Security Federal Savings Bank of McMinnville in Mc Minnville, Tennessee (TN)



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Table of contents:
Security Federal Savings Bank of McMinnville
GeneralFDIC Certificate #: 31146
Status: Active
Federal Reserve ID: 631178
Bank Holding Company (Regulatory Top Holder): Security Bancorp, Inc. (RSSDID: 3842069, Location: Mcminnville, TN)
Date Established: January 01, 1959
WWW: http://www.secfed.net
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Domestic: 3, Interstate: No)
FDIC's unique #: 43980
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: Febuary 01, 1960
Last Structure Change Effective Date: Febuary 11, 2009
Last Structure Change Process Date: March 26, 2009
Last Data Update: March 26, 2009
Data Source Date: April 05, 2012
LocationAddress: 306 West Main Street, Mc Minnville, TN 37110
County: Warren
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Nashville
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Core Based Statistical Area (CBSA): McMinnville, TN (#32660)
CBSA Micro Statistical Area: Yes
History of ChangesChange in OTS Docket Number
Institution Withdraws from FHS
Change in Primary Regulatory Agency
Change in Entity Type
Financial SummaryTotal assets: $157.8 mil
Equity capital: $15.1 mil
Deposits held in domestic offices: $135.8 mil
Return on assets (ROA): 0.71% ($1.1 mil)
Quarterly return on assets: 0.81% ($1.3 mil)
Return on Equity (ROE): 7.75% ($1.2 mil)
Quarterly return on equity: 8.55% ($1.3 mil)
Net income: $1.1 mil
Quarterly Net income: $0.3 mil
Pretax return on assets: 1.18% ($1,862.1 mil)
Quarterly Pretax return on assets: 1.32% ($2,083.1 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)46
Total assets$157,807
Cash and due from depository institutions$7,494
Interest-bearing balances$304
Securities$25,099
Federal funds sold & reverse repurchase agreements$315
Net loans & leases$117,484
Loan loss allowance $1,538
Trading account assets$0
Bank premises and fixed assets$2,212
Other real estate owned$432
Goodwill and other intangibles$330
All other assets$4,441
Life insurance assets$157,807
Total liabilities and capital$142,697
Total liabilities$135,814
Total deposits$116,132
Interest-bearing deposits$135,814
Deposits held in domestic offices$91
% insured (estimated)2842.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$3,086
Other borrowed funds $0
Subordinated debt $955
All other liabilities $15,110
Total equity capital$15,110
Total bank equity capital$15,110
Perpetual preferred stock$0
Common stock$1
Surplus$4,125
Undivided profits $10,984
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $323
Income earned, not collected on loans $1,515
Earning assets $0
Long-term assets (5+ years) $678
Average Assets, year-to-date $143,202
Average Assets, quarterly $7,913
Volatile liabilities $157,583
Insider loans $157,376
FHLB advances $112,760
Loans and leases held for sale $159,881
Unused loan commitments $1,660
Tier 1 (core) risk-based capital $860
Tier 2 risk-based capital $15,091
Total risk weighted assets $0
Total unused commitments $800
Restructured Loans and leases $25,196
Derivatives$2,478
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $6,395
Total interest expense $1,642
Net interest income $4,753
Provision for loan and lease losses $262
Total noninterest income $2,167
Fiduciary activities $710
Service charges on deposit accounts $632
Trading account gains & fees $0
Additional noninterest income $825
Total noninterest expense $4,806
Salaries and employee benefits $2,482
Premises and equipment expense $587
Additional noninterest expense $1,737
Pre-tax net operating income $1,852
Securities gains (losses) $0
Applicable income taxes $728
Income before extraordinary items $1,124
Extraordinary gains - net $0
Net income attributable to bank $1,124
Net charge-offs $0
Cash dividends $1,124
Sale, conversion, retirement of capital stock, net $49
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.46%
Cost of funding earning assets 1.15%
Net interest margin 3.32%
Noninterest income to earning assets 1.51%
Noninterest expense to earning assets 3.35%
Net operating income to assets 0.71%
Return on assets (ROA) 0.71%
Pretax return on assets 1.18%
Return on equity (ROE) 7.75%
Retained earnings to average equity (YTD only) 7.75%
Net charge-offs to loans 0.04%
Credit loss provision to net charge-offs 534.69%
Efficiency ratio43.14%
Assets per employee$69,451
Cash dividends to net income (YTD only)3.43%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.29%
Noncurrent assets plus other real estate owned to assets 101.52%
Noncurrent loans to loans 1.23%
Net loans and leases to deposits1.27%
Net loans and leases to core deposits 86.50%
Equity capital to assets 93.69%
Core capital (leverage) ratio 9.57%
Tier 1 risk-based capital ratio 9.44%
Total risk-based capital ratio 13.38%
Memoranda
Average assets$15
Average earning assets$157,583
Average equity $14,501
Average loans $143,370
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$111,955
Number of Accounts1
Personal trust and agency accounts$109,576
Employee benefit-defined contribution accounts$4,498
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$44,411
Investment management agency accounts$0
Other fiduciary accounts$60,667
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts454
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$44,411
Employee benefit-defined benefit accounts$0
Other retirement accounts$2,379
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$2,368
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3 Tennessee Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
043980Security Federal Savings Bank Of Mcm306 West Main Street, Mc Minnville, TN 37110January 01, 1959Full Service Brick and Mortar
1461626Mcminnville Branch1017 Smithville Hwy, Mc Minnville, TN 37110June 30, 2006Full Service Brick and Mortar
2492791Manchester Hwy Branch5839 Manchester Hwy, Morrison, TN 37357April 07, 2009Full Service Brick and Mortar
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