Citizens State Bank in Corrigan, Texas (TX)



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Citizens State Bank
GeneralFDIC Certificate #: 11905
Status: Active
Federal Reserve ID: 899651
Bank Holding Company (Regulatory Top Holder): Citizens State Financial Corporation (RSSDID: 1105818, Location: Corrigan, TX)
Date Established: January 01, 1919
WWW: http://www.corriganbank.com
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Domestic: 2, Interstate: No)
FDIC's unique #: 7603
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: All Other Specialization < 1 Billion
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: October 27, 2011
Last Structure Change Process Date: October 27, 2011
Last Data Update: October 27, 2011
Data Source Date: April 05, 2012
LocationAddress: 300 North Home Street, Corrigan, TX 75939
County: Polk
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Houston
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: West
History of ChangesName Change
Financial SummaryTotal assets: $105.7 mil
Equity capital: $11.3 mil
Deposits held in domestic offices: $93.6 mil
Return on assets (ROA): 2.15% ($2.3 mil)
Quarterly return on assets: 2.12% ($2.2 mil)
Return on Equity (ROE): 19.96% ($2.2 mil)
Quarterly return on equity: 19.72% ($2.2 mil)
Net income: $2.2 mil
Quarterly Net income: $0.6 mil
Pretax return on assets: 2.15% ($2,272.6 mil)
Quarterly Pretax return on assets: 2.12% ($2,240.9 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)29
Total assets$105,704
Cash and due from depository institutions$9,577
Interest-bearing balances$2,015
Securities$32,125
Federal funds sold & reverse repurchase agreements$5,270
Net loans & leases$57,533
Loan loss allowance $687
Trading account assets$0
Bank premises and fixed assets$294
Other real estate owned$33
Goodwill and other intangibles$0
All other assets$872
Life insurance assets$105,704
Total liabilities and capital$94,426
Total liabilities$93,646
Total deposits$74,266
Interest-bearing deposits$93,646
Deposits held in domestic offices$91
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $780
All other liabilities $11,278
Total equity capital$11,278
Total bank equity capital$11,278
Perpetual preferred stock$0
Common stock$1,000
Surplus$2,000
Undivided profits $8,278
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 $1,339
Earning assets $0
Long-term assets (5+ years) $471
Average Assets, year-to-date $96,943
Average Assets, quarterly $26,719
Volatile liabilities $102,843
Insider loans $105,208
FHLB advances $61,695
Loans and leases held for sale $105,401
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $10,506
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $1,873
Derivatives$968
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $5,634
Total interest expense $950
Net interest income $4,684
Provision for loan and lease losses $180
Total noninterest income $768
Fiduciary activities $0
Service charges on deposit accounts $607
Trading account gains & fees $0
Additional noninterest income $161
Total noninterest expense $3,071
Salaries and employee benefits $1,465
Premises and equipment expense $458
Additional noninterest expense $1,148
Pre-tax net operating income $2,201
Securities gains (losses) $6
Applicable income taxes $0
Income before extraordinary items $2,207
Extraordinary gains - net $0
Net income attributable to bank $2,207
Net charge-offs $0
Cash dividends $2,207
Sale, conversion, retirement of capital stock, net $140
Net operating income $1,766
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.90%
Cost of funding earning assets 1.00%
Net interest margin 4.91%
Noninterest income to earning assets 0.80%
Noninterest expense to earning assets 3.22%
Net operating income to assets 2.14%
Return on assets (ROA) 2.15%
Pretax return on assets 2.15%
Return on equity (ROE) 19.96%
Retained earnings to average equity (YTD only) 3.99%
Net charge-offs to loans 0.24%
Credit loss provision to net charge-offs 128.57%
Efficiency ratio17.01%
Assets per employee$56,328
Cash dividends to net income (YTD only)3.64%
Condition Ratios (%)
Loss allowance to loans 80.02%
Loss allowance to noncurrent loans 1.18%
Noncurrent assets plus other real estate owned to assets 51.31%
Noncurrent loans to loans 1.30%
Net loans and leases to deposits2.30%
Net loans and leases to core deposits 61.44%
Equity capital to assets 68.26%
Core capital (leverage) ratio 10.67%
Tier 1 risk-based capital ratio 9.97%
Total risk-based capital ratio 17.03%
Memoranda
Average assets$18
Average earning assets$102,843
Average equity $11,055
Average loans $95,420
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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$3,798
Number of Accounts1
Personal trust and agency accounts$3,798
Employee benefit-defined contribution accounts$3,798
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts7
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
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2 Texas Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
07603Citizens State Bank300 North Home Street, Corrigan, TX 75939January 01, 1919Full Service Brick and Mortar
18904Groveton BranchFirst Street And Devine Avenue, Groveton, TX 75845January 01, 1902Full Service Brick and Mortar
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