Cumberland Security Bank, Inc. in Somerset, Kentucky (KY)
Overview, Financial Summary, Detailed Financial Reports, Branches

Cumberland Security Bank, Inc. - Overview

  • General
  • FDIC Certificate #: 11358
    Status: Active
    Federal Reserve ID: 202514
    Bank Holding Company (Regulatory Top Holder): First Commerce Bancorp, Inc. (RSSDID: 2909170, Location: Somerset, KY)
    Date Established: August 13, 1909
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Domestic: 4, Interstate: No)
    OTS Docket #: 13586
    FDIC's unique #: 7257
    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: Yes
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 01, 1934
    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: 107 South Main Street, Somerset, KY 42501
    County: Pulaski
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Lexington
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: Southeast
    Core Based Statistical Area (CBSA): Somerset, KY (#43700)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $157.9 mil
    Equity capital: $20.6 mil
    Deposits held in domestic offices: $124.5 mil
    Return on assets (ROA): 2.10% ($3.3 mil)
    Quarterly return on assets: 1.68% ($2.7 mil)
    Return on Equity (ROE): 16.59% ($3.5 mil)
    Quarterly return on equity: 13.08% ($2.7 mil)
    Net income: $3.3 mil
    Quarterly Net income: $0.7 mil
    Pretax return on assets: 2.10% ($3,316.2 mil)
    Quarterly Pretax return on assets: 1.68% ($2,653.0 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
  • 61Total employees (full-time equivalent)
  • $157,914Total assets
  • $6,124Cash and due from depository institutions
  • $943Interest-bearing balances
  • $23,376Securities
  • $3,332Federal funds sold & reverse repurchase agreements
  • $116,488Net loans & leases
  • $3,573Loan loss allowance
  • $0Trading account assets
  • $3,567Bank premises and fixed assets
  • $537Other real estate owned
  • $1,390Goodwill and other intangibles
  • $157,914Life insurance assets
  • $3,100All other assets
  • $137,290Total liabilities and capital
  • $124,525Total liabilities
  • $83,810Total deposits
  • $124,525Interest-bearing deposits
  • $86Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $12,012Trading liabilities
  • $0Other borrowed funds
  • $753Subordinated debt
  • $20,624All other liabilities
  • $20,624Total equity capital
  • $20,624Total bank equity capital
  • $0Perpetual preferred stock
  • $400Common stock
  • $8,100Surplus
  • $12,124Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,029Income earned, not collected on loans
  • $0Earning assets
  • $785Long-term assets (5+ years)
  • $144,139Average Assets, year-to-date
  • $71,251Average Assets, quarterly
  • $158,220Volatile liabilities
  • $157,931Insider loans
  • $121,698FHLB advances
  • $159,265Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $19,927Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $21,092Restructured Loans and leases
  • $2,085Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $8,254Total interest income
  • $1,058Total interest expense
  • $7,196Net interest income
  • $1,260Provision for loan and lease losses
  • $2,567Total noninterest income
  • $154Fiduciary activities
  • $1,174Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,239Additional noninterest income
  • $5,187Total noninterest expense
  • $2,602Salaries and employee benefits
  • $650Premises and equipment expense
  • $1,935Additional noninterest expense
  • $3,316Pre-tax net operating income
  • $1Securities gains (losses)
  • $2Applicable income taxes
  • $3,315Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,315Net income attributable to bank
  • $0Net charge-offs
  • $3,315Cash dividends
  • $1,542Sale, conversion, retirement of capital stock, net
  • $2,315Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.74%Yield on earning assets
  • 0.74%Cost of funding earning assets
  • 5.00%Net interest margin
  • 1.78%Noninterest income to earning assets
  • 3.61%Noninterest expense to earning assets
  • 2.09%Net operating income to assets
  • 2.10%Return on assets (ROA)
  • 2.10%Pretax return on assets
  • 16.59%Return on equity (ROE)
  • 5.00%Retained earnings to average equity (YTD only)
  • 1.31%Net charge-offs to loans
  • 81.71%Credit loss provision to net charge-offs
  • 2.97%Efficiency ratio
  • 53,129Assets per employee
  • 2.59%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 69.83%Loss allowance to loans
  • 2.98%Loss allowance to noncurrent loans
  • 347.23%Noncurrent assets plus other real estate owned to assets
  • 0.99%Noncurrent loans to loans
  • 0.86%Net loans and leases to deposits
  • 93.55%Net loans and leases to core deposits
  • 103.00%Equity capital to assets
  • 13.06%Core capital (leverage) ratio
  • 12.51%Tier 1 risk-based capital ratio
  • 16.37%Total risk-based capital ratio
  • Memoranda
  • $18Average assets
  • $158,220Average earning assets
  • $19,988Average equity
  • $143,811Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $14,664Managed Assets
  • 1Number of Accounts
  • $14,664Personal trust and agency accounts
  • $14,664Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 11Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 4 Kentucky Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    07257Cumberland Security Bank, Inc.107 South Main Street, Somerset, KY 42501August 13, 1909Full Service Brick and Mortar
    1224404South Branch3758 South Hgwy 27, Somerset, KY 42501June 27, 1983Full Service Brick and Mortar
    213969Eubank Branch15000 Hgwy 1247 N, Eubank, KY 42567November 12, 1970Full Service Brick and Mortar
    4224405Somerset Branch377 U.S. Highway 27, Somerset, KY 42501January 05, 1998Full Service Brick and Mortar

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