Progressive Savings Bank in Jamestown, Tennessee (TN)
Overview, Financial Summary, Detailed Financial Reports, Branches


Progressive Savings Bank - Overview

  • General
  • FDIC Certificate #: 32021
    Status: Active
    Federal Reserve ID: 535874
    Date Established: June 06, 1980
    WWW: http://www.psbgroup.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 6 (Domestic: 6, Interstate: No)
    OTS Docket #: 7750
    FDIC's unique #: 44855
    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: June 06, 1980
    Last Structure Change Effective Date: November 04, 2010
    Last Structure Change Process Date: November 23, 2010
    Last Data Update: November 23, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 500 North Main Street, Jamestown, TN 38556
    County: Fentress
    Quarterly Banking Profile Region: Dallas
    FDIC Geographic Region: Dallas
    FDIC Supervisory Region: Dallas
    FDIC Field Office: Knoxville
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
  • History of Changes
  • Change in Entity Type
    Change in Supervisory Agency
    Name Change
    Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $252.1 mil
    Equity capital: $22.5 mil
    Deposits held in domestic offices: $228.4 mil
    Return on assets (ROA): 0.48% ($1.2 mil)
    Quarterly return on assets: 0.49% ($1.2 mil)
    Return on Equity (ROE): 5.51% ($1.3 mil)
    Quarterly return on equity: 5.57% ($1.3 mil)
    Net income: $1.2 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 0.51% ($1,285.5 mil)
    Quarterly Pretax return on assets: 0.52% ($1,310.7 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
  • 98Total employees (full-time equivalent)
  • $252,066Total assets
  • $28,764Cash and due from depository institutions
  • $26,880Interest-bearing balances
  • $28,658Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $162,233Net loans & leases
  • $1,723Loan loss allowance
  • $0Trading account assets
  • $18,755Bank premises and fixed assets
  • $4,758Other real estate owned
  • $537Goodwill and other intangibles
  • $252,066Life insurance assets
  • $8,361All other assets
  • $229,551Total liabilities and capital
  • $228,352Total liabilities
  • $208,422Total deposits
  • $228,352Interest-bearing deposits
  • $94Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $57Trading liabilities
  • $0Other borrowed funds
  • $1,142Subordinated debt
  • $22,515All other liabilities
  • $22,515Total equity capital
  • $22,515Total bank equity capital
  • $0Perpetual preferred stock
  • $199Common stock
  • $4,254Surplus
  • $18,062Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,426Income earned, not collected on loans
  • $0Earning assets
  • $1,201Long-term assets (5+ years)
  • $217,771Average Assets, year-to-date
  • $22,540Average Assets, quarterly
  • $250,986Volatile liabilities
  • $251,920Insider loans
  • $180,069FHLB advances
  • $251,858Loans and leases held for sale
  • $4,687Unused loan commitments
  • $2,890Tier 1 (core) risk-based capital
  • $20,977Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $1,797Total unused commitments
  • $8,573Restructured Loans and leases
  • $880Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $11,468Total interest income
  • $2,920Total interest expense
  • $8,548Net interest income
  • $491Provision for loan and lease losses
  • $3,873Total noninterest income
  • $0Fiduciary activities
  • $924Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,949Additional noninterest income
  • $10,638Total noninterest expense
  • $5,505Salaries and employee benefits
  • $2,023Premises and equipment expense
  • $3,110Additional noninterest expense
  • $1,292Pre-tax net operating income
  • $0Securities gains (losses)
  • $80Applicable income taxes
  • $1,212Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,212Net income attributable to bank
  • $0Net charge-offs
  • $1,212Cash dividends
  • $288Sale, conversion, retirement of capital stock, net
  • $600Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.29%Yield on earning assets
  • 1.35%Cost of funding earning assets
  • 3.94%Net interest margin
  • 1.79%Noninterest income to earning assets
  • 4.91%Noninterest expense to earning assets
  • 0.48%Net operating income to assets
  • 0.48%Return on assets (ROA)
  • 0.51%Pretax return on assets
  • 5.51%Return on equity (ROE)
  • 2.78%Retained earnings to average equity (YTD only)
  • 0.17%Net charge-offs to loans
  • 170.49%Credit loss provision to net charge-offs
  • 6.19%Efficiency ratio
  • 85,186Assets per employee
  • 2.57%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 49.50%Loss allowance to loans
  • 1.05%Loss allowance to noncurrent loans
  • 71.02%Noncurrent assets plus other real estate owned to assets
  • 2.85%Noncurrent loans to loans
  • 1.48%Net loans and leases to deposits
  • 71.05%Net loans and leases to core deposits
  • 77.54%Equity capital to assets
  • 8.93%Core capital (leverage) ratio
  • 8.33%Tier 1 risk-based capital ratio
  • 11.65%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $250,986Average earning assets
  • $21,978Average equity
  • $216,756Average loans

Total Fiduciary and Related Assets (December 31, 2009)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • YesFiduciary powers granted
  • NoFiduciary or related activity
  • $27,794Managed Assets
  • 1Number of Accounts
  • $27,794Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $27,794Non-managed Assets
  • 251Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 6 Tennessee Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    044855Progressive Savings Bank500 North Main Street, Jamestown, TN 38556June 06, 1980Full Service Brick and Mortar
    101286476Wartburg Branch705 Main St, Wartburg, TN 37887June 06, 1980Full Service Brick and Mortar
    103286478North Main Branch807 North Main, Crossville, TN 38555Febuary 17, 1998Full Service Brick and Mortar
    105492478Fairfield Glade Branch4929 Peavine Road, Crossville, TN 38571March 01, 2008Full Service Brick and Mortar
    106495840S Main St Branch1760 S Main St, Crossville, TN 38555May 01, 2006Full Service Brick and Mortar
    107495845Cookeville Branch1080 Interstate Dr, Cookeville, TN 38501August 01, 2005Full Service Brick and Mortar

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