Covington County Bank in Collins, Mississippi (MS)



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Covington County Bank routing number info

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Covington County Bank
GeneralFDIC Certificate #: 21998
Status: Active
Federal Reserve ID: 697035
Bank Holding Company (Regulatory Top Holder): Covington Capital Corporation (RSSDID: 2228590, Location: Collins, MS)
Date Established: May 01, 1975
WWW: http://www.covcobank.com
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Domestic: 1, Interstate: No)
FDIC's unique #: 15257
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Agricultural lending institution: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Agricultural Specialization
Date of Deposit Insurance: May 01, 1975
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
LocationAddress: 102 S Dogwood Ave, Collins, MS 39428
County: Covington
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
History of ChangesCorrections
Merge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $55.9 mil
Equity capital: $6.1 mil
Deposits held in domestic offices: $49.1 mil
Return on assets (ROA): 0.19% ($0.1 mil)
Quarterly return on assets: 0.51% ($0.3 mil)
Return on Equity (ROE): 1.70% ($0.1 mil)
Quarterly return on equity: 4.56% ($0.3 mil)
Net income: $0.1 mil
Quarterly Net income: $0.1 mil
Pretax return on assets: 0.24% ($134.2 mil)
Quarterly Pretax return on assets: 0.63% ($352.3 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)16
Total assets$55,922
Cash and due from depository institutions$1,922
Interest-bearing balances$0
Securities$19,036
Federal funds sold & reverse repurchase agreements$3,225
Net loans & leases$29,667
Loan loss allowance $212
Trading account assets$0
Bank premises and fixed assets$441
Other real estate owned$222
Goodwill and other intangibles$0
All other assets$1,409
Life insurance assets$55,922
Total liabilities and capital$49,811
Total liabilities$49,150
Total deposits$33,488
Interest-bearing deposits$49,150
Deposits held in domestic offices$95
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$473
Other borrowed funds $0
Subordinated debt $188
All other liabilities $6,111
Total equity capital$6,111
Total bank equity capital$6,111
Perpetual preferred stock$0
Common stock$563
Surplus$5,883
Undivided profits $-335
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 $579
Earning assets $54
Long-term assets (5+ years) $356
Average Assets, year-to-date $51,928
Average Assets, quarterly $5,967
Volatile liabilities $55,504
Insider loans $55,040
FHLB advances $46,420
Loans and leases held for sale $53,771
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $6,459
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $2,756
Derivatives$61
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $2,399
Total interest expense $427
Net interest income $1,972
Provision for loan and lease losses $0
Total noninterest income $427
Fiduciary activities $0
Service charges on deposit accounts $335
Trading account gains & fees $0
Additional noninterest income $92
Total noninterest expense $1,837
Salaries and employee benefits $852
Premises and equipment expense $280
Additional noninterest expense $705
Pre-tax net operating income $562
Securities gains (losses) -$431
Applicable income taxes $27
Income before extraordinary items $104
Extraordinary gains - net $0
Net income attributable to bank $104
Net charge-offs $0
Cash dividends $104
Sale, conversion, retirement of capital stock, net $91
Net operating income $205
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.65%
Cost of funding earning assets 0.83%
Net interest margin 3.82%
Noninterest income to earning assets 0.83%
Noninterest expense to earning assets 3.56%
Net operating income to assets 0.80%
Return on assets (ROA) 0.19%
Pretax return on assets 0.24%
Return on equity (ROE) 1.70%
Retained earnings to average equity (YTD only) -1.65%
Net charge-offs to loans 0.33%
Credit loss provision to net charge-offs 0.00%
Efficiency ratio6.18%
Assets per employee$76,574
Cash dividends to net income (YTD only)3.50%
Condition Ratios (%)
Loss allowance to loans 197.12%
Loss allowance to noncurrent loans 0.71%
Noncurrent assets plus other real estate owned to assets 36.61%
Noncurrent loans to loans 2.48%
Net loans and leases to deposits1.94%
Net loans and leases to core deposits 60.36%
Equity capital to assets 61.47%
Core capital (leverage) ratio 10.93%
Tier 1 risk-based capital ratio 12.01%
Total risk-based capital ratio 13.91%
Memoranda
Average assets$14
Average earning assets$55,504
Average equity $6,126
Average loans $51,595
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1 Mississippi Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
015257Covington County Bank102 S Dogwood Ave, Collins, MS 39428May 01, 1975Full Service Brick and Mortar
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