Magnolia State Bank in Bay Springs, Mississippi (MS)
| Magnolia State Bank | |
|---|---|
| General | FDIC Certificate #: 22081 Status: Active Federal Reserve ID: 34434 Bank Holding Company (Regulatory Top Holder): Magnolia State Corporation, The (RSSDID: 1084016, Location: Bay Springs, MS) Date Established: August 04, 1975 WWW: http://www.bankmagnolia.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 10 (Domestic: 10, Interstate: No) FDIC's unique #: 15331 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: August 04, 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: 15 East Sixth Avenue, Bay Springs, MS 39422 County: Jasper 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 Core Based Statistical Area (CBSA): Laurel, MS (#29860) CBSA Micro Statistical Area: Yes |
| History of Changes | Change in Location Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $264.5 mil Equity capital: $26.2 mil Deposits held in domestic offices: $236.3 mil Return on assets (ROA): 1.49% ($3.9 mil) Quarterly return on assets: 0.90% ($2.4 mil) Return on Equity (ROE): 17.16% ($4.5 mil) Quarterly return on equity: 9.66% ($2.5 mil) Net income: $3.8 mil Quarterly Net income: $0.6 mil Pretax return on assets: 1.52% ($4,020.3 mil) Quarterly Pretax return on assets: 1.01% ($2,671.4 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 92 |
| Total assets | $264,492 |
| Cash and due from depository institutions | $9,849 |
| Interest-bearing balances | $0 |
| Securities | $42,792 |
| Federal funds sold & reverse repurchase agreements | $3,888 |
| Net loans & leases | $195,099 |
| Loan loss allowance | $1,576 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $8,003 |
| Other real estate owned | $694 |
| Goodwill and other intangibles | $798 |
| All other assets | $3,369 |
| Life insurance assets | $264,492 |
| Total liabilities and capital | $238,247 |
| Total liabilities | $236,341 |
| Total deposits | $215,878 |
| Interest-bearing deposits | $236,341 |
| Deposits held in domestic offices | $99 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $1,906 |
| All other liabilities | $26,245 |
| Total equity capital | $26,245 |
| Total bank equity capital | $26,245 |
| Perpetual preferred stock | $0 |
| Common stock | $325 |
| Surplus | $14,075 |
| Undivided profits | $11,845 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $7,746 |
| Income earned, not collected on loans | $401 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $1,177 |
| Average Assets, year-to-date | $241,779 |
| Average Assets, quarterly | $50,148 |
| Volatile liabilities | $255,150 |
| Insider loans | $263,779 |
| FHLB advances | $178,497 |
| Loans and leases held for sale | $261,329 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $24,466 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $15,217 |
| Derivatives | $1,311 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $13,253 |
| Total interest expense | $2,013 |
| Net interest income | $11,240 |
| Provision for loan and lease losses | $840 |
| Total noninterest income | $2,674 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $715 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $1,959 |
| Total noninterest expense | $9,407 |
| Salaries and employee benefits | $5,152 |
| Premises and equipment expense | $1,333 |
| Additional noninterest expense | $2,922 |
| Pre-tax net operating income | $3,667 |
| Securities gains (losses) | $211 |
| Applicable income taxes | $71 |
| Income before extraordinary items | $3,807 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $3,807 |
| Net charge-offs | $0 |
| Cash dividends | $3,807 |
| Sale, conversion, retirement of capital stock, net | $340 |
| Net operating income | $1,989 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.67% |
| Cost of funding earning assets | 0.86% |
| Net interest margin | 4.81% |
| Noninterest income to earning assets | 1.14% |
| Noninterest expense to earning assets | 4.02% |
| Net operating income to assets | 1.41% |
| Return on assets (ROA) | 1.49% |
| Pretax return on assets | 1.52% |
| Return on equity (ROE) | 17.16% |
| Retained earnings to average equity (YTD only) | 8.20% |
| Net charge-offs to loans | 0.18% |
| Credit loss provision to net charge-offs | 247.06% |
| Efficiency ratio | 13.26% |
| Assets per employee | $67,515 |
| Cash dividends to net income (YTD only) | 2.87% |
| Condition Ratios (%) | |
| Loss allowance to loans | 52.25% |
| Loss allowance to noncurrent loans | 0.80% |
| Noncurrent assets plus other real estate owned to assets | 393.02% |
| Noncurrent loans to loans | 0.41% |
| Net loans and leases to deposits | 0.20% |
| Net loans and leases to core deposits | 82.55% |
| Equity capital to assets | 85.79% |
| Core capital (leverage) ratio | 9.92% |
| Tier 1 risk-based capital ratio | 9.36% |
| Total risk-based capital ratio | 13.71% |
| Memoranda | |
| Average assets | $15 |
| Average earning assets | $255,150 |
| Average equity | $22,181 |
| Average loans | $233,767 |
| 10 Mississippi Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 15331 | Magnolia State Bank | 15 East Sixth Avenue, Bay Springs, MS 39422 | August 04, 1975 | Full Service Brick and Mortar |  |
| 1 | 254045 | Heidelberg Branch | 407 Main Street, Heidelberg, MS 39439 | September 13, 1976 | Full Service Brick and Mortar |  |
| 2 | 254046 | Downtown Motor Branch | 10 Thigpen Street, Bay Springs, MS 39422 | Febuary 05, 1979 | Limited Service Facility | |
| 4 | 254048 | Taylorsville Branch | 748 Highway 28 East, Taylorsville, MS 39168 | November 13, 1989 | Full Service Brick and Mortar | |
| 5 | 441477 | Laurel Branch | 3220 Highway 15 North, Laurel, MS 39440 | July 06, 2005 | Full Service Brick and Mortar | |
| 6 | 465733 | Petal Branch | 1227 Highway 42, Suite 110, Petal, MS 39465 | July 17, 2007 | Full Service Brick and Mortar | |
| 7 | 496084 | Greenwood Lpo/Dpo | 107 Fulton Street, Greenwood, MS 38930 | November 02, 2009 | Limited Service Loan Production | |
| 8 | 496085 | Lucedale Lpo/Dpo | 5168 Main Street, Lucedale, MS 39452 | November 02, 2009 | Limited Service Loan Production | |
| 9 | 501269 | Hattiesburg Branch | 560 Weathersby Road, Hattiesburg, MS 39402 | January 20, 2010 | Full Service Brick and Mortar | |
| 10 | 526491 | Flowood Branch | 437 Katherine Drive, Flowood, MS 39232 | November 01, 2011 | Full Service Brick and Mortar | |
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