The First National Bank of Grove in Grove, Oklahoma (OK)

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The First National Bank of Grove
GeneralFDIC Certificate #: 34280
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: The First National Bank and Trust Company of Vinita (#4218)
Federal Reserve ID: 2346609
Date Established: September 04, 1996
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 1 (Interstate: No)
FDIC's unique #: 57039
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: No
Date of Deposit Insurance: September 04, 1996
Last Structure Change Effective Date: October 03, 2003
Last Structure Change Process Date: October 29, 2003
Last Data Update: October 29, 2003
Data Source Date: April 05, 2012
LocationAddress: 600 South Main Street, Grove, OK 74344
County: Delaware
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Tulsa
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: West
Financial SummaryTotal assets: $52.1 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, 2002)
(Dollar figures in thousands)
Total employees (full-time equivalent)16
Total assets$48,135
Cash and due from depository institutions$860
Interest-bearing balances$77
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$25,611
Loan loss allowance $262
Trading account assets$0
Bank premises and fixed assets$1,791
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$900
Life insurance assets$0
Total liabilities and capital$48,135
Total liabilities$44,530
Total deposits$40,424
Interest-bearing deposits$38,630
Deposits held in domestic offices$40,424
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $3,800
Subordinated debt $0
All other liabilities $306
Total equity capital$3,605
Total bank equity capital$3,605
Perpetual preferred stock$3,605
Common stock$0
Undivided profits $2,350
Noncurrent loans and leases $605
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $744
Income earned, not collected on loans $0
Earning assets $180
Long-term assets (5+ years) $61
Average Assets, year-to-date $352
Average Assets, quarterly $44,661
Volatile liabilities $7,320
Insider loans $44,500
FHLB advances $47,303
Loans and leases held for sale $8,704
Unused loan commitments $225
Tier 1 (core) risk-based capital $3,800
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $744
Restructured Loans and leases $0
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Income and Expense (December 31, 2002)
(Dollar figures in thousands)
Total interest income $2,924
Total interest expense $1,252
Net interest income $1,672
Provision for loan and lease losses $155
Total noninterest income $364
Fiduciary activities $0
Service charges on deposit accounts $296
Trading account gains & fees $0
Additional noninterest income $68
Total noninterest expense $1,257
Salaries and employee benefits $624
Premises and equipment expense $177
Additional noninterest expense $456
Pre-tax net operating income $624
Securities gains (losses) $22
Applicable income taxes $225
Income before extraordinary items $421
Extraordinary gains - net $0
Net income attributable to bank $421
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $135
Net operating income $0
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Performance and Condition Ratios (December 31, 2002)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets7.12%
Cost of funding earning assets 3.05%
Net interest margin 4.07%
Noninterest income to earning assets 0.89%
Noninterest expense to earning assets 3.06%
Net operating income to assets 0.91%
Return on assets (ROA) 0.95%
Pretax return on assets 1.45%
Return on equity (ROE) 13.01%
Retained earnings to average equity (YTD only) 13.01%
Net charge-offs to loans 0.53%
Credit loss provision to net charge-offs 114.81%
Efficiency ratio5.77%
Assets per employee$61,739
Cash dividends to net income (YTD only)3.01%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.01%
Noncurrent assets plus other real estate owned to assets 145.56%
Noncurrent loans to loans 0.37%
Net loans and leases to deposits0.70%
Net loans and leases to core deposits 63.36%
Equity capital to assets 78.75%
Core capital (leverage) ratio 7.49%
Tier 1 risk-based capital ratio 7.15%
Total risk-based capital ratio 12.77%
Average assets$14
Average earning assets$44,500
Average equity $3,235
Average loans $41,066
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