LINDEN BANCSHARES, INC - dallasfed.org/media/Documents/banking/nic/fry-6/2016/... · linden...

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Transcript of LINDEN BANCSHARES, INC - dallasfed.org/media/Documents/banking/nic/fry-6/2016/... · linden...

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LINDEN BANCSHARES, INC.

ANNUAL REPORT OF BANK HOLDING COMPANIES - FR Y-6

REPORT 1: ANNUAL REPORT TO SHAREHOLDERS FOR THE YEAR ENDED December 31, 2016

(Unaudited) 2016 2015 2014 2013 2012

AssetsCash and due from banks 7,286 3,723 4,329 3,303 7,221 Securities available for sale 5,137 7,133 9,316 12,550 18,767 Loans, net 141,553 126,056 135,285 130,255 124,216 Premises and equipment 6,315 523 578 5,170 5,441 Non-marketable equity securities 1,511 6,255 4,953 1,242 1,179 Prepaid FDIC assessment - - 556 Accrued interest receivable 607 1,220 1,227 578 631 Foreclosed assets 762 1,043 369 149 271 Other assets 399 375 263 240 282

Total assets 163,570 146,328 156,320 153,487 158,564

Liabilities and Stockholders' EquityDeposits:Noninterest-bearing deposits 33,222 28,450 24,684 23,751 24,276 Interest-bearing deposits 87,289 82,269 96,001 96,808 96,888 Total deposits 120,511 110,719 120,685 120,559 121,164

Borrowed funds:Federal funds purchased and securities sold and under the agreement to repurchase - - - - - Short-term debt - - 194 - - Federal Home Loan Bank advances 27,390 19,811 19,696 17,683 21,981 Long-term debt 5,076 5,268 3,760 4,015 4,269 Junior subordinated debentures 3,093 3,093 3,093 3,093 3,093

Total borrowed funds 35,559 28,172 26,743 24,791 29,343

Accrued interest payable 123 117 84 99 123 Other liabilities 535 617 733 673 740 Total liabilities 156,728 139,625 148,245 146,122 151,370

Common stock 7 7 7 7 7 Additional paid-in capital 3,872 2,636 2,636 2,636 2,636 Retained earnings 3,416 4,431 5,614 4,756 4,099 Treasury stock (544) (544) (450) (236) (236) Accumulated other comprehensive income 91 174 268 202 688

Total stockholders' equity 6,842 6,703 8,075 7,365 7,194

Total liabilities and stockholders' equity 163,570 146,328 156,320 153,487 158,564

Dividends paid - - 482 605 163

Selected Ratios(Based on end of period)Loans to deposits 117.46% 113.85% 112.10% 108.04% 102.79%Equity to loans 4.83% 5.32% 5.97% 5.65% 5.79%Equity to deposits 5.68% 6.05% 6.69% 6.11% 5.95%Equity to total assets 4.18% 4.59% 5.17% 4.80% 4.55%Return on average total assets -0.66% -0.78% 0.86% 0.81% 0.55%Return on average equity -14.99% -16.01% 17.34% 17.34% 12.60%Efficiency ratio 115.50% 120.74% 82.84% 83.45% 88.20%

Linden Bancshares, Inc. and SubsidiaryConsolidated Balance Sheet

Year endedDecember 31

(Unaudited) 2016 2015 2014 2013 2012

Interest IncomeInterest on loans 7,208 7,238 7,850 7,736 7,387 Interest on taxable securities 201 275 353 481 715 Interest on nontaxable securities - - - - - Interest on federal funds sold and other 25 - 1 1 1

Total interest income 7,434 7,513 8,204 8,218 8,103

Interest ExpenseInterest on deposits 503 544 670 837 1,085 Interest on FHLB advances 149 173 196 205 278 Interest on junior subordinated debentures 149 148 148 148 285 Interest on long-term debt and other borrowed fu 387 311 249 279 149

Total interest expense 1,188 1,176 1,263 1,469 1,797 Net interest income 6,246 6,337 6,941 6,749 6,306

Provision for loan losses 390 1,577 287 186 86 Net interest income after provision 5,856 4,760 6,654 6,563 6,220

Non-Interest IncomeService charges on deposit accounts 390 451 439 470 423 Gain on sale of investment securities - - - Other income 302 401 640 556 332

Total noninterest income 692 852 1,079 1,026 755

Non-Interest ExpenseSalaries and employee benefits 4,161 3,917 3,884 3,833 3,629 Loss on sale of investments - - - 7 2 Legal and professional 369 222 174 184 249 Data processing 648 536 468 457 439 Occupancy of bank premises 412 404 411 412 402 Equipment expense 370 391 403 404 395 Regulatory assessments 126 126 102 89 102 Loss on sale of foreclosed assets 376 57 54 25 89 Advertising 153 151 120 76 63 Other noninterest expense 948 991 778 840 768

Total noninterest expense 7,563 6,795 6,394 6,327 6,138

Net Income (1,015) (1,183) 1,339 1,262 837

Shares outstanding * 6,825 6,330 6,393 6,500 6,500 Average number of shares outstanding 6,371 6,368 6,429 6,500 6,450 Net income per average number of shares (159.31) (185.77) 208.28 194.15 129.77 Cash dividend per average number of shares - - 74.97 93.08 25.12 Book value per share 1,002.49 1,058.93 1,263.10 1,133.11 1,106.80 *All numbers in thousands except per share data.

Linden Bancshares, Inc. and SubsidiaryConsolidated Income Statement

Year endedDecember 31

LINDEN BANCSHARES, INC.

ANNUAL REPORT OF BANK HOLDING COMPANIES - FR Y-6

REPORT 2a: ORGANIZATION CHART FOR THE YEAR ENDED December 31, 2016

Linden Bancshares, Inc. OWN Linden Statutory Trust I Linden, Texas

549300IDL0UI2BPBTC52 Linden, Texas

N/A Incorporated in Texas 100% Incorporated in Texas

OWN

100%

Texana Bank, National Association Linden, Texas

N/A Incorporated in Texas

Results: A list of branches for your depository institution: TEXANA BANK, NATIONAL ASSOCIATION (ID_RSSD: 809650).This depository institution is held by LINDEN BANCSHARES, INC. (1104071) of LINDEN, TX.The data are as of 12/31/2016. Data reflects information that was received and processed through  01/10/2017.

Reconciliation and Verification Steps1. In the Data Action column of each branch row, enter one or more of the actions specified below2. If required, enter the date in the Effective Date column

ActionsOK: If the branch information is correct, enter 'OK'  in the Data Action column.Change: If the branch information is incorrect or incomplete, revise the data, enter 'Change'  in the Data Action column and the date when this information first became valid in the Effective Date column.Close: If a branch listed was sold or closed, enter 'Close'  in the Data Action column and the sale or closure date in the Effective Date column.Delete: If a branch listed was never owned by this depository institution, enter 'Delete'  in the Data Action column.Add: If a reportable branch is missing, insert a row, add the branch data, and enter 'Add'  in the Data Action column and the opening or acquisition date in the Effective Date column.

If printing this list, you may need to adjust your page setup in MS Excel. Try using landscape orientation, page scaling, and/or legal sized paper.

Submission ProcedureWhen you are finished, send a saved copy to your FRB contact.  See the detailed instructions on this site for more information.If you are e‐mailing this to your FRB contact, put your institution name, city and state in the subject line of the e‐mail.

Note:To satisfy the FR Y‐10 reporting requirements, you must also submit FR Y‐10 Domestic Branch Schedules for each branch with a Data Action of Change, Close, Delete, or Add.The FR Y‐10 report may be submitted in a hardcopy format or via the FR Y‐10 Online application ‐ https://y10online.federalreserve.gov.

* FDIC UNINUM, Office Number, and ID_RSSD columns are for reference only.  Verification of these values is not required.

Data Action Effective Date Branch Service Type Branch ID_RSSD* Popular Name Street Address City State Zip Code County Country FDIC UNINUM* Office Number* Head Office Head Office ID_RSSD* CommentsOK Full Service (Head Office) 809650 TEXANA BANK, NATIONAL ASSOCIATION      124 EAST RUSH STREET                 LINDEN           TX 75563      CASS           UNITED STATES   2138 0 TEXANA BANK, NATIONAL ASSOCIATION       809650OK Full Service 4935388 ARKANSAS BLVD BRANCH                                502 ARKANSAS BLVD                     TEXARKANA   AR 71854      MILLER       UNITED STATES   Not Required Not Required TEXANA BANK, NATIONAL ASSOCIATION       809650OK Full Service 3818505 HIGHWAY 80 BRANCH                                       915 EAST MARSHALL AVENUE     LONGVIEW    TX 75601      GREGG       UNITED STATES   478447 2 TEXANA BANK, NATIONAL ASSOCIATION       809650OK Full Service 3451658 SPRING HILL BRANCH                                        3814 GILMER ROAD                       LONGVIEW    TX 75604      GREGG       UNITED STATES   478446 1 TEXANA BANK, NATIONAL ASSOCIATION       809650OK Full Service 4191353 RICHMOND ROAD BRANCH                              3620 RICHMOND ROAD                TEXARKANA   TX 75503      BOWIE        UNITED STATES   512918 3 TEXANA BANK, NATIONAL ASSOCIATION       809650

(1)(a) (1)(b) (1)(c) (2)(a) (2)(b) (2)(c)

Name & Address (City, State, Country)

Country of Citizenship or Incorporation

Number and Percentage of Each Class of Voting Securities

Name & Address (City, State, Country)

Country of Citizenship or Incorporation

Number and Percentage of Each Class of Voting Securities

Rountree's Children's Trust #1, Linden TX USA 789 Common 11.56% N/A

Trustees: John R Rountree Nancy Rountree Fuller

John R. RountreeLinden, TX USA 2,352 Common 34.45%

Nancy Rountree FullerWhite Hall, AR USA 700 Common 10.26%

Howard C and Barbara F. GlickTexarkana, TX USA 575 Common 8.42%

Iva B. RountreeLinden, TX USA 692 Common 10.14%

Current Securities Holders with ownership, control or holdings of 5% or more with power to vote as of fiscal year ending 12-31-2016

Securities Holders not listed in 3(1)(a) through (3)(1)(c) that had ownership, control or holdings of 5% or more with power to vote during the fiscal year ending 12-31-2016

Form FR Y-6

Linden Bancshares, Inc. Linden, Texas

Fiscal Year Ending December 31, 2016

Report Item 3: Securities Holders

AMENDED

(1) (2) (3)(a) (3)(b) (3)(c) (4)(a) (4)(b) (4)(c)

Names & Address (City, State, Country)

Principal Occupation if other than with holding company

Title & Position with holding company

Title & Position with Subsidiaries (include names of subsidiaries)

Title & Position with Other Businesses (include names of other businesses)

Percentage of Voting Securities in holding company

Percentage of Voting Securities in Subsidiaries (include names of subsidiaries)

List names of other companies (includes partnerships) if 25% or more of voting securities are held (List names of companies and percentage of voting securities held)

John R. RountreeLinden, TX N/A Chairman Texana Bank, N.A.

President/CEO N/A 34.45% N/A N/A

Rountree's Children's Trust #1Linden, TX N/A Shareholder N/A N/A 11.56% N/A N/A

Nancy Rountree FullerWhite Hall, AR Businesswoman Director N/A

Fuller Hale-South Funeral, Vice

President10.26% N/A

Fuller Hale-South Funeral, 50% of

voting stock

Patricia Bates RountreeLinden, TX N/A Director

Texana Bank, N.A. EVP - Audit and

ComplianceN/A 0.53% N/A N/A

J. Patrick RountreeTexarkana, TX N/A Vice Chairman and

Secretary/TreasurerTexana Bank, N.A.

EVP - CFO N/A 1.47% N/A N/A

Form FR Y-6

Linden Bancshares, Inc. Linden, Texas

Fiscal Year Ending December 31, 2016

Report Item 4: Insiders(1)(a)(b)(c) and (2)(a)(b)(c)

Robert Michael RountreeKeller, TX N/A Director

Texana Bank, N.A. EVP - Chief Credit

OfficerN/A 1.47% N/A N/A

Brian G. HaysLinden, TX Self-employed

Farmer Director Texana Bank, N.A Director

Owner/Operator Farm 3.54% N/A

Owner/Operator Farm, 100% of voting

stock

Earl Wayne Rountree IVLinden, TX Businessman Director Texana Bank, N.A

Director

Texas Brand Bank, Account Services Representative

0.22% N/A N/A

Fred R. Norton, Jr.Texarkana, TX Lawyer Director Texana Bank, N.A

DirectorNorton & Wood, LLP, Law Partner 0.15% N/A Norton & Wood, LLP,

39% of voting stock

Howard C and Barbara F. GlickTexarkana, TX Businessman Director Texana Bank, N.A

DirectorTri-State Iron &

Metal Co., President 8.42% N/ATri-State Iron & Metal

Co., 25% of voting stock

Iva B. RountreeLinden, TX Retired, school

teacher Shareholder Texana Bank, N.A Director N/A 10.14% N/A N/A