Spirit Bank in Belmont, Mississippi (MS)
| Spirit Bank | |
|---|---|
| General | FDIC Certificate #: 34917 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution: Community Spirit Bank (#50) Federal Reserve ID: 2735959 Bank Holding Company (Regulatory Top Holder): Independent Bancshares, Inc. Employee Stock Ownership Plan (RSSDID: 3587294, Location: Red Bay, AL) Date Established: January 25, 1999 WWW: http://www.communityspiritbank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Domestic: 1, Interstate: No) FDIC's unique #: 61980 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: All Other Specialization < 1 Billion Date of Deposit Insurance: January 25, 1999 Last Structure Change Effective Date: January 01, 2012 Last Structure Change Process Date: January 11, 2012 Last Data Update: January 11, 2012 Data Source Date: April 05, 2012 |
| Location | Address: 342 Second Street, Belmont, MS 38827 County: Tishomingo 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 |
| Financial Summary | Total assets: $26.1 mil Equity capital: $2.4 mil Deposits held in domestic offices: $22.7 mil Return on assets (ROA): 0.47% ($0.1 mil) Quarterly return on assets: 0.81% ($0.2 mil) Return on Equity (ROE): 5.14% ($0.1 mil) Quarterly return on equity: 8.60% ($0.2 mil) Net income: $0.1 mil Quarterly Net income: $0.1 mil Pretax return on assets: 0.52% ($135.5 mil) Quarterly Pretax return on assets: 1.07% ($278.9 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 6 |
| Total assets | $26,067 |
| Cash and due from depository institutions | $4,304 |
| Interest-bearing balances | $3,359 |
| Securities | $10,029 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $10,329 |
| Loan loss allowance | $138 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $963 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $442 |
| Life insurance assets | $26,067 |
| Total liabilities and capital | $23,642 |
| Total liabilities | $22,745 |
| Total deposits | $18,582 |
| Interest-bearing deposits | $22,745 |
| Deposits held in domestic offices | $90 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $812 |
| Other borrowed funds | $0 |
| Subordinated debt | $85 |
| All other liabilities | $2,425 |
| Total equity capital | $2,425 |
| Total bank equity capital | $2,425 |
| Perpetual preferred stock | $0 |
| Common stock | $1,000 |
| Surplus | $875 |
| Undivided profits | $550 |
| 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 | $0 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $90 |
| Average Assets, year-to-date | $23,717 |
| Average Assets, quarterly | $10,751 |
| Volatile liabilities | $25,396 |
| Insider loans | $25,824 |
| FHLB advances | $13,423 |
| Loans and leases held for sale | $26,284 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $2,363 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $1,165 |
| Derivatives | $182 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $1,031 |
| Total interest expense | $286 |
| Net interest income | $745 |
| Provision for loan and lease losses | $21 |
| Total noninterest income | $163 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $111 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $52 |
| Total noninterest expense | $788 |
| Salaries and employee benefits | $279 |
| Premises and equipment expense | $151 |
| Additional noninterest expense | $358 |
| Pre-tax net operating income | $99 |
| Securities gains (losses) | $34 |
| Applicable income taxes | $14 |
| Income before extraordinary items | $119 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $119 |
| Net charge-offs | $0 |
| Cash dividends | $119 |
| Sale, conversion, retirement of capital stock, net | $3 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.46% |
| Cost of funding earning assets | 1.24% |
| Net interest margin | 3.23% |
| Noninterest income to earning assets | 0.71% |
| Noninterest expense to earning assets | 3.41% |
| Net operating income to assets | 0.35% |
| Return on assets (ROA) | 0.47% |
| Pretax return on assets | 0.52% |
| Return on equity (ROE) | 5.14% |
| Retained earnings to average equity (YTD only) | 5.14% |
| Net charge-offs to loans | 0.03% |
| Credit loss provision to net charge-offs | 700.00% |
| Efficiency ratio | 40.00% |
| Assets per employee | $86,784 |
| Cash dividends to net income (YTD only) | 4.34% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 1.32% |
| Noncurrent assets plus other real estate owned to assets | 0.00% |
| Noncurrent loans to loans | 0.28% |
| Net loans and leases to deposits | 0.00% |
| Net loans and leases to core deposits | 45.41% |
| Equity capital to assets | 50.50% |
| Core capital (leverage) ratio | 9.30% |
| Tier 1 risk-based capital ratio | 8.99% |
| Total risk-based capital ratio | 17.60% |
| Memoranda | |
| Average assets | $19 |
| Average earning assets | $25,396 |
| Average equity | $2,317 |
| Average loans | $23,096 |
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