FDIC Certificate #: 33961 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Somerset National Bank (#34528) Federal Reserve ID: 2259455 Date Established: December 16, 1994 Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 2 (Interstate: No) OTS Docket #: 14511 FDIC's unique #: 55335 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes Insured commercial Banks: Yes FDIC Insured: Yes State Chartered: No Date of Deposit Insurance: December 16, 1994 Last Structure Change Effective Date: April 16, 2004 Last Structure Change Process Date: May 13, 2004 Last Data Update: May 13, 2004 Data Source Date: April 05, 2012
Location
Address: North U.S. Highway 27, Whitley City, KY 42653 County: Mccreary Quarterly Banking Profile Region: Chicago FDIC Geographic Region: Chicago FDIC Supervisory Region: Chicago FDIC Field Office: Lexington Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: Southeast
Financial Summary
Total assets: $31.0 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2003)
Dollar figures in thousands
21Total employees (full-time equivalent)
$32,525Total assets
$1,041Cash and due from depository institutions
$11Interest-bearing balances
$5,996Securities
$302Federal funds sold & reverse repurchase agreements
$23,490Net loans & leases
$320Loan loss allowance
$0Trading account assets
$1,143Bank premises and fixed assets
$57Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$496All other assets
$32,525Total liabilities and capital
$29,247Total liabilities
$25,440Total deposits
$23,835Interest-bearing deposits
$25,440Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$3,575Other borrowed funds
$0Subordinated debt
$232All other liabilities
$3,278Total equity capital
$3,278Total bank equity capital
$3,278Perpetual preferred stock
$0Common stock
$1,253Surplus
$1,253Undivided profits
Memoranda
$772Noncurrent loans and leases
$406Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$746Earning assets
$686Long-term assets (5+ years)
$157Average Assets, year-to-date
$29,799Average Assets, quarterly
$12,816Volatile liabilities
$31,490Insider loans
$32,194FHLB advances
$6,226Loans and leases held for sale
$1,049Unused loan commitments
$3,575Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$406Total unused commitments
$0Restructured Loans and leases
$243Derivatives
Income and Expense (December 31, 2003)
Dollar figures in thousands
$2,125Total interest income
$668Total interest expense
$1,457Net interest income
$37Provision for loan and lease losses
$251Total noninterest income
$0Fiduciary activities
$195Service charges on deposit accounts
$0Trading account gains & fees
$56Additional noninterest income
$1,235Total noninterest expense
$499Salaries and employee benefits
$188Premises and equipment expense
$548Additional noninterest expense
$436Pre-tax net operating income
$76Securities gains (losses)
$172Applicable income taxes
$340Income before extraordinary items
$0Extraordinary gains - net
$340Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$18Sale, conversion, retirement of capital stock, net
$150Net operating income
Performance and Condition Ratios (December 31, 2003)
Dollar figures in thousands
Performance Ratios (%, annualized)
7.37%Yield on earning assets
2.32%Cost of funding earning assets
5.06%Net interest margin
0.87%Noninterest income to earning assets
4.29%Noninterest expense to earning assets
0.92%Net operating income to assets
1.08%Return on assets (ROA)
1.63%Pretax return on assets
10.49%Return on equity (ROE)
5.86%Retained earnings to average equity (YTD only)
0.07%Net charge-offs to loans
205.56%Credit loss provision to net charge-offs
26.28%Efficiency ratio
72,307Assets per employee
1.55%Cash dividends to net income (YTD only)
Condition Ratios (%)
44.12%Loss allowance to loans
1.34%Loss allowance to noncurrent loans
42.90%Noncurrent assets plus other real estate owned to assets
2.47%Noncurrent loans to loans
3.13%Net loans and leases to deposits
92.33%Net loans and leases to core deposits
103.08%Equity capital to assets
10.08%Core capital (leverage) ratio
9.61%Tier 1 risk-based capital ratio
16.54%Total risk-based capital ratio
Memoranda
$18Average assets
$31,490Average earning assets
$3,242Average equity
$28,816Average loans
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