PrimeSouth Bank in Tallassee, Alabama (AL)

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PrimeSouth Bank
GeneralFDIC 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
LocationAddress: 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 ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal 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)
Total employees (full-time equivalent)32
Total assets$161,692
Cash and due from depository institutions$11,510
Interest-bearing balances$3,317
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$114,152
Loan loss allowance $2,226
Trading account assets$0
Bank premises and fixed assets$5,348
Other real estate owned$1,627
Goodwill and other intangibles$0
All other assets$6,725
Life insurance assets$161,692
Total liabilities and capital$144,163
Total liabilities$138,619
Total deposits$120,279
Interest-bearing deposits$138,619
Deposits held in domestic offices$86
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$5,000
Other borrowed funds $0
Subordinated debt $544
All other liabilities $17,529
Total equity capital$17,529
Total bank equity capital$17,529
Perpetual preferred stock$0
Common stock$180
Undivided profits $9,199
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 $3,161
Earning assets $0
Long-term assets (5+ years) $1,409
Average Assets, year-to-date $139,799
Average Assets, quarterly $19,430
Volatile liabilities $158,563
Insider loans $161,033
FHLB advances $119,601
Loans and leases held for sale $162,561
Unused loan commitments $3,076
Tier 1 (core) risk-based capital $2,543
Tier 2 risk-based capital $17,092
Total risk weighted assets $0
Total unused commitments $533
Restructured Loans and leases $4,665
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $8,047
Total interest expense $2,058
Net interest income $5,989
Provision for loan and lease losses $2,997
Total noninterest income $885
Fiduciary activities $0
Service charges on deposit accounts $709
Trading account gains & fees $0
Additional noninterest income $176
Total noninterest expense $3,273
Salaries and employee benefits $1,668
Premises and equipment expense $416
Additional noninterest expense $1,189
Pre-tax net operating income $604
Securities gains (losses) -$5
Applicable income taxes -$400
Income before extraordinary items $999
Extraordinary gains - net $0
Net income attributable to bank $999
Net charge-offs $0
Cash dividends $999
Sale, conversion, retirement of capital stock, net $3,281
Net operating income $375
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.84%
Cost of funding earning assets 1.49%
Net interest margin 4.35%
Noninterest income to earning assets 0.64%
Noninterest expense to earning assets 2.38%
Net operating income to assets 0.63%
Return on assets (ROA) 0.63%
Pretax return on assets 0.38%
Return on equity (ROE) 6.25%
Retained earnings to average equity (YTD only) 3.91%
Net charge-offs to loans 2.87%
Credit loss provision to net charge-offs 91.34%
Efficiency ratio1.10%
Assets per employee$47,614
Cash dividends to net income (YTD only)5.05%
Condition Ratios (%)
Loss allowance to loans 37.54%
Loss allowance to noncurrent loans 1.91%
Noncurrent assets plus other real estate owned to assets 70.42%
Noncurrent loans to loans 2.96%
Net loans and leases to deposits2.72%
Net loans and leases to core deposits 82.35%
Equity capital to assets 97.33%
Core capital (leverage) ratio 10.84%
Tier 1 risk-based capital ratio 10.51%
Total risk-based capital ratio 14.29%
Average assets$16
Average earning assets$158,563
Average equity $15,976
Average loans $137,784
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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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