Small Town Bank in Wedowee, Alabama (AL)

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Small Town Bank
GeneralFDIC Certificate #: 35112
Status: Active
Federal Reserve ID: 2804864
Bank Holding Company (Regulatory Top Holder): East Alabama Financial Group, Inc. (RSSDID: 2804855, Location: Wedowee, AL)
Date Established: July 02, 1999
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Domestic: 4, Interstate: No)
FDIC's unique #: 74901
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: All Other Specialization < 1 Billion
Date of Deposit Insurance: July 02, 1999
Last Structure Change Effective Date: Febuary 24, 2011
Last Structure Change Process Date: Febuary 24, 2011
Last Data Update: Febuary 24, 2011
Data Source Date: April 05, 2012
LocationAddress: 117 Main Street, Wedowee, AL 36278
County: Randolph
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Shelby
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
History of ChangesChange in Geographic Region/Area/Territory/Field Office
Financial SummaryTotal assets: $236.7 mil
Equity capital: $30.1 mil
Deposits held in domestic offices: $196.0 mil
Return on assets (ROA): 0.64% ($1.5 mil)
Quarterly return on assets: -0.73% (-$1.7 mil)
Return on Equity (ROE): 5.49% ($1.6 mil)
Quarterly return on equity: -5.72% (-$1.7 mil)
Net income: $1.5 mil
Quarterly Net income: -$0.4 mil
Pretax return on assets: 0.48% ($1,136.2 mil)
Quarterly Pretax return on assets: -1.96% (-$4,639.4 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)45
Total assets$236,703
Cash and due from depository institutions$16,737
Interest-bearing balances$12,510
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$112,060
Loan loss allowance $3,240
Trading account assets$0
Bank premises and fixed assets$2,389
Other real estate owned$2,228
Goodwill and other intangibles$2,612
All other assets$9,196
Life insurance assets$236,703
Total liabilities and capital$206,589
Total liabilities$195,968
Total deposits$181,384
Interest-bearing deposits$195,968
Deposits held in domestic offices$94
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$10,000
Other borrowed funds $0
Subordinated debt $621
All other liabilities $30,114
Total equity capital$30,114
Total bank equity capital$30,114
Perpetual preferred stock$0
Common stock$1
Undivided profits $21,565
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 $398
Earning assets $0
Long-term assets (5+ years) $2,004
Average Assets, year-to-date $216,051
Average Assets, quarterly $119,848
Volatile liabilities $239,764
Insider loans $239,745
FHLB advances $143,113
Loans and leases held for sale $237,790
Unused loan commitments $4,851
Tier 1 (core) risk-based capital $2,244
Tier 2 risk-based capital $26,351
Total risk weighted assets $0
Total unused commitments $2,607
Restructured Loans and leases $6,548
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $13,093
Total interest expense $4,019
Net interest income $9,074
Provision for loan and lease losses $3,800
Total noninterest income $737
Fiduciary activities $0
Service charges on deposit accounts $621
Trading account gains & fees $0
Additional noninterest income $116
Total noninterest expense $4,868
Salaries and employee benefits $2,739
Premises and equipment expense $502
Additional noninterest expense $1,627
Pre-tax net operating income $1,143
Securities gains (losses) $0
Applicable income taxes -$401
Income before extraordinary items $1,544
Extraordinary gains - net $0
Net income attributable to bank $1,544
Net charge-offs $0
Cash dividends $1,544
Sale, conversion, retirement of capital stock, net $2,730
Net operating income $100
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.99%
Cost of funding earning assets 1.84%
Net interest margin 4.15%
Noninterest income to earning assets 0.34%
Noninterest expense to earning assets 2.23%
Net operating income to assets 0.64%
Return on assets (ROA) 0.64%
Pretax return on assets 0.48%
Return on equity (ROE) 5.49%
Retained earnings to average equity (YTD only) 5.13%
Net charge-offs to loans 2.16%
Credit loss provision to net charge-offs 139.19%
Efficiency ratio1.81%
Assets per employee$49,618
Cash dividends to net income (YTD only)5.26%
Condition Ratios (%)
Loss allowance to loans 6.48%
Loss allowance to noncurrent loans 2.81%
Noncurrent assets plus other real estate owned to assets 814.07%
Noncurrent loans to loans 1.11%
Net loans and leases to deposits0.35%
Net loans and leases to core deposits 57.18%
Equity capital to assets 60.40%
Core capital (leverage) ratio 12.72%
Tier 1 risk-based capital ratio 11.08%
Total risk-based capital ratio 18.41%
Average assets$20
Average earning assets$239,764
Average equity $28,127
Average loans $218,568
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4 Alabama Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
074901Small Town Bank117 Main Street, Wedowee, AL 36278July 02, 1999Full Service Brick and Mortar
1418723Ranburne Branch21044 Main Street, Ranburne, AL 36273Febuary 10, 2003Full Service Brick and Mortar
244Roanoke Branch548 Main Street, Roanoke, AL 36274May 12, 1931Full Service Brick and Mortar
3462753Heflin Branch654 Ross Street, Heflin, AL 36264April 17, 2007Full Service Brick and Mortar
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