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First Farmers Bank and Trust Company (IN)

First Farmers Bank and Trust Company (IN)
Overview / Commentary
123 North Jefferson Street
Converse, IN 46919

First Farmers Bank and Trust Company (IN) is headquartered in Converse and is the 14st largest bank in the state of Indiana. It is also the 550th largest bank in the nation. It was established in 1932 and as of March of 2014, it had grown to 275 employees at 28 locations. First Farmers Bank and Trust Company (IN) has a A+ health rating.

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Health

Data for Q1 2014

Institution Health

A+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 First Farmers Bank and Trust Company (IN) had $5.52 million in non-current loans and owned real-estate with $138.75 million in equity and loan loss allowances on hand to cover it. This gives First Farmers Bank and Trust Company (IN) a Texas Ratio of 3.98% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for First Farmers Bank and Trust Company (IN) experienced no significant changes from 3.78% as of March 31, 2013 to 3.98% as of March 31, 2014, resulting in a negative change of 5.04%. This indicates that the balance sheet and financial strength for First Farmers Bank and Trust Company (IN) has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, First Farmers Bank and Trust Company (IN) has increased its total deposits by $81.6 million, resulting in 8.72% 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 First Farmers Bank and Trust Company (IN) has shown is excellent.

Capitalization

GRADE:
A

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. First Farmers Bank and Trust Company (IN) has $1.23 billion in assets with $138.75 million in equity, resulting in a capitalization level of 11.26%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #12839
Year Established1932
Employees275
Primary RegulatorFED
Assets and Liabilities
Assets$1.23 billion
Loans$905.85 million
Deposits$1.02 billion
Equity Capital$126.02 million
Loan Loss Allowance$12.73 million
Unbacked Noncurrent Loans$4.60 million
Real Estate Owned$918,000
Historic Data - March 2013
Assets$1.13 billion
Equity Capital$111.08 million
Loan Loss Allowance$10.67 million
Unbacked Noncurrent Loans$4.60 million
Real Estate Owned$1.85 million
Profit Margin - Quarterly
Net Interest Margin3.94%
Return on Assets1.26%
Return on Equity12.41%
Interest Income$12.37 million
Rates

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Locations

First Farmers Bank and Trust Company (IN) has 24 locations. Click to view all First Farmers Bank and Trust Company (IN) locations.