The Citizens State Bank of Cortez in Cortez, Colorado (CO)
Overview, Financial Summary, Detailed Financial Reports, Branches


The Citizens State Bank of Cortez - Overview

  • General
  • FDIC Certificate #: 15642
    Status: Active
    Federal Reserve ID: 782650
    Bank Holding Company (Regulatory Top Holder): Community Bankshares, Inc. (RSSDID: 1427501, Location: Greenwood Village, CO)
    Date Established: June 01, 1936
    WWW: http://www.citizensstate.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 2 (Domestic: 2, Interstate: No)
    OTS Docket #: 13538
    FDIC's unique #: 9921
    Numeric code: 13
    Regulator: FED
    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: January 27, 1939
    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: 77 West Main Street, Cortez, CO 81321
    County: Montezuma
    Quarterly Banking Profile Region: Dallas
    FDIC Geographic Region: Dallas
    FDIC Supervisory Region: Dallas
    FDIC Field Office: Denver
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $76.2 mil
    Equity capital: $9.0 mil
    Deposits held in domestic offices: $64.8 mil
    Return on assets (ROA): 0.57% ($0.4 mil)
    Quarterly return on assets: 0.60% ($0.5 mil)
    Return on Equity (ROE): 5.12% ($0.5 mil)
    Quarterly return on equity: 5.29% ($0.5 mil)
    Net income: $0.4 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: 0.91% ($693.1 mil)
    Quarterly Pretax return on assets: 0.98% ($746.4 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
  • 26Total employees (full-time equivalent)
  • $76,160Total assets
  • $11,415Cash and due from depository institutions
  • $8,946Interest-bearing balances
  • $9,025Securities
  • $5,275Federal funds sold & reverse repurchase agreements
  • $47,122Net loans & leases
  • $1,237Loan loss allowance
  • $0Trading account assets
  • $1,715Bank premises and fixed assets
  • $304Other real estate owned
  • $60Goodwill and other intangibles
  • $76,161Life insurance assets
  • $1,244All other assets
  • $67,179Total liabilities and capital
  • $64,778Total liabilities
  • $41,540Total deposits
  • $64,778Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 1682.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $474Trading liabilities
  • $0Other borrowed funds
  • $245Subordinated debt
  • $8,982All other liabilities
  • $8,982Total equity capital
  • $8,982Total bank equity capital
  • $0Perpetual preferred stock
  • $836Common stock
  • $15,454Surplus
  • $-7,308Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $628Income earned, not collected on loans
  • $0Earning assets
  • $310Long-term assets (5+ years)
  • $70,368Average Assets, year-to-date
  • $9,193Average Assets, quarterly
  • $78,799Volatile liabilities
  • $78,052Insider loans
  • $45,852FHLB advances
  • $77,708Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $8,957Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $6,597Restructured Loans and leases
  • $1,434Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $3,039Total interest income
  • $565Total interest expense
  • $2,474Net interest income
  • $15Provision for loan and lease losses
  • $716Total noninterest income
  • $0Fiduciary activities
  • $500Service charges on deposit accounts
  • $0Trading account gains & fees
  • $216Additional noninterest income
  • $2,457Total noninterest expense
  • $1,190Salaries and employee benefits
  • $474Premises and equipment expense
  • $793Additional noninterest expense
  • $718Pre-tax net operating income
  • $0Securities gains (losses)
  • $270Applicable income taxes
  • $448Income before extraordinary items
  • $0Extraordinary gains - net
  • $448Net income attributable to bank
  • $0Net charge-offs
  • $448Cash dividends
  • $261Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.16%Yield on earning assets
  • 0.77%Cost of funding earning assets
  • 3.38%Net interest margin
  • 0.98%Noninterest income to earning assets
  • 3.36%Noninterest expense to earning assets
  • 0.57%Net operating income to assets
  • 0.57%Return on assets (ROA)
  • 0.91%Pretax return on assets
  • 5.12%Return on equity (ROE)
  • 5.12%Retained earnings to average equity (YTD only)
  • 0.49%Net charge-offs to loans
  • 5.75%Credit loss provision to net charge-offs
  • 2.81%Efficiency ratio
  • 77,022Assets per employee
  • 2.93%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.56%Loss allowance to noncurrent loans
  • 196.97%Noncurrent assets plus other real estate owned to assets
  • 1.22%Noncurrent loans to loans
  • 1.30%Net loans and leases to deposits
  • 72.74%Net loans and leases to core deposits
  • 76.86%Equity capital to assets
  • 11.79%Core capital (leverage) ratio
  • 11.53%Tier 1 risk-based capital ratio
  • 19.53%Total risk-based capital ratio
  • Memoranda
  • $21Average assets
  • $78,799Average earning assets
  • $8,746Average equity
  • $73,108Average loans

List of branches

  • 2 Colorado Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    09921The Citizens State Bank Of Cortez77 West Main Street, Cortez, CO 81321June 01, 1936Full Service Brick and Mortar
    2363993Wal-Mart Supercenter Branch1835 East Main Cortez, Cortez, CO 81321January 26, 2000Full Service Retail

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