Southern States Bank in Anniston, Alabama (AL)



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Southern States Bank
GeneralFDIC Certificate #: 58558
Status: Active
Federal Reserve ID: 3629420
Bank Holding Company (Regulatory Top Holder): Southern States Bancshares, Inc. (RSSDID: 3818381, Location: Anniston, AL)
Date Established: August 27, 2007
WWW: http://www.southernstatesbank.net
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Domestic: 3, Interstate: No)
FDIC's unique #: 456290
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: August 27, 2007
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: 615 Quintard Avenue, Anniston, AL 36202
County: Calhoun
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
Metropolitan Statistical Area (MSA): Anniston, AL (#450)
Core Based Statistical Area (CBSA): Anniston-Oxford, AL (#11500)
CBSA Metro Statistical Area: Anniston-Oxford, AL (#11500)
History of ChangesChange in Geographic Region/Area/Territory/Field Office
Financial SummaryTotal assets: $212.7 mil
Equity capital: $36.5 mil
Deposits held in domestic offices: $175.6 mil
Return on assets (ROA): 0.45% ($1.0 mil)
Quarterly return on assets: 0.85% ($1.8 mil)
Return on Equity (ROE): 2.82% ($1.0 mil)
Quarterly return on equity: 4.93% ($1.8 mil)
Net income: $0.9 mil
Quarterly Net income: $0.4 mil
Pretax return on assets: 0.71% ($1,510.0 mil)
Quarterly Pretax return on assets: 1.33% ($2,828.6 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$212,679
Cash and due from depository institutions$10,298
Interest-bearing balances$6,301
Securities$15,242
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$171,060
Loan loss allowance $2,558
Trading account assets$0
Bank premises and fixed assets$9,114
Other real estate owned$918
Goodwill and other intangibles$0
All other assets$6,047
Life insurance assets$212,679
Total liabilities and capital$176,149
Total liabilities$175,568
Total deposits$153,661
Interest-bearing deposits$175,568
Deposits held in domestic offices$81
% insured (estimated)92.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $489
All other liabilities $36,530
Total equity capital$36,530
Total bank equity capital$36,530
Perpetual preferred stock$0
Common stock$15,939
Surplus$23,385
Undivided profits $-2,794
Memoranda
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 $0
Earning assets $0
Long-term assets (5+ years) $684
Average Assets, year-to-date $192,603
Average Assets, quarterly $28,381
Volatile liabilities $199,880
Insider loans $210,148
FHLB advances $186,386
Loans and leases held for sale $210,231
Unused loan commitments $2,019
Tier 1 (core) risk-based capital $606
Tier 2 risk-based capital $36,425
Total risk weighted assets $0
Total unused commitments $1,413
Restructured Loans and leases $21,868
Derivatives$4,486
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $10,277
Total interest expense $2,446
Net interest income $7,831
Provision for loan and lease losses $667
Total noninterest income $510
Fiduciary activities $0
Service charges on deposit accounts $154
Trading account gains & fees $0
Additional noninterest income $356
Total noninterest expense $6,326
Salaries and employee benefits $3,344
Premises and equipment expense $1,095
Additional noninterest expense $1,887
Pre-tax net operating income $1,348
Securities gains (losses) $69
Applicable income taxes $518
Income before extraordinary items $899
Extraordinary gains - net $0
Net income attributable to bank $899
Net charge-offs $0
Cash dividends $899
Sale, conversion, retirement of capital stock, net $346
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 assets5.65%
Cost of funding earning assets 1.34%
Net interest margin 4.30%
Noninterest income to earning assets 0.28%
Noninterest expense to earning assets 3.48%
Net operating income to assets 0.43%
Return on assets (ROA) 0.45%
Pretax return on assets 0.71%
Return on equity (ROE) 2.82%
Retained earnings to average equity (YTD only) 2.82%
Net charge-offs to loans 0.22%
Credit loss provision to net charge-offs 192.77%
Efficiency ratio5.82%
Assets per employee$75,842
Cash dividends to net income (YTD only)4.62%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.47%
Noncurrent assets plus other real estate owned to assets 0.00%
Noncurrent loans to loans 0.43%
Net loans and leases to deposits0.00%
Net loans and leases to core deposits 97.43%
Equity capital to assets 101.85%
Core capital (leverage) ratio 17.18%
Tier 1 risk-based capital ratio 17.33%
Total risk-based capital ratio 19.54%
Memoranda
Average assets$21
Average earning assets$199,880
Average equity $31,840
Average loans $181,991
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3 Alabama Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0456290Southern States Bank615 Quintard Avenue, Anniston, AL 36202August 27, 2007Full Service Brick and Mortar
2478481Birmingham Branch200 Office Park Drive, Suite 200, Birmingham, AL 35223Febuary 04, 2008Full Service Retail
3489408Opelika Branch2601 Frederick Road, Opelika, AL 36801Febuary 09, 2009Full Service Brick and Mortar
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