Security State Bank in Littlefield, Texas (TX)
Overview, Financial Summary, Detailed Financial Reports, Branches

Security State Bank - Overview

  • General
  • FDIC Certificate #: 16631
    Status: Active
    Federal Reserve ID: 569253
    Bank Holding Company (Regulatory Top Holder): Xit Bancshares, Inc. (RSSDID: 2409924, Location: Littlefield, TX)
    Date Established: October 04, 1947
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 5 (Domestic: 5, Interstate: No)
    FDIC's unique #: 10771
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Agricultural lending institution: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: Yes
    Asset Concentration Hierarchy: Agricultural Specialization
    Date of Deposit Insurance: October 04, 1947
    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: 501 Phelps Avenue, Littlefield, TX 79339
    County: Lamb
    Quarterly Banking Profile Region: Dallas
    FDIC Geographic Region: Dallas
    FDIC Supervisory Region: Dallas
    FDIC Field Office: Lubbock
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: West
  • History of Changes
  • Change in Geographic Region/Area/Territory/Field Office
    Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $107.9 mil
    Equity capital: $11.2 mil
    Deposits held in domestic offices: $95.7 mil
    Return on assets (ROA): 0.68% ($0.7 mil)
    Quarterly return on assets: 0.99% ($1.1 mil)
    Return on Equity (ROE): 6.66% ($0.7 mil)
    Quarterly return on equity: 9.21% ($1.0 mil)
    Net income: $0.7 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 0.68% ($733.6 mil)
    Quarterly Pretax return on assets: 0.99% ($1,068.1 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
  • 54Total employees (full-time equivalent)
  • $107,889Total assets
  • $11,306Cash and due from depository institutions
  • $6,970Interest-bearing balances
  • $27,574Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $61,696Net loans & leases
  • $1,005Loan loss allowance
  • $0Trading account assets
  • $3,473Bank premises and fixed assets
  • $346Other real estate owned
  • $0Goodwill and other intangibles
  • $107,889Life insurance assets
  • $3,494All other assets
  • $96,668Total liabilities and capital
  • $95,749Total liabilities
  • $69,590Total deposits
  • $95,749Interest-bearing deposits
  • $90Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $919Subordinated debt
  • $11,221All other liabilities
  • $11,221Total equity capital
  • $11,221Total bank equity capital
  • $0Perpetual preferred stock
  • $1,000Common stock
  • $7,200Surplus
  • $3,021Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $3,763Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $247Income earned, not collected on loans
  • $247Earning assets
  • $876Long-term assets (5+ years)
  • $96,240Average Assets, year-to-date
  • $24,245Average Assets, quarterly
  • $104,054Volatile liabilities
  • $104,289Insider loans
  • $72,985FHLB advances
  • $103,234Loans and leases held for sale
  • $1,871Unused loan commitments
  • $1,871Tier 1 (core) risk-based capital
  • $9,773Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $17,466Restructured Loans and leases
  • $4,412Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,625Total interest income
  • $490Total interest expense
  • $4,135Net interest income
  • $125Provision for loan and lease losses
  • $1,319Total noninterest income
  • $83Fiduciary activities
  • $420Service charges on deposit accounts
  • $0Trading account gains & fees
  • $816Additional noninterest income
  • $4,621Total noninterest expense
  • $2,556Salaries and employee benefits
  • $732Premises and equipment expense
  • $1,333Additional noninterest expense
  • $708Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • $708Income before extraordinary items
  • $0Extraordinary gains - net
  • $708Net income attributable to bank
  • $0Net charge-offs
  • $708Cash dividends
  • -$18Sale, conversion, retirement of capital stock, net
  • $100Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.03%Yield on earning assets
  • 0.53%Cost of funding earning assets
  • 4.50%Net interest margin
  • 1.43%Noninterest income to earning assets
  • 5.03%Noninterest expense to earning assets
  • 0.68%Net operating income to assets
  • 0.68%Return on assets (ROA)
  • 0.68%Pretax return on assets
  • 6.66%Return on equity (ROE)
  • 5.72%Retained earnings to average equity (YTD only)
  • -0.03%Net charge-offs to loans
  • -694.44%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 84,727Assets per employee
  • 2.00%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 14.12%Loss allowance to loans
  • 1.60%Loss allowance to noncurrent loans
  • 406.88%Noncurrent assets plus other real estate owned to assets
  • 0.55%Noncurrent loans to loans
  • 0.39%Net loans and leases to deposits
  • 64.44%Net loans and leases to core deposits
  • 64.95%Equity capital to assets
  • 10.40%Core capital (leverage) ratio
  • 9.47%Tier 1 risk-based capital ratio
  • 13.39%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $104,054Average earning assets
  • $10,633Average equity
  • $91,940Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $17,121Managed Assets
  • 1Number of Accounts
  • $14,130Personal trust and agency accounts
  • $10,280Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $3,850Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 39Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $2,991Other retirement accounts
  • $0Corporate trust and agency accounts
  • $1,129Other fiduciary accounts
  • $836Fiduciary accounts held in foreign offices

List of branches

  • 5 Texas Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    010771Security State Bank501 Phelps Avenue, Littlefield, TX 79339October 04, 1947Full Service Brick and Mortar
    1238516Detached Facility532 Phelps Avenue, Littlefield, TX 79339September 24, 1981Limited Service Facility
    2283239Olton Branch816 Main Street, Olton, TX 79064January 01, 1958Full Service Brick and Mortar
    3430434Lubbock Office Branch4415 71st Street, Suite 15, Lubbock, TX 79424April 12, 2004Full Service Brick and Mortar
    4447932Lubbock Branch7801 Quaker Avenue, Lubbock, TX 79424December 14, 2005Full Service Brick and Mortar

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