First State Bank in Socorro, New Mexico (NM)
Overview, Financial Summary, Detailed Financial Reports, Branches


First State Bank - Overview

  • General
  • FDIC Certificate #: 16600
    Status: Active
    Federal Reserve ID: 497655
    Bank Holding Company (Regulatory Top Holder): Bbs Corp. (RSSDID: 2049142, Location: Socorro, NM)
    Date Established: July 01, 1947
    WWW: http://www.socorrobanking.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    FDIC's unique #: 10743
    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: Other Specialized Lending < 1 Billion
    Date of Deposit Insurance: July 01, 1947
    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
  • Location
  • Address: 103 Manzanares Avenue, Socorro, NM 87801
    County: Socorro
    Quarterly Banking Profile Region: Dallas
    FDIC Geographic Region: Dallas
    FDIC Supervisory Region: Dallas
    FDIC Field Office: Albuquerque
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: West
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $119.4 mil
    Equity capital: $11.5 mil
    Deposits held in domestic offices: $107.7 mil
    Return on assets (ROA): 0.95% ($1.1 mil)
    Quarterly return on assets: 0.98% ($1.2 mil)
    Return on Equity (ROE): 10.43% ($1.1 mil)
    Quarterly return on equity: 10.51% ($1.2 mil)
    Net income: $1.1 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 1.37% ($1,635.5 mil)
    Quarterly Pretax return on assets: 1.46% ($1,742.9 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
  • 31Total employees (full-time equivalent)
  • $119,380Total assets
  • $8,153Cash and due from depository institutions
  • $4,997Interest-bearing balances
  • $93,067Securities
  • $273Federal funds sold & reverse repurchase agreements
  • $12,818Net loans & leases
  • $706Loan loss allowance
  • $0Trading account assets
  • $3,319Bank premises and fixed assets
  • $7Other real estate owned
  • $0Goodwill and other intangibles
  • $119,380Life insurance assets
  • $1,743All other assets
  • $107,881Total liabilities and capital
  • $107,707Total liabilities
  • $104,652Total deposits
  • $107,707Interest-bearing deposits
  • $50Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $174Subordinated debt
  • $11,499All other liabilities
  • $11,499Total equity capital
  • $11,499Total bank equity capital
  • $0Perpetual preferred stock
  • $1,150Common stock
  • $4,850Surplus
  • $5,499Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $172Income earned, not collected on loans
  • $0Earning assets
  • $1,199Long-term assets (5+ years)
  • $111,155Average Assets, year-to-date
  • $77,429Average Assets, quarterly
  • $121,261Volatile liabilities
  • $121,656Insider loans
  • $30,770FHLB advances
  • $122,347Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $11,474Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $2,013Restructured Loans and leases
  • $10Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,506Total interest income
  • $235Total interest expense
  • $5,271Net interest income
  • $30Provision for loan and lease losses
  • $650Total noninterest income
  • $0Fiduciary activities
  • $189Service charges on deposit accounts
  • $0Trading account gains & fees
  • $461Additional noninterest income
  • $4,227Total noninterest expense
  • $1,763Salaries and employee benefits
  • $810Premises and equipment expense
  • $1,654Additional noninterest expense
  • $1,664Pre-tax net operating income
  • $0Securities gains (losses)
  • $514Applicable income taxes
  • $1,150Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,150Net income attributable to bank
  • $0Net charge-offs
  • $1,150Cash dividends
  • $22Sale, conversion, retirement of capital stock, net
  • $460Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.86%Yield on earning assets
  • 0.21%Cost of funding earning assets
  • 4.65%Net interest margin
  • 0.57%Noninterest income to earning assets
  • 3.73%Noninterest expense to earning assets
  • 0.95%Net operating income to assets
  • 0.95%Return on assets (ROA)
  • 1.37%Pretax return on assets
  • 10.43%Return on equity (ROE)
  • 6.26%Retained earnings to average equity (YTD only)
  • 0.15%Net charge-offs to loans
  • 136.36%Credit loss provision to net charge-offs
  • 77.00%Efficiency ratio
  • 71,390Assets per employee
  • 3.85%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 40.00%Loss allowance to loans
  • 5.22%Loss allowance to noncurrent loans
  • 410.47%Noncurrent assets plus other real estate owned to assets
  • 0.15%Noncurrent loans to loans
  • 1.27%Net loans and leases to deposits
  • 11.90%Net loans and leases to core deposits
  • 12.78%Equity capital to assets
  • 9.63%Core capital (leverage) ratio
  • 9.38%Tier 1 risk-based capital ratio
  • 37.29%Total risk-based capital ratio
  • Memoranda
  • $39Average assets
  • $121,261Average earning assets
  • $11,030Average equity
  • $113,303Average loans

List of branches

  • 3 New Mexico Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    010743First State Bank103 Manzanares Avenue, Socorro, NM 87801July 01, 1947Full Service Brick and Mortar
    1238435Reserve BranchMain Street, Reserve, NM 87830January 08, 1986Limited Service Facility
    2238436Motor Facility200 California Street, Socorro, NM 87801January 08, 1986Limited Service Facility

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