Cumberland Security Bank, Inc. in Somerset, Kentucky (KY)

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Cumberland Security Bank, Inc. routing number info

Table of contents:
Cumberland Security Bank, Inc.
GeneralFDIC 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
LocationAddress: 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 ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal 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)
Total employees (full-time equivalent)61
Total assets$157,914
Cash and due from depository institutions$6,124
Interest-bearing balances$943
Federal funds sold & reverse repurchase agreements$3,332
Net loans & leases$116,488
Loan loss allowance $3,573
Trading account assets$0
Bank premises and fixed assets$3,567
Other real estate owned$537
Goodwill and other intangibles$1,390
All other assets$3,100
Life insurance assets$157,914
Total liabilities and capital$137,290
Total liabilities$124,525
Total deposits$83,810
Interest-bearing deposits$124,525
Deposits held in domestic offices$86
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$12,012
Other borrowed funds $0
Subordinated debt $753
All other liabilities $20,624
Total equity capital$20,624
Total bank equity capital$20,624
Perpetual preferred stock$0
Common stock$400
Undivided profits $12,124
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 $1,029
Earning assets $0
Long-term assets (5+ years) $785
Average Assets, year-to-date $144,139
Average Assets, quarterly $71,251
Volatile liabilities $158,220
Insider loans $157,931
FHLB advances $121,698
Loans and leases held for sale $159,265
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $19,927
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $21,092
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $8,254
Total interest expense $1,058
Net interest income $7,196
Provision for loan and lease losses $1,260
Total noninterest income $2,567
Fiduciary activities $154
Service charges on deposit accounts $1,174
Trading account gains & fees $0
Additional noninterest income $1,239
Total noninterest expense $5,187
Salaries and employee benefits $2,602
Premises and equipment expense $650
Additional noninterest expense $1,935
Pre-tax net operating income $3,316
Securities gains (losses) $1
Applicable income taxes $2
Income before extraordinary items $3,315
Extraordinary gains - net $0
Net income attributable to bank $3,315
Net charge-offs $0
Cash dividends $3,315
Sale, conversion, retirement of capital stock, net $1,542
Net operating income $2,315
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.74%
Cost of funding earning assets 0.74%
Net interest margin 5.00%
Noninterest income to earning assets 1.78%
Noninterest expense to earning assets 3.61%
Net operating income to assets 2.09%
Return on assets (ROA) 2.10%
Pretax return on assets 2.10%
Return on equity (ROE) 16.59%
Retained earnings to average equity (YTD only) 5.00%
Net charge-offs to loans 1.31%
Credit loss provision to net charge-offs 81.71%
Efficiency ratio2.97%
Assets per employee$53,129
Cash dividends to net income (YTD only)2.59%
Condition Ratios (%)
Loss allowance to loans 69.83%
Loss allowance to noncurrent loans 2.98%
Noncurrent assets plus other real estate owned to assets 347.23%
Noncurrent loans to loans 0.99%
Net loans and leases to deposits0.86%
Net loans and leases to core deposits 93.55%
Equity capital to assets 103.00%
Core capital (leverage) ratio 13.06%
Tier 1 risk-based capital ratio 12.51%
Total risk-based capital ratio 16.37%
Average assets$18
Average earning assets$158,220
Average equity $19,988
Average loans $143,811
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$14,664
Number of Accounts1
Personal trust and agency accounts$14,664
Employee benefit-defined contribution accounts$14,664
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts11
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
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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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