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

This bank is inactive as of December 31, 2007

Somerset National Bank in Somerset, Kentucky (KY)
Show street view No street view available for this location

Somerset National Bank - Overview

General
FDIC Certificate #: 34528
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: FORCHT BANK, NATIONAL ASSOCIATION (#57415)
Federal Reserve ID: 2598275
Date Established: August 01, 1997
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 5 (Interstate: No)
FDIC's unique #: 59035
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: No
Date of Deposit Insurance: August 01, 1997
Last Structure Change Effective Date: December 31, 2007
Last Structure Change Process Date: January 08, 2008
Last Data Update: January 08, 2008
Data Source Date: April 05, 2012
Location
Address: 1846 South Highway 27, Somerset, KY 42501
County: Pulaski
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
Core Based Statistical Area (CBSA): Somerset, KY (#43700)
CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $179.7 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, 2006)

Dollar figures in thousands
83Total employees (full-time equivalent)
$172,785Total assets
$4,462Cash and due from depository institutions
$11Interest-bearing balances
$21,404Securities
$0Federal funds sold & reverse repurchase agreements
$138,344Net loans & leases
$1,623Loan loss allowance
$0Trading account assets
$6,593Bank premises and fixed assets
$49Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,933All other assets
$172,785Total liabilities and capital
$159,451Total liabilities
$154,763Total deposits
$144,394Interest-bearing deposits
$154,763Deposits held in domestic offices
0.00%% insured (estimated)
$3,403Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$1,285All other liabilities
$13,334Total equity capital
$13,334Total bank equity capital
$13,334Perpetual preferred stock
$0Common stock
$3,928Surplus
$3,928Undivided profits
Memoranda
$5,478Noncurrent loans and leases
$16,419Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$953Earning assets
$833Long-term assets (5+ years)
$981Average Assets, year-to-date
$159,759Average Assets, quarterly
$56,143Volatile liabilities
$158,461Insider loans
$170,207FHLB advances
$25,824Loans and leases held for sale
$4,512Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$16,419Total unused commitments
$0Restructured Loans and leases
$1,562Derivatives

Income and Expense (December 31, 2006)

Dollar figures in thousands
$10,034Total interest income
$4,802Total interest expense
$5,232Net interest income
$146Provision for loan and lease losses
$1,129Total noninterest income
$0Fiduciary activities
$835Service charges on deposit accounts
$0Trading account gains & fees
$294Additional noninterest income
$4,632Total noninterest expense
$2,240Salaries and employee benefits
$1,015Premises and equipment expense
$1,377Additional noninterest expense
$1,583Pre-tax net operating income
$0Securities gains (losses)
$515Applicable income taxes
$1,068Income before extraordinary items
$0Extraordinary gains - net
$1,068Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$83Sale, conversion, retirement of capital stock, net
$620Net operating income

Performance and Condition Ratios (December 31, 2006)

Dollar figures in thousands
Performance Ratios (%, annualized)
6.89%Yield on earning assets
3.30%Cost of funding earning assets
3.59%Net interest margin
0.78%Noninterest income to earning assets
3.18%Noninterest expense to earning assets
0.67%Net operating income to assets
0.67%Return on assets (ROA)
1.00%Pretax return on assets
8.20%Return on equity (ROE)
3.44%Retained earnings to average equity (YTD only)
0.07%Net charge-offs to loans
175.90%Credit loss provision to net charge-offs
20.83%Efficiency ratio
72,819Assets per employee
2.08%Cash dividends to net income (YTD only)
Condition Ratios (%)
58.05%Loss allowance to loans
1.16%Loss allowance to noncurrent loans
170.30%Noncurrent assets plus other real estate owned to assets
0.58%Noncurrent loans to loans
0.68%Net loans and leases to deposits
89.39%Net loans and leases to core deposits
104.54%Equity capital to assets
7.72%Core capital (leverage) ratio
8.04%Tier 1 risk-based capital ratio
10.86%Total risk-based capital ratio
Memoranda
$12Average assets
$158,461Average earning assets
$13,028Average equity
$145,654Average loans

Comment about this bank, ask questions, or add new information about it:

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Somerset National Bank.
Based on public records. Inadvertent errors are possible.
bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.