TriSummit Bank in Kingsport, Tennessee (TN), VA
| TriSummit Bank | |
|---|---|
| General | FDIC Certificate #: 58467 Status: Active Federal Reserve ID: 3546899 Date Established: Febuary 26, 2007 WWW: http://www.trisummitbank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 4 (Domestic: 4, Interstate: Yes) FDIC's unique #: 452541 Numeric code: 13 Regulator: FED 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: Febuary 26, 2007 Last Structure Change Effective Date: November 16, 2009 Last Structure Change Process Date: July 30, 2010 Last Data Update: July 30, 2010 Data Source Date: April 05, 2012 |
| Location | Address: 422 Broad Street, Kingsport, TN 37660 County: Sullivan Quarterly Banking Profile Region: Dallas FDIC Geographic Region: Dallas FDIC Supervisory Region: Dallas FDIC Field Office: Knoxville Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast Metropolitan Statistical Area (MSA): Johnson City-Kingsport-Bristol, TN-VA (#3660) Combined Statistical Area (CSA): Johnson City-Kingsport-Bristol (Tri-Cities), TN-VA (#304) Core Based Statistical Area (CBSA): Kingsport-Bristol-Bristol, TN-VA (#28700) CBSA Metro Statistical Area: Kingsport-Bristol-Bristol, TN-VA (#28700) |
| History of Changes | Change in Location |
| Financial Summary | Total assets: $278.6 mil Equity capital: $32.5 mil Deposits held in domestic offices: $223.0 mil Return on assets (ROA): 0.24% ($0.7 mil) Quarterly return on assets: 0.38% ($1.1 mil) Return on Equity (ROE): 2.20% ($0.7 mil) Quarterly return on equity: 3.41% ($1.1 mil) Net income: $0.7 mil Quarterly Net income: $0.3 mil Pretax return on assets: 0.24% ($668.6 mil) Quarterly Pretax return on assets: 0.38% ($1,058.6 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 51 |
| Total assets | $278,578 |
| Cash and due from depository institutions | $7,339 |
| Interest-bearing balances | $61 |
| Securities | $106,060 |
| Federal funds sold & reverse repurchase agreements | $6,067 |
| Net loans & leases | $141,310 |
| Loan loss allowance | $1,499 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $13,647 |
| Other real estate owned | $355 |
| Goodwill and other intangibles | $0 |
| All other assets | $3,800 |
| Life insurance assets | $278,578 |
| Total liabilities and capital | $246,046 |
| Total liabilities | $222,954 |
| Total deposits | $213,064 |
| Interest-bearing deposits | $222,954 |
| Deposits held in domestic offices | $84 |
| % insured (estimated) | 1031.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $21,747 |
| Other borrowed funds | $0 |
| Subordinated debt | $314 |
| All other liabilities | $32,532 |
| Total equity capital | $32,532 |
| Total bank equity capital | $32,532 |
| Perpetual preferred stock | $11,177 |
| Common stock | $3,209 |
| Surplus | $29,464 |
| Undivided profits | $-11,318 |
| 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 | $1,429 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $1,024 |
| Average Assets, year-to-date | $253,498 |
| Average Assets, quarterly | $147,454 |
| Volatile liabilities | $275,244 |
| Insider loans | $278,547 |
| FHLB advances | $161,553 |
| Loans and leases held for sale | $279,230 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $30,464 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $28,031 |
| Derivatives | $6,315 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $11,312 |
| Total interest expense | $3,097 |
| Net interest income | $8,215 |
| Provision for loan and lease losses | $287 |
| Total noninterest income | $187 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $99 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $88 |
| Total noninterest expense | $7,498 |
| Salaries and employee benefits | $3,642 |
| Premises and equipment expense | $1,424 |
| Additional noninterest expense | $2,432 |
| Pre-tax net operating income | $617 |
| Securities gains (losses) | $35 |
| Applicable income taxes | $0 |
| Income before extraordinary items | $652 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $652 |
| Net charge-offs | $0 |
| Cash dividends | $652 |
| Sale, conversion, retirement of capital stock, net | $959 |
| Net operating income | $390 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.51% |
| Cost of funding earning assets | 1.23% |
| Net interest margin | 3.27% |
| Noninterest income to earning assets | 0.07% |
| Noninterest expense to earning assets | 2.99% |
| Net operating income to assets | 0.22% |
| Return on assets (ROA) | 0.24% |
| Pretax return on assets | 0.24% |
| Return on equity (ROE) | 2.20% |
| Retained earnings to average equity (YTD only) | 0.89% |
| Net charge-offs to loans | 0.69% |
| Credit loss provision to net charge-offs | 29.93% |
| Efficiency ratio | 0.94% |
| Assets per employee | $89,241 |
| Cash dividends to net income (YTD only) | 5.46% |
| Condition Ratios (%) | |
| Loss allowance to loans | 59.82% |
| Loss allowance to noncurrent loans | 1.05% |
| Noncurrent assets plus other real estate owned to assets | 104.90% |
| Noncurrent loans to loans | 0.64% |
| Net loans and leases to deposits | 1.00% |
| Net loans and leases to core deposits | 63.38% |
| Equity capital to assets | 77.69% |
| Core capital (leverage) ratio | 11.68% |
| Tier 1 risk-based capital ratio | 10.91% |
| Total risk-based capital ratio | 18.86% |
| Memoranda | |
| Average assets | $20 |
| Average earning assets | $275,244 |
| Average equity | $29,586 |
| Average loans | $251,017 |
| 3 Tennessee Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 452541 | Trisummit Bank | 422 Broad Street, Kingsport, TN 37660 | Febuary 26, 2007 | Full Service Brick and Mortar |  |
| 1 | 464477 | Johnson City Branch | 862 Med Tech Pkwy, Johnson City, TN 37604 | May 30, 2007 | Full Service Brick and Mortar |  |
| 3 | 510779 | Tri Summit Bank Branch | 1999 East Stone Street, Kingsport, TN 37660 | December 31, 2009 | Full Service Brick and Mortar | |
| 1 Virginia Branch as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 2 | 465724 | Bristol Financial Center Branch | 425 State Street, Bristol, VA 24201 | March 06, 2007 | Full Service Brick and Mortar | |
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