PriorityOne Bank in Magee, Mississippi (MS)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • PriorityOne Bank in Magee, Mississippi (MS)
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PriorityOne Bank - Overview

  • General
  • FDIC Certificate #: 21906
    Status: Active
    Federal Reserve ID: 956938
    Bank Holding Company (Regulatory Top Holder): Priorityone Capital Corporation (RSSDID: 1084575, Location: Magee, MS)
    Date Established: January 27, 1975
    WWW: http://www.priorityonebank.com
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 11 (Domestic: 11, Interstate: No)
    OTS Docket #: 11673
    FDIC's unique #: 15181
    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: Yes
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 27, 1975
    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: 220 North Main Avenue, Magee, MS 39111
    County: Simpson
    Quarterly Banking Profile Region: Dallas
    FDIC Geographic Region: Dallas
    FDIC Supervisory Region: Dallas
    FDIC Field Office: Jackson Ms
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: West
    Combined Statistical Area (CSA): Jackson-Yazoo City, MS (#298)
    Core Based Statistical Area (CBSA): Jackson, MS (#27140)
    CBSA Metro Statistical Area: Jackson, MS (#27140)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $511.5 mil
    Equity capital: $53.6 mil
    Deposits held in domestic offices: $433.9 mil
    Return on assets (ROA): 1.18% ($6.0 mil)
    Quarterly return on assets: 1.38% ($7.1 mil)
    Return on Equity (ROE): 11.72% ($6.3 mil)
    Quarterly return on equity: 13.36% ($7.2 mil)
    Net income: $6.0 mil
    Quarterly Net income: $1.8 mil
    Pretax return on assets: 1.18% ($6,035.9 mil)
    Quarterly Pretax return on assets: 1.38% ($7,058.9 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
  • 173Total employees (full-time equivalent)
  • $511,515Total assets
  • $15,121Cash and due from depository institutions
  • $6,077Interest-bearing balances
  • $91,977Securities
  • $12,125Federal funds sold & reverse repurchase agreements
  • $357,673Net loans & leases
  • $7,336Loan loss allowance
  • $0Trading account assets
  • $13,017Bank premises and fixed assets
  • $242Other real estate owned
  • $268Goodwill and other intangibles
  • $511,515Life insurance assets
  • $21,092All other assets
  • $457,924Total liabilities and capital
  • $433,863Total liabilities
  • $388,369Total deposits
  • $433,863Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 700.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $19,600Trading liabilities
  • $0Other borrowed funds
  • $3,761Subordinated debt
  • $53,591All other liabilities
  • $53,591Total equity capital
  • $53,591Total bank equity capital
  • $0Perpetual preferred stock
  • $2,300Common stock
  • $20,052Surplus
  • $31,239Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $1,923Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $11,591Income earned, not collected on loans
  • $0Earning assets
  • $2,672Long-term assets (5+ years)
  • $467,852Average Assets, year-to-date
  • $37,502Average Assets, quarterly
  • $508,214Volatile liabilities
  • $511,180Insider loans
  • $387,957FHLB advances
  • $506,316Loans and leases held for sale
  • $14,355Unused loan commitments
  • $9,543Tier 1 (core) risk-based capital
  • $53,519Tier 2 risk-based capital
  • $4,812Total risk weighted assets
  • $0Total unused commitments
  • $19,209Restructured Loans and leases
  • $666Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $24,327Total interest income
  • $5,427Total interest expense
  • $18,900Net interest income
  • $3,562Provision for loan and lease losses
  • $8,127Total noninterest income
  • $0Fiduciary activities
  • $5,195Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,932Additional noninterest income
  • $16,267Total noninterest expense
  • $9,606Salaries and employee benefits
  • $1,533Premises and equipment expense
  • $5,128Additional noninterest expense
  • $7,198Pre-tax net operating income
  • -$1,189Securities gains (losses)
  • $0Applicable income taxes
  • $6,009Income before extraordinary items
  • $0Extraordinary gains - net
  • $6,009Net income attributable to bank
  • $0Net charge-offs
  • $6,009Cash dividends
  • $2,602Sale, conversion, retirement of capital stock, net
  • $3,000Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.23%Yield on earning assets
  • 1.17%Cost of funding earning assets
  • 4.06%Net interest margin
  • 1.75%Noninterest income to earning assets
  • 3.50%Noninterest expense to earning assets
  • 1.42%Net operating income to assets
  • 1.18%Return on assets (ROA)
  • 1.18%Pretax return on assets
  • 11.72%Return on equity (ROE)
  • 5.87%Retained earnings to average equity (YTD only)
  • 0.71%Net charge-offs to loans
  • 136.89%Credit loss provision to net charge-offs
  • 4.14%Efficiency ratio
  • 60,188Assets per employee
  • 2.96%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 49.93%Loss allowance to loans
  • 2.01%Loss allowance to noncurrent loans
  • 63.29%Noncurrent assets plus other real estate owned to assets
  • 3.08%Noncurrent loans to loans
  • 3.18%Net loans and leases to deposits
  • 82.44%Net loans and leases to core deposits
  • 85.58%Equity capital to assets
  • 10.48%Core capital (leverage) ratio
  • 10.57%Tier 1 risk-based capital ratio
  • 13.80%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $508,214Average earning assets
  • $51,272Average equity
  • $464,981Average loans

List of branches

  • 11 Mississippi Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    015181Priorityone Bank220 North Main Avenue, Magee, MS 39111January 27, 1975Full Service Brick and Mortar
    1253709Mendenhall Branch3066 Simpson Highway 13, Mendenhall, MS 39114September 10, 1976Full Service Brick and Mortar
    35456Collins Main Branch215 Main Street, Collins, MS 39428January 01, 1934Full Service Brick and Mortar
    4218700Seminary Branch217 W Main Street, Seminary, MS 39479June 09, 1965Full Service Brick and Mortar
    614938Morton Branch164 Hwy 481 South, Morton, MS 39117May 22, 1974Full Service Brick and Mortar
    7253092Pelahatchie Branch528 Second Street, Pelahatchie, MS 39145August 16, 1976Full Service Brick and Mortar
    8253093Crossgates Branch1400 West Government Street, Brandon, MS 39042January 20, 1986Full Service Brick and Mortar
    9206255Pearl Branch3480 Highway 80 East, Pearl, MS 39208October 10, 1973Full Service Brick and Mortar
    11334340Hattiesburg Branch6276 Highway 98 West, Hattiesburg, MS 39402March 06, 2000Full Service Brick and Mortar
    12361451Richland Branch1021 Hwy, 49 South, Richland, MS 39218October 16, 2000Full Service Brick and Mortar
    15438885Magee Shopping Center Branch1596 Simpson Highway 49, Magee, MS 39111March 14, 2005Full Service Brick and Mortar

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