Annual Disclosure Statement

Transcription

1 Annual Disclosure Statement DECEMBER 2013 for FFIEC 041 Bank Fidelity Bank & Trust This statement has not been reviewed or confirmed for accuracy or relevance by the Federal Reserve System. Federal Reserve System Format (FFIEC 041)

2 Balance Sheet ASSETS December 31, Cash and balances due from depository institutions: Noninterest-bearing balances and currency and coin Interest-bearing balances Securities: Held-to-maturity securities Available-for-sale securities Federal funds sold and securities purchased under agreements to resell: Federal funds sold Securities purchased under agreements to resell Loans and lease financing receivables: Loans and leases held for sale Loans and leases, net of unearned income LESS: Allowance for loan and lease losses Loans and leases, net of unearned income and allowance Trading assets Premises and fixed assets (including capitalized leases) Other real estate owned Investments in unconsolidated subsidiaries and associated companies Direct and indirect investments in real estate ventures Intangible assets: Goodwill Other intangible assets Other assets Total assets 14,663 19,326 17,049 33,285 14,700 15,020 83,087 65, , , ,120 6,548 5, , ,350 9,522 8,997 4,281 3,681 11,284 11, ,262 9, , ,378

3 Balance Sheet LIABILITIES December 31, Deposits: In domestic offices Noninterest-bearing Interest-bearing Federal funds purchased and securities sold under agreements to repurchase: Federal funds purchased Securities sold under agreements to repurchase Trading liabilities Other borrowed money (includes mortgage indebtedness and obligations under capitalized leases) Subordinated notes and debentures Other liabilities Total liabilities 486, ,228 62,511 67, , ,567 26,689 26,230 12,363 12,546 2, , ,868 EQUITY CAPITAL Perpetual preferred stock and related surplus Common stock Surplus (exclude all surplus related to preferred stock) Retained earnings Accumulated other comprehensive income Other equity capital components Total Bank equity capital Noncontrolling (minority) interests in consolidated subsidiaries Total equity capital Total liabilities and equity capital ,458 38,458 31,701 29, ,615 68,510 69,615 68, , ,378

4 Income Statement December 31, Interest Income: Interest and fee income on loans: Loans secured by real estate: Loans secured by 1-4 family residential properties All other loans secured by real estate Commercial and industrial loans Loans to individuals for household, family, and other personal expenditures: Credit cards Other (includes single payment, installment, all student loans, and revolving credit plans other than credit cards) Loans to foreign governments and official institutions All other loans Total interest and fee income on loans Income from lease financing receivables Interest income on balances due from depository institutions Interest and dividend income on securities: U.S. Treasury securities and U.S. Government agency obligations (excluding mortgage-backed securities) Mortgage-backed securities All other securities (includes securities issued by states and political subdivisions in the U.S.) Interest income from trading assets Interest income on federal funds sold and securities purchased under agreements to resell Other interest income Total interest income 2,389 2,917 10,269 10,239 3,359 3, ,348 4,880 20,632 21, ,147 1, ,643 23,512 Interest expense: Interest on deposits: Transaction accounts (interest-bearing demand deposits, NOW accounts, ATS accounts, and telephone and preauthorized transfer accounts) Nontransaction accounts: Savings deposits (includes MMDAs) Time deposits of $100,000 or more Time deposits of less than $100,000 Expense of federal funds purchased and securities sold under agreements to repurchase Interest on trading liabilities and other borrowed money Interest on subordinated notes and debentures Total interest expense Net interest income Provision for loan and lease losses ,286 1,445 1,932 2, ,084 5,163 18,559 18,349 1,200 1,275

5 Income Statement December 31, Noninterest income: Income from fiduciary activities Service charges on deposit accounts Trading revenue Fees and commissions from securities brokerage Investment banking, advisory, and underwriting fees and commissions Fees and commissions from annuity sales Underwriting income from insurance and reinsurance activities Income from other insurance activities Venture capital revenue Net servicing fees Net securitazation income Net gains (losses) on sales of loans and leases Net gains (losses) on sales of other real estate owned Net gains (losses) on sales of other assets (excluding securities) Other noninterest income Total noninterest income Realized gains (losses) on held-to-maturity securities Realized gains (losses) on available-for-sale securities ,010 1,745 2,011 2,672 Noninterest expense: Salaries and employee benefits Expenses of premises and fixed assets (net of rental income) (excluding salaries and employee benefits and mortgage interest) Goodwill impairment losses Amortization expense and impairment losses for other intangible assets Other noninterest expense Total noninterest expense 6,759 6,617 1,510 1, ,972 3,824 12,318 12,035 Income (loss) before income taxes and extraordinary items, and other adjustments Applicable income taxes Income (loss) before extraordinary items and other adjustments Extraordinary items and other adjustments, net of income taxes Net income (loss) attributable to bank and noncontrolling (minority) interests LESS: Net income (loss) attributable to noncontrolling (minority) interests Net income (loss) attributable to bank 7,052 7,711 2,377 2,669 4,675 5,042 4,675 5,042 4,675 5,042

6 Income Statement MEMORANDA: December 31, Interest expense incurred to carry tax-exempt securities, loans, and leases acquired after August 7, 1986, that is not deductible for federal income tax purposes Income from the sale and servicing of mutual funds and annuities Income on tax-exempt loans and leases to states and political subdivisions in the U.S. Income on tax-exempt securities issued by states and political subdivisions in the U.S. Number of full-time equivalent employees at end of current period Interest and fee income on loans to finance agricultural production and other loans to farmers 4,058 4,437 Trading revenue (from cash instruments and derivative instruments) (To be completed by banks that reported average trading assets of $2 million or more for any quarter of the preceding calendar year.): Interest rate exposures Foreign exchange exposures Equity security and index exposures Commodity and other exposures Credit exposures Memoranda Items 8.f and 8.g are to be completed by banks $100 billion or more in total assets that are required to complete Schedule RI, Memorandum items 8.a through 8.e, above.(1) Impact on trading revenue of changes in the creditworthiness of the bank's derivatives counterparties on the bank's derivative assets (included in Memorandum items above) Impact on trading revenue of changes in the creditworthiness of the bank on the bank's derivative liabilities (included in Memorandum items 8.a. through 8.e above) Net gains (losses) recognized in earnings on credit derivatives that economically hedge credit exposures held outside the trading account: Net gains (losses) on credit derivatives held for trading Net gains (losses) on credit derivatives held for purposes other than trading Credit losses on derivatives Does the reporting bank have a Subchapter S election in effect for YES / NO YES / NO federal income tax purposes for the current tax year? NO NO Noncash income from negative amortization on closed-end loans secured by 1-4 family residential properties (included in Schedule RI, item 1.a.(1)) Net gains (losses) recognized in earnings on assets and liabilities that are reported at fair value under a fair value option: Net gains (losses) on assets Estimated net gains (losses) on loans attributable to changes in instrument-specific credit risk Net gains (losses) on liabilities Estimated net gains (losses) on liabilities attributable to changes in instrument-specific credit risk

7 Income Statement MEMORANDA: December 31, Other-than-temporary impairment losses on held-to-maturity and available-for-sale debt securities: Total other-than-temporary impairment losses Portion of losses recognized in other comprehensive income (before income taxes) Net impairment losses recognized in earnings

8 Changes in Equity Capital December 31, Total bank equity capital most recently reported at the end of the prior year Reports of Condition and Income Restatements due to corrections of material accounting errors and changes in accounting principles Balance end of previous calendar year as restated Net income (loss) attributable to bank Sale, conversion, acquisition, or retirement of capital stock, net (excluding treasury stock transactions) Treasury stock transactions, net Changes incident to business combinations, net LESS: Cash dividends declared on preferred stock LESS: Cash dividends declared on common stock Other comprehensive income Other transactions with parent holding company Total bank equity capital end of current period 68,510 65,290 68,510 65,290 4,675 5,042 2,400 2,000-1, ,615 68,510 Changes in Allowance for Loan and Lease Losses Balance most recently reported at the end of the prior year Reports of Condition and Income Recoveries LESS: Charge-offs LESS: Write-downs arising from transfers of loans to a held-for-sale account Provision for loan and lease losses Adjustments Balance end of current period 5,770 6, ,588 1,200 1,275 6,548 5,770

9 Past Due and Nonaccrual Loans, Leases, and Other Assets Past Due 90 days or more and still accruing: December 31, Loans secured by real estate: Construction, land development, and other land loans: 1-4 family residential construction loans Other construction loans and all land development and other land loans Secured by farmland Secured by 1-4 family residential properties: Revolving, open-end loans secured by 1-4 family residential properties and extended under lines of credit Closed-end loans secured by 1-4 family residential properties Secured by first liens Secured by junior liens Secured by multifamily (5 or more) residential properties Secured by nonfarm nonresidential properties: Loans secured by owner-occupied nonfarm nonresidential properties Loans secured by other nonfarm nonresidential properties Loans to depository institutions and acceptances of other banks Commercial and industrial loans Loans to individuals for household, family, and other personal expenditures: Credit cards Automobile loans Other (includes single payment, installment, all student loans, and revolving credit plans other than credit cards) Loans to foreign governments and official institutions All other loans Lease financing receivables Debt securities and other assets (exclude other real estate owned and other repossessed assets) Loans and leases reported above which are wholly or partially guaranteed by the U.S. Government, excluding loans and leases covered by loss-sharing agreements with the FDIC Guaranteed portion of loans and leases included above (exclude rebooked "GNMA loans") Rebooked "GNMA loans" that have been repurchased or are eligible for repurchase included above 0 669

10 Past Due 90 days or more and still accruing: December 31, Loans and leases reported in items above that are covered by loss-sharing agreements with the FDIC: Loans secured by real estate: Construction, land development, and other land loans: 1-4 family residential construction loans Other construction loans and all land development and other land loans Secured by farmland Secured by 1-4 family residential properties Revolving, open-end loans secured by 1-4 family residential properties and extended under lines of credit Closed-end loans secured by 1-4 family residential properties: Secured by first liens Secured by junior liens Secured by multifamily (5 or more) residential properties Secured by nonfarm nonresidential properties: Loans secured by owner-occupied nonfarm nonresidential properties Loans secured by other nonfarm nonresidential properties Commercial and industrial loans Loans to individuals for household, family, and other personal expenditures: Credit cards Automobile loans Other consumer loans (includes single payment, installment, all student loans, and revolving credit plans other than credit cards) All other loans and all leases Loans to depository institutions and acceptances of other banks Loans to foreign govemments and official institutions Other loans Loans to finance agricultural production and other loans to farmers included in Schedule RC-N above Lease financing receivables Portion of covered loans and leases included in items 11.a through 11.e.3 above that is protected by FDIC loss-sharing agreements

11 Past Due 90 days or more and still accruing: December 31, MEMORANDA: Loans restructured in troubled debt restructurings included in Schedule RC-N, items above Construction, land development, and other land loans: 1-4 family residential construction loans Other construction loans and all land development and other land loans Loans secured by 1-4 family residential properties Secured by multifamily (5 or more) residential properties Secured by nonfarm nonresidential properties: Loans secured by owner-ocupied nonfarm nonresidential properties Loans secured by other nonfarm nonresidential properties Commercial and industrial loans The following two items are to be completed by banks with $300 millon or more in total assets. To U.S. addressees (domicile) To non-u.s. addressees (domicile) All other loans (Include loans to individuals for household, family, and other personal expenditures) Loans secured by farmland Loans to depository institutions and acceptances of other banks Loans to individuals for household, family, and other personal expenditures: Credit cards Automobile loans Other consumer loans (includes single payment, installment, all student loans, and revolving credit plans other than credit cards) Loans to foreign governments and offcial institutions Other Loans The following item is to be completed by: - Banks with $300 million or more in total assets - Banks with less than $300 milion in total assets that have loans to finance agricultural production and other loans to farmers Loans to finance agricultural production and other loans to farmers included in Schedule RC-N, Memorandum item above 0 669

12 Past Due 90 days or more and still accruing: December 31, Loans to finance commercial real estate, construction, and land development activities (not secured by real estate) Loans secured by real estate to non-u.s. addressees (domicile) Loans to and acceptances of foreign banks Commercial and industrial loans to non-u.s.addressees (domicile) Leases to individuals for household, family, and other personal expenditures Loans to finance agricultural production and other loans to farmers Loans and leases held for sale and loans measured at fair value Loans measured at fair value: Fair value Unpaid principal balance Derivative contracts: Fair value of amounts carried as assets Purchased credit-impaired loans accounted for in accordance with FASB ASC (former AICPA Statement of Position 03-3): Outstanding balance Carrying amount included in Schedule RC-N, items 1 through 7, above

13 Past Due and Nonaccrual Loans, Leases, and Other Assets Nonaccrual: December 31, Loans secured by real estate: Construction, land development, and other land loans: 1-4 family residential construction loans Other construction loans and all land development and other land loans Secured by farmland Secured by 1-4 family residential properties: Revolving, open-end loans secured by 1-4 family residential properties and extended under lines of credit Closed-end loans secured by 1-4 family residential properties Secured by first liens Secured by junior liens Secured by multifamily (5 or more) residential properties Secured by nonfarm nonresidential properties: Loans secured by owner-occupied nonfarm nonresidential properties Loans secured by other nonfarm nonresidential properties Loans to depository institutions and acceptances of other banks Commercial and industrial loans Loans to individuals for household, family, and other personal expenditures: Credit cards Automobile loans Other (includes single payment, installment, all student loans, and revolving credit plans other than credit cards) Loans to foreign governments and official institutions All other loans Lease financing receivables Debt securities and other assets (exclude other real estate owned and other repossessed assets) Loans and leases reported above which are wholly or partially guaranteed by the U.S. Government, excluding loans and leases covered by loss-sharing agreements with the FDIC Guaranteed portion of loans and leases included above (exclude rebooked "GNMA loans") Rebooked "GNMA loans" that have been repurchased or are eligible for repurchase included above ,441 2,978

14 Nonaccrual: December 31, Loans and leases reported in items above that are covered by loss-sharing agreements with the FDIC: Loans secured by real estate: Construction, land development, and other land loans: 1-4 family residential construction loans Other construction loans and all land development and other land loans Secured by farmland Secured by 1-4 family residential properties Revolving, open-end loans secured by 1-4 family residential properties and extended under lines of credit Closed-end loans secured by 1-4 family residential properties: Secured by first liens Secured by junior liens Secured by multifamily (5 or more) residential properties Secured by nonfarm nonresidential properties: Loans secured by owner-occupied nonfarm nonresidential properties Loans secured by other nonfarm nonresidential properties Commercial and industrial loans Loans to individuals for household, family, and other personal expenditures: Credit cards Automobile loans Other consumer loans (includes single payment, installment, all student loans, and revolving credit plans other than credit cards) All other loans and all leases Loans to depository institutions and acceptances of other banks Loans to foreign govemments and offcial institutions Other loans Loans to finance agricultural production and other loans to farmers included in Schedule RC-N above Lease financing receivables Portion of covered loans and leases included in items 11.a through 11.e.3 above that is protected by FDIC loss-sharing agreements

15 Nonaccrual: December 31, MEMORANDA: Loans restructured in troubled debt restructurings included in Schedule RC-N, items above Construction, land development, and other land loans: 1-4 family residential construction loans Other construction loans and all land development and other land loans Loans secured by 1-4 family residential properties Secured by multifamily (5 or more) residential properties Secured by nonfarm nonresidential properties: Loans secured by owner-ocupied nonfarm nonresidential properties Loans secured by other nonfarm nonresidential properties Commercial and industrial loans: The following two items are to be completed by banks with $300 millon or more in total assets. To U.S. addressees (domicile) To non-u.s. addressees (domicile) All other loans (Include loans to individuals for household, family, and other personal expenditures) Loans secured by farmland Loans to depository institutions and acceptances of other banks Loans to individuals for household, family, and other personal expenditures: Credit cards Automobile loans Other consumer loans (includes single payment, installment, all student loans, and revolving credit plans other than credit cards) Loans to foreign governments and offcial institutions Other Loans The following item is to be completed by: - Banks with $300 million or more in total assets - Banks with less than $300 milion in total assets that have loans to finance agricultural production and other loans to farmers Loans to finance agricultural production and other loans to farmers included in Schedule RC-N, Memorandum item above

16 Nonaccrual: December 31, Loans to finance commercial real estate, construction, and land development activities (not secured by real estate) Loans secured by real estate to non-u.s. addressees (domicile) Loans to and acceptances of foreign banks Commercial and industrial loans to non-u.s.addressees (domicile) Leases to individuals for household, family, and other personal expenditures Loans to finance agricultural production and other loans to farmers Loans and leases held for sale and loans measured at fair value Loans measured at fair value: Fair value Unpaid principal balance Additions to nonaccrual assets during the quarter Nonaccrual assets sold during the quarter Purchased credit-impaired loans accounted for in accordance with FASB ASC (former AICPA Statement of Position 03-3): Outstanding balance Carrying amount included in Schedule RC-N, items 1 through 7, above 0 1,360 I do hereby attest that this Disclosure Statement has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct in the best of my knowledge and belief. Officer's Signature Officer's Title Date