First State Bank is a Tennessee-based bank that offers banking, finance, insurance, investment, and lending products and services to meet a range of its community’s needs. The bank seeks to actively partner with merchants and small businesses to help them with liquidity and growth financing needs that make it possible to expand their product or service offerings, and into new markets.
On its personal banking side, First State offers checking, savings, Certificate of Deposit (CD), and IRA accounts. Its checking account options offer an attractive simplicity, as only one offering has a monthly fee that is only applicable if the account falls below a certain balance. Several checking accounts offer qualifications for rewards like iTunes grants and earned interest, where customers are rewarded with bonuses for accomplishing certain tasks. Savings accounts are designed with different goals in mind and include a Christmas account and a children’s savings account. Each account offers interest compounded on a daily basis. Certificates of Deposit (CDs) are available in term lengths from 3 to 24 months and feature both fixed and variable rates. The business banking side includes many of the same accounts and come with cash management services.
First State Bank online banking provides a web-based system through which customers can review their account balances, transfer funds, pay bills, and set up recurring payments. The bank also makes a mobile banking app available that makes banking on via smartphone a convenient option.
First State Bank was established more than a hundred years ago in 1887 as The Weakley County Bank. It is a subsidiary of Community First Bancshares, a bank holding company. In 2003, the bank changed its name to First State Bank and moved its headquarters to Union City, Tennessee, where they remain today. The bank serves its customers through multiple branches located across the state of Tennessee.
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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 September 30, 2013 First State Bank (TN) had $15.13 million in non-current loans and owned real-estate with $191.87 million in equity and loan loss allowances on hand to cover it. This gives First State Bank (TN) a Texas Ratio of 7.89% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for First State Bank (TN) held steady from 7.85% as of September 30, 2012 to 7.89% as of September 30, 2013, resulting in a negative change of 0.50%. This indicates that the balance sheet and financial strength for First State Bank (TN) has held steady in recent periods.
In the past year, First State Bank (TN) has increased its total deposits by $69.81 million, resulting in 4.82% 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 State Bank (TN) has shown is excellent.
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 State Bank (TN) has $1.87 billion in assets with $191.87 million in equity, resulting in a capitalization level of 10.25%, which is above average.
|FDIC Certificate #||1479|
|Assets and Liabilities|
|Equity Capital||$175.84 million|
|Loan Loss Allowance||$16.03 million|
|Unbacked Noncurrent Loans||$7.29 million|
|Real Estate Owned||$7.85 million|
|Historic Data - September 2012|
|Equity Capital||$183.02 million|
|Loan Loss Allowance||$17.65 million|
|Unbacked Noncurrent Loans||$7.29 million|
|Real Estate Owned||$8.17 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.51%|
|Return on Assets||1%|
|Return on Equity||9.82%|
|Interest Income||$53.10 million|
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|0.50%||$25||$5k||Christmas Club - Premium Relationship Rate|
|0.25%||$25||$5k||Christmas Club - Standard Rate|
|1.75%||-||$15k||FirstChecking Plus Interest|
|0.05%||-||-||FirstChecking Plus Interest|
|0.90%||$1k||-||60 Month CD|
|0.65%||$1k||-||48 Month CD|
|0.45%||$1k||-||36 Month CD|
|0.40%||$1k||-||24 Month CD|
|0.40%||$1k||-||24 Month Advantage CD - Bump Up Twice|
|0.35%||$1k||-||18 Month CD|
|0.30%||$1k||-||12 Month CD|
|0.30%||$1k||-||12 Month Advantage CD - Bump Up Once|
|0.20%||$1k||-||6 Month CD|
|0.10%||$1k||-||3 Month CD|