Bank of Milan in Milan, Georgia (GA)



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Bank of Milan
GeneralFDIC Certificate #: 157
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: FLAG Bank (#186)
Federal Reserve ID: 612234
Date Established: December 01, 1906
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Interstate: No)
FDIC's unique #: 123
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: January 01, 1999
Last Structure Change Process Date: April 30, 1999
Last Data Update: April 30, 1999
Data Source Date: April 05, 2012
LocationAddress: Mount Zion Street, Milan, GA 31060
County: Telfair
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Albany Ga
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Financial SummaryTotal assets: $41.4 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 1998)
(Dollar figures in thousands)
Total employees (full-time equivalent)16
Total assets$41,439
Cash and due from depository institutions$1,181
Interest-bearing balances$0
Securities$4,353
Federal funds sold & reverse repurchase agreements$3,240
Net loans & leases$31,258
Loan loss allowance $512
Trading account assets$0
Bank premises and fixed assets$514
Other real estate owned$194
Goodwill and other intangibles$0
All other assets$699
Life insurance assets$0
Total liabilities and capital$41,439
Total liabilities$37,408
Total deposits$37,006
Interest-bearing deposits$30,890
Deposits held in domestic offices$37,006
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $402
Total equity capital$4,031
Total bank equity capital$4,031
Perpetual preferred stock$4,031
Common stock$0
Surplus$200
Undivided profits $2,400
Memoranda
Noncurrent loans and leases $1,431
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $0
Earning assets $92
Long-term assets (5+ years) $0
Average Assets, year-to-date $635
Average Assets, quarterly $38,851
Volatile liabilities $1,323
Insider loans $37,023
FHLB advances $39,268
Loans and leases held for sale $8,527
Unused loan commitments $171
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $787
Restructured Loans and leases $0
Derivatives$32,315
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Income and Expense (December 31, 1998)
(Dollar figures in thousands)
Total interest income $3,771
Total interest expense $1,485
Net interest income $2,286
Provision for loan and lease losses $244
Total noninterest income $675
Fiduciary activities $0
Service charges on deposit accounts $230
Trading account gains & fees $0
Additional noninterest income $445
Total noninterest expense $1,314
Salaries and employee benefits $741
Premises and equipment expense $166
Additional noninterest expense $407
Pre-tax net operating income $1,403
Securities gains (losses) $0
Applicable income taxes $479
Income before extraordinary items $924
Extraordinary gains - net $0
Net income attributable to bank $924
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $11
Net operating income $330
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Performance and Condition Ratios (December 31, 1998)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets10.88%
Cost of funding earning assets 4.28%
Net interest margin 6.59%
Noninterest income to earning assets 1.95%
Noninterest expense to earning assets 3.79%
Net operating income to assets 2.50%
Return on assets (ROA) 2.50%
Pretax return on assets 3.79%
Return on equity (ROE) 24.67%
Retained earnings to average equity (YTD only) 15.86%
Net charge-offs to loans 0.04%
Credit loss provision to net charge-offs 2218.18%
Efficiency ratio149.73%
Assets per employee$44,377
Cash dividends to net income (YTD only)2.59%
Condition Ratios (%)
Loss allowance to loans 35.71%
Loss allowance to noncurrent loans 1.61%
Noncurrent assets plus other real estate owned to assets 556.52%
Noncurrent loans to loans 0.69%
Net loans and leases to deposits0.29%
Net loans and leases to core deposits 84.47%
Equity capital to assets 109.76%
Core capital (leverage) ratio 9.73%
Tier 1 risk-based capital ratio 10.17%
Total risk-based capital ratio 12.35%
Memoranda
Average assets$14
Average earning assets$37,023
Average equity $3,745
Average loans $34,676
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