FDIC Certificate #: 32997 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Southern Bancorp Bank (#328) Federal Reserve ID: 1460302 Date Established: July 02, 1990 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 6 (Interstate: No) OTS Docket #: 13460 FDIC's unique #: 46178 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Savings Association Insurance Fund (SAIF) Insured commercial Banks: Yes FDIC Insured: Yes SAIF Insured: Yes Oakar Institutions: Yes State Chartered: Yes Date of Deposit Insurance: July 02, 1990 Last Structure Change Effective Date: January 04, 2002 Last Structure Change Process Date: January 29, 2002 Last Data Update: January 29, 2002 Data Source Date: April 05, 2012
Location
Address: 108 North Main Street, Drew, MS 38737 County: Sunflower Quarterly Banking Profile Region: Dallas FDIC Geographic Region: Dallas FDIC Supervisory Region: Dallas FDIC Field Office: Jackson Ms Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: West Core Based Statistical Area (CBSA): Indianola, MS (#26940) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $35.3 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2001)
Dollar figures in thousands
22Total employees (full-time equivalent)
$35,280Total assets
$11,244Cash and due from depository institutions
$7,647Interest-bearing balances
$6,067Securities
$0Federal funds sold & reverse repurchase agreements
$14,971Net loans & leases
$480Loan loss allowance
$0Trading account assets
$1,815Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,183All other assets
$35,280Total liabilities and capital
$32,219Total liabilities
$32,026Total deposits
$27,931Interest-bearing deposits
$32,026Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$193All other liabilities
$3,061Total equity capital
$3,061Total bank equity capital
$3,061Perpetual preferred stock
$0Common stock
$100Surplus
$2,934Undivided profits
Memoranda
$27Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$361Earning assets
$0Long-term assets (5+ years)
$269Average Assets, year-to-date
$28,685Average Assets, quarterly
$5,261Volatile liabilities
$24,602Insider loans
$35,617FHLB advances
$3,168Loans and leases held for sale
$35Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$0Restructured Loans and leases
$240Derivatives
Income and Expense (December 31, 2001)
Dollar figures in thousands
$926Total interest income
$533Total interest expense
$393Net interest income
-$78Provision for loan and lease losses
$160Total noninterest income
$0Fiduciary activities
$147Service charges on deposit accounts
$0Trading account gains & fees
$13Additional noninterest income
$670Total noninterest expense
$326Salaries and employee benefits
$70Premises and equipment expense
$274Additional noninterest expense
-$39Pre-tax net operating income
$3Securities gains (losses)
-$17Applicable income taxes
-$19Income before extraordinary items
$0Extraordinary gains - net
-$19Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$3Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2001)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.42%Yield on earning assets
2.54%Cost of funding earning assets
1.87%Net interest margin
0.76%Noninterest income to earning assets
3.20%Noninterest expense to earning assets
-0.09%Net operating income to assets
-0.08%Return on assets (ROA)
-0.15%Pretax return on assets
-0.92%Return on equity (ROE)
-0.92%Retained earnings to average equity (YTD only)
0.03%Net charge-offs to loans
-2600.00%Credit loss provision to net charge-offs
-39.00%Efficiency ratio
121,157Assets per employee
1.60%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
3.11%Loss allowance to noncurrent loans
132.96%Noncurrent assets plus other real estate owned to assets
1.02%Noncurrent loans to loans
2.34%Net loans and leases to deposits
46.75%Net loans and leases to core deposits
51.88%Equity capital to assets
8.68%Core capital (leverage) ratio
8.43%Tier 1 risk-based capital ratio
15.92%Total risk-based capital ratio
Memoranda
$17Average assets
$24,602Average earning assets
$2,061Average equity
$20,966Average loans
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