The Security State Bank in Mc Rae, Georgia (GA)



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The Security State Bank
GeneralFDIC Certificate #: 19680
Status: Active
Federal Reserve ID: 598132
Bank Holding Company (Regulatory Top Holder): Farmers Bancshares, Inc. (RSSDID: 1080885, Location: Dublin, GA)
Date Established: Febuary 01, 1950
WWW: http://www.securitystate.net
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Domestic: 1, Interstate: No)
FDIC's unique #: 13479
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: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: March 01, 1967
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: 49 West Oak Street, Mc Rae, GA 31055
County: Telfair
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Albany Ga
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
History of ChangesCorrections
Merge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $39.7 mil
Equity capital: $5.5 mil
Deposits held in domestic offices: $34.1 mil
Return on assets (ROA): 0.52% ($0.2 mil)
Quarterly return on assets: 0.12% ($0.0 mil)
Return on Equity (ROE): 3.76% ($0.2 mil)
Quarterly return on equity: 0.86% ($0.1 mil)
Net income: $0.2 mil
Quarterly Net income: $0.0 mil
Pretax return on assets: 0.52% ($206.4 mil)
Quarterly Pretax return on assets: 0.12% ($47.6 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)12
Total assets$39,699
Cash and due from depository institutions$4,614
Interest-bearing balances$88
Securities$13,067
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$20,332
Loan loss allowance $403
Trading account assets$0
Bank premises and fixed assets$392
Other real estate owned$820
Goodwill and other intangibles$0
All other assets$474
Life insurance assets$39,699
Total liabilities and capital$34,169
Total liabilities$34,089
Total deposits$25,908
Interest-bearing deposits$34,089
Deposits held in domestic offices$89
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $80
All other liabilities $5,530
Total equity capital$5,530
Total bank equity capital$5,530
Perpetual preferred stock$0
Common stock$390
Surplus$2,960
Undivided profits $2,180
Memoranda
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 $29
Earning assets $0
Long-term assets (5+ years) $298
Average Assets, year-to-date $33,487
Average Assets, quarterly $11,571
Volatile liabilities $39,791
Insider loans $39,251
FHLB advances $23,372
Loans and leases held for sale $39,694
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $5,299
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $625
Derivatives$75
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $1,937
Total interest expense $312
Net interest income $1,625
Provision for loan and lease losses $205
Total noninterest income $211
Fiduciary activities $0
Service charges on deposit accounts $286
Trading account gains & fees $0
Additional noninterest income -$75
Total noninterest expense $1,426
Salaries and employee benefits $830
Premises and equipment expense $155
Additional noninterest expense $441
Pre-tax net operating income $205
Securities gains (losses) $2
Applicable income taxes $0
Income before extraordinary items $207
Extraordinary gains - net $0
Net income attributable to bank $207
Net charge-offs $0
Cash dividends $207
Sale, conversion, retirement of capital stock, net $127
Net operating income $185
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.61%
Cost of funding earning assets 0.90%
Net interest margin 4.71%
Noninterest income to earning assets 0.61%
Noninterest expense to earning assets 4.13%
Net operating income to assets 0.52%
Return on assets (ROA) 0.52%
Pretax return on assets 0.52%
Return on equity (ROE) 3.76%
Retained earnings to average equity (YTD only) 0.40%
Net charge-offs to loans 0.58%
Credit loss provision to net charge-offs 161.42%
Efficiency ratio3.23%
Assets per employee$77,669
Cash dividends to net income (YTD only)3.31%
Condition Ratios (%)
Loss allowance to loans 89.37%
Loss allowance to noncurrent loans 1.94%
Noncurrent assets plus other real estate owned to assets 1389.66%
Noncurrent loans to loans 2.14%
Net loans and leases to deposits0.14%
Net loans and leases to core deposits 59.64%
Equity capital to assets 64.05%
Core capital (leverage) ratio 13.93%
Tier 1 risk-based capital ratio 13.35%
Total risk-based capital ratio 22.67%
Memoranda
Average assets$24
Average earning assets$39,791
Average equity $5,504
Average loans $34,501
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1 Georgia Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
013479The Security State Bank49 West Oak Street, Mc Rae, GA 31055Febuary 01, 1950Full Service Brick and Mortar
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