PriorityOne Bank in Magee, Mississippi (MS)
| PriorityOne Bank | |
|---|---|
| General | FDIC Certificate #: 21906 Status: Active Federal Reserve ID: 956938 Bank Holding Company (Regulatory Top Holder): Priorityone Capital Corporation (RSSDID: 1084575, Location: Magee, MS) Date Established: January 27, 1975 WWW: http://www.priorityonebank.com Trust Powers Granted: Yes Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 11 (Domestic: 11, Interstate: No) OTS Docket #: 11673 FDIC's unique #: 15181 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: January 27, 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: 220 North Main Avenue, Magee, MS 39111 County: Simpson 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 Combined Statistical Area (CSA): Jackson-Yazoo City, MS (#298) Core Based Statistical Area (CBSA): Jackson, MS (#27140) CBSA Metro Statistical Area: Jackson, MS (#27140) |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $511.5 mil Equity capital: $53.6 mil Deposits held in domestic offices: $433.9 mil Return on assets (ROA): 1.18% ($6.0 mil) Quarterly return on assets: 1.38% ($7.1 mil) Return on Equity (ROE): 11.72% ($6.3 mil) Quarterly return on equity: 13.36% ($7.2 mil) Net income: $6.0 mil Quarterly Net income: $1.8 mil Pretax return on assets: 1.18% ($6,035.9 mil) Quarterly Pretax return on assets: 1.38% ($7,058.9 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 173 |
| Total assets | $511,515 |
| Cash and due from depository institutions | $15,121 |
| Interest-bearing balances | $6,077 |
| Securities | $91,977 |
| Federal funds sold & reverse repurchase agreements | $12,125 |
| Net loans & leases | $357,673 |
| Loan loss allowance | $7,336 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $13,017 |
| Other real estate owned | $242 |
| Goodwill and other intangibles | $268 |
| All other assets | $21,092 |
| Life insurance assets | $511,515 |
| Total liabilities and capital | $457,924 |
| Total liabilities | $433,863 |
| Total deposits | $388,369 |
| Interest-bearing deposits | $433,863 |
| Deposits held in domestic offices | $91 |
| % insured (estimated) | 700.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $19,600 |
| Other borrowed funds | $0 |
| Subordinated debt | $3,761 |
| All other liabilities | $53,591 |
| Total equity capital | $53,591 |
| Total bank equity capital | $53,591 |
| Perpetual preferred stock | $0 |
| Common stock | $2,300 |
| Surplus | $20,052 |
| Undivided profits | $31,239 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $1,923 |
| Income earned, not collected on loans | $11,591 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $2,672 |
| Average Assets, year-to-date | $467,852 |
| Average Assets, quarterly | $37,502 |
| Volatile liabilities | $508,214 |
| Insider loans | $511,180 |
| FHLB advances | $387,957 |
| Loans and leases held for sale | $506,316 |
| Unused loan commitments | $14,355 |
| Tier 1 (core) risk-based capital | $9,543 |
| Tier 2 risk-based capital | $53,519 |
| Total risk weighted assets | $4,812 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $19,209 |
| Derivatives | $666 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $24,327 |
| Total interest expense | $5,427 |
| Net interest income | $18,900 |
| Provision for loan and lease losses | $3,562 |
| Total noninterest income | $8,127 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $5,195 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $2,932 |
| Total noninterest expense | $16,267 |
| Salaries and employee benefits | $9,606 |
| Premises and equipment expense | $1,533 |
| Additional noninterest expense | $5,128 |
| Pre-tax net operating income | $7,198 |
| Securities gains (losses) | -$1,189 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $6,009 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $6,009 |
| Net charge-offs | $0 |
| Cash dividends | $6,009 |
| Sale, conversion, retirement of capital stock, net | $2,602 |
| Net operating income | $3,000 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.23% |
| Cost of funding earning assets | 1.17% |
| Net interest margin | 4.06% |
| Noninterest income to earning assets | 1.75% |
| Noninterest expense to earning assets | 3.50% |
| Net operating income to assets | 1.42% |
| Return on assets (ROA) | 1.18% |
| Pretax return on assets | 1.18% |
| Return on equity (ROE) | 11.72% |
| Retained earnings to average equity (YTD only) | 5.87% |
| Net charge-offs to loans | 0.71% |
| Credit loss provision to net charge-offs | 136.89% |
| Efficiency ratio | 4.14% |
| Assets per employee | $60,188 |
| Cash dividends to net income (YTD only) | 2.96% |
| Condition Ratios (%) | |
| Loss allowance to loans | 49.93% |
| Loss allowance to noncurrent loans | 2.01% |
| Noncurrent assets plus other real estate owned to assets | 63.29% |
| Noncurrent loans to loans | 3.08% |
| Net loans and leases to deposits | 3.18% |
| Net loans and leases to core deposits | 82.44% |
| Equity capital to assets | 85.58% |
| Core capital (leverage) ratio | 10.48% |
| Tier 1 risk-based capital ratio | 10.57% |
| Total risk-based capital ratio | 13.80% |
| Memoranda | |
| Average assets | $15 |
| Average earning assets | $508,214 |
| Average equity | $51,272 |
| Average loans | $464,981 |
| 11 Mississippi Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 15181 | Priorityone Bank | 220 North Main Avenue, Magee, MS 39111 | January 27, 1975 | Full Service Brick and Mortar |  |
| 1 | 253709 | Mendenhall Branch | 3066 Simpson Highway 13, Mendenhall, MS 39114 | September 10, 1976 | Full Service Brick and Mortar |  |
| 3 | 5456 | Collins Main Branch | 215 Main Street, Collins, MS 39428 | January 01, 1934 | Full Service Brick and Mortar | |
| 4 | 218700 | Seminary Branch | 217 W Main Street, Seminary, MS 39479 | June 09, 1965 | Full Service Brick and Mortar | |
| 6 | 14938 | Morton Branch | 164 Hwy 481 South, Morton, MS 39117 | May 22, 1974 | Full Service Brick and Mortar | |
| 7 | 253092 | Pelahatchie Branch | 528 Second Street, Pelahatchie, MS 39145 | August 16, 1976 | Full Service Brick and Mortar | |
| 8 | 253093 | Crossgates Branch | 1400 West Government Street, Brandon, MS 39042 | January 20, 1986 | Full Service Brick and Mortar | |
| 9 | 206255 | Pearl Branch | 3480 Highway 80 East, Pearl, MS 39208 | October 10, 1973 | Full Service Brick and Mortar | |
| 11 | 334340 | Hattiesburg Branch | 6276 Highway 98 West, Hattiesburg, MS 39402 | March 06, 2000 | Full Service Brick and Mortar | |
| 12 | 361451 | Richland Branch | 1021 Hwy, 49 South, Richland, MS 39218 | October 16, 2000 | Full Service Brick and Mortar | |
| 15 | 438885 | Magee Shopping Center Branch | 1596 Simpson Highway 49, Magee, MS 39111 | March 14, 2005 | Full Service Brick and Mortar | |
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