First Bank of the South in Rainsville, Alabama (AL)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • First Bank of the South in Rainsville, Alabama (AL)
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First Bank of the South - Overview

  • General
  • FDIC Certificate #: 24307
    Status: Active
    Federal Reserve ID: 437138
    Bank Holding Company (Regulatory Top Holder): First Rainsville Bancshares, Inc. Employee Stock Ownership Plan (RSSDID: 2503877, Location: Rainsville, AL)
    Date Established: Febuary 01, 1983
    WWW: http://www.firstbanksouth.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    FDIC's unique #: 16909
    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: All Other Specialization < 1 Billion
    Date of Deposit Insurance: Febuary 01, 1983
    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: 246 Main Street, Rainsville, AL 35986
    County: De Kalb
    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
    Core Based Statistical Area (CBSA): Fort Payne, AL (#22840)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Change in Geographic Region/Area/Territory/Field Office
  • Financial Summary
  • Total assets: $83.4 mil
    Equity capital: $6.7 mil
    Deposits held in domestic offices: $75.7 mil
    Return on assets (ROA): 0.26% ($0.2 mil)
    Quarterly return on assets: 0.19% ($0.2 mil)
    Return on Equity (ROE): 3.55% ($0.2 mil)
    Quarterly return on equity: 2.44% ($0.2 mil)
    Net income: $0.2 mil
    Quarterly Net income: $0.0 mil
    Pretax return on assets: 0.27% ($225.3 mil)
    Quarterly Pretax return on assets: 0.18% ($150.2 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
  • 30Total employees (full-time equivalent)
  • $83,430Total assets
  • $6,768Cash and due from depository institutions
  • $0Interest-bearing balances
  • $18,163Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $51,956Net loans & leases
  • $652Loan loss allowance
  • $0Trading account assets
  • $1,368Bank premises and fixed assets
  • $625Other real estate owned
  • $0Goodwill and other intangibles
  • $83,430Life insurance assets
  • $4,550All other assets
  • $76,733Total liabilities and capital
  • $75,738Total liabilities
  • $54,793Total deposits
  • $75,738Interest-bearing deposits
  • $96Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $995Subordinated debt
  • $6,697All other liabilities
  • $6,697Total equity capital
  • $6,697Total bank equity capital
  • $0Perpetual preferred stock
  • $55Common stock
  • $1,770Surplus
  • $4,872Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $557Income earned, not collected on loans
  • $0Earning assets
  • $668Long-term assets (5+ years)
  • $70,119Average Assets, year-to-date
  • $15,565Average Assets, quarterly
  • $84,783Volatile liabilities
  • $85,255Insider loans
  • $54,930FHLB advances
  • $83,966Loans and leases held for sale
  • $2,026Unused loan commitments
  • $2,026Tier 1 (core) risk-based capital
  • $6,618Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $4,369Restructured Loans and leases
  • $2,278Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $3,723Total interest income
  • $677Total interest expense
  • $3,046Net interest income
  • $319Provision for loan and lease losses
  • $726Total noninterest income
  • $0Fiduciary activities
  • $458Service charges on deposit accounts
  • $0Trading account gains & fees
  • $268Additional noninterest income
  • $3,221Total noninterest expense
  • $1,734Salaries and employee benefits
  • $565Premises and equipment expense
  • $922Additional noninterest expense
  • $232Pre-tax net operating income
  • $0Securities gains (losses)
  • $8Applicable income taxes
  • $224Income before extraordinary items
  • $0Extraordinary gains - net
  • $224Net income attributable to bank
  • $0Net charge-offs
  • $224Cash dividends
  • $274Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.54%Yield on earning assets
  • 1.01%Cost of funding earning assets
  • 4.53%Net interest margin
  • 1.08%Noninterest income to earning assets
  • 4.79%Noninterest expense to earning assets
  • 0.26%Net operating income to assets
  • 0.26%Return on assets (ROA)
  • 0.27%Pretax return on assets
  • 3.55%Return on equity (ROE)
  • 3.55%Retained earnings to average equity (YTD only)
  • 0.49%Net charge-offs to loans
  • 116.42%Credit loss provision to net charge-offs
  • 2.01%Efficiency ratio
  • 85,392Assets per employee
  • 2.78%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.24%Loss allowance to noncurrent loans
  • 117.06%Noncurrent assets plus other real estate owned to assets
  • 1.42%Noncurrent loans to loans
  • 1.06%Net loans and leases to deposits
  • 68.60%Net loans and leases to core deposits
  • 70.73%Equity capital to assets
  • 8.03%Core capital (leverage) ratio
  • 7.88%Tier 1 risk-based capital ratio
  • 12.05%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $84,783Average earning assets
  • $6,315Average equity
  • $67,179Average loans

List of branches

  • 3 Alabama Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    016909First Bank Of The South246 Main Street, Rainsville, AL 35986Febuary 01, 1983Full Service Brick and Mortar
    2257133Henagar Branch17583 Alabama Highway 75, Henagar, AL 35978June 05, 1995Full Service Brick and Mortar
    3257134Grant Branch4770 Main Street, Grant, AL 35747March 02, 1998Full Service Brick and Mortar

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