Profile: Community Bank Shares of Indiana Inc (CBIN.OQ)
19 Dec 2013
Community Bank Shares of Indiana, Inc. is a bank holding company. The Company’s wholly owned banking subsidiaries include Your Community Bank (YCB) and The Scott County State Bank (SCSB), collectively referred to as the Banks. The Banks are state-chartered commercial banks. YCB has three wholly owned subsidiaries to manage its investment portfolio. CBSI Holdings, Inc. and CBSI Investments, Inc., which jointly own CBSI Investment Portfolio Management, LLC, which holds and manages investment securities owned by the Bank. YCB also has a Community Development Entity (CDE) subsidiary named CBSI Development Fund, Inc. In April 2013, Your Community Bank acquired all the deposits and substantially all the assets of First Federal Bank.
The Company originates non-real estate related business loans to local businesses and professional organizations. This type of commercial loan has been offered at both variable rates and fixed rates and can be unsecured or secured by general business assets, such as equipment, accounts receivable or inventory. The Company's commercial real estate loans are secured by improved property, such as offices, small business facilities, apartment buildings, nursing homes, warehouses and other non-residential buildings. The Company originates one- to four-family, owner-occupied, residential mortgage loans secured by property located in the Company's market area. The majority of the Company's residential mortgage loans consist of loans secured by owner-occupied, single family residences. The Company offers residential mortgage loans for terms up to 30 years, with adjustable (ARM) or fixed interest rates.
The Company originates loans to finance the construction of owner-occupied residential property. The Company makes construction loans to private individuals for the purpose of constructing a personal residence or to local real estate builders and developers. Construction loans generally are made with either adjustable or fixed-rate terms, typically up to 12 months. The principal types of consumer loans offered by the Company are home equity lines of credit, auto loans, home improvement loans, and loans secured by deposit accounts. Some consumer loans are offered on a fixed-rate basis depending upon the borrower's preference. The Company's home equity lines of credit are generally secured by the borrower's principal residence and a personal guarantee. The Company originates qualified government guaranteed loans and and conventional secondary market loans which are sold with the servicing released.
The Company’s investment portfolio comprises state and municipal securities, residential mortgage-backed agencies issued by the United States Government sponsored entities securities, trust preferred securities and mutual funds. As of December 31, 2011, the Company had six trust preferred securities in its investment portfolio. As of December 31, 2011, its securities available for sale totaled $198.7 million. Mortgage-backed securities consist primarily of obligations insured or guaranteed by Federal Home Loan Mortgage Corporation, Federal National Mortgage Association, or Government National Mortgage Association.
Sources of Funds
The Company attracts deposits from the market areas it serves by offering a range of deposit accounts with a variety of rate structures and terms. As of December 31, 2011, its total deposits totaled to $581.4 million and total assets of $797.4 million. The Company’s other borrowings consist of repurchase agreements, lines of credit with other financial institutions, federal funds purchased, which represent overnight liabilities to non-affiliated financial institutions, and a structured repurchase agreement
Community Bank Shares of Indiana Inc
101 W SPRING ST,
P O Box 939
NEW ALBANY IN 47150