Commercial Bank in Harrogate, Tennessee (TN), KY

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Commercial Bank
GeneralFDIC Certificate #: 22354
Status: Active
Federal Reserve ID: 497039
Bank Holding Company (Regulatory Top Holder): Unified Shares, Llc (RSSDID: 3793219, Location: Harrogate, TN)
Date Established: November 01, 1976
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 20 (Domestic: 20, Interstate: Yes)
OTS Docket #: 11527
FDIC's unique #: 15561
Numeric code: 13
Regulator: FED
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: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: November 01, 1976
Last Structure Change Effective Date: September 06, 2008
Last Structure Change Process Date: September 25, 2008
Last Data Update: September 25, 2008
Data Source Date: April 05, 2012
LocationAddress: 6710 Cumberland Gap Parkway, Harrogate, TN 37752
County: Claiborne
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Knoxville
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
History of ChangesParticipated in Absorption/Consolidation/Merger
Financial SummaryTotal assets: $807.9 mil
Equity capital: $88.5 mil
Deposits held in domestic offices: $626.4 mil
Return on assets (ROA): 0.12% ($1.0 mil)
Quarterly return on assets: 0.00% ($0.0 mil)
Return on Equity (ROE): 1.10% ($1.0 mil)
Quarterly return on equity: -0.01% (-$0.0 mil)
Net income: $1.0 mil
Quarterly Net income: -$0.0 mil
Pretax return on assets: 0.07% ($565.6 mil)
Quarterly Pretax return on assets: -0.11% (-$888.7 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)213
Total assets$807,948
Cash and due from depository institutions$31,577
Interest-bearing balances$23,306
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$549,902
Loan loss allowance $10,244
Trading account assets$2,979
Bank premises and fixed assets$25,803
Other real estate owned$21,928
Goodwill and other intangibles$17,080
All other assets$23,540
Life insurance assets$807,948
Total liabilities and capital$719,487
Total liabilities$626,436
Total deposits$547,954
Interest-bearing deposits$626,436
Deposits held in domestic offices$87
% insured (estimated)17903.00%
Federal funds purchased & repurchase agreements $2,979
Trading liabilities$67,666
Other borrowed funds $0
Subordinated debt $4,503
All other liabilities $88,461
Total equity capital$88,461
Total bank equity capital$88,461
Perpetual preferred stock$0
Common stock$760
Undivided profits $32,583
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $738
Income earned, not collected on loans $37,336
Earning assets $1,568
Long-term assets (5+ years) $1,819
Average Assets, year-to-date $708,347
Average Assets, quarterly $172,804
Volatile liabilities $829,979
Insider loans $824,321
FHLB advances $546,119
Loans and leases held for sale $803,508
Unused loan commitments $13,666
Tier 1 (core) risk-based capital $9,761
Tier 2 risk-based capital $68,340
Total risk weighted assets $0
Total unused commitments $3,905
Restructured Loans and leases $48,177
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $35,227
Total interest expense $9,299
Net interest income $25,928
Provision for loan and lease losses $7,282
Total noninterest income $4,472
Fiduciary activities $0
Service charges on deposit accounts $2,050
Trading account gains & fees $0
Additional noninterest income $2,422
Total noninterest expense $22,647
Salaries and employee benefits $10,047
Premises and equipment expense $3,246
Additional noninterest expense $9,354
Pre-tax net operating income $471
Securities gains (losses) $123
Applicable income taxes -$369
Income before extraordinary items $963
Extraordinary gains - net $0
Net income attributable to bank $963
Net charge-offs $0
Cash dividends $963
Sale, conversion, retirement of capital stock, net $8,038
Net operating income $1,090
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.85%
Cost of funding earning assets 1.28%
Net interest margin 3.57%
Noninterest income to earning assets 0.62%
Noninterest expense to earning assets 3.12%
Net operating income to assets 0.10%
Return on assets (ROA) 0.12%
Pretax return on assets 0.07%
Return on equity (ROE) 1.10%
Retained earnings to average equity (YTD only) -0.15%
Net charge-offs to loans 1.39%
Credit loss provision to net charge-offs 90.59%
Efficiency ratio0.96%
Assets per employee$73,533
Cash dividends to net income (YTD only)3.79%
Condition Ratios (%)
Loss allowance to loans 113.19%
Loss allowance to noncurrent loans 1.83%
Noncurrent assets plus other real estate owned to assets 27.44%
Noncurrent loans to loans 7.34%
Net loans and leases to deposits6.67%
Net loans and leases to core deposits 87.78%
Equity capital to assets 107.75%
Core capital (leverage) ratio 10.95%
Tier 1 risk-based capital ratio 8.51%
Total risk-based capital ratio 12.51%
Average assets$14
Average earning assets$829,979
Average equity $87,312
Average loans $726,431
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10 Kentucky Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
841660Middlesboro Federal Bank, Fsb Branch1431 Cumberland Avenue, Middlesboro, KY 40965January 01, 1915Full Service Brick and Mortar
9270867Main Street Branch1701 East Main Street, Cumberland, KY 40823January 01, 1915Full Service Brick and Mortar
10270869Pineville Branch314 Pine Street, Pineville, KY 40977Febuary 21, 1997Limited Service Facility
13447392Harlan Branch2320 South U.S. Highway 421, Harlan, KY 40831November 29, 2005Full Service Brick and Mortar
14479183Pineville Branch #2 Branch535 W. Tennessee Ave., Pineville, KY 40977December 01, 2006Full Service Brick and Mortar
157648Barbourville-North Main Street Branc202 North Main Street, Barbourville, KY 40906January 01, 1934Full Service Brick and Mortar
16226145Auto Bank Branch312 Knox Street, Barbourville, KY 40906October 29, 1962Limited Service Facility
17226146Union Plaza Branch603 Knox Street, Barbourville, KY 40906September 20, 1976Full Service Brick and Mortar
18226147Cumberland Parkway Branch1149 South Us 25 E, Barbourville, KY 40906December 01, 1988Full Service Brick and Mortar
19226149Corbin Banking Center Branch14434 N Us 25 E, Corbin, KY 40701July 25, 1994Full Service Brick and Mortar
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10 Tennessee Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
015561Commercial Bank6710 Cumberland Gap Parkway, Harrogate, TN 37752November 01, 1976Full Service Brick and Mortar
1254432Speedwell Branch7675 Highway #63, Speedwell, TN 37870January 08, 1979Full Service Brick and Mortar
2254433Tazewell-New Tazewell Branch1001 North Broad Street, New Tazewell, TN 37825November 08, 1982Full Service Brick and Mortar
4239578Luttrell Branch111 Tazewell Pike, Luttrell, TN 37779November 22, 1972Full Service Brick and Mortar
5239579Highway 33 Branch2600 Maynardville Highway, Maynardville, TN 37807Febuary 25, 1974Full Service Brick and Mortar
6254434Halls Branch7400 Maynardville Highway, Knoxville, TN 37938May 01, 1995Full Service Brick and Mortar
7254435Powell Branch420 East Emory Road, Powell, TN 37849May 01, 1998Full Service Brick and Mortar
113564885320 North Broadway Street Branch5320 North Broadway Street, Knoxville, TN 37902October 28, 1998Full Service Brick and Mortar
12365132West Knoxville Branch10413 Kingston Pike, Knoxville, TN 37922April 27, 2002Full Service Brick and Mortar
20495490Kingsport East Stone Drive Branch1072 East Stone Drive, Kingsport, TN 37660August 03, 2009Full Service Brick and Mortar
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