Citizens National Bank of Paintsville in Paintsville, Kentucky (KY)

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Citizens National Bank of Paintsville
GeneralFDIC Certificate #: 2718
Status: Active
Federal Reserve ID: 495419
Bank Holding Company (Regulatory Top Holder): Citizens National Corporation (RSSDID: 1071623, Location: Paintsville, KY)
Date Established: January 01, 1910
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 15 (Domestic: 15, Interstate: No)
OTS Docket #: 11286
FDIC's unique #: 1760
Numeric code: 3
Regulator: OCC
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: No
Subchapter S Corporations: No
Asset Concentration Hierarchy: All Other Specialization < 1 Billion
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: July 27, 2007
Last Structure Change Process Date: September 25, 2007
Last Data Update: September 25, 2007
Data Source Date: April 05, 2012
LocationAddress: 620 Broadway Avenue, Paintsville, KY 41240
County: Johnson
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
History of ChangesParticipated in Absorption/Consolidation/Merger
Participated in Reorganization
Name Change
Financial SummaryTotal assets: $554.7 mil
Equity capital: $71.2 mil
Deposits held in domestic offices: $433.9 mil
Return on assets (ROA): 0.73% ($4.1 mil)
Quarterly return on assets: 0.74% ($4.1 mil)
Return on Equity (ROE): 6.04% ($4.3 mil)
Quarterly return on equity: 5.80% ($4.1 mil)
Net income: $4.2 mil
Quarterly Net income: $1.0 mil
Pretax return on assets: 0.88% ($4,881.4 mil)
Quarterly Pretax return on assets: 0.86% ($4,770.4 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)188
Total assets$554,701
Cash and due from depository institutions$30,307
Interest-bearing balances$18,352
Federal funds sold & reverse repurchase agreements$12,000
Net loans & leases$316,698
Loan loss allowance $4,527
Trading account assets$0
Bank premises and fixed assets$12,447
Other real estate owned$3,418
Goodwill and other intangibles$16,396
All other assets$26,294
Life insurance assets$554,701
Total liabilities and capital$483,543
Total liabilities$433,881
Total deposits$325,791
Interest-bearing deposits$433,881
Deposits held in domestic offices$90
% insured (estimated)10131.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$33,500
Other borrowed funds $0
Subordinated debt $6,031
All other liabilities $71,158
Total equity capital$71,158
Total bank equity capital$71,158
Perpetual preferred stock$0
Common stock$1,500
Undivided profits $22,559
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 $4,064
Earning assets $0
Long-term assets (5+ years) $1,872
Average Assets, year-to-date $484,191
Average Assets, quarterly $220,737
Volatile liabilities $572,145
Insider loans $559,047
FHLB advances $335,336
Loans and leases held for sale $538,015
Unused loan commitments $8,661
Tier 1 (core) risk-based capital $8,661
Tier 2 risk-based capital $50,918
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $30,311
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $24,564
Total interest expense $5,953
Net interest income $18,611
Provision for loan and lease losses $1,386
Total noninterest income $6,289
Fiduciary activities $98
Service charges on deposit accounts $3,616
Trading account gains & fees $0
Additional noninterest income $2,575
Total noninterest expense $18,749
Salaries and employee benefits $8,862
Premises and equipment expense $2,336
Additional noninterest expense $7,551
Pre-tax net operating income $4,765
Securities gains (losses) $266
Applicable income taxes $848
Income before extraordinary items $4,183
Extraordinary gains - net $0
Net income attributable to bank $4,183
Net charge-offs $0
Cash dividends $4,183
Sale, conversion, retirement of capital stock, net $1,599
Net operating income $1,470
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.92%
Cost of funding earning assets 1.19%
Net interest margin 3.73%
Noninterest income to earning assets 1.26%
Noninterest expense to earning assets 3.76%
Net operating income to assets 0.69%
Return on assets (ROA) 0.73%
Pretax return on assets 0.88%
Return on equity (ROE) 6.04%
Retained earnings to average equity (YTD only) 3.92%
Net charge-offs to loans 0.46%
Credit loss provision to net charge-offs 86.68%
Efficiency ratio3.85%
Assets per employee$74,048
Cash dividends to net income (YTD only)2.95%
Condition Ratios (%)
Loss allowance to loans 35.14%
Loss allowance to noncurrent loans 1.41%
Noncurrent assets plus other real estate owned to assets 111.39%
Noncurrent loans to loans 1.35%
Net loans and leases to deposits1.27%
Net loans and leases to core deposits 72.99%
Equity capital to assets 77.30%
Core capital (leverage) ratio 12.83%
Tier 1 risk-based capital ratio 9.46%
Total risk-based capital ratio 15.18%
Average assets$16
Average earning assets$572,145
Average equity $69,233
Average loans $499,027
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$17,002
Number of Accounts1
Personal trust and agency accounts$6,558
Employee benefit-defined contribution accounts$4,032
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$99
Investment management agency accounts$1,411
Other fiduciary accounts$728
Fiduciary accounts held in foreign offices$0
Non-managed Assets$288
Number of Accounts102
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$99
Employee benefit-defined benefit accounts$0
Other retirement accounts$10,444
Corporate trust and agency accounts$4,079
Other fiduciary accounts$600
Fiduciary accounts held in foreign offices$174
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13 Kentucky Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
01760Citizens National Bank Of Paintsvill620 Broadway Avenue, Paintsville, KY 41240January 01, 1910Full Service Brick and Mortar
2193961Mayo Shopping Plaza BranchRoute 23-460 By-Pass, Paintsville, KY 41240November 15, 1978Full Service Brick and Mortar
6241899Allen BranchU.S. 23 And Kentucky 80, Allen, KY 41601November 18, 1960Full Service Brick and Mortar
7241900City Branch2 North Lake Drive, Prestonsburg, KY 41653September 14, 1970Full Service Brick and Mortar
9241902Garrett BranchU.S. 80, Garrett, KY 41630September 17, 1976Full Service Brick and Mortar
10241903Mcdowell BranchHighways 122, Mc Dowell, KY 41647October 01, 1980Full Service Brick and Mortar
11193964Salyersville BranchRoute 114 East Mountain Parkway, Salyersville, KY 41465May 26, 1999Full Service Brick and Mortar
12357583Centerpointe Branch50 Franklin Corner, Prestonsburg, KY 41653September 07, 1999Full Service Brick and Mortar
13420297Weddington Plaza Branch4367 North Mayo Trail, Pikeville, KY 41501December 02, 2002Full Service Brick and Mortar
1459069Ashland Branch735 Central Avenue, Ashland, KY 41101April 06, 1998Full Service Brick and Mortar
15362305Grayson Branch167 South Carol Malone Blvd., Grayson, KY 41143August 20, 2001Full Service Brick and Mortar
16428154Russell Road Branch320 Russell Road, Russell, KY 41169August 04, 2003Full Service Brick and Mortar
1756256Pikeville Branch247 Hambley Blvd., Pikeville, KY 41501January 02, 1996Full Service Brick and Mortar
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