Southern Independent Bank in Opp, Alabama (AL)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Southern Independent Bank in Opp, Alabama (AL)
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Southern Independent Bank routing number info

Southern Independent Bank - Overview

  • General
  • FDIC Certificate #: 58357
    Status: Active
    Federal Reserve ID: 3531176
    Bank Holding Company (Regulatory Top Holder): Southern Independent Bancshares, Inc. (RSSDID: 4297527, Location: Opp, AL)
    Date Established: December 04, 2006
    WWW: http://www.southernindependentbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 447334
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: December 04, 2006
    Last Structure Change Effective Date: December 10, 2008
    Last Structure Change Process Date: December 10, 2008
    Last Data Update: December 10, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 503 North Main Street, Opp, AL 36467
    County: Covington
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Pensacola
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
  • Financial Summary
  • Total assets: $168.1 mil
    Equity capital: $17.0 mil
    Deposits held in domestic offices: $149.4 mil
    Return on assets (ROA): 0.87% ($1.5 mil)
    Quarterly return on assets: 1.04% ($1.7 mil)
    Return on Equity (ROE): 9.95% ($1.7 mil)
    Quarterly return on equity: 11.02% ($1.9 mil)
    Net income: $1.4 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 1.22% ($2,050.9 mil)
    Quarterly Pretax return on assets: 1.20% ($2,017.3 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
  • 25Total employees (full-time equivalent)
  • $168,110Total assets
  • $5,768Cash and due from depository institutions
  • $181Interest-bearing balances
  • $62,879Securities
  • $3,625Federal funds sold & reverse repurchase agreements
  • $87,344Net loans & leases
  • $1,765Loan loss allowance
  • $0Trading account assets
  • $3,828Bank premises and fixed assets
  • $145Other real estate owned
  • $0Goodwill and other intangibles
  • $168,110Life insurance assets
  • $4,521All other assets
  • $151,076Total liabilities and capital
  • $149,372Total liabilities
  • $132,503Total deposits
  • $149,372Interest-bearing deposits
  • $86Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $1,704Subordinated debt
  • $17,034All other liabilities
  • $17,034Total equity capital
  • $17,034Total bank equity capital
  • $0Perpetual preferred stock
  • $12Common stock
  • $14,874Surplus
  • $2,148Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,303Income earned, not collected on loans
  • $0Earning assets
  • $831Long-term assets (5+ years)
  • $154,029Average Assets, year-to-date
  • $54,651Average Assets, quarterly
  • $159,975Volatile liabilities
  • $165,639Insider loans
  • $108,556FHLB advances
  • $165,140Loans and leases held for sale
  • $2,289Unused loan commitments
  • $522Tier 1 (core) risk-based capital
  • $16,792Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $1,767Total unused commitments
  • $6,524Restructured Loans and leases
  • $11,276Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $7,015Total interest income
  • $2,005Total interest expense
  • $5,010Net interest income
  • $720Provision for loan and lease losses
  • $595Total noninterest income
  • $0Fiduciary activities
  • $35Service charges on deposit accounts
  • $0Trading account gains & fees
  • $560Additional noninterest income
  • $3,330Total noninterest expense
  • $1,573Salaries and employee benefits
  • $301Premises and equipment expense
  • $1,456Additional noninterest expense
  • $1,555Pre-tax net operating income
  • $395Securities gains (losses)
  • $561Applicable income taxes
  • $1,389Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,389Net income attributable to bank
  • $0Net charge-offs
  • $1,389Cash dividends
  • $375Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.79%Yield on earning assets
  • 1.37%Cost of funding earning assets
  • 3.42%Net interest margin
  • 0.41%Noninterest income to earning assets
  • 2.27%Noninterest expense to earning assets
  • 0.69%Net operating income to assets
  • 0.87%Return on assets (ROA)
  • 1.22%Pretax return on assets
  • 9.95%Return on equity (ROE)
  • 9.95%Retained earnings to average equity (YTD only)
  • 0.44%Net charge-offs to loans
  • 192.00%Credit loss provision to net charge-offs
  • 6.07%Efficiency ratio
  • 59,411Assets per employee
  • 6.72%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.98%Loss allowance to noncurrent loans
  • 76.64%Noncurrent assets plus other real estate owned to assets
  • 1.46%Noncurrent loans to loans
  • 2.58%Net loans and leases to deposits
  • 58.47%Net loans and leases to core deposits
  • 66.97%Equity capital to assets
  • 10.13%Core capital (leverage) ratio
  • 10.17%Tier 1 risk-based capital ratio
  • 15.47%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $159,975Average earning assets
  • $13,964Average equity
  • $146,424Average loans

List of branches

  • 2 Alabama Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    0447334Southern Independent Bank503 North Main Street, Opp, AL 36467December 04, 2006Full Service Brick and Mortar
    14576001417 Mlk Jr Expressway Branch1417 Mlk Jr Expressway, Andalusia, AL 36420December 04, 2006Full Service Brick and Mortar

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