The Farmers Bank in Portland, Tennessee (TN)
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| The Farmers Bank | |
|---|---|
| General | FDIC Certificate #: 1696 Status: Active Federal Reserve ID: 901938 Bank Holding Company (Regulatory Top Holder): First Farmers Bancshares, Inc. (RSSDID: 1086122, Location: Portland, TN) Date Established: July 12, 1912 WWW: http://www.thefarmersbank.net Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 10 (Domestic: 10, Interstate: No) OTS Docket #: 10900 FDIC's unique #: 1118 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: Commercial Lending Specialization Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: September 29, 2006 Last Structure Change Process Date: September 05, 2007 Last Data Update: September 05, 2007 Data Source Date: April 05, 2012 |
| Location | Address: 120 Village Drive, Portland, TN 37148 County: Sumner Quarterly Banking Profile Region: Dallas FDIC Geographic Region: Dallas FDIC Supervisory Region: Dallas FDIC Field Office: Nashville Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast Metropolitan Statistical Area (MSA): Nashville, TN (#5360) Combined Statistical Area (CSA): Nashville-Davidson-Murfreesboro-Columbia, TN (#400) Core Based Statistical Area (CBSA): Nashville-Davidson-Murfreesboro-Franklin, TN (#34980) CBSA Metro Statistical Area: Nashville-Davidson-Murfreesboro-Franklin, TN (#34980) |
| History of Changes | Office Purchased |
| Financial Summary | Total assets: $520.2 mil Equity capital: $53.6 mil Deposits held in domestic offices: $433.0 mil Return on assets (ROA): 0.49% ($2.5 mil) Quarterly return on assets: 0.15% ($0.8 mil) Return on Equity (ROE): 4.93% ($2.7 mil) Quarterly return on equity: 1.41% ($0.8 mil) Net income: $2.6 mil Quarterly Net income: $0.2 mil Pretax return on assets: 0.60% ($3,121.4 mil) Quarterly Pretax return on assets: 0.04% ($208.1 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 142 |
| Total assets | $520,229 |
| Cash and due from depository institutions | $15,959 |
| Interest-bearing balances | $10,459 |
| Securities | $130,148 |
| Federal funds sold & reverse repurchase agreements | $24,995 |
| Net loans & leases | $322,322 |
| Loan loss allowance | $6,750 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $7,856 |
| Other real estate owned | $6,069 |
| Goodwill and other intangibles | $2,593 |
| All other assets | $10,287 |
| Life insurance assets | $520,229 |
| Total liabilities and capital | $466,638 |
| Total liabilities | $433,005 |
| Total deposits | $370,225 |
| Interest-bearing deposits | $433,005 |
| Deposits held in domestic offices | $87 |
| % insured (estimated) | 3031.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $26,000 |
| Other borrowed funds | $0 |
| Subordinated debt | $4,602 |
| All other liabilities | $53,591 |
| Total equity capital | $53,591 |
| Total bank equity capital | $53,591 |
| Perpetual preferred stock | $0 |
| Common stock | $750 |
| Surplus | $770 |
| Undivided profits | $52,071 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $636 |
| Income earned, not collected on loans | $23,584 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $3,194 |
| Average Assets, year-to-date | $487,924 |
| Average Assets, quarterly | $131,725 |
| Volatile liabilities | $536,383 |
| Insider loans | $522,640 |
| FHLB advances | $347,352 |
| Loans and leases held for sale | $510,369 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $49,797 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $35,811 |
| Derivatives | $5,083 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $26,883 |
| Total interest expense | $5,584 |
| Net interest income | $21,299 |
| Provision for loan and lease losses | $6,693 |
| Total noninterest income | $3,783 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $2,799 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $984 |
| Total noninterest expense | $15,651 |
| Salaries and employee benefits | $8,861 |
| Premises and equipment expense | $1,824 |
| Additional noninterest expense | $4,966 |
| Pre-tax net operating income | $2,738 |
| Securities gains (losses) | $458 |
| Applicable income taxes | $583 |
| Income before extraordinary items | $2,613 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $2,613 |
| Net charge-offs | $0 |
| Cash dividends | $2,613 |
| Sale, conversion, retirement of capital stock, net | $4,865 |
| Net operating income | $1,752 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.33% |
| Cost of funding earning assets | 1.11% |
| Net interest margin | 4.22% |
| Noninterest income to earning assets | 0.75% |
| Noninterest expense to earning assets | 3.10% |
| Net operating income to assets | 0.42% |
| Return on assets (ROA) | 0.49% |
| Pretax return on assets | 0.60% |
| Return on equity (ROE) | 4.93% |
| Retained earnings to average equity (YTD only) | 1.63% |
| Net charge-offs to loans | 1.42% |
| Credit loss provision to net charge-offs | 137.57% |
| Efficiency ratio | 1.94% |
| Assets per employee | $62,168 |
| Cash dividends to net income (YTD only) | 3.66% |
| Condition Ratios (%) | |
| Loss allowance to loans | 67.05% |
| Loss allowance to noncurrent loans | 2.05% |
| Noncurrent assets plus other real estate owned to assets | 28.62% |
| Noncurrent loans to loans | 5.70% |
| Net loans and leases to deposits | 7.17% |
| Net loans and leases to core deposits | 74.44% |
| Equity capital to assets | 79.58% |
| Core capital (leverage) ratio | 10.30% |
| Tier 1 risk-based capital ratio | 9.76% |
| Total risk-based capital ratio | 14.34% |
| Memoranda | |
| Average assets | $16 |
| Average earning assets | $536,383 |
| Average equity | $52,968 |
| Average loans | $504,192 |
| 10 Tennessee Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 1118 | The Farmers Bank | 120 Village Drive, Portland, TN 37148 | July 12, 1912 | Full Service Brick and Mortar |  |
| 1 | 190001 | White House Branch | 2790 Highway 31-W, White House, TN 37188 | December 13, 1950 | Limited Service Facility |  |
| 3 | 190003 | White House Branch | 515 Highway 76, White House, TN 37188 | November 29, 1982 | Full Service Brick and Mortar | |
| 4 | 15266 | Springfield Branch | 1203 Memorial Boulevard, Springfield, TN 37172 | May 12, 1975 | Full Service Brick and Mortar | |
| 6 | 190004 | Ridgetop Branch | 1765 Hwy 41 South, Ridgetop, TN 37152 | December 30, 1988 | Full Service Brick and Mortar | |
| 7 | 208713 | Portland North Broadway Branch | 107 North Broadway, Portland, TN 37148 | June 22, 1964 | Full Service Brick and Mortar | |
| 8 | 427743 | Millersville Branch | 1250 Louisville Highway, Goodlettsville, TN 37072 | April 19, 2004 | Full Service Brick and Mortar | |
| 9 | 438926 | Cross Plains Office | 7836 Highway 25, Cross Plains, TN 37049 | March 14, 2005 | Full Service Brick and Mortar | |
| 10 | 208717 | Westmoreland Branch | 5804 Austin Peay Highway, Westmoreland, TN 37186 | August 05, 1977 | Full Service Brick and Mortar | |
| 11 | 497948 | Tom Austin Highway - Springfield Off | 3490 Tom Austin Highway, Springfield, TN 37172 | August 24, 2009 | Full Service Brick and Mortar | |
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