First Southern State Bank in Stevenson, Alabama (AL)



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First Southern State Bank
GeneralFDIC Certificate #: 2829
Status: Active
Federal Reserve ID: 246134
Bank Holding Company (Regulatory Top Holder): First Bancshares Of Stevenson, Inc. (RSSDID: 1869987, Location: Stevenson, AL)
Date Established: October 01, 1910
WWW: http://www.fssbank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 8 (Domestic: 8, Interstate: No)
OTS Docket #: 12485
FDIC's unique #: 1850
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: January 01, 1934
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
LocationAddress: 80 Bank Street, Stevenson, AL 35772
County: Jackson
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): Scottsboro, AL (#42460)
CBSA Micro Statistical Area: Yes
History of ChangesChange in Geographic Region/Area/Territory/Field Office
Financial SummaryTotal assets: $331.3 mil
Equity capital: $32.8 mil
Deposits held in domestic offices: $285.1 mil
Return on assets (ROA): 0.61% ($2.0 mil)
Quarterly return on assets: 0.68% ($2.3 mil)
Return on Equity (ROE): 6.24% ($2.1 mil)
Quarterly return on equity: 6.78% ($2.2 mil)
Net income: $2.0 mil
Quarterly Net income: $0.6 mil
Pretax return on assets: 0.77% ($2,551.1 mil)
Quarterly Pretax return on assets: 0.90% ($2,981.8 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)86
Total assets$331,316
Cash and due from depository institutions$30,761
Interest-bearing balances$3,210
Securities$91,407
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$183,100
Loan loss allowance $2,691
Trading account assets$0
Bank premises and fixed assets$9,674
Other real estate owned$1,371
Goodwill and other intangibles$1,035
All other assets$13,968
Life insurance assets$331,316
Total liabilities and capital$298,489
Total liabilities$285,142
Total deposits$259,362
Interest-bearing deposits$285,142
Deposits held in domestic offices$88
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$10,000
Other borrowed funds $0
Subordinated debt $3,347
All other liabilities $32,827
Total equity capital$32,827
Total bank equity capital$32,827
Perpetual preferred stock$0
Common stock$50
Surplus$1,275
Undivided profits $31,502
Memoranda
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 $2,245
Earning assets $0
Long-term assets (5+ years) $1,584
Average Assets, year-to-date $277,717
Average Assets, quarterly $94,250
Volatile liabilities $334,307
Insider loans $330,043
FHLB advances $213,833
Loans and leases held for sale $325,590
Unused loan commitments $7,126
Tier 1 (core) risk-based capital $7,126
Tier 2 risk-based capital $31,263
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $9,155
Derivatives$7,023
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $15,049
Total interest expense $3,635
Net interest income $11,414
Provision for loan and lease losses $3,500
Total noninterest income $1,942
Fiduciary activities $0
Service charges on deposit accounts $1,554
Trading account gains & fees $0
Additional noninterest income $388
Total noninterest expense $7,990
Salaries and employee benefits $3,998
Premises and equipment expense $1,133
Additional noninterest expense $2,859
Pre-tax net operating income $1,866
Securities gains (losses) $707
Applicable income taxes $550
Income before extraordinary items $2,023
Extraordinary gains - net $0
Net income attributable to bank $2,023
Net charge-offs $0
Cash dividends $2,023
Sale, conversion, retirement of capital stock, net $4,103
Net operating income $1,420
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.28%
Cost of funding earning assets 1.27%
Net interest margin 4.00%
Noninterest income to earning assets 0.68%
Noninterest expense to earning assets 2.80%
Net operating income to assets 0.44%
Return on assets (ROA) 0.61%
Pretax return on assets 0.77%
Return on equity (ROE) 6.24%
Retained earnings to average equity (YTD only) 1.86%
Net charge-offs to loans 2.11%
Credit loss provision to net charge-offs 85.30%
Efficiency ratio1.31%
Assets per employee$58,595
Cash dividends to net income (YTD only)3.85%
Condition Ratios (%)
Loss allowance to loans 70.19%
Loss allowance to noncurrent loans 1.45%
Noncurrent assets plus other real estate owned to assets 119.87%
Noncurrent loans to loans 1.09%
Net loans and leases to deposits1.21%
Net loans and leases to core deposits 64.21%
Equity capital to assets 66.79%
Core capital (leverage) ratio 9.91%
Tier 1 risk-based capital ratio 9.60%
Total risk-based capital ratio 14.62%
Memoranda
Average assets$16
Average earning assets$334,307
Average equity $32,411
Average loans $285,223
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8 Alabama Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
01850First Southern State Bank80 Bank Street, Stevenson, AL 35772October 01, 1910Full Service Brick and Mortar
1194465The Sand Mountain BranchHighway 71, Higdon, AL 35979August 08, 1967Full Service Brick and Mortar
3194467Scottsboro Branch20 Micah Way, Scottsboro, AL 35769August 12, 1996Full Service Brick and Mortar
4180938Rainsville Branch403 Main Street West, Rainsville, AL 35986October 31, 1994Full Service Brick and Mortar
5180947Fort Payne Branch1820 Glen Boulevard, Fort Payne, AL 35967November 10, 1997Full Service Brick and Mortar
65797West Main Street Branch201 West Main Street, Centre, AL 35960December 15, 1917Full Service Brick and Mortar
7219362Leesburg BranchState Highway 68 And County Highway 44, Leesburg, AL 35983November 26, 1973Full Service Brick and Mortar
8491882Fort Payne Branch2128 Gault Ave N, Fort Payne, AL 35967September 11, 2008Full Service Brick and Mortar
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