Spirit Bank in Belmont, Mississippi (MS)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of January 01, 2012

Spirit Bank - Overview

  • General
  • FDIC Certificate #: 34917
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Community Spirit Bank (#50)
    Federal Reserve ID: 2735959
    Bank Holding Company (Regulatory Top Holder): Independent Bancshares, Inc. Employee Stock Ownership Plan (RSSDID: 3587294, Location: Red Bay, AL)
    Date Established: January 25, 1999
    WWW: http://www.communityspiritbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Domestic: 1, Interstate: No)
    FDIC's unique #: 61980
    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: January 25, 1999
    Last Structure Change Effective Date: January 01, 2012
    Last Structure Change Process Date: January 11, 2012
    Last Data Update: January 11, 2012
    Data Source Date: April 05, 2012
  • Location
  • Address: 342 Second Street, Belmont, MS 38827
    County: Tishomingo
    Quarterly Banking Profile Region: Dallas
    FDIC Geographic Region: Dallas
    FDIC Supervisory Region: Dallas
    FDIC Field Office: Jackson Ms
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: West
  • Financial Summary
  • Total assets: $26.1 mil
    Equity capital: $2.4 mil
    Deposits held in domestic offices: $22.7 mil
    Return on assets (ROA): 0.47% ($0.1 mil)
    Quarterly return on assets: 0.81% ($0.2 mil)
    Return on Equity (ROE): 5.14% ($0.1 mil)
    Quarterly return on equity: 8.60% ($0.2 mil)
    Net income: $0.1 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: 0.52% ($135.5 mil)
    Quarterly Pretax return on assets: 1.07% ($278.9 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
  • 6Total employees (full-time equivalent)
  • $26,067Total assets
  • $4,304Cash and due from depository institutions
  • $3,359Interest-bearing balances
  • $10,029Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $10,329Net loans & leases
  • $138Loan loss allowance
  • $0Trading account assets
  • $963Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $26,067Life insurance assets
  • $442All other assets
  • $23,642Total liabilities and capital
  • $22,745Total liabilities
  • $18,582Total deposits
  • $22,745Interest-bearing deposits
  • $90Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $812Trading liabilities
  • $0Other borrowed funds
  • $85Subordinated debt
  • $2,425All other liabilities
  • $2,425Total equity capital
  • $2,425Total bank equity capital
  • $0Perpetual preferred stock
  • $1,000Common stock
  • $875Surplus
  • $550Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $0Earning assets
  • $90Long-term assets (5+ years)
  • $23,717Average Assets, year-to-date
  • $10,751Average Assets, quarterly
  • $25,396Volatile liabilities
  • $25,824Insider loans
  • $13,423FHLB advances
  • $26,284Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $2,363Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $1,165Restructured Loans and leases
  • $182Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $1,031Total interest income
  • $286Total interest expense
  • $745Net interest income
  • $21Provision for loan and lease losses
  • $163Total noninterest income
  • $0Fiduciary activities
  • $111Service charges on deposit accounts
  • $0Trading account gains & fees
  • $52Additional noninterest income
  • $788Total noninterest expense
  • $279Salaries and employee benefits
  • $151Premises and equipment expense
  • $358Additional noninterest expense
  • $99Pre-tax net operating income
  • $34Securities gains (losses)
  • $14Applicable income taxes
  • $119Income before extraordinary items
  • $0Extraordinary gains - net
  • $119Net income attributable to bank
  • $0Net charge-offs
  • $119Cash dividends
  • $3Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.46%Yield on earning assets
  • 1.24%Cost of funding earning assets
  • 3.23%Net interest margin
  • 0.71%Noninterest income to earning assets
  • 3.41%Noninterest expense to earning assets
  • 0.35%Net operating income to assets
  • 0.47%Return on assets (ROA)
  • 0.52%Pretax return on assets
  • 5.14%Return on equity (ROE)
  • 5.14%Retained earnings to average equity (YTD only)
  • 0.03%Net charge-offs to loans
  • 700.00%Credit loss provision to net charge-offs
  • 40.00%Efficiency ratio
  • 86,784Assets per employee
  • 4.34%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.32%Loss allowance to noncurrent loans
  • 0.00%Noncurrent assets plus other real estate owned to assets
  • 0.28%Noncurrent loans to loans
  • 0.00%Net loans and leases to deposits
  • 45.41%Net loans and leases to core deposits
  • 50.50%Equity capital to assets
  • 9.30%Core capital (leverage) ratio
  • 8.99%Tier 1 risk-based capital ratio
  • 17.60%Total risk-based capital ratio
  • Memoranda
  • $19Average assets
  • $25,396Average earning assets
  • $2,317Average equity
  • $23,096Average loans

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