McKenzie Banking Company in Mc Kenzie, Tennessee (TN)
Overview, Financial Summary, Detailed Financial Reports, Branches

McKenzie Banking Company - Overview

  • General
  • FDIC Certificate #: 13955
    Status: Active
    Federal Reserve ID: 480853
    Bank Holding Company (Regulatory Top Holder): Progressive Financial Services, Inc. (RSSDID: 1135280, Location: Mckenzie, TN)
    Date Established: Febuary 28, 1934
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 9 (Domestic: 9, Interstate: No)
    OTS Docket #: 9201
    FDIC's unique #: 8729
    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: No
    Asset Concentration Hierarchy: All Other Specialization < 1 Billion
    Date of Deposit Insurance: Febuary 28, 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
  • Location
  • Address: 676 North Main Street, Mc Kenzie, TN 38201
    County: Carroll
    Quarterly Banking Profile Region: Dallas
    FDIC Geographic Region: Dallas
    FDIC Supervisory Region: Dallas
    FDIC Field Office: Nashville
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $117.6 mil
    Equity capital: $15.9 mil
    Deposits held in domestic offices: $101.2 mil
    Return on assets (ROA): 0.97% ($1.1 mil)
    Quarterly return on assets: 0.94% ($1.1 mil)
    Return on Equity (ROE): 7.56% ($1.2 mil)
    Quarterly return on equity: 7.01% ($1.1 mil)
    Net income: $1.1 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 1.57% ($1,846.7 mil)
    Quarterly Pretax return on assets: 1.39% ($1,634.9 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
  • 82Total employees (full-time equivalent)
  • $117,622Total assets
  • $54,892Cash and due from depository institutions
  • $51,904Interest-bearing balances
  • $3,474Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $53,295Net loans & leases
  • $1,530Loan loss allowance
  • $0Trading account assets
  • $2,901Bank premises and fixed assets
  • $1,730Other real estate owned
  • $0Goodwill and other intangibles
  • $117,622Life insurance assets
  • $1,330All other assets
  • $101,683Total liabilities and capital
  • $101,199Total liabilities
  • $77,385Total deposits
  • $101,199Interest-bearing deposits
  • $96Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $11Trading liabilities
  • $0Other borrowed funds
  • $473Subordinated debt
  • $15,939All other liabilities
  • $15,939Total equity capital
  • $15,939Total bank equity capital
  • $0Perpetual preferred stock
  • $250Common stock
  • $1,122Surplus
  • $14,567Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $4,169Income earned, not collected on loans
  • $0Earning assets
  • $454Long-term assets (5+ years)
  • $108,673Average Assets, year-to-date
  • $21,778Average Assets, quarterly
  • $116,833Volatile liabilities
  • $117,866Insider loans
  • $58,347FHLB advances
  • $117,876Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $15,866Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $1,805Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,997Total interest income
  • $672Total interest expense
  • $5,325Net interest income
  • $361Provision for loan and lease losses
  • $2,176Total noninterest income
  • $0Fiduciary activities
  • $1,169Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,007Additional noninterest income
  • $5,311Total noninterest expense
  • $3,240Salaries and employee benefits
  • $648Premises and equipment expense
  • $1,423Additional noninterest expense
  • $1,829Pre-tax net operating income
  • $0Securities gains (losses)
  • $691Applicable income taxes
  • $1,138Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,138Net income attributable to bank
  • $0Net charge-offs
  • $1,138Cash dividends
  • $336Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.51%Yield on earning assets
  • 0.62%Cost of funding earning assets
  • 4.89%Net interest margin
  • 2.00%Noninterest income to earning assets
  • 4.88%Noninterest expense to earning assets
  • 0.97%Net operating income to assets
  • 0.97%Return on assets (ROA)
  • 1.57%Pretax return on assets
  • 7.56%Return on equity (ROE)
  • 7.56%Retained earnings to average equity (YTD only)
  • 0.60%Net charge-offs to loans
  • 107.44%Credit loss provision to net charge-offs
  • 6.52%Efficiency ratio
  • 70,804Assets per employee
  • 1.43%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.79%Loss allowance to noncurrent loans
  • 36.70%Noncurrent assets plus other real estate owned to assets
  • 5.02%Noncurrent loans to loans
  • 7.60%Net loans and leases to deposits
  • 52.66%Net loans and leases to core deposits
  • 53.09%Equity capital to assets
  • 13.55%Core capital (leverage) ratio
  • 13.46%Tier 1 risk-based capital ratio
  • 27.19%Total risk-based capital ratio
  • Memoranda
  • $28Average assets
  • $116,833Average earning assets
  • $15,059Average equity
  • $108,815Average loans

List of branches

  • 9 Tennessee Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    08729Mckenzie Banking Company676 North Main Street, Mc Kenzie, TN 38201Febuary 28, 1934Full Service Brick and Mortar
    1230690Drive-In Branch15345 Highland Drive, Mckenzie, TN 38201September 22, 1967Limited Service Facility
    2230691Foundation Bank, A Division Of Mckenzie Banking Company1137 East Wood Street, Paris, TN 38242Febuary 16, 1988Full Service Brick and Mortar
    3418815Foundation Bank, A Division Of Mckenzie Banking Company9 North Bells Street, Alamo, TN 38001March 24, 2003Full Service Brick and Mortar
    4419050Foundation Bank, A Division Of Mckenzie Banking Company1467 West Church Street, Alamo, TN 38001May 01, 2003Limited Service Facility
    5441647Foundation Bank, A Division Of Mckenzie Banking Company, Loan Production Office384a Carriage House Drive, Jackson, TN 38305January 03, 2005Limited Service Loan Production
    6456475Foundation Bank, A Division Of Mckenzie Banking Company1049 Union University Drive, Jackson, TN 38305October 31, 2006Full Service Brick and Mortar
    8468519Foundation Bank, A Division Of Mckenzie Banking Company14201 Highway 79 North, Suite E, Eagle Creek Plaza, Buchanan, TN 38222October 15, 2007Full Service Brick and Mortar
    9468830Foundation Bank, A Division Of Mckenzie Banking Company224 South Seventh Street, Obion, TN 38240October 09, 2007Full Service Brick and Mortar

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