Pacesetter Bank in Hartford City, Indiana (IN)

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Pacesetter Bank
GeneralFDIC Certificate #: 19340
Status: Active
Federal Reserve ID: 242248
Bank Holding Company (Regulatory Top Holder): Town Financial Corporation (RSSDID: 1200405, Location: Hartford City, IN)
Date Established: January 04, 1965
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 7 (Domestic: 7, Interstate: No)
OTS Docket #: 11736
FDIC's unique #: 13151
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: January 04, 1965
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: 1515 North Walnut Street, Hartford City, IN 47348
County: Blackford
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Indianapolis
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $114.7 mil
Equity capital: $13.7 mil
Deposits held in domestic offices: $100.4 mil
Return on assets (ROA): 0.45% ($0.5 mil)
Quarterly return on assets: 0.27% ($0.3 mil)
Return on Equity (ROE): 3.73% ($0.5 mil)
Quarterly return on equity: 2.25% ($0.3 mil)
Net income: $0.5 mil
Quarterly Net income: $0.1 mil
Pretax return on assets: 0.64% ($734.2 mil)
Quarterly Pretax return on assets: 0.34% ($390.0 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)46
Total assets$114,713
Cash and due from depository institutions$12,926
Interest-bearing balances$7,006
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$75,404
Loan loss allowance $1,062
Trading account assets$0
Bank premises and fixed assets$1,739
Other real estate owned$115
Goodwill and other intangibles$0
All other assets$5,209
Life insurance assets$114,713
Total liabilities and capital$101,032
Total liabilities$100,417
Total deposits$82,589
Interest-bearing deposits$100,417
Deposits held in domestic offices$96
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $615
All other liabilities $13,681
Total equity capital$13,681
Total bank equity capital$13,681
Perpetual preferred stock$0
Common stock$830
Undivided profits $10,751
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 $989
Earning assets $0
Long-term assets (5+ years) $414
Average Assets, year-to-date $101,730
Average Assets, quarterly $38,168
Volatile liabilities $112,292
Insider loans $113,579
FHLB advances $72,240
Loans and leases held for sale $114,577
Unused loan commitments $3,583
Tier 1 (core) risk-based capital $3,583
Tier 2 risk-based capital $13,583
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $14,972
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $4,826
Total interest expense $689
Net interest income $4,137
Provision for loan and lease losses $380
Total noninterest income $1,165
Fiduciary activities $27
Service charges on deposit accounts $470
Trading account gains & fees $0
Additional noninterest income $668
Total noninterest expense $4,198
Salaries and employee benefits $1,916
Premises and equipment expense $495
Additional noninterest expense $1,787
Pre-tax net operating income $724
Securities gains (losses) $0
Applicable income taxes $217
Income before extraordinary items $507
Extraordinary gains - net $0
Net income attributable to bank $507
Net charge-offs $0
Cash dividends $507
Sale, conversion, retirement of capital stock, net $257
Net operating income $331
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.78%
Cost of funding earning assets 0.68%
Net interest margin 4.10%
Noninterest income to earning assets 1.15%
Noninterest expense to earning assets 4.16%
Net operating income to assets 0.45%
Return on assets (ROA) 0.45%
Pretax return on assets 0.64%
Return on equity (ROE) 3.73%
Retained earnings to average equity (YTD only) 1.30%
Net charge-offs to loans 0.34%
Credit loss provision to net charge-offs 147.86%
Efficiency ratio4.30%
Assets per employee$79,178
Cash dividends to net income (YTD only)2.49%
Condition Ratios (%)
Loss allowance to loans 65.29%
Loss allowance to noncurrent loans 1.39%
Noncurrent assets plus other real estate owned to assets 107.38%
Noncurrent loans to loans 0.96%
Net loans and leases to deposits1.29%
Net loans and leases to core deposits 75.09%
Equity capital to assets 77.25%
Core capital (leverage) ratio 11.93%
Tier 1 risk-based capital ratio 11.85%
Total risk-based capital ratio 18.80%
Average assets$20
Average earning assets$112,292
Average equity $13,575
Average loans $100,927
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$4,121
Number of Accounts1
Personal trust and agency accounts$2,050
Employee benefit-defined contribution accounts$1,908
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$142
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts45
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$2,071
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$1,014
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7 Indiana Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
013151Pacesetter Bank1515 North Walnut Street, Hartford City, IN 47348January 04, 1965Full Service Brick and Mortar
4277575714 North Main Street Branch714 North Main Street, Dunkirk, IN 47336January 01, 1919Full Service Brick and Mortar
5277576204 West Oak Street Branch204 West Oak Street, Union City, IN 47390January 01, 1919Full Service Brick and Mortar
6277577106 East Berry Street Branch106 East Berry Street, Upland, IN 46989January 01, 1919Full Service Brick and Mortar
7277578Washington Street Branch222 West Washington Street, Hartford City, IN 47348April 07, 1997Limited Service Facility
89973110 South Main Street Branch110 South Main Street, Montpelier, IN 47359December 20, 1939Full Service Brick and Mortar
9235061North Meridan Street Branch1221 North Meridan Street, Portland, IN 47371March 07, 1990Full Service Brick and Mortar
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