Volunteer State Bank in Portland, Tennessee (TN)
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| Volunteer State Bank | |
|---|---|
| General | FDIC Certificate #: 22451 Status: Active Federal Reserve ID: 774132 Bank Holding Company (Regulatory Top Holder): Volunteer State Bancshares, Inc. (RSSDID: 1080803, Location: Portland, TN) Date Established: April 15, 1977 WWW: http://www.volstatebank.com Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 9 (Domestic: 9, Interstate: No) OTS Docket #: 12980 FDIC's unique #: 15648 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: April 15, 1977 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 |
| Location | Address: 101 Highway 52 West, Portland, TN 37148 County: Sumner Quarterly Banking Profile Region: Dallas FDIC Geographic Region: Dallas FDIC Supervisory Region: Dallas FDIC Field Office: Nashville Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast Metropolitan Statistical Area (MSA): Nashville, TN (#5360) Combined Statistical Area (CSA): Nashville-Davidson-Murfreesboro-Columbia, TN (#400) Core Based Statistical Area (CBSA): Nashville-Davidson-Murfreesboro-Franklin, TN (#34980) CBSA Metro Statistical Area: Nashville-Davidson-Murfreesboro-Franklin, TN (#34980) |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $383.7 mil Equity capital: $33.5 mil Deposits held in domestic offices: $311.8 mil Return on assets (ROA): 1.23% ($4.7 mil) Quarterly return on assets: 1.63% ($6.3 mil) Return on Equity (ROE): 14.61% ($5.0 mil) Quarterly return on equity: 18.73% ($6.4 mil) Net income: $4.7 mil Quarterly Net income: $1.5 mil Pretax return on assets: 1.32% ($5,064.4 mil) Quarterly Pretax return on assets: 1.75% ($6,714.2 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 185 |
| Total assets | $383,666 |
| Cash and due from depository institutions | $9,649 |
| Interest-bearing balances | $1,548 |
| Securities | $26,067 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $319,807 |
| Loan loss allowance | $3,583 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $19,076 |
| Other real estate owned | $1,555 |
| Goodwill and other intangibles | $0 |
| All other assets | $7,512 |
| Life insurance assets | $383,666 |
| Total liabilities and capital | $350,136 |
| Total liabilities | $311,830 |
| Total deposits | $281,985 |
| Interest-bearing deposits | $311,830 |
| Deposits held in domestic offices | $96 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $22,000 |
| Other borrowed funds | $0 |
| Subordinated debt | $16,306 |
| All other liabilities | $33,530 |
| Total equity capital | $33,530 |
| Total bank equity capital | $33,530 |
| Perpetual preferred stock | $0 |
| Common stock | $500 |
| Surplus | $8,310 |
| Undivided profits | $24,720 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $100,605 |
| Income earned, not collected on loans | $8,019 |
| Earning assets | $225 |
| Long-term assets (5+ years) | $1,104 |
| Average Assets, year-to-date | $347,422 |
| Average Assets, quarterly | $134,377 |
| Volatile liabilities | $378,352 |
| Insider loans | $376,501 |
| FHLB advances | $289,637 |
| Loans and leases held for sale | $369,617 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $32,552 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $53,735 |
| Derivatives | $1,875 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $17,163 |
| Total interest expense | $3,181 |
| Net interest income | $13,982 |
| Provision for loan and lease losses | $1,579 |
| Total noninterest income | $16,703 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $2,133 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $14,570 |
| Total noninterest expense | $24,108 |
| Salaries and employee benefits | $12,461 |
| Premises and equipment expense | $2,923 |
| Additional noninterest expense | $8,724 |
| Pre-tax net operating income | $4,998 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $330 |
| Income before extraordinary items | $4,668 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $4,668 |
| Net charge-offs | $0 |
| Cash dividends | $4,668 |
| Sale, conversion, retirement of capital stock, net | $1,251 |
| Net operating income | $3,155 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 5.12% |
| Cost of funding earning assets | 0.95% |
| Net interest margin | 4.17% |
| Noninterest income to earning assets | 4.99% |
| Noninterest expense to earning assets | 7.20% |
| Net operating income to assets | 1.23% |
| Return on assets (ROA) | 1.23% |
| Pretax return on assets | 1.32% |
| Return on equity (ROE) | 14.61% |
| Retained earnings to average equity (YTD only) | 4.74% |
| Net charge-offs to loans | 0.41% |
| Credit loss provision to net charge-offs | 126.22% |
| Efficiency ratio | 5.26% |
| Assets per employee | $78,566 |
| Cash dividends to net income (YTD only) | 2.07% |
| Condition Ratios (%) | |
| Loss allowance to loans | 67.59% |
| Loss allowance to noncurrent loans | 1.11% |
| Noncurrent assets plus other real estate owned to assets | 44.68% |
| Noncurrent loans to loans | 2.63% |
| Net loans and leases to deposits | 2.48% |
| Net loans and leases to core deposits | 102.56% |
| Equity capital to assets | 110.19% |
| Core capital (leverage) ratio | 8.74% |
| Tier 1 risk-based capital ratio | 8.81% |
| Total risk-based capital ratio | 11.24% |
| Memoranda | |
| Average assets | $12 |
| Average earning assets | $378,352 |
| Average equity | $31,940 |
| Average loans | $334,957 |
| 9 Tennessee Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 15648 | Volunteer State Bank | 101 Highway 52 West, Portland, TN 37148 | April 15, 1977 | Full Service Brick and Mortar |  |
| 1 | 254620 | Volunteer State Bank Branch | 615 Nashville Pike, Gallatin, TN 37066 | May 15, 1980 | Full Service Brick and Mortar |  |
| 4 | 6102 | Orlinda Branch | 1204 East Church Street, Orlinda, TN 37141 | January 01, 1904 | Full Service Brick and Mortar | |
| 5 | 254621 | Springfield Branch | 1310 Memorial Boulevard, Springfield, TN 37172 | Febuary 23, 1987 | Full Service Brick and Mortar | |
| 9 | 208716 | White House Branch | 2920 Highway 31 West, White House, TN 37188 | January 14, 1974 | Full Service Brick and Mortar | |
| 10 | 461766 | New Shackle Island Branch | 530 New Shackle Island Road, Hendersonville, TN 37075 | January 04, 2007 | Full Service Brick and Mortar | |
| 11 | 472670 | Goodlettsville Branch | 405 Long Hollow Pike, Goodlettsville, TN 37072 | March 03, 2008 | Full Service Brick and Mortar | |
| 12 | 506540 | East Main Street Branch | 323 East Main Street, Hendersonville, TN 37075 | March 29, 2010 | Full Service Brick and Mortar | |
| 13 | 521601 | Greensboro Village Branch | 1553 Nashville Pike, Gallatin, TN 37066 | April 01, 2011 | Full Service Brick and Mortar | |
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