Community Spirit Bank in Red Bay, Alabama (AL), MS
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Community Spirit Bank in Red Bay, Alabama (AL), MS
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Community Spirit Bank - Overview

  • General
  • FDIC Certificate #: 50
    Status: Active
    Federal Reserve ID: 470032
    Bank Holding Company (Regulatory Top Holder): Independent Bancshares, Inc. Employee Stock Ownership Plan (RSSDID: 3587294, Location: Red Bay, AL)
    Date Established: March 17, 1908
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 5 (Domestic: 4, Interstate: No)
    OTS Docket #: 13450
    FDIC's unique #: 31
    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: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: January 01, 2012
    Last Structure Change Process Date: January 11, 2012
    Last Data Update: January 11, 2012
    Data Source Date: April 05, 2012
  • Location
  • Address: 200 4th Avenue Sw, Red Bay, AL 35582
    County: Franklin
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Shelby
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
  • History of Changes
  • Participated in Absorption/Consolidation/Merger
  • Financial Summary
  • Total assets: $112.6 mil
    Equity capital: $9.3 mil
    Deposits held in domestic offices: $99.5 mil
    Return on assets (ROA): 0.85% ($1.0 mil)
    Quarterly return on assets: 0.66% ($0.7 mil)
    Return on Equity (ROE): 10.62% ($1.0 mil)
    Quarterly return on equity: 7.96% ($0.7 mil)
    Net income: $0.9 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 1.17% ($1,317.9 mil)
    Quarterly Pretax return on assets: 1.20% ($1,351.7 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
  • 33Total employees (full-time equivalent)
  • $112,638Total assets
  • $9,827Cash and due from depository institutions
  • $6,374Interest-bearing balances
  • $19,773Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $74,069Net loans & leases
  • $884Loan loss allowance
  • $0Trading account assets
  • $2,774Bank premises and fixed assets
  • $66Other real estate owned
  • $0Goodwill and other intangibles
  • $112,638Life insurance assets
  • $6,129All other assets
  • $103,372Total liabilities and capital
  • $99,540Total liabilities
  • $88,173Total deposits
  • $99,540Interest-bearing deposits
  • $87Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $2,217Trading liabilities
  • $0Other borrowed funds
  • $1,615Subordinated debt
  • $9,266All other liabilities
  • $9,266Total equity capital
  • $9,266Total bank equity capital
  • $0Perpetual preferred stock
  • $49Common stock
  • $2,289Surplus
  • $6,928Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $0Earning assets
  • $434Long-term assets (5+ years)
  • $100,216Average Assets, year-to-date
  • $26,424Average Assets, quarterly
  • $110,938Volatile liabilities
  • $111,752Insider loans
  • $78,534FHLB advances
  • $110,728Loans and leases held for sale
  • $4,299Unused loan commitments
  • $4,299Tier 1 (core) risk-based capital
  • $8,913Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $6,949Restructured Loans and leases
  • $2,217Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,762Total interest income
  • $1,464Total interest expense
  • $4,298Net interest income
  • $8Provision for loan and lease losses
  • $810Total noninterest income
  • $0Fiduciary activities
  • $428Service charges on deposit accounts
  • $0Trading account gains & fees
  • $382Additional noninterest income
  • $3,873Total noninterest expense
  • $2,163Salaries and employee benefits
  • $595Premises and equipment expense
  • $1,115Additional noninterest expense
  • $1,227Pre-tax net operating income
  • $66Securities gains (losses)
  • $348Applicable income taxes
  • $945Income before extraordinary items
  • $0Extraordinary gains - net
  • $945Net income attributable to bank
  • $0Net charge-offs
  • $945Cash dividends
  • $1Sale, conversion, retirement of capital stock, net
  • $460Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.80%Yield on earning assets
  • 1.47%Cost of funding earning assets
  • 4.32%Net interest margin
  • 0.81%Noninterest income to earning assets
  • 3.90%Noninterest expense to earning assets
  • 0.81%Net operating income to assets
  • 0.85%Return on assets (ROA)
  • 1.17%Pretax return on assets
  • 10.62%Return on equity (ROE)
  • 5.45%Retained earnings to average equity (YTD only)
  • 0.00%Net charge-offs to loans
  • 800.00%Credit loss provision to net charge-offs
  • 1235.00%Efficiency ratio
  • 75,822Assets per employee
  • 3.41%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 48.68%Loss allowance to loans
  • 1.18%Loss allowance to noncurrent loans
  • 0.00%Noncurrent assets plus other real estate owned to assets
  • 0.12%Noncurrent loans to loans
  • 0.00%Net loans and leases to deposits
  • 74.41%Net loans and leases to core deposits
  • 77.09%Equity capital to assets
  • 8.23%Core capital (leverage) ratio
  • 8.05%Tier 1 risk-based capital ratio
  • 11.35%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $110,938Average earning assets
  • $8,898Average equity
  • $99,387Average loans

List of branches

  • 4 Alabama Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    031Community Spirit Bank200 4th Avenue Sw, Red Bay, AL 35582March 17, 1908Full Service Brick and Mortar
    1180916Vina Branch7141 Highway 19, Vina, AL 35593July 07, 1975Full Service Brick and Mortar
    4180919Russellville Branch14009 Highway 43, Russellville, AL 35653May 01, 1998Full Service Brick and Mortar
    5472658Red Bay Branch1007 4th Street Nw, Red Bay, AL 35582Febuary 19, 2008Full Service Brick and Mortar
  • 1 Mississippi Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    661980Spirit Bank Branch342 Second Street, Belmont, MS 38827January 25, 1999Full Service Brick and Mortar

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