Commerce National Bank in Corinth, Mississippi (MS)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Commerce National Bank in Corinth, Mississippi (MS)
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Commerce National Bank - Overview

  • General
  • FDIC Certificate #: 34938
    Status: Active
    Federal Reserve ID: 2746245
    Bank Holding Company (Regulatory Top Holder): Commerce Holding Corporation (RSSDID: 3135435, Location: Corinth, MS)
    Date Established: January 19, 1999
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 1 (Domestic: 1, Interstate: No)
    FDIC's unique #: 62057
    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: Yes
    Asset Concentration Hierarchy: All Other Specialization < 1 Billion
    Date of Deposit Insurance: January 19, 1999
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 306 South Cass Street, Corinth, MS 38834
    County: Alcorn
    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
    Core Based Statistical Area (CBSA): Corinth, MS (#18420)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $88.6 mil
    Equity capital: $11.3 mil
    Deposits held in domestic offices: $77.1 mil
    Return on assets (ROA): 2.41% ($2.1 mil)
    Quarterly return on assets: 2.32% ($2.1 mil)
    Return on Equity (ROE): 18.72% ($2.1 mil)
    Quarterly return on equity: 17.82% ($2.0 mil)
    Net income: $2.1 mil
    Quarterly Net income: $0.5 mil
    Pretax return on assets: 2.41% ($2,135.4 mil)
    Quarterly Pretax return on assets: 2.32% ($2,055.7 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
  • 24Total employees (full-time equivalent)
  • $88,607Total assets
  • $7,778Cash and due from depository institutions
  • $5,714Interest-bearing balances
  • $21,231Securities
  • $3,266Federal funds sold & reverse repurchase agreements
  • $54,112Net loans & leases
  • $1,438Loan loss allowance
  • $0Trading account assets
  • $792Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $88,606Life insurance assets
  • $1,428All other assets
  • $77,319Total liabilities and capital
  • $77,100Total liabilities
  • $59,542Total deposits
  • $77,100Interest-bearing deposits
  • $99Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $219Subordinated debt
  • $11,287All other liabilities
  • $11,287Total equity capital
  • $11,287Total bank equity capital
  • $0Perpetual preferred stock
  • $409Common stock
  • $3,853Surplus
  • $7,025Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $117Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $414Income earned, not collected on loans
  • $0Earning assets
  • $544Long-term assets (5+ years)
  • $84,323Average Assets, year-to-date
  • $19,253Average Assets, quarterly
  • $86,442Volatile liabilities
  • $88,120Insider loans
  • $50,652FHLB advances
  • $88,623Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $10,297Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $1,348Restructured Loans and leases
  • $1,143Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,481Total interest income
  • $681Total interest expense
  • $3,800Net interest income
  • $300Provision for loan and lease losses
  • $901Total noninterest income
  • $0Fiduciary activities
  • $655Service charges on deposit accounts
  • $0Trading account gains & fees
  • $246Additional noninterest income
  • $2,314Total noninterest expense
  • $1,336Salaries and employee benefits
  • $152Premises and equipment expense
  • $826Additional noninterest expense
  • $2,087Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $2,087Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,087Net income attributable to bank
  • $0Net charge-offs
  • $2,087Cash dividends
  • $200Sale, conversion, retirement of capital stock, net
  • $1,610Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.45%Yield on earning assets
  • 0.83%Cost of funding earning assets
  • 4.62%Net interest margin
  • 1.10%Noninterest income to earning assets
  • 2.81%Noninterest expense to earning assets
  • 2.41%Net operating income to assets
  • 2.41%Return on assets (ROA)
  • 2.41%Pretax return on assets
  • 18.72%Return on equity (ROE)
  • 4.28%Retained earnings to average equity (YTD only)
  • 0.36%Net charge-offs to loans
  • 150.00%Credit loss provision to net charge-offs
  • 11.94%Efficiency ratio
  • 49,224Assets per employee
  • 3.69%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 77.14%Loss allowance to loans
  • 2.59%Loss allowance to noncurrent loans
  • 347.34%Noncurrent assets plus other real estate owned to assets
  • 0.47%Noncurrent loans to loans
  • 0.75%Net loans and leases to deposits
  • 70.18%Net loans and leases to core deposits
  • 71.14%Equity capital to assets
  • 12.74%Core capital (leverage) ratio
  • 11.62%Tier 1 risk-based capital ratio
  • 20.33%Total risk-based capital ratio
  • Memoranda
  • $22Average assets
  • $86,442Average earning assets
  • $11,151Average equity
  • $82,278Average loans

List of branches

  • 1 Mississippi Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    062057Commerce National Bank306 South Cass Street, Corinth, MS 38834January 19, 1999Full Service Brick and Mortar

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