Grand Savings Bank in Grove, Oklahoma (OK)



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Grand Savings Bank
GeneralFDIC Certificate #: 32084
Status: Active
Federal Reserve ID: 732178
Bank Holding Company (Regulatory Top Holder): Peterson Holding Company (RSSDID: 1845619, Location: Decatur, AR)
Date Established: April 10, 1981
WWW: http://www.grandsavingsbank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Domestic: 2, Interstate: No)
OTS Docket #: 7832
FDIC's unique #: 44918
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: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: April 10, 1981
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
LocationAddress: 1022 South Main Street, Grove, OK 74344
County: Delaware
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Tulsa
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: West
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $233.4 mil
Equity capital: $21.4 mil
Deposits held in domestic offices: $198.9 mil
Return on assets (ROA): 0.85% ($2.0 mil)
Quarterly return on assets: 1.78% ($4.1 mil)
Return on Equity (ROE): 9.37% ($2.0 mil)
Quarterly return on equity: 19.77% ($4.2 mil)
Net income: $2.0 mil
Quarterly Net income: $1.0 mil
Pretax return on assets: 0.85% ($1,983.7 mil)
Quarterly Pretax return on assets: 1.78% ($4,154.1 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)70
Total assets$233,379
Cash and due from depository institutions$23,839
Interest-bearing balances$21,081
Securities$7,977
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$190,924
Loan loss allowance $3,682
Trading account assets$0
Bank premises and fixed assets$6,382
Other real estate owned$1,123
Goodwill and other intangibles$0
All other assets$3,134
Life insurance assets$233,379
Total liabilities and capital$212,022
Total liabilities$198,910
Total deposits$173,356
Interest-bearing deposits$198,910
Deposits held in domestic offices$81
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$12,878
Other borrowed funds $0
Subordinated debt $234
All other liabilities $21,357
Total equity capital$21,357
Total bank equity capital$21,357
Perpetual preferred stock$2,000
Common stock$3,058
Surplus$2,333
Undivided profits $13,966
Memoranda
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 $3,491
Earning assets $0
Long-term assets (5+ years) $1,014
Average Assets, year-to-date $219,982
Average Assets, quarterly $112,146
Volatile liabilities $231,239
Insider loans $231,199
FHLB advances $186,138
Loans and leases held for sale $230,843
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $21,327
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $5,065
Derivatives$320
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $13,484
Total interest expense $2,713
Net interest income $10,771
Provision for loan and lease losses $2,834
Total noninterest income $1,274
Fiduciary activities $0
Service charges on deposit accounts $1,109
Trading account gains & fees $0
Additional noninterest income $165
Total noninterest expense $7,256
Salaries and employee benefits $3,664
Premises and equipment expense $1,343
Additional noninterest expense $2,249
Pre-tax net operating income $1,955
Securities gains (losses) $0
Applicable income taxes $0
Income before extraordinary items $1,955
Extraordinary gains - net $0
Net income attributable to bank $1,955
Net charge-offs $0
Cash dividends $1,955
Sale, conversion, retirement of capital stock, net $1,774
Net operating income $1,871
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.19%
Cost of funding earning assets 1.25%
Net interest margin 4.95%
Noninterest income to earning assets 0.58%
Noninterest expense to earning assets 3.33%
Net operating income to assets 0.85%
Return on assets (ROA) 0.85%
Pretax return on assets 0.85%
Return on equity (ROE) 9.37%
Retained earnings to average equity (YTD only) 0.40%
Net charge-offs to loans 0.89%
Credit loss provision to net charge-offs 159.75%
Efficiency ratio2.70%
Assets per employee$60,241
Cash dividends to net income (YTD only)3.33%
Condition Ratios (%)
Loss allowance to loans 95.70%
Loss allowance to noncurrent loans 1.89%
Noncurrent assets plus other real estate owned to assets 105.47%
Noncurrent loans to loans 1.98%
Net loans and leases to deposits1.79%
Net loans and leases to core deposits 95.99%
Equity capital to assets 113.40%
Core capital (leverage) ratio 9.15%
Tier 1 risk-based capital ratio 9.24%
Total risk-based capital ratio 11.46%
Memoranda
Average assets$13
Average earning assets$231,239
Average equity $20,856
Average loans $217,812
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2 Oklahoma Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
044918Grand Savings Bank1022 South Main Street, Grove, OK 74344April 10, 1981Full Service Brick and Mortar
100286754Jay Branch1222 North Main Street, Jay, OK 74346April 10, 1981Full Service Brick and Mortar
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