First Lowndes Bank in Fort Deposit, Alabama (AL)

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First Lowndes Bank
GeneralFDIC Certificate #: 24957
Status: Inactive
Closing history: Corrections
Acquiring institution: First Citizens Bank (#23152)
Federal Reserve ID: 314033
Date Established: Febuary 09, 1984
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Interstate: No)
FDIC's unique #: 17289
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: Yes
Date of Deposit Insurance: Febuary 09, 1984
Last Structure Change Effective Date: March 19, 2010
Last Structure Change Process Date: March 22, 2010
Last Data Update: March 22, 2010
Data Source Date: April 05, 2012
LocationAddress: 115 West Old Fort Road, Fort Deposit, AL 36032
County: Lowndes
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Montgomery
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Combined Statistical Area (CSA): Montgomery-Alexander City, AL (#388)
Core Based Statistical Area (CBSA): Montgomery, AL (#33860)
CBSA Metro Statistical Area: Montgomery, AL (#33860)
History of ChangesAbsorption - Assisted
Financial SummaryTotal assets: $137.2 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, 2009)
(Dollar figures in thousands)
Total employees (full-time equivalent)50
Total assets$137,175
Cash and due from depository institutions$8,427
Interest-bearing balances$1,510
Federal funds sold & reverse repurchase agreements$3,850
Net loans & leases$98,601
Loan loss allowance $4,053
Trading account assets$0
Bank premises and fixed assets$4,096
Other real estate owned$1,935
Goodwill and other intangibles$0
All other assets$2,407
Life insurance assets$0
Total liabilities and capital$137,175
Total liabilities$134,351
Total deposits$131,117
Interest-bearing deposits$114,201
Deposits held in domestic offices$131,117
% insured (estimated)95.84%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $2,816
Subordinated debt $0
All other liabilities $418
Total equity capital$2,824
Total bank equity capital$2,824
Perpetual preferred stock$2,824
Common stock$0
Undivided profits $4,917
Noncurrent loans and leases $-2,243
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $6,325
Income earned, not collected on loans $0
Earning assets $8,642
Long-term assets (5+ years) $0
Average Assets, year-to-date $822
Average Assets, quarterly $121,820
Volatile liabilities $13,631
Insider loans $150,291
FHLB advances $140,076
Loans and leases held for sale $40,472
Unused loan commitments $1,854
Tier 1 (core) risk-based capital $2,816
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $6,325
Restructured Loans and leases $1,850
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Income and Expense (December 31, 2009)
(Dollar figures in thousands)
Total interest income $7,800
Total interest expense $3,830
Net interest income $3,970
Provision for loan and lease losses $8,600
Total noninterest income $680
Fiduciary activities $0
Service charges on deposit accounts $589
Trading account gains & fees $0
Additional noninterest income $91
Total noninterest expense $4,321
Salaries and employee benefits $2,334
Premises and equipment expense $595
Additional noninterest expense $1,392
Pre-tax net operating income -$8,271
Securities gains (losses) $0
Applicable income taxes -$19
Income before extraordinary items -$8,252
Extraordinary gains - net $0
Net income attributable to bank -$8,252
Net charge-offs $0
Cash dividends -$8,252
Sale, conversion, retirement of capital stock, net $7,908
Net operating income $0
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Performance and Condition Ratios (December 31, 2009)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.75%
Cost of funding earning assets 2.82%
Net interest margin 2.93%
Noninterest income to earning assets 0.50%
Noninterest expense to earning assets 3.19%
Net operating income to assets -5.49%
Return on assets (ROA) -5.49%
Pretax return on assets -5.50%
Return on equity (ROE) -103.19%
Retained earnings to average equity (YTD only) -103.19%
Net charge-offs to loans 7.04%
Credit loss provision to net charge-offs 108.75%
Efficiency ratio0.04%
Assets per employee$92,925
Cash dividends to net income (YTD only)2.74%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 3.95%
Noncurrent assets plus other real estate owned to assets 46.90%
Noncurrent loans to loans 7.71%
Net loans and leases to deposits8.42%
Net loans and leases to core deposits 75.20%
Equity capital to assets 108.78%
Core capital (leverage) ratio 2.06%
Tier 1 risk-based capital ratio 1.98%
Total risk-based capital ratio 2.67%
Average assets$4
Average earning assets$150,291
Average equity $7,997
Average loans $135,651
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