The Southern Bank Company in Gadsden, Alabama (AL)
Overview, Financial Summary, Detailed Financial Reports, Branches

The Southern Bank Company - Overview

  • General
  • FDIC Certificate #: 29731
    Status: Active
    Federal Reserve ID: 117775
    Bank Holding Company (Regulatory Top Holder): Southern Banc Company, Inc., The (RSSDID: 2496193, Location: Gadsden, AL)
    Date Established: June 01, 1936
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Domestic: 4, Interstate: No)
    OTS Docket #: 3971
    FDIC's unique #: 42565
    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: Mortgage Lending Specialization
    Date of Deposit Insurance: July 02, 1936
    Last Structure Change Effective Date: Febuary 24, 2011
    Last Structure Change Process Date: Febuary 24, 2011
    Last Data Update: Febuary 24, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 221 S Sixth St, Gadsden, AL 35901
    County: Etowah
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Shelby
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Gadsden, AL (#2880)
    Core Based Statistical Area (CBSA): Gadsden, AL (#23460)
    CBSA Metro Statistical Area: Gadsden, AL (#23460)
  • History of Changes
  • Change in Geographic Region/Area/Territory/Field Office
  • Financial Summary
  • Total assets: $101.8 mil
    Equity capital: $15.4 mil
    Deposits held in domestic offices: $74.6 mil
    Return on assets (ROA): -0.09% (-$0.1 mil)
    Quarterly return on assets: 0.01% ($0.0 mil)
    Return on Equity (ROE): -0.57% (-$0.1 mil)
    Quarterly return on equity: 0.08% ($0.0 mil)
    Net income: -$0.1 mil
    Quarterly Net income: $0.0 mil
    Pretax return on assets: -0.14% (-$142.5 mil)
    Quarterly Pretax return on assets: 0.02% ($20.4 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
  • 32Total employees (full-time equivalent)
  • $101,769Total assets
  • $3,363Cash and due from depository institutions
  • $36Interest-bearing balances
  • $67,733Securities
  • $890Federal funds sold & reverse repurchase agreements
  • $27,333Net loans & leases
  • $249Loan loss allowance
  • $0Trading account assets
  • $845Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $101,769Life insurance assets
  • $1,605All other assets
  • $86,345Total liabilities and capital
  • $74,645Total liabilities
  • $73,470Total deposits
  • $74,645Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $10,626Trading liabilities
  • $0Other borrowed funds
  • $1,074Subordinated debt
  • $15,424All other liabilities
  • $15,424Total equity capital
  • $15,424Total bank equity capital
  • $0Perpetual preferred stock
  • $1Common stock
  • $7,953Surplus
  • $7,470Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $399Income earned, not collected on loans
  • $0Earning assets
  • $427Long-term assets (5+ years)
  • $95,992Average Assets, year-to-date
  • $52,308Average Assets, quarterly
  • $97,536Volatile liabilities
  • $99,511Insider loans
  • $36,710FHLB advances
  • $99,922Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $14,385Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $2,362Restructured Loans and leases
  • $37Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $3,341Total interest income
  • $984Total interest expense
  • $2,357Net interest income
  • $8Provision for loan and lease losses
  • $122Total noninterest income
  • $0Fiduciary activities
  • $64Service charges on deposit accounts
  • $0Trading account gains & fees
  • $58Additional noninterest income
  • $2,761Total noninterest expense
  • $1,492Salaries and employee benefits
  • $211Premises and equipment expense
  • $1,058Additional noninterest expense
  • -$290Pre-tax net operating income
  • $156Securities gains (losses)
  • -$47Applicable income taxes
  • -$87Income before extraordinary items
  • $0Extraordinary gains - net
  • -$87Net income attributable to bank
  • $0Net charge-offs
  • -$87Cash dividends
  • $11Sale, conversion, retirement of capital stock, net
  • $200Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.66%Yield on earning assets
  • 1.08%Cost of funding earning assets
  • 2.58%Net interest margin
  • 0.13%Noninterest income to earning assets
  • 3.02%Noninterest expense to earning assets
  • -0.19%Net operating income to assets
  • -0.09%Return on assets (ROA)
  • -0.14%Pretax return on assets
  • -0.57%Return on equity (ROE)
  • -1.87%Retained earnings to average equity (YTD only)
  • 0.04%Net charge-offs to loans
  • 72.73%Credit loss provision to net charge-offs
  • -25.64%Efficiency ratio
  • 111,376Assets per employee
  • 3.18%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • -229.89%Loss allowance to loans
  • 0.90%Loss allowance to noncurrent loans
  • 62.41%Noncurrent assets plus other real estate owned to assets
  • 0.39%Noncurrent loans to loans
  • 1.45%Net loans and leases to deposits
  • 36.62%Net loans and leases to core deposits
  • 38.35%Equity capital to assets
  • 15.16%Core capital (leverage) ratio
  • 14.40%Tier 1 risk-based capital ratio
  • 39.19%Total risk-based capital ratio
  • Memoranda
  • $40Average assets
  • $97,536Average earning assets
  • $15,332Average equity
  • $91,370Average loans

List of branches

  • 4 Alabama Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    042565The Southern Bank Company221 S Sixth St, Gadsden, AL 35901June 01, 1936Full Service Brick and Mortar
    1276995East Main Street Branch625 East Main Street, Albertville, AL 35950June 01, 1936Full Service Brick and Mortar
    22769962204 Henry Street Branch2204 Henry Street, Guntersville, AL 35976June 01, 1936Full Service Brick and Mortar
    4283799390 West Main Street Branch390 West Main Street, Centre, AL 35960August 05, 1960Full Service Brick and Mortar

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