Great Southern National Bank in Meridian, Mississippi (MS)

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Great Southern National Bank
GeneralFDIC Certificate #: 8552
Status: Active
Federal Reserve ID: 101738
Bank Holding Company (Regulatory Top Holder): Quitman Management Company, Inc. (RSSDID: 2907260, Location: Meridian, MS)
Date Established: March 02, 1902
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 15 (Domestic: 15, Interstate: No)
OTS Docket #: 11309
FDIC's unique #: 5458
Numeric code: 3
Regulator: OCC
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: No
Subchapter S Corporations: No
Asset Concentration Hierarchy: All Other Specialization < 1 Billion
Date of Deposit Insurance: January 01, 1934
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: 218 22nd Avenue South, Meridian, MS 39301
County: Lauderdale
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Jackson Ms
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: West
Core Based Statistical Area (CBSA): Meridian, MS (#32940)
CBSA Micro Statistical Area: Yes
History of ChangesChange in Location
Merge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $263.8 mil
Equity capital: $27.0 mil
Deposits held in domestic offices: $234.8 mil
Return on assets (ROA): 1.13% ($3.0 mil)
Quarterly return on assets: 1.23% ($3.2 mil)
Return on Equity (ROE): 11.34% ($3.1 mil)
Quarterly return on equity: 11.98% ($3.2 mil)
Net income: $3.0 mil
Quarterly Net income: $0.8 mil
Pretax return on assets: 1.63% ($4,300.5 mil)
Quarterly Pretax return on assets: 1.86% ($4,907.3 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)153
Total assets$263,833
Cash and due from depository institutions$27,642
Interest-bearing balances$21,523
Federal funds sold & reverse repurchase agreements$1,706
Net loans & leases$127,142
Loan loss allowance $1,866
Trading account assets$0
Bank premises and fixed assets$5,990
Other real estate owned$993
Goodwill and other intangibles$0
All other assets$3,186
Life insurance assets$263,833
Total liabilities and capital$236,805
Total liabilities$234,829
Total deposits$188,274
Interest-bearing deposits$234,829
Deposits held in domestic offices$88
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $1,976
All other liabilities $27,028
Total equity capital$27,028
Total bank equity capital$27,028
Perpetual preferred stock$0
Common stock$1,500
Undivided profits $17,978
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $236
Income earned, not collected on loans $1,069
Earning assets $0
Long-term assets (5+ years) $992
Average Assets, year-to-date $247,545
Average Assets, quarterly $99,986
Volatile liabilities $266,897
Insider loans $264,784
FHLB advances $131,874
Loans and leases held for sale $263,176
Unused loan commitments $371
Tier 1 (core) risk-based capital $371
Tier 2 risk-based capital $25,443
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $14,156
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $15,096
Total interest expense $1,437
Net interest income $13,659
Provision for loan and lease losses $494
Total noninterest income $2,698
Fiduciary activities $0
Service charges on deposit accounts $2,077
Trading account gains & fees $0
Additional noninterest income $621
Total noninterest expense $11,500
Salaries and employee benefits $7,532
Premises and equipment expense $1,606
Additional noninterest expense $2,362
Pre-tax net operating income $4,363
Securities gains (losses) $0
Applicable income taxes $1,360
Income before extraordinary items $3,003
Extraordinary gains - net $0
Net income attributable to bank $3,003
Net charge-offs $0
Cash dividends $3,003
Sale, conversion, retirement of capital stock, net $561
Net operating income $2,298
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.02%
Cost of funding earning assets 0.57%
Net interest margin 5.45%
Noninterest income to earning assets 1.08%
Noninterest expense to earning assets 4.59%
Net operating income to assets 1.13%
Return on assets (ROA) 1.13%
Pretax return on assets 1.63%
Return on equity (ROE) 11.34%
Retained earnings to average equity (YTD only) 2.66%
Net charge-offs to loans 0.42%
Credit loss provision to net charge-offs 88.06%
Efficiency ratio8.66%
Assets per employee$70,306
Cash dividends to net income (YTD only)1.72%
Condition Ratios (%)
Loss allowance to loans 76.52%
Loss allowance to noncurrent loans 1.45%
Noncurrent assets plus other real estate owned to assets 174.56%
Noncurrent loans to loans 0.78%
Net loans and leases to deposits0.83%
Net loans and leases to core deposits 54.14%
Equity capital to assets 56.10%
Core capital (leverage) ratio 10.24%
Tier 1 risk-based capital ratio 9.67%
Total risk-based capital ratio 19.29%
Average assets$21
Average earning assets$266,897
Average equity $26,484
Average loans $250,764
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15 Mississippi Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
05458Great Southern National Bank218 22nd Avenue South, Meridian, MS 39301March 02, 1902Full Service Brick and Mortar
1218703Pachuta BranchU.S. Highway 11, Pachuta, MS 39347January 02, 1973Full Service Brick and Mortar
2218704Enterprise BranchHighway 11 And State Street, Enterprise, MS 39330June 25, 1973Full Service Brick and Mortar
4218706Meridian North-Branch2441 North Hills Street, Meridian, MS 39305August 22, 1977Full Service Brick and Mortar
5218707West BranchHighway 11 South And Highway 19, Meridian, MS 39301June 21, 1979Full Service Brick and Mortar
613421Waynesboro Branch1010 Azalea Drive, Waynesboro, MS 39367August 23, 1966Full Service Brick and Mortar
716069Quitman Branch116 Archusa Avenue, Quitman, MS 39355October 01, 1979Full Service Brick and Mortar
1115668Hattiesburg Main Branch1300 Hardy Street, Hattiesburg, MS 39401June 10, 1977Full Service Brick and Mortar
12254662Northside BranchNorth Main Street At Glendale Road, Hattiesburg, MS 39401September 05, 1978Full Service Brick and Mortar
13254663University West Branch3902 Hardy Street, Hattiesburg, MS 39401December 05, 1980Full Service Brick and Mortar
14218708Bank Of Decatur Branch15122 Highway 15 South, Decatur, MS 39327June 27, 1986Full Service Brick and Mortar
17218711Medical Center Branch1219 22nd Avenue, Meridian, MS 39301November 19, 1990Full Service Brick and Mortar
18218712East River Branch860 East River Place, Suite 102, Jackson, MS 39205May 05, 1993Limited Service Loan Production
19218713West Branch6232 U.S. Highway 98, Hattiesburg, MS 39402October 01, 1997Full Service Brick and Mortar
20218714Bonita Lakes Branch1245 Bonita Lakes Circle, Meridian, MS 39301August 20, 1998Full Service Brick and Mortar
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