Drummond Community Bank in Chiefland, Florida (FL)
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| Drummond Community Bank | |
|---|---|
| General | FDIC Certificate #: 32737 Status: Active Federal Reserve ID: 1436071 Bank Holding Company (Regulatory Top Holder): Drummond Banking Company (RSSDID: 1493579, Location: Chiefland, FL) Date Established: January 12, 1990 WWW: http://www.drummondbank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 7 (Domestic: 7, Interstate: No) OTS Docket #: 12643 FDIC's unique #: 45603 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: All Other Specialization < 1 Billion Date of Deposit Insurance: January 12, 1990 Last Structure Change Effective Date: May 30, 2007 Last Structure Change Process Date: May 30, 2007 Last Data Update: May 30, 2007 Data Source Date: April 05, 2012 |
| Location | Address: 1627 North Young Boulevard, Chiefland, FL 32626 County: Levy Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Gainesville Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast |
| Financial Summary | Total assets: $200.1 mil Equity capital: $36.5 mil Deposits held in domestic offices: $150.8 mil Return on assets (ROA): 1.76% ($3.5 mil) Quarterly return on assets: 1.21% ($2.4 mil) Return on Equity (ROE): 10.38% ($3.7 mil) Quarterly return on equity: 6.65% ($2.4 mil) Net income: $3.5 mil Quarterly Net income: $0.6 mil Pretax return on assets: 1.76% ($3,521.4 mil) Quarterly Pretax return on assets: 1.21% ($2,420.9 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 68 |
| Total assets | $200,077 |
| Cash and due from depository institutions | $5,488 |
| Interest-bearing balances | $2,870 |
| Securities | $83,980 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $97,300 |
| Loan loss allowance | $3,032 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $8,012 |
| Other real estate owned | $1,476 |
| Goodwill and other intangibles | $0 |
| All other assets | $3,821 |
| Life insurance assets | $200,077 |
| Total liabilities and capital | $163,616 |
| Total liabilities | $150,842 |
| Total deposits | $107,831 |
| Interest-bearing deposits | $150,842 |
| Deposits held in domestic offices | $78 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $11,550 |
| Other borrowed funds | $0 |
| Subordinated debt | $1,224 |
| All other liabilities | $36,461 |
| Total equity capital | $36,461 |
| Total bank equity capital | $36,461 |
| Perpetual preferred stock | $0 |
| Common stock | $907 |
| Surplus | $2,589 |
| Undivided profits | $32,965 |
| 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 | $2,242 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $1,662 |
| Average Assets, year-to-date | $184,150 |
| Average Assets, quarterly | $83,449 |
| Volatile liabilities | $197,055 |
| Insider loans | $197,558 |
| FHLB advances | $113,553 |
| Loans and leases held for sale | $198,991 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $32,194 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $2,437 |
| Derivatives | $4,293 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $10,919 |
| Total interest expense | $593 |
| Net interest income | $10,326 |
| Provision for loan and lease losses | $1,579 |
| Total noninterest income | $1,325 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $957 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $368 |
| Total noninterest expense | $7,234 |
| Salaries and employee benefits | $3,575 |
| Premises and equipment expense | $1,641 |
| Additional noninterest expense | $2,018 |
| Pre-tax net operating income | $2,838 |
| Securities gains (losses) | $633 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $3,471 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $3,471 |
| Net charge-offs | $0 |
| Cash dividends | $3,471 |
| Sale, conversion, retirement of capital stock, net | $1,204 |
| Net operating income | $1,705 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 6.00% |
| Cost of funding earning assets | 0.33% |
| Net interest margin | 5.68% |
| Noninterest income to earning assets | 0.73% |
| Noninterest expense to earning assets | 3.98% |
| Net operating income to assets | 1.44% |
| Return on assets (ROA) | 1.76% |
| Pretax return on assets | 1.76% |
| Return on equity (ROE) | 10.38% |
| Retained earnings to average equity (YTD only) | 5.28% |
| Net charge-offs to loans | 1.22% |
| Credit loss provision to net charge-offs | 131.15% |
| Efficiency ratio | 3.67% |
| Assets per employee | $62,089 |
| Cash dividends to net income (YTD only) | 2.94% |
| Condition Ratios (%) | |
| Loss allowance to loans | 49.12% |
| Loss allowance to noncurrent loans | 3.02% |
| Noncurrent assets plus other real estate owned to assets | 135.24% |
| Noncurrent loans to loans | 1.86% |
| Net loans and leases to deposits | 2.23% |
| Net loans and leases to core deposits | 64.50% |
| Equity capital to assets | 70.32% |
| Core capital (leverage) ratio | 18.22% |
| Tier 1 risk-based capital ratio | 16.18% |
| Total risk-based capital ratio | 28.35% |
| Memoranda | |
| Average assets | $30 |
| Average earning assets | $197,055 |
| Average equity | $33,448 |
| Average loans | $181,924 |
| 7 Florida Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 45603 | Drummond Community Bank | 1627 North Young Boulevard, Chiefland, FL 32626 | January 12, 1990 | Full Service Brick and Mortar |  |
| 1 | 7872 | Cedar Key Branch | 2124 N.W. Fourth Place, Cedar Key, FL 32625 | January 01, 1912 | Full Service Brick and Mortar |  |
| 4 | 288990 | Dixie County Branch | 200 South West Cedar Street, Cross City, FL 32628 | July 25, 1994 | Full Service Brick and Mortar | |
| 5 | 359710 | Trenton Branch | 1502 East Wade Street, Trenton, FL 32693 | March 19, 2001 | Full Service Brick and Mortar | |
| 6 | 362087 | Old Town Branch | North Highway 19 And 349, Old Town, FL 32680 | June 04, 2001 | Full Service Brick and Mortar | |
| 7 | 470760 | Mayo Branch | 130 Northeast Clyde Avenue, Mayo, FL 32066 | December 03, 2007 | Full Service Brick and Mortar | |
| 8 | 493787 | Bell Branch | 1879 North Us 129, Bell, FL 32619 | July 08, 2009 | Full Service Brick and Mortar | |
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