Morehead Bank in Morehead, Kentucky (KY)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of August 21, 2004

Morehead Bank in Morehead, Kentucky (KY)
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Morehead Bank - Overview

General
FDIC Certificate #: 25783
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Whitaker Bank (#32912)
Federal Reserve ID: 170912
Date Established: November 19, 1984
WWW: http://www.whitakerbank.com
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 2 (Interstate: No)
OTS Docket #: 12634
FDIC's unique #: 17646
Numeric code: 13
Regulator: FED
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: November 19, 1984
Last Structure Change Effective Date: August 21, 2004
Last Structure Change Process Date: September 24, 2004
Last Data Update: September 24, 2004
Data Source Date: April 05, 2012
Location
Address: Main Street At Carey Avenue, Morehead, KY 40351
County: Rowan
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: $50.6 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
18Total employees (full-time equivalent)
$50,664Total assets
$1,618Cash and due from depository institutions
$0Interest-bearing balances
$9,207Securities
$0Federal funds sold & reverse repurchase agreements
$37,199Net loans & leases
$778Loan loss allowance
$0Trading account assets
$1,357Bank premises and fixed assets
$41Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,242All other assets
$50,664Total liabilities and capital
$47,233Total liabilities
$35,036Total deposits
$30,104Interest-bearing deposits
$35,036Deposits held in domestic offices
0.00%% insured (estimated)
$1,039Federal funds purchased & repurchase agreements
$0Trading liabilities
$10,910Other borrowed funds
$0Subordinated debt
$248All other liabilities
$3,431Total equity capital
$3,431Total bank equity capital
$3,431Perpetual preferred stock
$0Common stock
$200Surplus
$1,676Undivided profits
Memoranda
$1,555Noncurrent loans and leases
$2,235Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$492Earning assets
$0Long-term assets (5+ years)
$317Average Assets, year-to-date
$46,406Average Assets, quarterly
$21,605Volatile liabilities
$51,002Insider loans
$50,761FHLB advances
$7,300Loans and leases held for sale
$1,231Unused loan commitments
$10,910Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$2,235Total unused commitments
$0Restructured Loans and leases
$374Derivatives

Income and Expense (December 31, 2003)

Dollar figures in thousands
$3,146Total interest income
$1,216Total interest expense
$1,930Net interest income
$77Provision for loan and lease losses
$559Total noninterest income
$0Fiduciary activities
$477Service charges on deposit accounts
$0Trading account gains & fees
$82Additional noninterest income
$1,731Total noninterest expense
$738Salaries and employee benefits
$219Premises and equipment expense
$774Additional noninterest expense
$681Pre-tax net operating income
$0Securities gains (losses)
$231Applicable income taxes
$450Income before extraordinary items
-$24Extraordinary gains - net
$426Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$40Sale, conversion, retirement of capital stock, net
$300Net operating income

Performance and Condition Ratios (December 31, 2003)

Dollar figures in thousands
Performance Ratios (%, annualized)
6.71%Yield on earning assets
2.59%Cost of funding earning assets
4.12%Net interest margin
1.19%Noninterest income to earning assets
3.69%Noninterest expense to earning assets
0.88%Net operating income to assets
0.84%Return on assets (ROA)
1.29%Pretax return on assets
12.33%Return on equity (ROE)
3.65%Retained earnings to average equity (YTD only)
0.11%Net charge-offs to loans
192.50%Credit loss provision to net charge-offs
18.95%Efficiency ratio
69,546Assets per employee
2.81%Cash dividends to net income (YTD only)
Condition Ratios (%)
70.42%Loss allowance to loans
2.05%Loss allowance to noncurrent loans
158.13%Noncurrent assets plus other real estate owned to assets
1.05%Noncurrent loans to loans
1.30%Net loans and leases to deposits
106.17%Net loans and leases to core deposits
123.33%Equity capital to assets
6.77%Core capital (leverage) ratio
6.56%Tier 1 risk-based capital ratio
11.28%Total risk-based capital ratio
Memoranda
$13Average assets
$51,002Average earning assets
$3,454Average equity
$46,861Average loans

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