First Farmers Bank and Trust Company in Converse, Indiana (IN)

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First Farmers Bank and Trust Company
GeneralFDIC Certificate #: 12839
Status: Active
Federal Reserve ID: 139843
Bank Holding Company (Regulatory Top Holder): First Farmers Financial Corporation (RSSDID: 1249039, Location: Converse, IN)
Date Established: January 01, 1932
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 20 (Domestic: 20, Interstate: No)
OTS Docket #: 12880
FDIC's unique #: 8129
Numeric code: 13
Regulator: FED
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: January 01, 1934
Last Structure Change Effective Date: December 05, 2009
Last Structure Change Process Date: December 09, 2009
Last Data Update: December 09, 2009
Data Source Date: April 05, 2012
LocationAddress: 123 North Jefferson Street, Converse, IN 46919
County: Miami
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Indianapolis
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
Combined Statistical Area (CSA): Kokomo-Peru, IN (#316)
Core Based Statistical Area (CBSA): Peru, IN (#37940)
CBSA Micro Statistical Area: Yes
History of ChangesParticipated in Absorption/Consolidation/Merger
Financial SummaryTotal assets: $912.5 mil
Equity capital: $93.6 mil
Deposits held in domestic offices: $732.0 mil
Return on assets (ROA): 1.32% ($12.0 mil)
Quarterly return on assets: 1.38% ($12.6 mil)
Return on Equity (ROE): 12.92% ($12.1 mil)
Quarterly return on equity: 13.47% ($12.7 mil)
Net income: $11.5 mil
Quarterly Net income: $3.1 mil
Pretax return on assets: 1.82% ($16,606.8 mil)
Quarterly Pretax return on assets: 1.79% ($16,333.1 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)211
Total assets$912,462
Cash and due from depository institutions$22,205
Interest-bearing balances$1,592
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$689,854
Loan loss allowance $8,423
Trading account assets$0
Bank premises and fixed assets$13,460
Other real estate owned$1,295
Goodwill and other intangibles$10,214
All other assets$20,367
Life insurance assets$912,462
Total liabilities and capital$818,911
Total liabilities$732,043
Total deposits$579,744
Interest-bearing deposits$732,043
Deposits held in domestic offices$80
% insured (estimated)1900.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$72,325
Other borrowed funds $0
Subordinated debt $12,643
All other liabilities $93,551
Total equity capital$93,551
Total bank equity capital$93,551
Perpetual preferred stock$0
Common stock$1,694
Undivided profits $53,112
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $12,375
Income earned, not collected on loans $4,337
Earning assets $1,737
Long-term assets (5+ years) $5,279
Average Assets, year-to-date $846,513
Average Assets, quarterly $152,503
Volatile liabilities $872,115
Insider loans $903,340
FHLB advances $741,041
Loans and leases held for sale $914,970
Unused loan commitments $1,132
Tier 1 (core) risk-based capital $17
Tier 2 risk-based capital $83,820
Total risk weighted assets $536
Total unused commitments $579
Restructured Loans and leases $161,884
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $42,152
Total interest expense $7,747
Net interest income $34,405
Provision for loan and lease losses $4,875
Total noninterest income $8,234
Fiduciary activities $166
Service charges on deposit accounts $1,927
Trading account gains & fees $0
Additional noninterest income $6,141
Total noninterest expense $21,893
Salaries and employee benefits $12,616
Premises and equipment expense $3,422
Additional noninterest expense $5,855
Pre-tax net operating income $15,871
Securities gains (losses) $24
Applicable income taxes $4,405
Income before extraordinary items $11,490
Extraordinary gains - net $0
Net income attributable to bank $11,490
Net charge-offs $0
Cash dividends $11,490
Sale, conversion, retirement of capital stock, net $4,741
Net operating income $3,650
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.21%
Cost of funding earning assets 0.96%
Net interest margin 4.25%
Noninterest income to earning assets 1.02%
Noninterest expense to earning assets 2.71%
Net operating income to assets 1.32%
Return on assets (ROA) 1.32%
Pretax return on assets 1.82%
Return on equity (ROE) 12.92%
Retained earnings to average equity (YTD only) 8.82%
Net charge-offs to loans 0.72%
Credit loss provision to net charge-offs 102.83%
Efficiency ratio4.38%
Assets per employee$49,612
Cash dividends to net income (YTD only)4.32%
Condition Ratios (%)
Loss allowance to loans 31.77%
Loss allowance to noncurrent loans 1.21%
Noncurrent assets plus other real estate owned to assets 194.21%
Noncurrent loans to loans 0.62%
Net loans and leases to deposits0.62%
Net loans and leases to core deposits 94.24%
Equity capital to assets 108.43%
Core capital (leverage) ratio 10.25%
Tier 1 risk-based capital ratio 9.16%
Total risk-based capital ratio 11.31%
Average assets$12
Average earning assets$872,115
Average equity $88,916
Average loans $809,170
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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$48,000
Number of Accounts1
Personal trust and agency accounts$20,269
Employee benefit-defined contribution accounts$19,548
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$721
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts103
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$27,731
Corporate trust and agency accounts$7,316
Other fiduciary accounts$20,415
Fiduciary accounts held in foreign offices$0
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20 Indiana Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
08129First Farmers Bank And Trust Company123 North Jefferson Street, Converse, IN 46919January 01, 1932Full Service Brick and Mortar
1227962Elwood BranchHighway 37 & 13, Elwood, IN 46036January 01, 1932Full Service Brick and Mortar
4227965State Highway 28 East Tipton BranchIndiana State Highway 28 E, Tipton County, IN 46072March 21, 1977Full Service Brick and Mortar
7203044Kokomo North Office2041 N. Reed Rd., Kokomo, IN 46901September 15, 1967Full Service Brick and Mortar
89935Amboy BranchNorth Main Street, Amboy, IN 46911March 19, 1919Full Service Brick and Mortar
9203045Greentown Branch603 West Main Street, Greentown, IN 46936April 18, 1988Full Service Brick and Mortar
10227967Kokomo Branch410 Flint Way Drive, Kokomo, IN 46901December 02, 1996Full Service Brick and Mortar
11227968Peru Branch122 South Broadway, Peru, IN 46970September 02, 1997Full Service Brick and Mortar
12221872Galveston Branch112 South California Street, Galveston, IN 46932December 16, 1935Full Service Brick and Mortar
138305Sheridan Branch322 South Main Street, Sheridan, IN 46069January 01, 1914Full Service Brick and Mortar
15229093North Cass Branch1004 North Cass, Wabash, IN 46992September 07, 1989Full Service Brick and Mortar
16229187Logansport Branch3900 U.S. 24 East, Logansport, IN 46947July 26, 1986Full Service Brick and Mortar
18416782 North Broadway Branch2 North Broadway, Peru, IN 46970January 01, 1911Full Service Brick and Mortar
19270904Knox Branch1402 S. Heaton, Knox, IN 46534March 01, 1934Full Service Brick and Mortar
209365North Judson Branch310 Lane Street, North Judson, IN 46366April 26, 1927Full Service Brick and Mortar
219853Culver BranchMain And Jefferson, Culver, IN 46511January 01, 1905Full Service Brick and Mortar
22478815Huntington Branch211 Hauenstein Road, Huntington, IN 46750July 01, 2007Full Service Brick and Mortar
23491182Marion Branch830 North Baldwin Avenue, Marion, IN 46952May 14, 2009Full Service Brick and Mortar
2410697Central Bank Branch160 W Main St, Russiaville, IN 46979Febuary 19, 1947Full Service Brick and Mortar
25238293Kokomo Branch501 West Lincoln Road, Kokomo, IN 46901August 27, 1973Full Service Brick and Mortar
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