |
| Surplus | $6,612 |
| Undivided profits | $10,184 |
| 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 | $914 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $1,024 |
| Average Assets, year-to-date | $178,783 |
| Average Assets, quarterly | $16,492 |
| Volatile liabilities | $194,000 |
| Insider loans | $198,471 |
| FHLB advances | $150,804 |
| Loans and leases held for sale | $198,471 |
| Unused loan commitments | $3,364 |
| Tier 1 (core) risk-based capital | $3,364 |
| Tier 2 risk-based capital | $16,616 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $9,037 |
| Derivatives | $3,067 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $10,141 |
| Total interest expense | $2,094 |
| Net interest income | $8,047 |
| Provision for loan and lease losses | $935 |
| Total noninterest income | $2,187 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $1,162 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $1,025 |
| Total noninterest expense | $7,605 |
| Salaries and employee benefits | $4,630 |
| Premises and equipment expense | $855 |
| Additional noninterest expense | $2,120 |
| Pre-tax net operating income | $1,694 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $1,694 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $1,694 |
| Net charge-offs | $0 |
| Cash dividends | $1,694 |
| Sale, conversion, retirement of capital stock, net | $901 |
| Net operating income | $550 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.87% |
| Cost of funding earning assets | 1.21% |
| Net interest margin | 4.65% |
| Noninterest income to earning assets | 1.26% |
| Noninterest expense to earning assets | 4.40% |
| Net operating income to assets | 0.87% |
| Return on assets (ROA) | 0.87% |
| Pretax return on assets | 0.87% |
| Return on equity (ROE) | 10.39% |
| Retained earnings to average equity (YTD only) | 7.01% |
| Net charge-offs to loans | 0.62% |
| Credit loss provision to net charge-offs | 103.77% |
| Efficiency ratio | 2.92% |
| Assets per employee | $74,311 |
| Cash dividends to net income (YTD only) | 2.62% |
| Condition Ratios (%) | |
| Loss allowance to loans | 32.47% |
| Loss allowance to noncurrent loans | 1.57% |
| Noncurrent assets plus other real estate owned to assets | 248.91% |
| Noncurrent loans to loans | 1.21% |
| Net loans and leases to deposits | 0.63% |
| Net loans and leases to core deposits | 87.77% |
| Equity capital to assets | 95.37% |
| Core capital (leverage) ratio | 8.60% |
| Tier 1 risk-based capital ratio | 8.37% |
| Total risk-based capital ratio | 11.02% |
| Memoranda | |
| Average assets | $12 |
| Average earning assets | $194,000 |
| Average equity | $16,311 |
| Average loans | $172,890 |
| 7 Mississippi Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 43992 | First Southern Bank | 1075 Highway 98, Columbia, MS 39429 | March 28, 1960 | Full Service Brick and Mortar |  |
| 1 | 444495 | Richton Branch | 502 North Front Street, Richton, MS 39476 | June 09, 2005 | Full Service Brick and Mortar |  |
| 3 | 444546 | Picayune Branch | 1321 Highway43 North, Picayune, MS 39466 | October 15, 2000 | Full Service Brick and Mortar | |
| 4 | 450405 | Second Street Branch | 340 Second Street, Columbia, MS 39429 | April 20, 2001 | Full Service Brick and Mortar | |
| 5 | 450406 | Petal Branch | 1048 Highway 42, Petal, MS 39465 | November 07, 2005 | Full Service Brick and Mortar | |
| 6 | 477892 | Carriere Office Branch | 7360 Highway 11 North, Carriere, MS 39426 | August 01, 2007 | Full Service Brick and Mortar | |
| 7 | 477893 | Oak Grove Branch | 5248 Old Highway 11, Hattiesburg, MS 39402 | November 01, 2007 | Full Service Brick and Mortar | |
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