Citizens Bank in Mount Vernon, Kentucky (KY)

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Citizens Bank
GeneralFDIC Certificate #: 262
Status: Active
Federal Reserve ID: 840019
Bank Holding Company (Regulatory Top Holder): Rockcastle Bancorp, Inc. (RSSDID: 2262268, Location: Brodhead, KY)
Date Established: January 01, 1904
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Domestic: 4, Interstate: No)
OTS Docket #: 14495
FDIC's unique #: 209
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 01, 1934
Last Structure Change Effective Date: May 01, 2009
Last Structure Change Process Date: May 26, 2009
Last Data Update: May 26, 2009
Data Source Date: April 05, 2012
LocationAddress: 411 New Brodhead Road, Mount Vernon, KY 40456
County: Rockcastle
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Lexington
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Southeast
Combined Statistical Area (CSA): Lexington-Fayette-Frankfort-Richmond, KY (#336)
Core Based Statistical Area (CBSA): Richmond-Berea, KY (#40080)
CBSA Micro Statistical Area: Yes
History of ChangesCorrections
Change in Location
Financial SummaryTotal assets: $132.8 mil
Equity capital: $14.1 mil
Deposits held in domestic offices: $104.8 mil
Return on assets (ROA): 0.49% ($0.7 mil)
Quarterly return on assets: 1.29% ($1.7 mil)
Return on Equity (ROE): 4.68% ($0.7 mil)
Quarterly return on equity: 12.18% ($1.7 mil)
Net income: $0.6 mil
Quarterly Net income: $0.4 mil
Pretax return on assets: 0.49% ($650.5 mil)
Quarterly Pretax return on assets: 1.29% ($1,712.6 mil)

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

2000 - 2011 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)40
Total assets$132,761
Cash and due from depository institutions$4,112
Interest-bearing balances$229
Federal funds sold & reverse repurchase agreements$47
Net loans & leases$100,564
Loan loss allowance $1,465
Trading account assets$0
Bank premises and fixed assets$3,086
Other real estate owned$709
Goodwill and other intangibles$0
All other assets$5,670
Life insurance assets$132,761
Total liabilities and capital$118,628
Total liabilities$104,798
Total deposits$95,318
Interest-bearing deposits$104,798
Deposits held in domestic offices$97
% insured (estimated)1411.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$12,009
Other borrowed funds $0
Subordinated debt $410
All other liabilities $14,133
Total equity capital$14,133
Total bank equity capital$14,133
Perpetual preferred stock$0
Common stock$150
Undivided profits $9,133
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $1,426
Income earned, not collected on loans $2,734
Earning assets $0
Long-term assets (5+ years) $657
Average Assets, year-to-date $119,413
Average Assets, quarterly $28,701
Volatile liabilities $131,388
Insider loans $132,822
FHLB advances $90,792
Loans and leases held for sale $131,601
Unused loan commitments $3,762
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $13,768
Total risk weighted assets $3,762
Total unused commitments $0
Restructured Loans and leases $5,700
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $7,369
Total interest expense $1,766
Net interest income $5,603
Provision for loan and lease losses $1,180
Total noninterest income $781
Fiduciary activities $0
Service charges on deposit accounts $440
Trading account gains & fees $0
Additional noninterest income $341
Total noninterest expense $4,566
Salaries and employee benefits $2,143
Premises and equipment expense $540
Additional noninterest expense $1,883
Pre-tax net operating income $638
Securities gains (losses) $0
Applicable income taxes $0
Income before extraordinary items $638
Extraordinary gains - net $0
Net income attributable to bank $638
Net charge-offs $0
Cash dividends $638
Sale, conversion, retirement of capital stock, net $1,758
Net operating income $546
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.19%
Cost of funding earning assets 1.48%
Net interest margin 4.71%
Noninterest income to earning assets 0.66%
Noninterest expense to earning assets 3.84%
Net operating income to assets 0.49%
Return on assets (ROA) 0.49%
Pretax return on assets 0.49%
Return on equity (ROE) 4.68%
Retained earnings to average equity (YTD only) 0.68%
Net charge-offs to loans 1.70%
Credit loss provision to net charge-offs 67.12%
Efficiency ratio1.03%
Assets per employee$71,523
Cash dividends to net income (YTD only)3.32%
Condition Ratios (%)
Loss allowance to loans 85.58%
Loss allowance to noncurrent loans 1.44%
Noncurrent assets plus other real estate owned to assets 53.58%
Noncurrent loans to loans 2.59%
Net loans and leases to deposits2.68%
Net loans and leases to core deposits 95.96%
Equity capital to assets 100.97%
Core capital (leverage) ratio 10.65%
Tier 1 risk-based capital ratio 10.46%
Total risk-based capital ratio 15.16%
Average assets$16
Average earning assets$131,388
Average equity $13,628
Average loans $119,006
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4 Kentucky Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0209Citizens Bank411 New Brodhead Road, Mount Vernon, KY 40456January 01, 1904Full Service Brick and Mortar
1181420Mckee Branch166 Highway 421, Mc Kee, KY 40447July 18, 1988Full Service Brick and Mortar
2181421Brodhead BranchMain Street, Brodhead, KY 40409December 10, 1996Full Service Brick and Mortar
4492715Somerset Branch112 South Main, Somerset, KY 42501July 13, 2009Full Service Brick and Mortar
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