FDIC Certificate #: 9873 Status: Inactive Closing history: Corrections Acquiring institution:Herring Bank (#5568) Federal Reserve ID: 249555 Date Established: January 01, 1909 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Interstate: No) FDIC's unique #: 6314 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: July 31, 2009 Last Structure Change Process Date: August 03, 2009 Last Data Update: August 03, 2009 Data Source Date: April 05, 2012
Location
Address: 721 North Main Street, Altus, OK 73521 County: Jackson Quarterly Banking Profile Region: Dallas FDIC Geographic Region: Dallas FDIC Supervisory Region: Dallas FDIC Field Office: Oklahoma City Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: West Core Based Statistical Area (CBSA): Altus, OK (#11060) CBSA Micro Statistical Area: Yes
History of Changes
Absorption - Assisted
Corrections
Financial Summary
Total assets: $90.9 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2008)
Dollar figures in thousands
45Total employees (full-time equivalent)
$105,457Total assets
$3,474Cash and due from depository institutions
$12Interest-bearing balances
$12,585Securities
$538Federal funds sold & reverse repurchase agreements
$80,265Net loans & leases
$4,455Loan loss allowance
$0Trading account assets
$2,049Bank premises and fixed assets
$140Other real estate owned
$0Goodwill and other intangibles
$2,788Life insurance assets
$6,406All other assets
$105,457Total liabilities and capital
$99,962Total liabilities
$99,465Total deposits
$85,243Interest-bearing deposits
$99,465Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$497All other liabilities
$5,495Total equity capital
$5,495Total bank equity capital
$5,495Perpetual preferred stock
$0Common stock
$400Surplus
$1,400Undivided profits
Memoranda
$3,695Noncurrent loans and leases
$10,272Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$26,811Earning assets
$0Long-term assets (5+ years)
$2,512Average Assets, year-to-date
$93,400Average Assets, quarterly
$16,001Volatile liabilities
$117,973Insider loans
$109,295FHLB advances
$20,200Loans and leases held for sale
$10Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$10,272Total unused commitments
$0Restructured Loans and leases
$1,124Derivatives
Income and Expense (December 31, 2008)
Dollar figures in thousands
$6,092Total interest income
$2,896Total interest expense
$3,196Net interest income
$5,581Provision for loan and lease losses
$578Total noninterest income
$0Fiduciary activities
$772Service charges on deposit accounts
$0Trading account gains & fees
-$194Additional noninterest income
$3,342Total noninterest expense
$1,192Salaries and employee benefits
$412Premises and equipment expense
$1,738Additional noninterest expense
-$5,149Pre-tax net operating income
$60Securities gains (losses)
$0Applicable income taxes
-$5,089Income before extraordinary items
$0Extraordinary gains - net
-$5,089Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$1,898Sale, conversion, retirement of capital stock, net
$225Net operating income
Performance and Condition Ratios (December 31, 2008)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.78%Yield on earning assets
2.75%Cost of funding earning assets
3.03%Net interest margin
0.55%Noninterest income to earning assets
3.17%Noninterest expense to earning assets
-4.36%Net operating income to assets
-4.31%Return on assets (ROA)
-4.31%Pretax return on assets
-68.85%Return on equity (ROE)
-71.89%Retained earnings to average equity (YTD only)
2.18%Net charge-offs to loans
294.05%Credit loss provision to net charge-offs
0.23%Efficiency ratio
88,553Assets per employee
2.34%Cash dividends to net income (YTD only)
Condition Ratios (%)
-4.42%Loss allowance to loans
5.26%Loss allowance to noncurrent loans
16.62%Noncurrent assets plus other real estate owned to assets
25.56%Noncurrent loans to loans
31.65%Net loans and leases to deposits
80.70%Net loans and leases to core deposits
101.26%Equity capital to assets
5.21%Core capital (leverage) ratio
4.86%Tier 1 risk-based capital ratio
6.17%Total risk-based capital ratio
Memoranda
$7Average assets
$117,973Average earning assets
$7,391Average equity
$105,453Average loans
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