Magna Bank in Memphis, Tennessee (TN)

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Magna Bank
GeneralFDIC Certificate #: 34937
Status: Active
Federal Reserve ID: 2721176
Date Established: January 27, 1999
Trust Powers Granted: No
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Offices: 5 (Domestic: 5, Interstate: No)
OTS Docket #: 15525
FDIC's unique #: 62056
Numeric code: 33
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: 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: Commercial Lending Specialization
Date of Deposit Insurance: January 27, 1999
Last Structure Change Effective Date: July 21, 2011
Last Structure Change Process Date: July 21, 2011
Last Data Update: July 21, 2011
Data Source Date: April 05, 2012
LocationAddress: 6525 Quail Hollow Road, Memphis, TN 38120
County: Shelby
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Memphis
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Memphis, TN-AR-MS (#4920)
Core Based Statistical Area (CBSA): Memphis, TN-MS-AR (#32820)
CBSA Metro Statistical Area: Memphis, TN-MS-AR (#32820)
History of ChangesChange in Primary Regulatory Agency
Financial SummaryTotal assets: $440.6 mil
Equity capital: $61.2 mil
Deposits held in domestic offices: $330.4 mil
Return on assets (ROA): 0.58% ($2.6 mil)
Quarterly return on assets: 0.19% ($0.8 mil)
Return on Equity (ROE): 4.48% ($2.7 mil)
Quarterly return on equity: 1.35% ($0.8 mil)
Net income: $2.5 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 0.93% ($4,097.8 mil)
Quarterly Pretax return on assets: 0.30% ($1,321.9 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)143
Total assets$440,621
Cash and due from depository institutions$7,907
Interest-bearing balances$978
Federal funds sold & reverse repurchase agreements$19,101
Net loans & leases$338,733
Loan loss allowance $5,853
Trading account assets$0
Bank premises and fixed assets$4,236
Other real estate owned$6,121
Goodwill and other intangibles$9,290
All other assets$13,052
Life insurance assets$440,621
Total liabilities and capital$379,412
Total liabilities$330,385
Total deposits$293,766
Interest-bearing deposits$330,385
Deposits held in domestic offices$88
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$45,000
Other borrowed funds $0
Subordinated debt $4,027
All other liabilities $61,209
Total equity capital$61,209
Total bank equity capital$61,209
Perpetual preferred stock$18,350
Common stock$5,529
Undivided profits $5,564
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 $3,976
Earning assets $1,788
Long-term assets (5+ years) $1,452
Average Assets, year-to-date $400,993
Average Assets, quarterly $0
Volatile liabilities $430,241
Insider loans $445,656
FHLB advances $360,874
Loans and leases held for sale $441,185
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $61,773
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $84,009
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $18,800
Total interest expense $4,618
Net interest income $14,182
Provision for loan and lease losses $744
Total noninterest income $10,908
Fiduciary activities $0
Service charges on deposit accounts $333
Trading account gains & fees $0
Additional noninterest income $10,575
Total noninterest expense $20,198
Salaries and employee benefits $12,383
Premises and equipment expense $3,704
Additional noninterest expense $4,111
Pre-tax net operating income $4,148
Securities gains (losses) -$129
Applicable income taxes $1,540
Income before extraordinary items $2,479
Extraordinary gains - net $0
Net income attributable to bank $2,479
Net charge-offs $0
Cash dividends $2,479
Sale, conversion, retirement of capital stock, net -$582
Net operating income $636
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.83%
Cost of funding earning assets 1.19%
Net interest margin 3.64%
Noninterest income to earning assets 2.80%
Noninterest expense to earning assets 5.19%
Net operating income to assets 0.60%
Return on assets (ROA) 0.58%
Pretax return on assets 0.93%
Return on equity (ROE) 4.48%
Retained earnings to average equity (YTD only) 3.33%
Net charge-offs to loans -0.17%
Credit loss provision to net charge-offs -127.84%
Efficiency ratio0.00%
Assets per employee$80,502
Cash dividends to net income (YTD only)3.08%
Condition Ratios (%)
Loss allowance to loans 25.66%
Loss allowance to noncurrent loans 1.70%
Noncurrent assets plus other real estate owned to assets 147.21%
Noncurrent loans to loans 2.29%
Net loans and leases to deposits1.15%
Net loans and leases to core deposits 102.53%
Equity capital to assets 109.96%
Core capital (leverage) ratio 13.89%
Tier 1 risk-based capital ratio 14.00%
Total risk-based capital ratio 17.12%
Average assets$18
Average earning assets$430,241
Average equity $55,362
Average loans $389,280
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5 Tennessee Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
062056Magna Bank6525 Quail Hollow Road, Memphis, TN 38120January 27, 1999Full Service Brick and Mortar
3461759Germantown Pkwy Branch894 Germantown Pkwy, Suite 4, Cordova, TN 38018June 30, 2002Full Service Brick and Mortar
4492565Germantown Branch1264 Germantown Road, Germantown, TN 38138October 26, 2007Full Service Brick and Mortar
5492566Memphis Branch4445 Poplar Ave, Memphis, TN 38117March 24, 2008Full Service Brick and Mortar
6518104Germantown-Forrest Hill Branch9057 Poplar Avenue, Germantown, TN 38138August 12, 2008Full Service Brick and Mortar
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