Patriot Bank in Millington, Tennessee (TN)



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Patriot Bank
GeneralFDIC Certificate #: 57416
Status: Active
Federal Reserve ID: 3120646
Bank Holding Company (Regulatory Top Holder): Security Bancorp Of Tennessee, Inc. (RSSDID: 1135374, Location: Halls, TN)
Date Established: October 09, 2002
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 #: 363408
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: October 09, 2002
Last Structure Change Effective Date: May 20, 2006
Last Structure Change Process Date: May 26, 2006
Last Data Update: May 26, 2006
Data Source Date: April 05, 2012
LocationAddress: 8376 Highway 51 North, Millington, TN 38053
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 ChangesOffice Purchased
Financial SummaryTotal assets: $246.7 mil
Equity capital: $21.2 mil
Deposits held in domestic offices: $216.6 mil
Return on assets (ROA): 0.89% ($2.2 mil)
Quarterly return on assets: 0.74% ($1.8 mil)
Return on Equity (ROE): 10.32% ($2.2 mil)
Quarterly return on equity: 8.39% ($1.8 mil)
Net income: $2.1 mil
Quarterly Net income: $0.4 mil
Pretax return on assets: 1.28% ($3,158.0 mil)
Quarterly Pretax return on assets: 1.02% ($2,516.5 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)65
Total assets$246,718
Cash and due from depository institutions$6,470
Interest-bearing balances$1,125
Securities$72,156
Federal funds sold & reverse repurchase agreements$2,311
Net loans & leases$143,742
Loan loss allowance $2,708
Trading account assets$0
Bank premises and fixed assets$8,966
Other real estate owned$5,522
Goodwill and other intangibles$464
All other assets$7,087
Life insurance assets$246,718
Total liabilities and capital$225,470
Total liabilities$216,571
Total deposits$193,589
Interest-bearing deposits$216,571
Deposits held in domestic offices$77
% insured (estimated)5090.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$2,000
Other borrowed funds $0
Subordinated debt $1,809
All other liabilities $21,248
Total equity capital$21,248
Total bank equity capital$21,248
Perpetual preferred stock$0
Common stock$3,264
Surplus$6,339
Undivided profits $11,645
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $11,488
Income earned, not collected on loans $1,230
Earning assets $0
Long-term assets (5+ years) $1,292
Average Assets, year-to-date $219,334
Average Assets, quarterly $99,964
Volatile liabilities $235,595
Insider loans $242,465
FHLB advances $175,730
Loans and leases held for sale $244,575
Unused loan commitments $3,472
Tier 1 (core) risk-based capital $3,153
Tier 2 risk-based capital $19,264
Total risk weighted assets $319
Total unused commitments $0
Restructured Loans and leases $31,030
Derivatives$5,636
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $9,771
Total interest expense $2,035
Net interest income $7,736
Provision for loan and lease losses $900
Total noninterest income $4,553
Fiduciary activities $0
Service charges on deposit accounts $703
Trading account gains & fees $0
Additional noninterest income $3,850
Total noninterest expense $8,413
Salaries and employee benefits $4,836
Premises and equipment expense $1,055
Additional noninterest expense $2,522
Pre-tax net operating income $2,976
Securities gains (losses) $31
Applicable income taxes $913
Income before extraordinary items $2,094
Extraordinary gains - net $0
Net income attributable to bank $2,094
Net charge-offs $0
Cash dividends $2,094
Sale, conversion, retirement of capital stock, net $960
Net operating income $800
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.60%
Cost of funding earning assets 0.96%
Net interest margin 3.64%
Noninterest income to earning assets 2.14%
Noninterest expense to earning assets 3.96%
Net operating income to assets 0.88%
Return on assets (ROA) 0.89%
Pretax return on assets 1.28%
Return on equity (ROE) 10.32%
Retained earnings to average equity (YTD only) 6.37%
Net charge-offs to loans 0.66%
Credit loss provision to net charge-offs 93.75%
Efficiency ratio4.04%
Assets per employee$68,370
Cash dividends to net income (YTD only)3.80%
Condition Ratios (%)
Loss allowance to loans 38.20%
Loss allowance to noncurrent loans 1.85%
Noncurrent assets plus other real estate owned to assets 220.16%
Noncurrent loans to loans 2.74%
Net loans and leases to deposits0.84%
Net loans and leases to core deposits 66.37%
Equity capital to assets 73.63%
Core capital (leverage) ratio 8.61%
Tier 1 risk-based capital ratio 7.88%
Total risk-based capital ratio 10.96%
Memoranda
Average assets$12
Average earning assets$235,595
Average equity $20,299
Average loans $212,427
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5 Tennessee Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0363408Patriot Bank8376 Highway 51 North, Millington, TN 38053October 09, 2002Full Service Brick and Mortar
2423142Byhalia Road Branch279 Market Boulevard, Collierville, TN 38017August 11, 2003Full Service Brick and Mortar
3428843Pleasant Avenue Branch101 East Pleasant Avenue, Covington, TN 38019May 03, 2004Full Service Brick and Mortar
45879Peoples Bank Branch9105 Barret Road, Barretville, TN 38053January 01, 1908Full Service Brick and Mortar
5465944Highway 51 Branch11529 Highway 51 South, Atoka, TN 38004July 16, 2007Full Service Brick and Mortar
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