Frontier Bank in Lagrange, Georgia (GA), AL

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Frontier Bank
GeneralFDIC Certificate #: 16431
Status: Active
Federal Reserve ID: 255136
Bank Holding Company (Regulatory Top Holder): Frontier National Corporation (RSSDID: 2600730, Location: Chelsea, AL)
Date Established: May 23, 1946
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 10 (Domestic: 10, Interstate: Yes)
OTS Docket #: 12268
FDIC's unique #: 10602
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 23, 1946
Last Structure Change Effective Date: Febuary 10, 2012
Last Structure Change Process Date: March 01, 2012
Last Data Update: March 01, 2012
Data Source Date: April 05, 2012
LocationAddress: 401 Vernon Street, Lagrange, GA 30240
County: Troup
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Atlanta
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Combined Statistical Area (CSA): Atlanta-Sandy Springs-Gainesville, GA-AL (#122)
Core Based Statistical Area (CBSA): LaGrange, GA (#29300)
CBSA Micro Statistical Area: Yes
Financial SummaryTotal assets: $297.8 mil
Equity capital: $6.6 mil
Deposits held in domestic offices: $253.4 mil
Return on assets (ROA): -6.44% (-$19.2 mil)
Quarterly return on assets: -23.34% (-$69.6 mil)
Return on Equity (ROE): -94.17% (-$6.6 mil)
Quarterly return on equity: -460.80% (-$32.3 mil)
Net income: -$20.1 mil
Quarterly Net income: -$18.0 mil
Pretax return on assets: -5.35% (-$15,934.3 mil)
Quarterly Pretax return on assets: -16.97% (-$50,543.1 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)101
Total assets$297,838
Cash and due from depository institutions$38,235
Interest-bearing balances$32,627
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$166,401
Loan loss allowance $5,963
Trading account assets$0
Bank premises and fixed assets$9,386
Other real estate owned$19,091
Goodwill and other intangibles$0
All other assets$12,663
Life insurance assets$297,838
Total liabilities and capital$291,230
Total liabilities$253,408
Total deposits$223,615
Interest-bearing deposits$253,408
Deposits held in domestic offices$91
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$37,068
Other borrowed funds $0
Subordinated debt $754
All other liabilities $6,608
Total equity capital$6,608
Total bank equity capital$6,608
Perpetual preferred stock$0
Common stock$124
Undivided profits $-9,158
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 $36,216
Earning assets $0
Long-term assets (5+ years) $1,181
Average Assets, year-to-date $251,090
Average Assets, quarterly $53,181
Volatile liabilities $312,668
Insider loans $308,441
FHLB advances $201,091
Loans and leases held for sale $314,369
Unused loan commitments $8,277
Tier 1 (core) risk-based capital $3,449
Tier 2 risk-based capital $6,307
Total risk weighted assets $0
Total unused commitments $4,828
Restructured Loans and leases $9,072
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $12,627
Total interest expense $4,283
Net interest income $8,344
Provision for loan and lease losses $14,518
Total noninterest income $1,572
Fiduciary activities $0
Service charges on deposit accounts $1,030
Trading account gains & fees $0
Additional noninterest income $542
Total noninterest expense $12,564
Salaries and employee benefits $4,846
Premises and equipment expense $1,224
Additional noninterest expense $6,494
Pre-tax net operating income -$17,166
Securities gains (losses) $435
Applicable income taxes $3,406
Income before extraordinary items -$20,137
Extraordinary gains - net $0
Net income attributable to bank -$20,137
Net charge-offs $0
Cash dividends -$20,137
Sale, conversion, retirement of capital stock, net $13,300
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.77%
Cost of funding earning assets 1.62%
Net interest margin 3.15%
Noninterest income to earning assets 0.59%
Noninterest expense to earning assets 4.74%
Net operating income to assets -6.58%
Return on assets (ROA) -6.44%
Pretax return on assets -5.35%
Return on equity (ROE) -94.17%
Retained earnings to average equity (YTD only) -94.17%
Net charge-offs to loans 6.83%
Credit loss provision to net charge-offs 109.16%
Efficiency ratio-0.20%
Assets per employee$110,418
Cash dividends to net income (YTD only)2.95%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 3.46%
Noncurrent assets plus other real estate owned to assets 16.47%
Noncurrent loans to loans 18.57%
Net loans and leases to deposits21.01%
Net loans and leases to core deposits 65.67%
Equity capital to assets 70.01%
Core capital (leverage) ratio 2.22%
Tier 1 risk-based capital ratio 2.01%
Total risk-based capital ratio 3.14%
Average assets$4
Average earning assets$312,668
Average equity $21,383
Average loans $264,788
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9 Alabama Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
41852Sylacauga Branch43 North Broadway Avenue, Sylacauga, AL 35150January 09, 1901Full Service Brick and Mortar
8361328Payton Branch135 James Patyon Boulevard, Sylacauga, AL 35150July 10, 2000Full Service Brick and Mortar
9238726Childersburg Branch120 8th Avenue, Childersburg, AL 35044Febuary 04, 1974Full Service Brick and Mortar
10238729Chelsea Branch16863 Us Highway 280, Chelsea, AL 35043Febuary 12, 1996Full Service Brick and Mortar
11249550Vincent Branch47-53 North Main Street, Vincent, AL 35178January 14, 2000Full Service Brick and Mortar
12238068Valley Branch3216 20th Avenue, Valley, AL 36854November 07, 1985Full Service Brick and Mortar
13360236Auburn Branch1678 South College Street, Auburn, AL 36830May 18, 2001Full Service Brick and Mortar
15455403Pelham Branch2723 Pelham Parkway, Pelham, AL 35124October 03, 2006Full Service Brick and Mortar
16492991Administrative Office Branch16863 U. S. Highway 280, Chelsea, AL 35043June 30, 2009Limited Service Administrative
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1 Georgia Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
010602Frontier Bank401 Vernon Street, Lagrange, GA 30240May 23, 1946Full Service Brick and Mortar
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