Worthington Federal Bank in Huntsville, Alabama (AL)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Worthington Federal Bank in Huntsville, Alabama (AL)
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Worthington Federal Bank - Overview

  • General
  • FDIC Certificate #: 32649
    Status: Active
    Federal Reserve ID: 626370
    Date Established: October 21, 1920
    WWW: http://www.worthingtonfederalbank.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 1 (Domestic: 1, Interstate: No)
    OTS Docket #: 8569
    FDIC's unique #: 45483
    Numeric code: 33
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: March 21, 1989
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 3301 Memorial Parkway, Sw, Huntsville, AL 35801
    County: Madison
    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): Huntsville, AL (#3440)
    Combined Statistical Area (CSA): Huntsville-Decatur, AL (#290)
    Core Based Statistical Area (CBSA): Huntsville, AL (#26620)
    CBSA Metro Statistical Area: Huntsville, AL (#26620)
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $173.6 mil
    Equity capital: $17.8 mil
    Deposits held in domestic offices: $136.0 mil
    Return on assets (ROA): -0.34% (-$0.6 mil)
    Quarterly return on assets: -0.67% (-$1.2 mil)
    Return on Equity (ROE): -3.44% (-$0.6 mil)
    Quarterly return on equity: -6.66% (-$1.2 mil)
    Net income: -$0.6 mil
    Quarterly Net income: -$0.3 mil
    Pretax return on assets: -0.53% (-$920.2 mil)
    Quarterly Pretax return on assets: -0.98% (-$1,701.4 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
  • 71Total employees (full-time equivalent)
  • $173,615Total assets
  • $13,572Cash and due from depository institutions
  • $11,281Interest-bearing balances
  • $6,217Securities
  • $1,753Federal funds sold & reverse repurchase agreements
  • $134,583Net loans & leases
  • $1,600Loan loss allowance
  • $0Trading account assets
  • $7,194Bank premises and fixed assets
  • $3,528Other real estate owned
  • $2,853Goodwill and other intangibles
  • $173,615Life insurance assets
  • $3,915All other assets
  • $155,766Total liabilities and capital
  • $136,018Total liabilities
  • $119,826Total deposits
  • $136,018Interest-bearing deposits
  • $84Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $18,762Trading liabilities
  • $0Other borrowed funds
  • $986Subordinated debt
  • $17,849All other liabilities
  • $17,849Total equity capital
  • $17,849Total bank equity capital
  • $0Perpetual preferred stock
  • $32Common stock
  • $20,659Surplus
  • $-2,842Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $6,081Income earned, not collected on loans
  • $0Earning assets
  • $504Long-term assets (5+ years)
  • $153,834Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $178,996Volatile liabilities
  • $177,137Insider loans
  • $121,449FHLB advances
  • $170,735Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $14,969Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $20,902Restructured Loans and leases
  • $4,398Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $8,676Total interest income
  • $2,421Total interest expense
  • $6,255Net interest income
  • $2,549Provision for loan and lease losses
  • $4,348Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $18Trading account gains & fees
  • $4,330Additional noninterest income
  • $8,891Total noninterest expense
  • $5,525Salaries and employee benefits
  • $1,161Premises and equipment expense
  • $2,205Additional noninterest expense
  • -$837Pre-tax net operating income
  • -$111Securities gains (losses)
  • -$337Applicable income taxes
  • -$611Income before extraordinary items
  • $0Extraordinary gains - net
  • -$611Net income attributable to bank
  • $0Net charge-offs
  • -$611Cash dividends
  • $2,164Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.39%Yield on earning assets
  • 1.51%Cost of funding earning assets
  • 3.89%Net interest margin
  • 2.70%Noninterest income to earning assets
  • 5.53%Noninterest expense to earning assets
  • -0.30%Net operating income to assets
  • -0.34%Return on assets (ROA)
  • -0.53%Pretax return on assets
  • -3.44%Return on equity (ROE)
  • -3.44%Retained earnings to average equity (YTD only)
  • 1.60%Net charge-offs to loans
  • 117.79%Credit loss provision to net charge-offs
  • 0.79%Efficiency ratio
  • 83,854Assets per employee
  • 2.45%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.17%Loss allowance to noncurrent loans
  • 26.31%Noncurrent assets plus other real estate owned to assets
  • 5.53%Noncurrent loans to loans
  • 4.47%Net loans and leases to deposits
  • 98.94%Net loans and leases to core deposits
  • 116.88%Equity capital to assets
  • 10.28%Core capital (leverage) ratio
  • 8.77%Tier 1 risk-based capital ratio
  • 12.33%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $178,996Average earning assets
  • $17,749Average equity
  • $160,838Average loans

List of branches

  • 1 Alabama Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    045483Worthington Federal Bank3301 Memorial Parkway, Sw, Huntsville, AL 35801October 21, 1920Full Service Brick and Mortar

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