Bank of Bartlett is headquartered in Bartlett and is the 49th largest bank in the state of Tennessee. It is also the 1,851st largest bank in the nation. It was established in 1980 and as of December of 2013, it had grown to 103 employees at 8 locations. Bank of Bartlett has a C- health rating.
"Major U.S. banks continue to be plagued by toxic assets and an inability to raise capital," said Martin D. Weiss, chairman of Weiss Ratings. "Despite the federal government's help, we've witnessed 73 bank failures so far in 2010, more than double last year's pace -- a pattern that is bound to continue as further loan deterioration and regulatory reform take their toll on already shaky banks.
"Although most vulnerable banks will not ultimately fail, the failure rate could rise sharply if the U.S. experiences any further economic or financial adversity."
The vulnerable institutions received a rating of "D+" (weak) or lower, and included nine based in Shelby County.
"For consumers and also for bank regulators, the big dilemma is that many of the largest banks are still weak, while most of the strongest banks are relatively small and have fewer branches," Weiss said.
Memphis-based First Tennessee Bank, which received a "D" rating, has experienced problems in the past, but has made great strides in the last couple years, said a bank official.
"There is room for improvement, but we've made a lot of progress since the challenges of the last two years and we're looking forward to a bright future," said Mike Edwards, Mid-South market president for First Tennessee. "We now have one of the best capital ratings in the country, and for the fourth quarter in a row we've maintained or improved our loan rating."
In addition, Edwards said that First Tennessee's stock price increased more than 35 percent last year.
Similarly, Bank of Bartlett officials said its "E-" rating does not reflect the institution's current status, but rather the national financial meltdown.
"All our loans were perfectly underwritten, but there was an economic implosion in this country the likes of which we hadn't seen since the Great Depression," said Bank of Bartlett president Harold Byrd. "We've worked our way through it, and we're in much better shape than what that data indicated last year."
On the positive side, there were 962 financial institutions with $484 billion, or 3.7 percent, of the industry's assets that earned a rating of "B+" (good) or higher.
Only one locally based bank appeared on the Weiss list of strongest banks, Financial Federal Savings Bank, which received a "B+" rating.
"Obviously we're pleased to be considered one of the strongest on the list, but as with any ratings of this sort, the most important factor to consider is capital," said William Tayloe, president of Financial Federal. "We have a strong capital base, which has been very important during these challenging times and has helped secure our continued growth and prosperity."
No local banks earned a top "A" rating, and no local financial institutions received a failing "F" rating.
The Jupiter, Fla.-based Weiss compiles ratings on more than 12,000 banks, savings and loan institutions and insurance companies.
For more information, go to weissratings.com.
-- James Dowd: 529-2737
Weiss Ratings Scale
E: Very weak
+: The upper third of each grade range
-: The lower third of each grade range
Shelby County bank listed as Strong
Financial Federal Savings Bank: B+
Shelby County banks listed as Weak
Bank of Bartlett: E-
First Alliance Bank: D
First Capital Bank: D
First Tennessee Bank: D
Landmark Community Bank: D
Paragon National Bank: D
Tri-State Bank: D
Trust One Bank: D
© 2010 Memphis Commercial Appeal.
Danger Signs in 2009 at the Bank of Bartlett Continue in 2011 The Bank of Bartlett has a Texas Ratio of 142.62 % with the average U.S, Banks ratio being 24.44%. The Texas Ratio compares the amount of loans at risk and the amount of owned real estate with the amount a bank has on hand to cover any losses. As of September 30, 2010, Bank of Bartlett had $26,663,000 in non-current loans and $19,871,000 in owned real estate. To cover these potential losses it had $26,513,000 in equity and $6,114,000 in loans loss reserves. That gives it a Texas Ratio of 142.62%. The closer the Texas Ratio is to 100% and over, the less capital and reserves a bank has to absorb its loan losses. While the Bank of Bartlett boasts improvements in 2011, the continued decline in their ratios tells a different story. The Bank of Bartlett ended 2010 with $ 1Million in profit and then looses $1.5 Million in April of 2011 when once prominent real estate developer and long term Bank of Bartlett customer Rusty Hyneman filed Chapter 7. The Bank of Bartlett has a prior history of boasting end of year profits and then quietly restating them after official audits. Time and ratios will reveal the truth.
In 2011 the Bank of Bartlett increased their troubled assets from 36M to 44M while loosing almost 6M in capital. While they boasted in the local papers that they would end 2010 with a 1M profit, their audited first quarter 2011 financials revealed for three years running that they continued to loose money. Their current losses of 7M pretax and 15M after adjustments prove that they have no profit to apply long term tax credits to as they spiral down further. How long will the Fed let them play these games and how long will the media lie to the customers of the Bank?
Bank of Bartlett reports Continued losses and lays off 11 employees 2011 Friday, July 29, 2011
Still suffering aftershocks from the mortgage crisis and the financial industry meltdown, locally owned Bank of Bartlett is implementing personnel cuts to offset losses in the first half of this year.
The bank posted a $7.4 million loss from operations during the six-month period ending June 30, president Harold W. Byrd confirmed on Friday. An accounting requirement to reduce deferred tax assets by $8.2 million increased the loss to $15.6 million, but that figure does not reflect a loss from operations.
With $368 million in total assets, the Bank of Bartlett is the eighth-largest bank in Memphis based on deposits of $316.9 million.
To streamline operations and cut costs, on Friday the community bank laid off 11 full- and part-time workers, reducing its staff to 86. Most of the eliminated positions were long term BOB employees from the back office.
The Numbers Continue to Speak the Truth.
The Federal Reserve has sent Bank of Bartlett a notice of “Prompt Corrective Action” that suggests the bank is undercapitalized and requires the bank to raise capital within 90 days.
The notice is dated Monday, Jan. 30. The first sentence reads, in part, “The Board of Governors of the Federal Reserve System determined that, as of Oct. 27, 2011, Bank of Bartlett, Bartlett, Tennessee, a state chartered bank that is a member of the Federal Reserve system, was undercapitalized.”
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Bank of Bartlett had $18.64 million in non-current loans and owned real-estate with $24.72 million in equity and loan loss allowances on hand to cover it. This gives Bank of Bartlett a Texas Ratio of 75.38% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Bank of Bartlett experienced no significant changes from 79.62% as of December 31, 2012 to 75.38% as of December 31, 2013, resulting in a positive change of 5.33%.This indicates that the balance sheet and financial strength for Bank of Bartlett has had no significant changes in recent periods.
In the past year, Bank of Bartlett has decreased its total deposits by -$10.2 million, resulting in -3.2% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Bank of Bartlett has shown is below average.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Bank of Bartlett has $353.84 million in assets with $24.72 million in equity, resulting in a capitalization level of 6.99%, which is below average.
|FDIC Certificate #||23123|
|Assets and Liabilities|
|Equity Capital||$22.03 million|
|Loan Loss Allowance||$2.69 million|
|Unbacked Noncurrent Loans||$1.75 million|
|Real Estate Owned||$16.89 million|
|Historic Data - December 2012|
|Equity Capital||$25.13 million|
|Loan Loss Allowance||$4.27 million|
|Unbacked Noncurrent Loans||$1.75 million|
|Real Estate Owned||$20.50 million|
|Profit Margin - Quarterly|
|Net Interest Margin||2.99%|
|Return on Assets||0.22%|
|Return on Equity||3.37%|
|Interest Income||$9.73 million|
Sorry, we do not have rate data for Bank of Bartlett
|Bank of Bartlett Locations|
|West Poplar Avenue Branch||1020 West Popular Avenue||Collierville, TN 38017|
|Kirby Woods Branch||1870 Kirby Parkway||Germantown, TN 38138|
|Austin Peay Branch||3196 Austin Peay Highway||Memphis, TN 38128|
|Bank Of Bartlett||6281 Stage Road||Bartlett, TN 38134|
|Germantown Parkway Branch||678 North Germantown Parkway||Cordova, TN 38018|
|Germantown Branch||7708 Poplar Avenue||Germantown, TN 38138|
|U.S. Highway 64 Branch||7984 U.S. Highway 64||Bartlett, TN 38133|
|Houston Levee Branch||9915 Highway 64||Arlington, TN 38002|