PrimeSouth Bank in Tallassee, Alabama (AL)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • PrimeSouth Bank in Tallassee, Alabama (AL)
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PrimeSouth Bank - Overview

  • General
  • FDIC Certificate #: 17892
    Status: Active
    Federal Reserve ID: 209830
    Bank Holding Company (Regulatory Top Holder): Primesouth Bancshares, Inc. (RSSDID: 2858867, Location: Tallassee, AL)
    Date Established: September 02, 1958
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    FDIC's unique #: 11831
    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: Commercial Lending Specialization
    Date of Deposit Insurance: September 02, 1958
    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: 301 Main Street, Tallassee, AL 36078
    County: Tallapoosa
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Montgomery
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Combined Statistical Area (CSA): Montgomery-Alexander City, AL (#388)
    Core Based Statistical Area (CBSA): Alexander City, AL (#10760)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $161.7 mil
    Equity capital: $17.5 mil
    Deposits held in domestic offices: $138.6 mil
    Return on assets (ROA): 0.63% ($1.0 mil)
    Quarterly return on assets: 0.60% ($1.0 mil)
    Return on Equity (ROE): 6.25% ($1.1 mil)
    Quarterly return on equity: 5.63% ($1.0 mil)
    Net income: $1.0 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 0.38% ($614.4 mil)
    Quarterly Pretax return on assets: 0.09% ($145.5 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
  • 32Total employees (full-time equivalent)
  • $161,692Total assets
  • $11,510Cash and due from depository institutions
  • $3,317Interest-bearing balances
  • $22,330Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $114,152Net loans & leases
  • $2,226Loan loss allowance
  • $0Trading account assets
  • $5,348Bank premises and fixed assets
  • $1,627Other real estate owned
  • $0Goodwill and other intangibles
  • $161,692Life insurance assets
  • $6,725All other assets
  • $144,163Total liabilities and capital
  • $138,619Total liabilities
  • $120,279Total deposits
  • $138,619Interest-bearing deposits
  • $86Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $5,000Trading liabilities
  • $0Other borrowed funds
  • $544Subordinated debt
  • $17,529All other liabilities
  • $17,529Total equity capital
  • $17,529Total bank equity capital
  • $0Perpetual preferred stock
  • $180Common stock
  • $8,150Surplus
  • $9,199Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,161Income earned, not collected on loans
  • $0Earning assets
  • $1,409Long-term assets (5+ years)
  • $139,799Average Assets, year-to-date
  • $19,430Average Assets, quarterly
  • $158,563Volatile liabilities
  • $161,033Insider loans
  • $119,601FHLB advances
  • $162,561Loans and leases held for sale
  • $3,076Unused loan commitments
  • $2,543Tier 1 (core) risk-based capital
  • $17,092Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $533Total unused commitments
  • $4,665Restructured Loans and leases
  • $616Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $8,047Total interest income
  • $2,058Total interest expense
  • $5,989Net interest income
  • $2,997Provision for loan and lease losses
  • $885Total noninterest income
  • $0Fiduciary activities
  • $709Service charges on deposit accounts
  • $0Trading account gains & fees
  • $176Additional noninterest income
  • $3,273Total noninterest expense
  • $1,668Salaries and employee benefits
  • $416Premises and equipment expense
  • $1,189Additional noninterest expense
  • $604Pre-tax net operating income
  • -$5Securities gains (losses)
  • -$400Applicable income taxes
  • $999Income before extraordinary items
  • $0Extraordinary gains - net
  • $999Net income attributable to bank
  • $0Net charge-offs
  • $999Cash dividends
  • $3,281Sale, conversion, retirement of capital stock, net
  • $375Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.84%Yield on earning assets
  • 1.49%Cost of funding earning assets
  • 4.35%Net interest margin
  • 0.64%Noninterest income to earning assets
  • 2.38%Noninterest expense to earning assets
  • 0.63%Net operating income to assets
  • 0.63%Return on assets (ROA)
  • 0.38%Pretax return on assets
  • 6.25%Return on equity (ROE)
  • 3.91%Retained earnings to average equity (YTD only)
  • 2.87%Net charge-offs to loans
  • 91.34%Credit loss provision to net charge-offs
  • 1.10%Efficiency ratio
  • 47,614Assets per employee
  • 5.05%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 37.54%Loss allowance to loans
  • 1.91%Loss allowance to noncurrent loans
  • 70.42%Noncurrent assets plus other real estate owned to assets
  • 2.96%Noncurrent loans to loans
  • 2.72%Net loans and leases to deposits
  • 82.35%Net loans and leases to core deposits
  • 97.33%Equity capital to assets
  • 10.84%Core capital (leverage) ratio
  • 10.51%Tier 1 risk-based capital ratio
  • 14.29%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $158,563Average earning assets
  • $15,976Average equity
  • $137,784Average loans

List of branches

  • 3 Alabama Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    011831Primesouth Bank301 Main Street, Tallassee, AL 36078September 02, 1958Full Service Brick and Mortar
    2243100Gilmer Avenue Branch1217 Gilmer Avenue, Tallassee, AL 36078August 17, 1995Full Service Brick and Mortar
    3442342Wetumpka Office Branch3936 Us Hwy, 231, Wetumpka, AL 36092August 09, 2004Full Service Brick and Mortar

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