Covenant Bank in Leeds, Alabama (AL)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Covenant Bank in Leeds, Alabama (AL)
  • Show street view No street view available for this location

Covenant Bank - Overview

  • General
  • FDIC Certificate #: 34460
    Status: Active
    Federal Reserve ID: 2621285
    Bank Holding Company (Regulatory Top Holder): Covenant Bancgroup, Inc. (RSSDID: 2621294, Location: Leeds, AL)
    Date Established: December 30, 1997
    WWW: http://www.covenantbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 57224
    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: December 30, 1997
    Last Structure Change Effective Date: Febuary 24, 2011
    Last Structure Change Process Date: Febuary 24, 2011
    Last Data Update: Febuary 24, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 7924 Parkway Drive, Leeds, AL 35094
    County: Jefferson
    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
    Metropolitan Statistical Area (MSA): Birmingham, AL (#1000)
    Combined Statistical Area (CSA): Birmingham-Hoover-Cullman, AL (#142)
    Core Based Statistical Area (CBSA): Birmingham-Hoover, AL (#13820)
    CBSA Metro Statistical Area: Birmingham-Hoover, AL (#13820)
  • History of Changes
  • Change in Geographic Region/Area/Territory/Field Office
  • Financial Summary
  • Total assets: $98.9 mil
    Equity capital: $8.4 mil
    Deposits held in domestic offices: $81.7 mil
    Return on assets (ROA): -0.83% (-$0.8 mil)
    Quarterly return on assets: -2.59% (-$2.6 mil)
    Return on Equity (ROE): -9.82% (-$0.8 mil)
    Quarterly return on equity: -29.46% (-$2.4 mil)
    Net income: -$0.9 mil
    Quarterly Net income: -$0.6 mil
    Pretax return on assets: -0.83% (-$820.9 mil)
    Quarterly Pretax return on assets: -2.59% (-$2,561.5 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
  • 34Total employees (full-time equivalent)
  • $98,899Total assets
  • $1,875Cash and due from depository institutions
  • $28Interest-bearing balances
  • $12,520Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $76,526Net loans & leases
  • $1,518Loan loss allowance
  • $0Trading account assets
  • $3,329Bank premises and fixed assets
  • $1,737Other real estate owned
  • $0Goodwill and other intangibles
  • $98,900Life insurance assets
  • $2,912All other assets
  • $90,461Total liabilities and capital
  • $81,709Total liabilities
  • $72,903Total deposits
  • $81,709Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 1525.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $7,000Trading liabilities
  • $0Other borrowed funds
  • $227Subordinated debt
  • $8,439All other liabilities
  • $8,439Total equity capital
  • $8,439Total bank equity capital
  • $0Perpetual preferred stock
  • $10Common stock
  • $6,529Surplus
  • $1,900Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $936Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,567Income earned, not collected on loans
  • $0Earning assets
  • $578Long-term assets (5+ years)
  • $89,074Average Assets, year-to-date
  • $18,496Average Assets, quarterly
  • $105,679Volatile liabilities
  • $100,157Insider loans
  • $76,663FHLB advances
  • $100,250Loans and leases held for sale
  • $705Unused loan commitments
  • $705Tier 1 (core) risk-based capital
  • $8,318Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $4,423Restructured Loans and leases
  • $1,138Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,454Total interest income
  • $1,690Total interest expense
  • $3,764Net interest income
  • $1,212Provision for loan and lease losses
  • $1,034Total noninterest income
  • $0Fiduciary activities
  • $254Service charges on deposit accounts
  • $0Trading account gains & fees
  • $780Additional noninterest income
  • $4,581Total noninterest expense
  • $2,118Salaries and employee benefits
  • $420Premises and equipment expense
  • $2,043Additional noninterest expense
  • -$995Pre-tax net operating income
  • $121Securities gains (losses)
  • $0Applicable income taxes
  • -$874Income before extraordinary items
  • $0Extraordinary gains - net
  • -$874Net income attributable to bank
  • $0Net charge-offs
  • -$874Cash dividends
  • $835Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.71%Yield on earning assets
  • 1.77%Cost of funding earning assets
  • 3.94%Net interest margin
  • 1.08%Noninterest income to earning assets
  • 4.79%Noninterest expense to earning assets
  • -0.94%Net operating income to assets
  • -0.83%Return on assets (ROA)
  • -0.83%Pretax return on assets
  • -9.82%Return on equity (ROE)
  • -9.82%Retained earnings to average equity (YTD only)
  • 1.03%Net charge-offs to loans
  • 145.15%Credit loss provision to net charge-offs
  • 0.26%Efficiency ratio
  • 95,477Assets per employee
  • 2.91%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.95%Loss allowance to noncurrent loans
  • 59.14%Noncurrent assets plus other real estate owned to assets
  • 4.35%Noncurrent loans to loans
  • 3.29%Net loans and leases to deposits
  • 93.66%Net loans and leases to core deposits
  • 104.04%Equity capital to assets
  • 8.53%Core capital (leverage) ratio
  • 8.30%Tier 1 risk-based capital ratio
  • 10.85%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $105,679Average earning assets
  • $8,897Average equity
  • $95,570Average loans

List of branches

  • 2 Alabama Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    057224Covenant Bank7924 Parkway Drive, Leeds, AL 35094December 30, 1997Full Service Brick and Mortar
    1290656Moody Branch2460 Moody Parkway, Moody, AL 35004March 01, 1999Full Service Brick and Mortar

Comment about this bank, ask questions, or add new information about it:

CAPTCHA

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Covenant Bank.
Based on public records. Inadvertent errors are possible.
bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents