Dec, 31, 2023 — FIRST SOUTH FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in BARTLETT, TN with 16 branch locations and about $755.95 million in total assets. Opened 67 years ago in 1957, FIRST SOUTH FINANCIAL CREDIT UNION has about 73,243 members and employs 129 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | FIRST SOUTH FINANCIAL CREDIT UNION |
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Address: (Main Office) | 2723 Summer Oaks Dr BARTLETT, TN 38134 |
Phone: | (901) 380-7400 |
Fax: | (901) 380-7320 |
Website: | https://www.firstsouth.com |
Branches: | 16 branch locations |
Members: | 73,243 |
Credit Union Type: | Federally Insured State Chartered Credit Union |
Charter Number: | 68084 |
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Membership Type: | State chartered natural person |
Corporate Credit Union: | No |
Year Opened: | 1957 |
Last Audited: | Mar 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $755,948,628 |
CEO/Manager: | W. Craig Esrael |
Chairperson: | Eugene Douglass |
ASSETS: | $ Amount |
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Cash & Equivalents | 193,223,223 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 960,010 |
Real Estate Loans | 253,720,294 |
Unsecured Loans | 25,445,893 |
Other Loans | 223,396,996 |
TOTAL LOANS | 502,563,183 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -34,604,131 |
Land And Building | 11,537,364 |
Other Fixed Assets | 1,531,147 |
NCUSIF Deposit | 5,009,941 |
All Other Assets | 161,989 |
TOTAL ASSETS | 755,948,628 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 126,329 |
Notes & Interest Payable | 0 |
Accounts Payable & Other Liabilities | 15,025,323 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 113,668,828 |
Regular shares | 229,336,909 |
All Other Shares & Deposits | 187,942,767 |
TOTAL SHARES & DEPOSITS | 530,948,504 |
TOTAL LIABILITIES | 547,207,156 |
Regular Reserve | 0 |
Other Reserves | 651,418 |
Undivided Earnings | 208,090,054 |
TOTAL EQUITY | 208,741,472 |
TOTAL LIABILITIES, SHARES, & EQUITY | 755,948,628 |
INCOME & EXPENSE | |
Loan Income | 17,382,903 |
Investment Income | 11,896,763 |
Other Income | 18,016,109 |
Total Employee Compensation & Benefits | 19,272,192 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 11,333,342 |
Non-operating Income & (Expense) | 0 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 5,938,000 |
Cost of Funds | 3,107,605 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 14,005,400 |
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