Madison Bank in Richmond, Kentucky (KY)



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Madison Bank
GeneralFDIC Certificate #: 34306
Status: Active
Federal Reserve ID: 2552099
Bank Holding Company (Regulatory Top Holder): Madison Financial Corporation (RSSDID: 2747260, Location: Richmond, KY)
Date Established: March 11, 1997
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 5 (Domestic: 5, Interstate: No)
FDIC's unique #: 57065
Numeric code: 13
Regulator: FED
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: March 11, 1997
Last Structure Change Effective Date: April 18, 2011
Last Structure Change Process Date: April 19, 2011
Last Data Update: April 19, 2011
Data Source Date: April 05, 2012
LocationAddress: 1001 Gibson Bay Drive, Suite 101, Richmond, KY 40476
County: Madison
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Lexington
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Lexington, KY (#4280)
Combined Statistical Area (CSA): Lexington-Fayette-Frankfort-Richmond, KY (#336)
Core Based Statistical Area (CBSA): Richmond-Berea, KY (#40080)
CBSA Micro Statistical Area: Yes
Financial SummaryTotal assets: $136.3 mil
Equity capital: $12.5 mil
Deposits held in domestic offices: $112.9 mil
Return on assets (ROA): -0.45% (-$0.6 mil)
Quarterly return on assets: -0.64% (-$0.9 mil)
Return on Equity (ROE): -5.07% (-$0.6 mil)
Quarterly return on equity: -6.96% (-$0.8 mil)
Net income: -$0.6 mil
Quarterly Net income: -$0.2 mil
Pretax return on assets: -0.67% (-$913.0 mil)
Quarterly Pretax return on assets: -0.95% (-$1,294.5 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)50
Total assets$136,265
Cash and due from depository institutions$13,207
Interest-bearing balances$9,393
Securities$16,419
Federal funds sold & reverse repurchase agreements$15,408
Net loans & leases$82,554
Loan loss allowance $2,080
Trading account assets$0
Bank premises and fixed assets$1,669
Other real estate owned$4,081
Goodwill and other intangibles$75
All other assets$2,852
Life insurance assets$136,265
Total liabilities and capital$123,813
Total liabilities$112,947
Total deposits$93,129
Interest-bearing deposits$112,947
Deposits held in domestic offices$88
% insured (estimated)5400.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$5,000
Other borrowed funds $0
Subordinated debt $466
All other liabilities $12,452
Total equity capital$12,452
Total bank equity capital$12,452
Perpetual preferred stock$0
Common stock$2,239
Surplus$7,778
Undivided profits $2,435
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 $2,873
Earning assets $0
Long-term assets (5+ years) $388
Average Assets, year-to-date $123,774
Average Assets, quarterly $36,229
Volatile liabilities $144,076
Insider loans $137,442
FHLB advances $85,400
Loans and leases held for sale $136,992
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $12,033
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $11,914
Derivatives$2,808
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $6,044
Total interest expense $1,264
Net interest income $4,780
Provision for loan and lease losses $850
Total noninterest income $1,502
Fiduciary activities $0
Service charges on deposit accounts $628
Trading account gains & fees $0
Additional noninterest income $874
Total noninterest expense $6,592
Salaries and employee benefits $2,793
Premises and equipment expense $1,067
Additional noninterest expense $2,732
Pre-tax net operating income -$1,160
Securities gains (losses) $188
Applicable income taxes -$327
Income before extraordinary items -$645
Extraordinary gains - net $0
Net income attributable to bank -$645
Net charge-offs $0
Cash dividends -$645
Sale, conversion, retirement of capital stock, net $971
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 assets4.64%
Cost of funding earning assets 0.97%
Net interest margin 3.67%
Noninterest income to earning assets 1.15%
Noninterest expense to earning assets 5.06%
Net operating income to assets -0.53%
Return on assets (ROA) -0.45%
Pretax return on assets -0.67%
Return on equity (ROE) -5.07%
Retained earnings to average equity (YTD only) -5.07%
Net charge-offs to loans 1.07%
Credit loss provision to net charge-offs 87.54%
Efficiency ratio-0.32%
Assets per employee$104,935
Cash dividends to net income (YTD only)2.73%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.46%
Noncurrent assets plus other real estate owned to assets 72.40%
Noncurrent loans to loans 5.10%
Net loans and leases to deposits3.39%
Net loans and leases to core deposits 73.09%
Equity capital to assets 85.94%
Core capital (leverage) ratio 9.14%
Tier 1 risk-based capital ratio 8.78%
Total risk-based capital ratio 14.09%
Memoranda
Average assets$15
Average earning assets$144,076
Average equity $12,730
Average loans $130,251
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5 Kentucky Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
057065Madison Bank1001 Gibson Bay Drive, Suite 101, Richmond, KY 40476March 11, 1997Full Service Brick and Mortar
2334359West Main Street Branch724 West Main Street, Richmond, KY 40475April 18, 2000Full Service Brick and Mortar
4434077Berea Branch235 Glades Road, Berea, KY 40403December 29, 2004Full Service Brick and Mortar
5470828University Shopping Center Branch660 University Shopping Center, Richmond, KY 40475January 04, 2008Full Service Brick and Mortar
6480386201 West Main Street Branch201 West Main Street, Richmond, KY 40475August 11, 2008Full Service Brick and Mortar
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