The Citizens National Bank of Athens in Athens, Tennessee (TN)

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The Citizens National Bank of Athens
GeneralFDIC Certificate #: 4917
Status: Active
Federal Reserve ID: 673132
Bank Holding Company (Regulatory Top Holder): Citizens National Bancorp, Inc. (RSSDID: 1249589, Location: Athens, TN)
Date Established: May 06, 1915
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 9 (Domestic: 9, Interstate: No)
OTS Docket #: 10726
FDIC's unique #: 3264
Numeric code: 3
Regulator: OCC
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: No
Subchapter S Corporations: Yes
Asset Concentration Hierarchy: Commercial Lending 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: 208 South White Street, Athens, TN 37303
County: Mcminn
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): Athens, TN (#11940)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $534.9 mil
Equity capital: $51.9 mil
Deposits held in domestic offices: $464.3 mil
Return on assets (ROA): -0.28% (-$1.5 mil)
Quarterly return on assets: -0.32% (-$1.7 mil)
Return on Equity (ROE): -2.96% (-$1.5 mil)
Quarterly return on equity: -3.28% (-$1.7 mil)
Net income: -$1.5 mil
Quarterly Net income: -$0.4 mil
Pretax return on assets: -0.29% (-$1,551.3 mil)
Quarterly Pretax return on assets: -0.46% (-$2,460.8 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)144
Total assets$534,947
Cash and due from depository institutions$30,288
Interest-bearing balances$26,530
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$383,618
Loan loss allowance $11,285
Trading account assets$0
Bank premises and fixed assets$5,573
Other real estate owned$18,238
Goodwill and other intangibles$5
All other assets$11,469
Life insurance assets$534,947
Total liabilities and capital$483,066
Total liabilities$464,295
Total deposits$440,590
Interest-bearing deposits$464,295
Deposits held in domestic offices$89
% insured (estimated)13157.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$4,154
Other borrowed funds $0
Subordinated debt $1,460
All other liabilities $51,881
Total equity capital$51,881
Total bank equity capital$51,881
Perpetual preferred stock$0
Common stock$594
Undivided profits $46,595
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 $37,505
Earning assets $0
Long-term assets (5+ years) $1,987
Average Assets, year-to-date $495,904
Average Assets, quarterly $51,244
Volatile liabilities $546,193
Insider loans $540,187
FHLB advances $394,389
Loans and leases held for sale $543,457
Unused loan commitments $6,453
Tier 1 (core) risk-based capital $4,093
Tier 2 risk-based capital $51,141
Total risk weighted assets $0
Total unused commitments $2,360
Restructured Loans and leases $50,733
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $24,742
Total interest expense $5,855
Net interest income $18,887
Provision for loan and lease losses $7,448
Total noninterest income $773
Fiduciary activities $768
Service charges on deposit accounts $1,391
Trading account gains & fees $0
Additional noninterest income -$1,386
Total noninterest expense $13,793
Salaries and employee benefits $7,517
Premises and equipment expense $829
Additional noninterest expense $5,447
Pre-tax net operating income -$1,581
Securities gains (losses) $17
Applicable income taxes -$16
Income before extraordinary items -$1,548
Extraordinary gains - net $0
Net income attributable to bank -$1,548
Net charge-offs $0
Cash dividends -$1,548
Sale, conversion, retirement of capital stock, net $7,093
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 assets4.87%
Cost of funding earning assets 1.15%
Net interest margin 3.72%
Noninterest income to earning assets 0.15%
Noninterest expense to earning assets 2.72%
Net operating income to assets -0.29%
Return on assets (ROA) -0.28%
Pretax return on assets -0.29%
Return on equity (ROE) -2.96%
Retained earnings to average equity (YTD only) -2.96%
Net charge-offs to loans 1.72%
Credit loss provision to net charge-offs 105.00%
Efficiency ratio0.83%
Assets per employee$70,127
Cash dividends to net income (YTD only)3.71%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.86%
Noncurrent assets plus other real estate owned to assets 30.09%
Noncurrent loans to loans 10.42%
Net loans and leases to deposits9.50%
Net loans and leases to core deposits 82.62%
Equity capital to assets 88.72%
Core capital (leverage) ratio 9.70%
Tier 1 risk-based capital ratio 9.41%
Total risk-based capital ratio 12.97%
Average assets$14
Average earning assets$546,193
Average equity $52,350
Average loans $507,567
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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$122,788
Number of Accounts1
Personal trust and agency accounts$85,823
Employee benefit-defined contribution accounts$48,206
Employee benefit-defined benefit accounts$6,534
Other retirement accounts$0
Corporate trust and agency accounts$10,610
Investment management agency accounts$0
Other fiduciary accounts$20,473
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts289
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$10,610
Employee benefit-defined benefit accounts$0
Other retirement accounts$36,965
Corporate trust and agency accounts$1,868
Other fiduciary accounts$21,026
Fiduciary accounts held in foreign offices$11,101
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9 Tennessee Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
03264The Citizens National Bank Of Athens208 South White Street, Athens, TN 37303May 06, 1915Full Service Brick and Mortar
2205533South Congress Branch1612 South Congress Parkway, Athens, TN 37303April 03, 1978Full Service Brick and Mortar
3968Tellico Plains BranchRoute 3, Box 22a, Tellico Plains, TN 37385January 01, 1920Full Service Brick and Mortar
4189545Madisonville BranchHighway 411 North, Madisonville, TN 37354November 19, 1973Full Service Brick and Mortar
5189546Sweetwater Branch304 Highway 68 West, Sweetwater, TN 37874April 22, 1974Full Service Brick and Mortar
7205535Etowah Branch843 Highway 411 North, Etowah, TN 37331November 17, 1993Full Service Retail
8205536Kingston Office Branch202 North Kentucky Street, Kingston, TN 37763July 03, 1998Full Service Brick and Mortar
9357102Vonore Branch1215 Highway 411, Vonore, TN 37885June 30, 2000Full Service Brick and Mortar
10465240Oak Ridge Branch21 Jefferson Avenue, Oak Ridge, TN 37830July 31, 2006Full Service Brick and Mortar
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