First State Bank in Waynesboro, Mississippi (MS)

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First State Bank
GeneralFDIC Certificate #: 15663
Status: Active
Federal Reserve ID: 924236
Bank Holding Company (Regulatory Top Holder): First State Corporation (RSSDID: 1083587, Location: Waynesboro, MS)
Date Established: May 01, 1934
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 12 (Domestic: 12, Interstate: No)
FDIC's unique #: 9939
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: May 01, 1939
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: 708 Azalea Drive, Waynesboro, MS 39367
County: Wayne
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Jackson Ms
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: West
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $464.9 mil
Equity capital: $49.7 mil
Deposits held in domestic offices: $377.6 mil
Return on assets (ROA): 1.01% ($4.7 mil)
Quarterly return on assets: 0.98% ($4.6 mil)
Return on Equity (ROE): 9.47% ($4.7 mil)
Quarterly return on equity: 8.96% ($4.5 mil)
Net income: $4.6 mil
Quarterly Net income: $1.1 mil
Pretax return on assets: 1.24% ($5,764.9 mil)
Quarterly Pretax return on assets: 1.21% ($5,625.4 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)138
Total assets$464,910
Cash and due from depository institutions$14,064
Interest-bearing balances$0
Federal funds sold & reverse repurchase agreements$6,889
Net loans & leases$242,986
Loan loss allowance $3,397
Trading account assets$0
Bank premises and fixed assets$8,532
Other real estate owned$2,163
Goodwill and other intangibles$0
All other assets$20,208
Life insurance assets$464,910
Total liabilities and capital$415,197
Total liabilities$377,613
Total deposits$325,674
Interest-bearing deposits$377,613
Deposits held in domestic offices$67
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$35,479
Other borrowed funds $0
Subordinated debt $2,105
All other liabilities $49,713
Total equity capital$49,713
Total bank equity capital$49,713
Perpetual preferred stock$0
Common stock$740
Undivided profits $9,831
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 $3,536
Earning assets $0
Long-term assets (5+ years) $2,554
Average Assets, year-to-date $419,943
Average Assets, quarterly $217,217
Volatile liabilities $458,573
Insider loans $461,976
FHLB advances $280,055
Loans and leases held for sale $460,450
Unused loan commitments $12,396
Tier 1 (core) risk-based capital $12,396
Tier 2 risk-based capital $46,554
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $17,055
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $21,237
Total interest expense $4,526
Net interest income $16,711
Provision for loan and lease losses $1,224
Total noninterest income $2,461
Fiduciary activities $6
Service charges on deposit accounts $1,663
Trading account gains & fees $0
Additional noninterest income $792
Total noninterest expense $12,243
Salaries and employee benefits $7,504
Premises and equipment expense $1,944
Additional noninterest expense $2,795
Pre-tax net operating income $5,705
Securities gains (losses) -$3
Applicable income taxes $1,092
Income before extraordinary items $4,610
Extraordinary gains - net $0
Net income attributable to bank $4,610
Net charge-offs $0
Cash dividends $4,610
Sale, conversion, retirement of capital stock, net $1,319
Net operating income $2,808
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.12%
Cost of funding earning assets 1.09%
Net interest margin 4.03%
Noninterest income to earning assets 0.59%
Noninterest expense to earning assets 2.95%
Net operating income to assets 1.01%
Return on assets (ROA) 1.01%
Pretax return on assets 1.24%
Return on equity (ROE) 9.47%
Retained earnings to average equity (YTD only) 3.70%
Net charge-offs to loans 0.53%
Credit loss provision to net charge-offs 92.80%
Efficiency ratio5.25%
Assets per employee$63,859
Cash dividends to net income (YTD only)3.37%
Condition Ratios (%)
Loss allowance to loans 60.91%
Loss allowance to noncurrent loans 1.38%
Noncurrent assets plus other real estate owned to assets 96.07%
Noncurrent loans to loans 1.23%
Net loans and leases to deposits1.44%
Net loans and leases to core deposits 64.35%
Equity capital to assets 73.11%
Core capital (leverage) ratio 10.69%
Tier 1 risk-based capital ratio 10.11%
Total risk-based capital ratio 16.62%
Average assets$18
Average earning assets$458,573
Average equity $48,698
Average loans $414,452
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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$979
Number of Accounts1
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
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 Accounts23
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$979
Corporate trust and agency accounts$978
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
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12 Mississippi Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
09939First State Bank708 Azalea Drive, Waynesboro, MS 39367May 01, 1934Full Service Brick and Mortar
1234911Drive-In BranchMain Street, Buckatunna, MS 39322March 24, 1966Limited Service Facility
3234913Clara Branch35 Buckatunna Chicora Clara Road, Clara, MS 39324May 06, 1969Limited Service Facility
4234914Northside Mini-Bank Branch902 Robinson Street, Waynesboro, MS 39367October 10, 1977Limited Service Facility
57556Leakesville Branch313 Lafayette Street, Leakesville, MS 39451January 01, 1903Full Service Brick and Mortar
6225662State Line BranchSt. Peter Street, State Line, MS 39362April 16, 1947Full Service Brick and Mortar
8234915Mortgage Loan Center Branch717 Wayne Street, Waynesboro, MS 39367June 21, 1993Full Service Brick and Mortar
9234916Quitman Branch310 South Archusa Avenue, Quitman, MS 39355May 03, 1995Full Service Brick and Mortar
11234918Gateway Branch12139 Highway 63 South, Lucedale, MS 39452May 01, 1998Full Service Brick and Mortar
12363703Walmart Branch1350 Azalea Drive, Waynesboro, MS 39367April 10, 2002Full Service Retail
13420287Northeast Motor Bank Branch1401 Azalea Drive, Waynesboro, MS 39367August 19, 2003Full Service Brick and Mortar
18469436Meridian Clock Tower Branch801 22nd Avenue, Meridian, MS 39301December 03, 2007Full Service Brick and Mortar
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