First National Bank of Clarksdale in Clarksdale, Mississippi (MS)

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First National Bank of Clarksdale
GeneralFDIC Certificate #: 19070
Status: Active
Federal Reserve ID: 11640
Bank Holding Company (Regulatory Top Holder): First Valley National Corp. (RSSDID: 1097100, Location: Clarksdale, MS)
Date Established: April 01, 1964
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 5 (Domestic: 5, Interstate: No)
OTS Docket #: 11550
FDIC's unique #: 12904
Numeric code: 3
Regulator: OCC
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: No
Subchapter S Corporations: No
Asset Concentration Hierarchy: Agricultural Specialization
Date of Deposit Insurance: April 01, 1964
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: 402 East Second Street, Clarksdale, MS 38614
County: Coahoma
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Memphis
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: West
Core Based Statistical Area (CBSA): Clarksdale, MS (#17260)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $320.7 mil
Equity capital: $33.2 mil
Deposits held in domestic offices: $265.9 mil
Return on assets (ROA): 1.24% ($4.0 mil)
Quarterly return on assets: 1.30% ($4.2 mil)
Return on Equity (ROE): 12.66% ($4.2 mil)
Quarterly return on equity: 12.88% ($4.3 mil)
Net income: $4.0 mil
Quarterly Net income: $1.1 mil
Pretax return on assets: 1.52% ($4,873.9 mil)
Quarterly Pretax return on assets: 1.28% ($4,104.4 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)55
Total assets$320,654
Cash and due from depository institutions$20,935
Interest-bearing balances$11,179
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$178,929
Loan loss allowance $2,849
Trading account assets$0
Bank premises and fixed assets$5,348
Other real estate owned$396
Goodwill and other intangibles$0
All other assets$13,365
Life insurance assets$320,654
Total liabilities and capital$287,501
Total liabilities$265,868
Total deposits$207,911
Interest-bearing deposits$265,868
Deposits held in domestic offices$78
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$20,000
Other borrowed funds $0
Subordinated debt $1,633
All other liabilities $33,153
Total equity capital$33,153
Total bank equity capital$33,153
Perpetual preferred stock$0
Common stock$650
Undivided profits $6,783
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 $112
Earning assets $0
Long-term assets (5+ years) $2,661
Average Assets, year-to-date $291,789
Average Assets, quarterly $96,657
Volatile liabilities $325,924
Insider loans $333,788
FHLB advances $213,164
Loans and leases held for sale $319,340
Unused loan commitments $7,010
Tier 1 (core) risk-based capital $7,010
Tier 2 risk-based capital $31,072
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $28,700
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $14,589
Total interest expense $2,918
Net interest income $11,671
Provision for loan and lease losses $75
Total noninterest income $2,044
Fiduciary activities $351
Service charges on deposit accounts $1,185
Trading account gains & fees $0
Additional noninterest income $508
Total noninterest expense $8,864
Salaries and employee benefits $5,553
Premises and equipment expense $1,124
Additional noninterest expense $2,187
Pre-tax net operating income $4,776
Securities gains (losses) $169
Applicable income taxes $910
Income before extraordinary items $4,035
Extraordinary gains - net $0
Net income attributable to bank $4,035
Net charge-offs $0
Cash dividends $4,035
Sale, conversion, retirement of capital stock, net $45
Net operating income $1,755
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.98%
Cost of funding earning assets 1.00%
Net interest margin 3.98%
Noninterest income to earning assets 0.70%
Noninterest expense to earning assets 3.02%
Net operating income to assets 1.20%
Return on assets (ROA) 1.24%
Pretax return on assets 1.52%
Return on equity (ROE) 12.66%
Retained earnings to average equity (YTD only) 7.15%
Net charge-offs to loans 0.02%
Credit loss provision to net charge-offs 166.67%
Efficiency ratio107.80%
Assets per employee$64,630
Cash dividends to net income (YTD only)5.83%
Condition Ratios (%)
Loss allowance to loans 43.49%
Loss allowance to noncurrent loans 1.57%
Noncurrent assets plus other real estate owned to assets 2543.75%
Noncurrent loans to loans 0.16%
Net loans and leases to deposits0.06%
Net loans and leases to core deposits 67.30%
Equity capital to assets 74.08%
Core capital (leverage) ratio 10.34%
Tier 1 risk-based capital ratio 9.73%
Total risk-based capital ratio 14.58%
Average assets$16
Average earning assets$325,924
Average equity $31,869
Average loans $293,238
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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$28,606
Number of Accounts1
Personal trust and agency accounts$12,600
Employee benefit-defined contribution accounts$4,071
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$1,464
Investment management agency accounts$7,065
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts81
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$1,464
Employee benefit-defined benefit accounts$0
Other retirement accounts$16,006
Corporate trust and agency accounts$5,569
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$3,405
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5 Mississippi Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
012904First National Bank Of Clarksdale402 East Second Street, Clarksdale, MS 38614April 01, 1964Full Service Brick and Mortar
4247250Westgate Branch1009 Lee Drive, Clarksdale, MS 38614Febuary 22, 1995Full Service Brick and Mortar
5360724Nortside Branch112 East Lee Drive, Clarksdale, MS 38614March 19, 2001Full Service Brick and Mortar
6450696University Avenue Branch3043 University Avenue, Oxford, MS 38655March 01, 2006Full Service Brick and Mortar
7467071Bank Of Oxford- Jackson Avenue Branc2531 Jackson Avenue, Oxford, MS 38655June 04, 2007Full Service Brick and Mortar
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