First State Bank in Union City, Tennessee (TN)



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First State Bank
GeneralFDIC Certificate #: 1479
Status: Active
Federal Reserve ID: 126254
Bank Holding Company (Regulatory Top Holder): Community First Bancshares, Inc. (RSSDID: 1140659, Location: Union City, TN)
Date Established: January 10, 1887
WWW: http://www.first-state.net
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 32 (Domestic: 30, Interstate: No)
OTS Docket #: 9404
FDIC's unique #: 975
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 01, 1934
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: 115 West Washington Avenue, Union City, TN 38261
County: Obion
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: Southeast
Combined Statistical Area (CSA): Union City-Martin, TN-KY (#542)
Core Based Statistical Area (CBSA): Union City, TN-KY (#46460)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $1,646.2 mil
Equity capital: $168.7 mil
Deposits held in domestic offices: $1,393.0 mil
Return on assets (ROA): 0.81% ($13.3 mil)
Quarterly return on assets: 1.03% ($17.0 mil)
Return on Equity (ROE): 8.33% ($14.1 mil)
Quarterly return on equity: 10.02% ($16.9 mil)
Net income: $12.8 mil
Quarterly Net income: $4.2 mil
Pretax return on assets: 1.18% ($19,425.5 mil)
Quarterly Pretax return on assets: 1.50% ($24,693.4 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)428
Total assets$1,646,228
Cash and due from depository institutions$29,491
Interest-bearing balances$16,915
Securities$535,293
Federal funds sold & reverse repurchase agreements$59,033
Net loans & leases$923,205
Loan loss allowance $18,954
Trading account assets$0
Bank premises and fixed assets$41,883
Other real estate owned$12,848
Goodwill and other intangibles$2,670
All other assets$41,805
Life insurance assets$1,646,228
Total liabilities and capital$1,477,469
Total liabilities$1,393,013
Total deposits$1,271,045
Interest-bearing deposits$1,393,013
Deposits held in domestic offices$74
% insured (estimated)9788.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$66,055
Other borrowed funds $0
Subordinated debt $8,613
All other liabilities $168,759
Total equity capital$168,659
Total bank equity capital$168,659
Perpetual preferred stock$125
Common stock$231
Surplus$94,162
Undivided profits $74,141
Memoranda
Noncurrent loans and leases $100
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $15,144
Income earned, not collected on loans $5,490
Earning assets $0
Long-term assets (5+ years) $6,276
Average Assets, year-to-date $1,534,446
Average Assets, quarterly $646,316
Volatile liabilities $1,567,092
Insider loans $1,624,322
FHLB advances $1,006,990
Loans and leases held for sale $1,610,478
Unused loan commitments $20,150
Tier 1 (core) risk-based capital $6,274
Tier 2 risk-based capital $157,786
Total risk weighted assets $0
Total unused commitments $13,876
Restructured Loans and leases $128,104
Derivatives$54,721
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $75,613
Total interest expense $20,315
Net interest income $55,298
Provision for loan and lease losses $7,073
Total noninterest income $14,359
Fiduciary activities $29
Service charges on deposit accounts $5,432
Trading account gains & fees $0
Additional noninterest income $8,898
Total noninterest expense $44,298
Salaries and employee benefits $26,214
Premises and equipment expense $7,650
Additional noninterest expense $10,434
Pre-tax net operating income $18,286
Securities gains (losses) $230
Applicable income taxes $5,751
Income before extraordinary items $12,765
Extraordinary gains - net $0
Net income attributable to bank $12,765
Net charge-offs $0
Cash dividends $12,765
Sale, conversion, retirement of capital stock, net $6,145
Net operating income $16
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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 1.40%
Net interest margin 3.81%
Noninterest income to earning assets 0.99%
Noninterest expense to earning assets 3.05%
Net operating income to assets 0.80%
Return on assets (ROA) 0.81%
Pretax return on assets 1.18%
Return on equity (ROE) 8.33%
Retained earnings to average equity (YTD only) 8.32%
Net charge-offs to loans 0.63%
Credit loss provision to net charge-offs 115.10%
Efficiency ratio4.13%
Assets per employee$63,059
Cash dividends to net income (YTD only)3.85%
Condition Ratios (%)
Loss allowance to loans 0.13%
Loss allowance to noncurrent loans 2.01%
Noncurrent assets plus other real estate owned to assets 345.25%
Noncurrent loans to loans 1.11%
Net loans and leases to deposits0.58%
Net loans and leases to core deposits 66.27%
Equity capital to assets 80.49%
Core capital (leverage) ratio 10.25%
Tier 1 risk-based capital ratio 9.80%
Total risk-based capital ratio 15.67%
Memoranda
Average assets$17
Average earning assets$1,567,092
Average equity $153,235
Average loans $1,451,943
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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$7,740
Number of Accounts1
Personal trust and agency accounts$5,002
Employee benefit-defined contribution accounts$5,002
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts116
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$2,738
Corporate trust and agency accounts$914
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$1,824
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32 Tennessee Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0975First State Bank115 West Washington Avenue, Union City, TN 38261January 10, 1887Full Service Brick and Mortar
3362441Weakley County Branch8798 Hwy 22 Dresden, Dresden, TN 38225October 01, 2001Full Service Brick and Mortar
4192564Greenfield Branch302 North Front Streeet, Greenfield, TN 38230January 02, 1991Full Service Brick and Mortar
5192565First State Bank347 West Church Street, Lexington, TN 38351December 28, 1997Full Service Brick and Mortar
6192566First State Bank135 Carriage House Drive, Jackson, TN 38301September 08, 1998Full Service Brick and Mortar
8366259Sharon Branch142 East Main Street, Sharon, TN 38255January 27, 2003Full Service Brick and Mortar
10192619University Plaza Drive Branch126 University Plaza Drive, Martin, TN 38237August 01, 1988Full Service Brick and Mortar
11192620Dyersburg Branch2310 Parr Avenue, Dyersburg, TN 38024July 16, 1998Full Service Brick and Mortar
12366231Martin Branch106 University Street, Martin, TN 38237January 27, 2003Full Service Brick and Mortar
14208741Rives BranchMain Street, Rives, TN 38253March 02, 1987Full Service Brick and Mortar
155525Union City Branch100 East Reelfoot Avenue, Union City, TN 38261January 01, 1909Full Service Brick and Mortar
16218822South Broadway Branch605 South Broadway Street, South Fulton, TN 38257April 03, 1972Full Service Brick and Mortar
17357990Troy Branch105 Westbrook Street, Troy, TN 38260August 21, 2000Full Service Brick and Mortar
18358657Goodlettsville Branch300 Northcreek Blvd, Goodlettsville, TN 37072October 02, 2000Full Service Brick and Mortar
19359422White House Branch117 Raymond Hirsch Pkwy, White House, TN 37188January 08, 2001Full Service Brick and Mortar
20366233Kenton Branch107 North Poplar Street, Kenton, TN 38233January 27, 2003Full Service Brick and Mortar
21418906Dresden Branch101 S Church Street, Dresden, TN 38225March 24, 2003Full Service Brick and Mortar
23419380Nashville Branch1720 West End Avenue, Nashville, TN 37203July 09, 2003Full Service Brick and Mortar
26439447First State Bank11300 Highway 51 South, Atoka, TN 38004March 21, 2005Full Service Brick and Mortar
27440220Hendersonville Branch291 East Main Street, Hendersonville, TN 37075December 13, 2004Full Service Brick and Mortar
28440221Gallatin Branch1135 Nashville Pike, Gallatin, TN 37066Febuary 22, 2005Full Service Brick and Mortar
30447920First State Bank2628 North Central Avenue, Humboldt, TN 38343Febuary 13, 2006Full Service Brick and Mortar
31448827First State Mortgage - Henderson Lpo102 South Cason, Henderson, TN 38340Febuary 21, 2006Limited Service Loan Production
35450320Hendersonville Ii Branch1040 Glenbrook Way, Hendersonville, TN 37075March 21, 2006Full Service Brick and Mortar
38454898First State Bank25 South Grand Avenue, Brownsville, TN 38012September 08, 2006Full Service Brick and Mortar
39455614First State Bank480 Oil Well Road, Jackson, TN 38305September 18, 2006Full Service Brick and Mortar
40462048First State Bank3607 South Houston Levee Road, Collierville, TN 38017April 02, 2007Full Service Brick and Mortar
45478931First State Bank Branch8351 E. Walker Springs Lane, Knoxville, TN 37923March 19, 2008Full Service Brick and Mortar
46481117First State Mortgage7114 Highway 70 South, Suite 105, Nashville, TN 37221September 29, 2008Limited Service Loan Production
48489899Dyersburg Branch213 Church Street, Dyersburg, TN 38024December 19, 2008Full Service Brick and Mortar
49527651First State Bank Loan Production Off1203 Murfreesboro Road, #549, Franklin, TN 37064January 01, 2012Limited Service Loan Production
50529956First State Bank1203 Murfreesboro Road, Franklin, TN 37064March 19, 2012Full Service Brick and Mortar
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