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Overview / Commentary
321 4th Street
Hugo, CO 80821

The First National Bank of Hugo is headquartered in Hugo and is the 65th largest bank in the state of Colorado. It is also the 4,494th largest bank in the nation. It was established in 1903 and as of March of 2014, it had grown to 21 employees at 3 locations. The First National Bank of Hugo 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 The First National Bank of Hugo had $1.02 million in non-current loans and owned real-estate with $14.17 million in equity and loan loss allowances on hand to cover it. This gives The First National Bank of Hugo a Texas Ratio of 7.17% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for The First National Bank of Hugo decreased slightly from 8.62% as of March 31, 2013 to 7.17% as of March 31, 2014, resulting in a positive change of 16.79%.This indicates that the balance sheet and financial strength for The First National Bank of Hugo has improved slightly in recent periods.

Deposit Growth

GRADE:
C

In the past year, The First National Bank of Hugo has decreased its total deposits by -$1.73 million, resulting in -1.8% 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 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 $109.84 million in assets with $14.17 million in equity, resulting in a capitalization level of 12.90%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #3029
Year Established1903
Employees21
Primary RegulatorOCC
Assets and Liabilities
Assets$109.85 million
Loans$51.26 million
Deposits$94.16 million
Equity Capital$13.09 million
Loan Loss Allowance$1.08 million
Unbacked Noncurrent Loans$904,000
Real Estate Owned$112,000
Historic Data - March 2013
Assets$112.69 million
Equity Capital$13.99 million
Loan Loss Allowance$1.16 million
Unbacked Noncurrent Loans$904,000
Real Estate Owned$69,000
Profit Margin - Quarterly
Net Interest Margin3.59%
Return on Assets0.84%
Return on Equity6.87%
Interest Income$950,000
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