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 |
|---|---|
| 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 |
|---|---|
| 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 |
|---|---|
| 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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