Sweet Water State Bank in Sweet Water, Alabama (AL)



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Sweet Water State Bank
GeneralFDIC Certificate #: 9615
Status: Active
Federal Reserve ID: 253730
Bank Holding Company (Regulatory Top Holder): Tombigbee Bancshares, Inc. (RSSDID: 3346745, Location: Sweet Water, AL)
Date Established: January 01, 1913
WWW: http://www.sweetwaterstbk.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Domestic: 4, Interstate: No)
OTS Docket #: 15506
FDIC's unique #: 6143
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Agricultural lending institution: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: Yes
Asset Concentration Hierarchy: Agricultural Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 31385 Alabama Highway 10, Sweet Water, AL 36782
County: Marengo
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Montgomery
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $88.6 mil
Equity capital: $8.1 mil
Deposits held in domestic offices: $77.3 mil
Return on assets (ROA): 1.10% ($1.0 mil)
Quarterly return on assets: 1.14% ($1.0 mil)
Return on Equity (ROE): 11.87% ($0.9 mil)
Quarterly return on equity: 12.21% ($1.0 mil)
Net income: $0.9 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 1.10% ($974.5 mil)
Quarterly Pretax return on assets: 1.14% ($1,010.0 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)
Total employees (full-time equivalent)34
Total assets$88,593
Cash and due from depository institutions$5,425
Interest-bearing balances$516
Securities$9,226
Federal funds sold & reverse repurchase agreements$2,225
Net loans & leases$63,989
Loan loss allowance $754
Trading account assets$0
Bank premises and fixed assets$4,046
Other real estate owned$354
Goodwill and other intangibles$0
All other assets$3,328
Life insurance assets$88,593
Total liabilities and capital$80,461
Total liabilities$77,260
Total deposits$65,125
Interest-bearing deposits$77,260
Deposits held in domestic offices$89
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$3,000
Other borrowed funds $0
Subordinated debt $201
All other liabilities $8,132
Total equity capital$8,132
Total bank equity capital$8,132
Perpetual preferred stock$0
Common stock$300
Surplus$6,200
Undivided profits $1,632
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 $463
Earning assets $0
Long-term assets (5+ years) $854
Average Assets, year-to-date $75,956
Average Assets, quarterly $8,315
Volatile liabilities $84,380
Insider loans $87,008
FHLB advances $70,482
Loans and leases held for sale $83,295
Unused loan commitments $2,029
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $7,679
Total risk weighted assets $2,029
Total unused commitments $0
Restructured Loans and leases $9,204
Derivatives$2,068
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $4,663
Total interest expense $685
Net interest income $3,978
Provision for loan and lease losses $350
Total noninterest income $754
Fiduciary activities $0
Service charges on deposit accounts $582
Trading account gains & fees $0
Additional noninterest income $172
Total noninterest expense $3,452
Salaries and employee benefits $1,746
Premises and equipment expense $401
Additional noninterest expense $1,305
Pre-tax net operating income $930
Securities gains (losses) $0
Applicable income taxes $0
Income before extraordinary items $930
Extraordinary gains - net $0
Net income attributable to bank $930
Net charge-offs $0
Cash dividends $930
Sale, conversion, retirement of capital stock, net $240
Net operating income $604
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.32%
Cost of funding earning assets 0.93%
Net interest margin 5.39%
Noninterest income to earning assets 1.02%
Noninterest expense to earning assets 4.68%
Net operating income to assets 1.10%
Return on assets (ROA) 1.10%
Pretax return on assets 1.10%
Return on equity (ROE) 11.87%
Retained earnings to average equity (YTD only) 4.16%
Net charge-offs to loans 0.38%
Credit loss provision to net charge-offs 145.83%
Efficiency ratio5.33%
Assets per employee$72,950
Cash dividends to net income (YTD only)2.61%
Condition Ratios (%)
Loss allowance to loans 64.95%
Loss allowance to noncurrent loans 1.16%
Noncurrent assets plus other real estate owned to assets 162.85%
Noncurrent loans to loans 0.92%
Net loans and leases to deposits0.72%
Net loans and leases to core deposits 82.82%
Equity capital to assets 90.22%
Core capital (leverage) ratio 9.18%
Tier 1 risk-based capital ratio 9.22%
Total risk-based capital ratio 10.89%
Memoranda
Average assets$12
Average earning assets$84,380
Average equity $7,835
Average loans $73,784
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4 Alabama Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
06143Sweet Water State Bank31385 Alabama Highway 10, Sweet Water, AL 36782January 01, 1913Full Service Brick and Mortar
1220693Linden Branch206 South Main Street, Linden, AL 36748November 01, 1985Full Service Brick and Mortar
2220694Thomasville Branch33821 Highway 43, Thomasville, AL 36784August 27, 1997Full Service Brick and Mortar
3490674Demopolis Branch1202 Osgood Loop, Demopolis, AL 36732April 06, 2009Full Service Brick and Mortar
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