First Southern Bank in Florence, Alabama (AL)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • First Southern Bank in Florence, Alabama (AL)
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First Southern Bank - Overview

  • General
  • FDIC Certificate #: 29332
    Status: Active
    Federal Reserve ID: 66275
    Bank Holding Company (Regulatory Top Holder): First Southern Bancshares, Inc. (RSSDID: 2313704, Location: Florence, AL)
    Date Established: January 01, 1934
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 5 (Domestic: 5, Interstate: No)
    OTS Docket #: 3294
    FDIC's unique #: 42166
    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: Commercial Lending Specialization
    Date of Deposit Insurance: January 25, 1935
    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: 301 South Court Street, Florence, AL 35630
    County: Lauderdale
    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
    Metropolitan Statistical Area (MSA): Florence, AL (#2650)
    Core Based Statistical Area (CBSA): Florence-Muscle Shoals, AL (#22520)
    CBSA Metro Statistical Area: Florence-Muscle Shoals, AL (#22520)
  • History of Changes
  • Change in Geographic Region/Area/Territory/Field Office
  • Financial Summary
  • Total assets: $176.1 mil
    Equity capital: $15.0 mil
    Deposits held in domestic offices: $160.8 mil
    Return on assets (ROA): 0.54% ($1.0 mil)
    Quarterly return on assets: 0.47% ($0.8 mil)
    Return on Equity (ROE): 6.45% ($1.0 mil)
    Quarterly return on equity: 5.57% ($0.8 mil)
    Net income: $0.9 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 0.84% ($1,479.2 mil)
    Quarterly Pretax return on assets: 0.75% ($1,320.7 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
  • 57Total employees (full-time equivalent)
  • $176,098Total assets
  • $12,873Cash and due from depository institutions
  • $10,859Interest-bearing balances
  • $32,453Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $121,093Net loans & leases
  • $2,070Loan loss allowance
  • $0Trading account assets
  • $4,578Bank premises and fixed assets
  • $294Other real estate owned
  • $0Goodwill and other intangibles
  • $176,098Life insurance assets
  • $4,807All other assets
  • $161,054Total liabilities and capital
  • $160,770Total liabilities
  • $143,981Total deposits
  • $160,770Interest-bearing deposits
  • $90Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $284Subordinated debt
  • $15,044All other liabilities
  • $15,044Total equity capital
  • $15,044Total bank equity capital
  • $0Perpetual preferred stock
  • $1Common stock
  • $18,288Surplus
  • $-3,245Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $70Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,370Income earned, not collected on loans
  • $0Earning assets
  • $643Long-term assets (5+ years)
  • $164,405Average Assets, year-to-date
  • $51,890Average Assets, quarterly
  • $166,806Volatile liabilities
  • $174,194Insider loans
  • $114,836FHLB advances
  • $174,251Loans and leases held for sale
  • $2,560Unused loan commitments
  • $2,560Tier 1 (core) risk-based capital
  • $14,559Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $22,876Restructured Loans and leases
  • $2,451Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $7,807Total interest income
  • $1,901Total interest expense
  • $5,906Net interest income
  • $100Provision for loan and lease losses
  • $1,050Total noninterest income
  • $98Fiduciary activities
  • $475Service charges on deposit accounts
  • $0Trading account gains & fees
  • $477Additional noninterest income
  • $5,498Total noninterest expense
  • $3,009Salaries and employee benefits
  • $755Premises and equipment expense
  • $1,734Additional noninterest expense
  • $1,358Pre-tax net operating income
  • $51Securities gains (losses)
  • $505Applicable income taxes
  • $904Income before extraordinary items
  • $0Extraordinary gains - net
  • $904Net income attributable to bank
  • $0Net charge-offs
  • $904Cash dividends
  • $56Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.04%Yield on earning assets
  • 1.23%Cost of funding earning assets
  • 3.81%Net interest margin
  • 0.68%Noninterest income to earning assets
  • 3.55%Noninterest expense to earning assets
  • 0.52%Net operating income to assets
  • 0.54%Return on assets (ROA)
  • 0.84%Pretax return on assets
  • 6.45%Return on equity (ROE)
  • 6.45%Retained earnings to average equity (YTD only)
  • 0.05%Net charge-offs to loans
  • 178.57%Credit loss provision to net charge-offs
  • 26.04%Efficiency ratio
  • 79,040Assets per employee
  • 3.09%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.68%Loss allowance to noncurrent loans
  • 61.42%Noncurrent assets plus other real estate owned to assets
  • 2.08%Noncurrent loans to loans
  • 2.74%Net loans and leases to deposits
  • 75.32%Net loans and leases to core deposits
  • 76.78%Equity capital to assets
  • 8.54%Core capital (leverage) ratio
  • 8.36%Tier 1 risk-based capital ratio
  • 12.68%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $166,806Average earning assets
  • $14,013Average equity
  • $154,992Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $16,087Managed Assets
  • 1Number of Accounts
  • $15,070Personal trust and agency accounts
  • $15,070Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 21Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $1,017Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $1,017Fiduciary accounts held in foreign offices

List of branches

  • 5 Alabama Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    042166First Southern Bank301 South Court Street, Florence, AL 35630January 01, 1934Full Service Brick and Mortar
    100274596Killen Branch5287 Highway 72, Killen, AL 35645January 01, 1934Full Service Brick and Mortar
    103274599Muscle Shoals Branch1027 Avalon Avenue, Muscle Shoals, AL 35661April 16, 1990Full Service Brick and Mortar
    105455368Ford City Branch5145 River Road, Muscle Shoals, AL 35661September 20, 2006Full Service Brick and Mortar
    106468175St. Florian Branch4350 County Road 47, Florence, AL 35630August 27, 2007Full Service Brick and Mortar

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