Volunteer State Bank in Portland, Tennessee (TN)

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Volunteer State Bank
GeneralFDIC 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
LocationAddress: 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 ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal 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)

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)185
Total assets$383,666
Cash and due from depository institutions$9,649
Interest-bearing balances$1,548
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
Undivided profits $24,720
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
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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
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.12%
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 ratio5.26%
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 deposits2.48%
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%
Average assets$12
Average earning assets$378,352
Average equity $31,940
Average loans $334,957
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9 Tennessee Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
015648Volunteer State Bank101 Highway 52 West, Portland, TN 37148April 15, 1977Full Service Brick and Mortar
1254620Volunteer State Bank Branch615 Nashville Pike, Gallatin, TN 37066May 15, 1980Full Service Brick and Mortar
46102Orlinda Branch1204 East Church Street, Orlinda, TN 37141January 01, 1904Full Service Brick and Mortar
5254621Springfield Branch1310 Memorial Boulevard, Springfield, TN 37172Febuary 23, 1987Full Service Brick and Mortar
9208716White House Branch2920 Highway 31 West, White House, TN 37188January 14, 1974Full Service Brick and Mortar
10461766New Shackle Island Branch530 New Shackle Island Road, Hendersonville, TN 37075January 04, 2007Full Service Brick and Mortar
11472670Goodlettsville Branch405 Long Hollow Pike, Goodlettsville, TN 37072March 03, 2008Full Service Brick and Mortar
12506540East Main Street Branch323 East Main Street, Hendersonville, TN 37075March 29, 2010Full Service Brick and Mortar
13521601Greensboro Village Branch1553 Nashville Pike, Gallatin, TN 37066April 01, 2011Full Service Brick and Mortar
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