Tri-County Federal Savings Bank in Covington, Tennessee (TN)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 02, 1993

Tri-County Federal Savings Bank in Covington, Tennessee (TN)
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Tri-County Federal Savings Bank - Overview

General
FDIC Certificate #: 29187
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Tennessee Community Bank (#9955)
Federal Reserve ID: 907079
Date Established: October 01, 1934
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
OTS Docket #: 3068
FDIC's unique #: 42021
Numeric code: 34
Regulator: OTS
Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
FDIC Insured: Yes
SAIF Insured: Yes
Insured Savings Institution: Yes
State Chartered: No
Date of Deposit Insurance: April 08, 1935
Last Structure Change Effective Date: April 02, 1993
Last Structure Change Process Date: April 14, 1993
Last Data Update: April 14, 1993
Data Source Date: April 05, 2012
Location
Address: 200 West Washington, Covington, TN 38019
County: Tipton
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Memphis
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Memphis, TN-AR-MS (#4920)
Core Based Statistical Area (CBSA): Memphis, TN-MS-AR (#32820)
CBSA Metro Statistical Area: Memphis, TN-MS-AR (#32820)
Financial Summary
Total assets: $64.6 mil

Assets and Liabilities (December 31, 1992)

Dollar figures in thousands
0Total employees (full-time equivalent)
$24Total assets
$65,715Cash and due from depository institutions
$6,110Interest-bearing balances
$5,869Securities
$10,790Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$45,995Loan loss allowance
$537Trading account assets
$0Bank premises and fixed assets
$957Other real estate owned
$530Goodwill and other intangibles
$1,333Life insurance assets
$0All other assets
$0Total liabilities and capital
$65,715Total liabilities
$59,796Total deposits
$55,324Interest-bearing deposits
$54,865Deposits held in domestic offices
55324.00%% insured (estimated)
$98Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$3,581Subordinated debt
$0All other liabilities
$891Total equity capital
$891Total bank equity capital
$5,919Perpetual preferred stock
$0Common stock
$1Surplus
$2,180Undivided profits
Memoranda
$3,738Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$903Income earned, not collected on loans
$445Earning assets
$62,654Long-term assets (5+ years)
$0Average Assets, year-to-date
$66,286Average Assets, quarterly
$66,204Volatile liabilities
$8,300Insider loans
$0FHLB advances
$3,581Loans and leases held for sale
$0Unused loan commitments
$1,278Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$5,919Total risk weighted assets
$33,011Total unused commitments
$0Restructured Loans and leases
$0Derivatives

Income and Expense (December 31, 1992)

Dollar figures in thousands
$0Total interest income
$5,346Total interest expense
$3,238Net interest income
$2,108Provision for loan and lease losses
$408Total noninterest income
$362Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$19Additional noninterest income
$343Total noninterest expense
$1,710Salaries and employee benefits
$712Premises and equipment expense
$451Additional noninterest expense
$547Pre-tax net operating income
$352Securities gains (losses)
-$88Applicable income taxes
$610Income before extraordinary items
-$346Extraordinary gains - net
$0Net income attributable to bank
-$346Net charge-offs
$176Cash dividends
$0Sale, conversion, retirement of capital stock, net
$2,181Net operating income

Performance and Condition Ratios (December 31, 1992)

Dollar figures in thousands
Performance Ratios (%, annualized)
0.00%Yield on earning assets
8.49%Cost of funding earning assets
5.14%Net interest margin
3.35%Noninterest income to earning assets
0.57%Noninterest expense to earning assets
2.71%Net operating income to assets
-0.44%Return on assets (ROA)
-0.52%Pretax return on assets
0.40%Return on equity (ROE)
-6.29%Retained earnings to average equity (YTD only)
-6.29%Net charge-offs to loans
0.36%Credit loss provision to net charge-offs
231.82%Efficiency ratio
69,231Assets per employee
2.74%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.15%Loss allowance to noncurrent loans
59.47%Noncurrent assets plus other real estate owned to assets
2.18%Noncurrent loans to loans
1.94%Net loans and leases to deposits
83.14%Net loans and leases to core deposits
90.89%Equity capital to assets
9.01%Core capital (leverage) ratio
9.01%Tier 1 risk-based capital ratio
17.93%Total risk-based capital ratio
Memoranda
$19Average assets
$66,286Average earning assets
$5,502Average equity
$62,989Average loans

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