The Citizens National Bank of Somerset in Somerset, Kentucky (KY)
Overview, Financial Summary, Detailed Financial Reports, Branches

The Citizens National Bank of Somerset - Overview

  • General
  • FDIC Certificate #: 2725
    Status: Active
    Federal Reserve ID: 410917
    Bank Holding Company (Regulatory Top Holder): Citizens Bancshares, Inc. (RSSDID: 1070484, Location: Somerset, KY)
    Date Established: January 01, 1919
    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: 10 (Domestic: 10, Interstate: No)
    FDIC's unique #: 1767
    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
  • Location
  • Address: 44 Public Square, Somerset, KY 42501
    County: Pulaski
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Lexington
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: Southeast
    Core Based Statistical Area (CBSA): Somerset, KY (#43700)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $329.4 mil
    Equity capital: $38.6 mil
    Deposits held in domestic offices: $267.4 mil
    Return on assets (ROA): 1.45% ($4.8 mil)
    Quarterly return on assets: 0.28% ($0.9 mil)
    Return on Equity (ROE): 12.79% ($5.0 mil)
    Quarterly return on equity: 2.39% ($0.9 mil)
    Net income: $4.8 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 1.45% ($4,775.6 mil)
    Quarterly Pretax return on assets: 0.28% ($922.2 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
  • 122Total employees (full-time equivalent)
  • $329,353Total assets
  • $5,757Cash and due from depository institutions
  • $173Interest-bearing balances
  • $124,235Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $184,579Net loans & leases
  • $3,375Loan loss allowance
  • $0Trading account assets
  • $4,409Bank premises and fixed assets
  • $6,856Other real estate owned
  • $0Goodwill and other intangibles
  • $329,353Life insurance assets
  • $3,517All other assets
  • $290,734Total liabilities and capital
  • $267,367Total liabilities
  • $206,940Total deposits
  • $267,367Interest-bearing deposits
  • $97Deposits held in domestic offices
  • 22884.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $483Subordinated debt
  • $38,619All other liabilities
  • $38,619Total equity capital
  • $38,619Total bank equity capital
  • $0Perpetual preferred stock
  • $790Common stock
  • $2,000Surplus
  • $35,829Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,499Income earned, not collected on loans
  • $0Earning assets
  • $1,338Long-term assets (5+ years)
  • $308,987Average Assets, year-to-date
  • $191,247Average Assets, quarterly
  • $329,072Volatile liabilities
  • $327,855Insider loans
  • $189,896FHLB advances
  • $334,178Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $38,815Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $23,556Restructured Loans and leases
  • $4,539Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $14,441Total interest income
  • $2,063Total interest expense
  • $12,378Net interest income
  • $335Provision for loan and lease losses
  • $3,230Total noninterest income
  • $96Fiduciary activities
  • $1,514Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,620Additional noninterest income
  • $11,171Total noninterest expense
  • $5,775Salaries and employee benefits
  • $1,514Premises and equipment expense
  • $3,882Additional noninterest expense
  • $4,102Pre-tax net operating income
  • $672Securities gains (losses)
  • $0Applicable income taxes
  • $4,774Income before extraordinary items
  • $0Extraordinary gains - net
  • $4,774Net income attributable to bank
  • $0Net charge-offs
  • $4,774Cash dividends
  • -$51Sale, conversion, retirement of capital stock, net
  • $3,811Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.67%Yield on earning assets
  • 0.67%Cost of funding earning assets
  • 4.00%Net interest margin
  • 1.04%Noninterest income to earning assets
  • 3.61%Noninterest expense to earning assets
  • 1.25%Net operating income to assets
  • 1.45%Return on assets (ROA)
  • 1.45%Pretax return on assets
  • 12.79%Return on equity (ROE)
  • 2.58%Retained earnings to average equity (YTD only)
  • -0.03%Net charge-offs to loans
  • -656.86%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 71,572Assets per employee
  • 2.70%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 79.83%Loss allowance to loans
  • 1.80%Loss allowance to noncurrent loans
  • 135.05%Noncurrent assets plus other real estate owned to assets
  • 2.84%Noncurrent loans to loans
  • 1.33%Net loans and leases to deposits
  • 69.04%Net loans and leases to core deposits
  • 72.18%Equity capital to assets
  • 11.73%Core capital (leverage) ratio
  • 11.62%Tier 1 risk-based capital ratio
  • 20.44%Total risk-based capital ratio
  • Memoranda
  • $22Average assets
  • $329,072Average earning assets
  • $37,330Average equity
  • $309,305Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $17,839Managed Assets
  • 1Number of Accounts
  • $10,493Personal trust and agency accounts
  • $10,449Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $44Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 37Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $7,346Other retirement accounts
  • $0Corporate trust and agency accounts
  • $2,250Other fiduciary accounts
  • $1,630Fiduciary accounts held in foreign offices

List of branches

  • 10 Kentucky Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    01767The Citizens National Bank Of Somers44 Public Square, Somerset, KY 42501January 01, 1919Full Service Brick and Mortar
    1194002Plaza BranchHighway 27, Somerset, KY 42501June 19, 1972Full Service Brick and Mortar
    2194003Burnside Branch6000 South U.S. Highway 27, Burnside, KY 42519October 04, 1976Full Service Brick and Mortar
    3194004Somerset Mall BranchSouth Highway 27, Somerset, KY 42501October 21, 1981Full Service Brick and Mortar
    4194005Citizens 27 Branch401 South Highway 27, Somerset, KY 42501April 02, 1984Full Service Brick and Mortar
    5194006Coffman Building Branch107 East Mt. Vernon Street, Somerset, KY 42501December 07, 1987Limited Service Consumer Credit
    6194007Waitsboro Branch4145 South Highway 27, Somerset, KY 42501December 07, 1998Full Service Brick and Mortar
    7194008Nancy Branch9140 West Highway 80, Nancy, KY 42544December 01, 1999Full Service Brick and Mortar
    8360491Science Hill Branch110 West Highway 635, Science Hill, KY 42553April 02, 2001Full Service Brick and Mortar
    9498645Monticello Branch181 Cumberland Crossing, Monticello, KY 42633November 09, 2009Full Service Brick and Mortar

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