Frontier National Bank in Sylacauga, Alabama (AL)



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Frontier National Bank
GeneralFDIC Certificate #: 2831
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Frontier Bank (#16431)
Federal Reserve ID: 255136
Date Established: January 09, 1901
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 11 (Interstate: No)
OTS Docket #: 11838
FDIC's unique #: 1852
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: No
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: December 16, 2002
Last Structure Change Process Date: January 03, 2003
Last Data Update: January 03, 2003
Data Source Date: April 05, 2012
LocationAddress: 43 North Broadway Avenue, Sylacauga, AL 35150
County: Talladega
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Shelby
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Core Based Statistical Area (CBSA): Talladega-Sylacauga, AL (#45180)
CBSA Micro Statistical Area: Yes
Financial SummaryTotal assets: $283.8 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, 2001)
(Dollar figures in thousands)
Total employees (full-time equivalent)99
Total assets$182,774
Cash and due from depository institutions$6,460
Interest-bearing balances$90
Securities$23,942
Federal funds sold & reverse repurchase agreements$6,296
Net loans & leases$129,581
Loan loss allowance $1,600
Trading account assets$0
Bank premises and fixed assets$7,095
Other real estate owned$81
Goodwill and other intangibles$1,963
All other assets$7,356
Life insurance assets$0
Total liabilities and capital$182,774
Total liabilities$167,340
Total deposits$143,668
Interest-bearing deposits$120,802
Deposits held in domestic offices$143,668
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $21,627
Subordinated debt $0
All other liabilities $2,045
Total equity capital$15,434
Total bank equity capital$15,434
Perpetual preferred stock$15,434
Common stock$0
Surplus$150
Undivided profits $8,662
Memoranda
Noncurrent loans and leases $6,622
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $19,781
Income earned, not collected on loans $0
Earning assets $2,081
Long-term assets (5+ years) $0
Average Assets, year-to-date $1,300
Average Assets, quarterly $159,909
Volatile liabilities $23,351
Insider loans $160,917
FHLB advances $182,241
Loans and leases held for sale $29,352
Unused loan commitments $3,257
Tier 1 (core) risk-based capital $21,592
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $19,781
Restructured Loans and leases $42
Derivatives$1,600
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Income and Expense (December 31, 2001)
(Dollar figures in thousands)
Total interest income $11,779
Total interest expense $5,854
Net interest income $5,925
Provision for loan and lease losses $167
Total noninterest income $2,385
Fiduciary activities $0
Service charges on deposit accounts $814
Trading account gains & fees $0
Additional noninterest income $1,571
Total noninterest expense $5,379
Salaries and employee benefits $2,971
Premises and equipment expense $728
Additional noninterest expense $1,680
Pre-tax net operating income $2,764
Securities gains (losses) $250
Applicable income taxes $893
Income before extraordinary items $2,121
Extraordinary gains - net $0
Net income attributable to bank $2,121
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $75
Net operating income $2,003
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Performance and Condition Ratios (December 31, 2001)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets8.27%
Cost of funding earning assets 4.11%
Net interest margin 4.16%
Noninterest income to earning assets 1.67%
Noninterest expense to earning assets 3.78%
Net operating income to assets 1.21%
Return on assets (ROA) 1.32%
Pretax return on assets 1.87%
Return on equity (ROE) 15.14%
Retained earnings to average equity (YTD only) 0.84%
Net charge-offs to loans 0.07%
Credit loss provision to net charge-offs 222.67%
Efficiency ratio39.08%
Assets per employee$63,201
Cash dividends to net income (YTD only)1.85%
Condition Ratios (%)
Loss allowance to loans 94.44%
Loss allowance to noncurrent loans 1.22%
Noncurrent assets plus other real estate owned to assets 76.89%
Noncurrent loans to loans 1.18%
Net loans and leases to deposits1.59%
Net loans and leases to core deposits 90.19%
Equity capital to assets 113.35%
Core capital (leverage) ratio 8.44%
Tier 1 risk-based capital ratio 7.53%
Total risk-based capital ratio 9.54%
Memoranda
Average assets$11
Average earning assets$160,917
Average equity $14,010
Average loans $142,392
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