SouthFirst Bank in Sylacauga, Alabama (AL)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • SouthFirst Bank in Sylacauga, Alabama (AL)
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SouthFirst Bank - Overview

  • General
  • FDIC Certificate #: 30433
    Status: Active
    Federal Reserve ID: 455477
    Date Established: October 18, 1949
    WWW: http://www.southfirst.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 3 (Domestic: 3, Interstate: No)
    OTS Docket #: 5329
    FDIC's unique #: 43267
    Numeric code: 37
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: October 18, 1949
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 126 N Norton Ave, Sylacauga, AL 35150
    County: Talladega
    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
    Core Based Statistical Area (CBSA): Talladega-Sylacauga, AL (#45180)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $125.0 mil
    Equity capital: $7.4 mil
    Deposits held in domestic offices: $109.3 mil
    Return on assets (ROA): -2.23% (-$2.8 mil)
    Quarterly return on assets: 0.33% ($0.4 mil)
    Return on Equity (ROE): -32.26% (-$2.3 mil)
    Quarterly return on equity: 5.74% ($0.4 mil)
    Net income: -$2.9 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: -0.22% (-$275.0 mil)
    Quarterly Pretax return on assets: 0.33% ($412.5 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
  • 33Total employees (full-time equivalent)
  • $124,993Total assets
  • $16,151Cash and due from depository institutions
  • $14,339Interest-bearing balances
  • $8,806Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $89,513Net loans & leases
  • $1,251Loan loss allowance
  • $0Trading account assets
  • $1,859Bank premises and fixed assets
  • $4,488Other real estate owned
  • $37Goodwill and other intangibles
  • $124,993Life insurance assets
  • $4,139All other assets
  • $117,579Total liabilities and capital
  • $109,285Total liabilities
  • $103,484Total deposits
  • $109,285Interest-bearing deposits
  • $90Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $7,000Trading liabilities
  • $0Other borrowed funds
  • $1,294Subordinated debt
  • $7,414All other liabilities
  • $7,414Total equity capital
  • $7,414Total bank equity capital
  • $0Perpetual preferred stock
  • $1Common stock
  • $8,840Surplus
  • $-1,427Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $436Income earned, not collected on loans
  • $0Earning assets
  • $371Long-term assets (5+ years)
  • $112,658Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $129,701Volatile liabilities
  • $127,274Insider loans
  • $87,332FHLB advances
  • $124,991Loans and leases held for sale
  • $2,080Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $7,412Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $14,414Restructured Loans and leases
  • $49Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,033Total interest income
  • $1,863Total interest expense
  • $4,170Net interest income
  • $545Provision for loan and lease losses
  • $1,356Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,356Additional noninterest income
  • $5,260Total noninterest expense
  • $2,138Salaries and employee benefits
  • $1,163Premises and equipment expense
  • $1,959Additional noninterest expense
  • -$279Pre-tax net operating income
  • $0Securities gains (losses)
  • $2,615Applicable income taxes
  • -$2,894Income before extraordinary items
  • $0Extraordinary gains - net
  • -$2,894Net income attributable to bank
  • $0Net charge-offs
  • -$2,894Cash dividends
  • $720Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.26%Yield on earning assets
  • 1.63%Cost of funding earning assets
  • 3.64%Net interest margin
  • 1.18%Noninterest income to earning assets
  • 4.59%Noninterest expense to earning assets
  • -2.23%Net operating income to assets
  • -2.23%Return on assets (ROA)
  • -0.22%Pretax return on assets
  • -32.26%Return on equity (ROE)
  • -32.26%Retained earnings to average equity (YTD only)
  • 0.76%Net charge-offs to loans
  • 75.69%Credit loss provision to net charge-offs
  • 0.37%Efficiency ratio
  • 95,186Assets per employee
  • 3.79%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.38%Loss allowance to noncurrent loans
  • 286.93%Noncurrent assets plus other real estate owned to assets
  • 3.94%Noncurrent loans to loans
  • 0.48%Net loans and leases to deposits
  • 81.91%Net loans and leases to core deposits
  • 88.15%Equity capital to assets
  • 5.93%Core capital (leverage) ratio
  • 5.93%Tier 1 risk-based capital ratio
  • 8.49%Total risk-based capital ratio
  • Memoranda
  • $10Average assets
  • $129,701Average earning assets
  • $8,971Average equity
  • $114,588Average loans

Total Fiduciary and Related Assets (December 31, 2007)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $9,370Managed Assets
  • 1Number 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
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 10Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $9,370Other retirement accounts
  • $0Corporate trust and agency accounts
  • $9,370Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 3 Alabama Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    043267Southfirst Bank126 N Norton Ave, Sylacauga, AL 35150October 18, 1949Full Service Brick and Mortar
    1280385301 W North St Branch301 West North Street, Talladega, AL 35160October 18, 1949Full Service Brick and Mortar
    244245102 5th Street North Branch105 5th Street North, Clanton, AL 35045August 12, 1963Full Service Brick and Mortar

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