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The First National Bank of Hugo

The First National Bank of Hugo
Overview / Commentary
321 4th Street
Hugo, CO 80821

The First National Bank of Hugo is headquartered in Hugo and is the 69th largest bank in the state of Colorado. It is also the 4,607th largest bank in the nation. It was established in 1903 and as of December of 2013, it had grown to 22 employees at 3 locations. The First National Bank of Hugo has a B+ health rating.

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Health

Data for Q4 2013

Institution Health

B+

Texas Ratio

GRADE:
A+

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 The First National Bank of Hugo had $907,000 in non-current loans and owned real-estate with $14.32 million in equity and loan loss allowances on hand to cover it. This gives The First National Bank of Hugo a Texas Ratio of 6.33% 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 The First National Bank of Hugo experienced no significant changes from 6.10% as of December 31, 2012 to 6.33% as of December 31, 2013, resulting in a negative change of 3.78%. This indicates that the balance sheet and financial strength for The First National Bank of Hugo has had no significant changes in recent periods.

Deposit Growth

GRADE:
D

In the past year, The First National Bank of Hugo has decreased its total deposits by -$5.71 million, resulting in -5.93% 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 The First National Bank of Hugo has shown is below average.

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. The First National Bank of Hugo has $106.36 million in assets with $14.32 million in equity, resulting in a capitalization level of 13.47%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #3029
Year Established1903
Employees22
Primary RegulatorOCC
Assets and Liabilities
Assets$106.36 million
Loans$51.07 million
Deposits$90.61 million
Equity Capital$13.25 million
Loan Loss Allowance$1.08 million
Unbacked Noncurrent Loans$795,000
Real Estate Owned$112,000
Historic Data - December 2012
Assets$112.81 million
Equity Capital$13.72 million
Loan Loss Allowance$1.14 million
Unbacked Noncurrent Loans$795,000
Real Estate Owned$69,000
Profit Margin - Quarterly
Net Interest Margin3.57%
Return on Assets1.05%
Return on Equity8.51%
Interest Income$3.92 million
Rates

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Locations


The First National Bank of Hugo Locations
The First National Bank Of Hugo321 4th StreetHugo, CO 80821
First Mountain Bank Branch409 Harrison AvenueLeadville, CO 80461
Limon Branch981 2nd StreetLimon, CO 80828