Southern Heritage Bank in Cleveland, Tennessee (TN)



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Southern Heritage Bank
GeneralFDIC Certificate #: 35093
Status: Active
Federal Reserve ID: 2798897
Bank Holding Company (Regulatory Top Holder): Southern Heritage Bancshares, Inc. (RSSDID: 3262779, Location: Cleveland, TN)
Date Established: April 12, 1999
WWW: http://www.southernheritagebank.com
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 #: 74671
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: April 12, 1999
Last Structure Change Effective Date: May 02, 2006
Last Structure Change Process Date: May 12, 2006
Last Data Update: May 12, 2006
Data Source Date: April 05, 2012
LocationAddress: 3020 Keith Street, Cleveland, TN 37312
County: Bradley
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
Combined Statistical Area (CSA): Chattanooga-Cleveland-Athens, TN-GA (#174)
Core Based Statistical Area (CBSA): Cleveland, TN (#17420)
CBSA Metro Statistical Area: Cleveland, TN (#17420)
Financial SummaryTotal assets: $223.7 mil
Equity capital: $28.3 mil
Deposits held in domestic offices: $193.2 mil
Return on assets (ROA): 1.07% ($2.4 mil)
Quarterly return on assets: 0.69% ($1.5 mil)
Return on Equity (ROE): 8.73% ($2.4 mil)
Quarterly return on equity: 5.55% ($1.6 mil)
Net income: $2.3 mil
Quarterly Net income: $0.4 mil
Pretax return on assets: 1.45% ($3,243.0 mil)
Quarterly Pretax return on assets: 0.88% ($1,968.1 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)65
Total assets$223,653
Cash and due from depository institutions$12,998
Interest-bearing balances$101
Securities$55,893
Federal funds sold & reverse repurchase agreements$4,516
Net loans & leases$140,206
Loan loss allowance $2,594
Trading account assets$0
Bank premises and fixed assets$4,516
Other real estate owned$1,959
Goodwill and other intangibles$0
All other assets$3,565
Life insurance assets$223,653
Total liabilities and capital$195,357
Total liabilities$193,156
Total deposits$159,910
Interest-bearing deposits$193,156
Deposits held in domestic offices$89
% insured (estimated)808.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $1,393
All other liabilities $28,296
Total equity capital$28,296
Total bank equity capital$28,296
Perpetual preferred stock$0
Common stock$1,025
Surplus$19,310
Undivided profits $7,961
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $2,534
Income earned, not collected on loans $2,322
Earning assets $0
Long-term assets (5+ years) $1,030
Average Assets, year-to-date $200,716
Average Assets, quarterly $59,638
Volatile liabilities $217,134
Insider loans $225,269
FHLB advances $169,018
Loans and leases held for sale $223,358
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $27,349
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $30,037
Derivatives$11,003
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $9,642
Total interest expense $1,803
Net interest income $7,839
Provision for loan and lease losses $680
Total noninterest income $2,624
Fiduciary activities $2
Service charges on deposit accounts $549
Trading account gains & fees $0
Additional noninterest income $2,073
Total noninterest expense $6,784
Salaries and employee benefits $3,612
Premises and equipment expense $765
Additional noninterest expense $2,407
Pre-tax net operating income $2,999
Securities gains (losses) $157
Applicable income taxes $833
Income before extraordinary items $2,323
Extraordinary gains - net $0
Net income attributable to bank $2,323
Net charge-offs $0
Cash dividends $2,323
Sale, conversion, retirement of capital stock, net $1,416
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 assets4.96%
Cost of funding earning assets 0.93%
Net interest margin 4.03%
Noninterest income to earning assets 1.35%
Noninterest expense to earning assets 3.49%
Net operating income to assets 1.02%
Return on assets (ROA) 1.07%
Pretax return on assets 1.45%
Return on equity (ROE) 8.73%
Retained earnings to average equity (YTD only) 8.73%
Net charge-offs to loans 1.00%
Credit loss provision to net charge-offs 48.02%
Efficiency ratio2.60%
Assets per employee$64,838
Cash dividends to net income (YTD only)3.44%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.82%
Noncurrent assets plus other real estate owned to assets 111.71%
Noncurrent loans to loans 1.91%
Net loans and leases to deposits1.63%
Net loans and leases to core deposits 72.59%
Equity capital to assets 78.23%
Core capital (leverage) ratio 12.65%
Tier 1 risk-based capital ratio 12.24%
Total risk-based capital ratio 16.18%
Memoranda
Average assets$17
Average earning assets$217,134
Average equity $26,598
Average loans $194,410
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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$296
Number of Accounts1
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts1
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$296
Corporate trust and agency accounts$296
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
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3 Tennessee Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
074671Southern Heritage Bank3020 Keith Street, Cleveland, TN 37312April 12, 1999Full Service Brick and Mortar
1340776Waterville Springs Office Branch2530 Dalton Pike, Cleveland, TN 37323April 25, 2000Full Service Brick and Mortar
2360771Georgetown Branch3795 Georgetown Road, Cleveland, TN 37312March 07, 2001Full Service Brick and Mortar
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