Security Federal Bank in Elizabethton, Tennessee (TN)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Security Federal Bank in Elizabethton, Tennessee (TN)
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Security Federal Bank - Overview

  • General
  • FDIC Certificate #: 31381
    Status: Active
    Federal Reserve ID: 406778
    Date Established: January 01, 1962
    WWW: http://www.secfed.com
    Trust Powers Granted: Yes
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 2 (Domestic: 2, Interstate: No)
    OTS Docket #: 6842
    FDIC's unique #: 44215
    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: January 28, 1963
    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: 632 Elk Avenue, Elizabethton, TN 37643
    County: Carter
    Quarterly Banking Profile Region: Dallas
    FDIC Geographic Region: Dallas
    FDIC Supervisory Region: Dallas
    FDIC Field Office: Knoxville
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Johnson City-Kingsport-Bristol, TN-VA (#3660)
    Combined Statistical Area (CSA): Johnson City-Kingsport-Bristol (Tri-Cities), TN-VA (#304)
    Core Based Statistical Area (CBSA): Johnson City, TN (#27740)
    CBSA Metro Statistical Area: Johnson City, TN (#27740)
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $58.9 mil
    Equity capital: $12.6 mil
    Deposits held in domestic offices: $44.2 mil
    Return on assets (ROA): 1.23% ($0.7 mil)
    Quarterly return on assets: 1.25% ($0.7 mil)
    Return on Equity (ROE): 5.91% ($0.8 mil)
    Quarterly return on equity: 5.92% ($0.8 mil)
    Net income: $0.7 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 1.90% ($1,118.2 mil)
    Quarterly Pretax return on assets: 1.92% ($1,129.9 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
  • 15Total employees (full-time equivalent)
  • $58,850Total assets
  • $10,762Cash and due from depository institutions
  • $10,220Interest-bearing balances
  • $2,503Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $43,385Net loans & leases
  • $606Loan loss allowance
  • $0Trading account assets
  • $692Bank premises and fixed assets
  • $176Other real estate owned
  • $63Goodwill and other intangibles
  • $58,850Life insurance assets
  • $1,269All other assets
  • $46,253Total liabilities and capital
  • $44,199Total liabilities
  • $42,683Total deposits
  • $44,199Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $1,500Trading liabilities
  • $0Other borrowed funds
  • $554Subordinated debt
  • $12,597All other liabilities
  • $12,597Total equity capital
  • $12,597Total bank equity capital
  • $0Perpetual preferred stock
  • $10Common stock
  • $4,044Surplus
  • $8,543Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $729Income earned, not collected on loans
  • $0Earning assets
  • $255Long-term assets (5+ years)
  • $56,108Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $59,113Volatile liabilities
  • $59,692Insider loans
  • $32,403FHLB advances
  • $58,840Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $12,591Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $3,929Restructured Loans and leases
  • $914Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $3,192Total interest income
  • $623Total interest expense
  • $2,569Net interest income
  • $70Provision for loan and lease losses
  • $167Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $167Additional noninterest income
  • $1,588Total noninterest expense
  • $901Salaries and employee benefits
  • $229Premises and equipment expense
  • $458Additional noninterest expense
  • $1,078Pre-tax net operating income
  • $47Securities gains (losses)
  • $395Applicable income taxes
  • $730Income before extraordinary items
  • $0Extraordinary gains - net
  • $730Net income attributable to bank
  • $0Net charge-offs
  • $730Cash dividends
  • $134Sale, conversion, retirement of capital stock, net
  • $215Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.70%Yield on earning assets
  • 1.11%Cost of funding earning assets
  • 4.59%Net interest margin
  • 0.30%Noninterest income to earning assets
  • 2.83%Noninterest expense to earning assets
  • 1.18%Net operating income to assets
  • 1.23%Return on assets (ROA)
  • 1.90%Pretax return on assets
  • 5.91%Return on equity (ROE)
  • 4.17%Retained earnings to average equity (YTD only)
  • 0.30%Net charge-offs to loans
  • 52.24%Credit loss provision to net charge-offs
  • 8.57%Efficiency ratio
  • 58,041Assets per employee
  • 3.92%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 29.45%Loss allowance to loans
  • 1.38%Loss allowance to noncurrent loans
  • 83.13%Noncurrent assets plus other real estate owned to assets
  • 1.54%Noncurrent loans to loans
  • 1.66%Net loans and leases to deposits
  • 98.16%Net loans and leases to core deposits
  • 103.20%Equity capital to assets
  • 21.41%Core capital (leverage) ratio
  • 21.40%Tier 1 risk-based capital ratio
  • 38.86%Total risk-based capital ratio
  • Memoranda
  • $40Average assets
  • $59,113Average earning assets
  • $12,349Average equity
  • $56,021Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $1,100Managed Assets
  • 1Number of Accounts
  • $1,100Personal trust and agency accounts
  • $1,100Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 6Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 2 Tennessee Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    044215Security Federal Bank632 Elk Avenue, Elizabethton, TN 37643January 01, 1962Full Service Brick and Mortar
    100284526Post Office Branch111 Charlie Robinson Drive, Elizabethton, TN 37643January 01, 1962Full Service Brick and Mortar

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