First State Bank in Franklin, Tennessee (TN)



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Table of contents:
First State Bank
GeneralFDIC Certificate #: 6105
Status: Inactive
Closing history: Change in Location
Acquiring institution: Farmers Bank and Trust Company (#1027)
Federal Reserve ID: 570857
Date Established: January 01, 1910
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 10 (Interstate: No)
OTS Docket #: 10730
FDIC's unique #: 4126
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: January 27, 2003
Last Structure Change Process Date: March 04, 2003
Last Data Update: March 04, 2003
Data Source Date: April 05, 2012
LocationAddress: 810 Crescent Centre Drive, Suite 170, Franklin, TN 37067
County: Williamson
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
Metropolitan Statistical Area (MSA): Nashville, TN (#5360)
Combined Statistical Area (CSA): Nashville-Davidson-Murfreesboro-Columbia, TN (#400)
Core Based Statistical Area (CBSA): Nashville-Davidson-Murfreesboro-Franklin, TN (#34980)
CBSA Metro Statistical Area: Nashville-Davidson-Murfreesboro-Franklin, TN (#34980)
History of ChangesMerger - Without Assistance
Change in Location
Financial SummaryTotal assets: $284.3 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, 2002)
(Dollar figures in thousands)
Total employees (full-time equivalent)106
Total assets$284,345
Cash and due from depository institutions$11,558
Interest-bearing balances$4,123
Securities$50,789
Federal funds sold & reverse repurchase agreements$7,094
Net loans & leases$184,689
Loan loss allowance $4,328
Trading account assets$0
Bank premises and fixed assets$10,010
Other real estate owned$140
Goodwill and other intangibles$0
All other assets$20,065
Life insurance assets$0
Total liabilities and capital$284,345
Total liabilities$260,158
Total deposits$239,287
Interest-bearing deposits$218,671
Deposits held in domestic offices$239,287
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $4,103
Trading liabilities$0
Other borrowed funds $14,959
Subordinated debt $0
All other liabilities $1,809
Total equity capital$24,187
Total bank equity capital$24,187
Perpetual preferred stock$24,187
Common stock$0
Surplus$200
Undivided profits $9,069
Memoranda
Noncurrent loans and leases $14,918
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $32,282
Income earned, not collected on loans $0
Earning assets $2,234
Long-term assets (5+ years) $0
Average Assets, year-to-date $1,906
Average Assets, quarterly $246,695
Volatile liabilities $27,008
Insider loans $282,845
FHLB advances $281,917
Loans and leases held for sale $53,167
Unused loan commitments $18,271
Tier 1 (core) risk-based capital $14,959
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $32,282
Restructured Loans and leases $3,455
Derivatives$2,667
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Income and Expense (December 31, 2002)
(Dollar figures in thousands)
Total interest income $16,127
Total interest expense $7,567
Net interest income $8,560
Provision for loan and lease losses $1,210
Total noninterest income $2,152
Fiduciary activities $0
Service charges on deposit accounts $1,366
Trading account gains & fees $0
Additional noninterest income $786
Total noninterest expense $9,023
Salaries and employee benefits $4,313
Premises and equipment expense $1,472
Additional noninterest expense $3,238
Pre-tax net operating income $479
Securities gains (losses) $78
Applicable income taxes $139
Income before extraordinary items $418
Extraordinary gains - net $0
Net income attributable to bank $418
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $961
Net operating income $0
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Performance and Condition Ratios (December 31, 2002)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.50%
Cost of funding earning assets 3.05%
Net interest margin 3.45%
Noninterest income to earning assets 0.87%
Noninterest expense to earning assets 3.64%
Net operating income to assets 0.13%
Return on assets (ROA) 0.15%
Pretax return on assets 0.20%
Return on equity (ROE) 1.78%
Retained earnings to average equity (YTD only) 1.78%
Net charge-offs to loans 0.53%
Credit loss provision to net charge-offs 125.91%
Efficiency ratio1.76%
Assets per employee$84,233
Cash dividends to net income (YTD only)2.68%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.29%
Noncurrent assets plus other real estate owned to assets 193.73%
Noncurrent loans to loans 0.83%
Net loans and leases to deposits1.18%
Net loans and leases to core deposits 77.18%
Equity capital to assets 93.10%
Core capital (leverage) ratio 8.51%
Tier 1 risk-based capital ratio 8.41%
Total risk-based capital ratio 11.19%
Memoranda
Average assets$12
Average earning assets$282,845
Average equity $23,546
Average loans $247,931
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