First Bank & Trust (Lubbock, TX) (merged into HTLF Bank)
First Bank & Trust (Lubbock, TX) reported total assets of $2.9 bn at Q1 2023, its last Call Report before it merged into HTLF Bank. The CET1 capital ratio at First Bank & Trust (Lubbock, TX) was 12.87%, and the uninsured share of First Bank & Trust (Lubbock, TX) was 40.14%. Source: FDIC Call Reports.
Key takeaways
- Since , First Bank & Trust (Lubbock, TX) has taken over one institution; the latest was AIMBank on (FDIC Call Reports).
What sets First Bank & Trust (Lubbock, TX) apart
How large is First Bank & Trust (Lubbock, TX)?
The balance sheet of First Bank & Trust (Lubbock, TX) at : assets $2.9 bn, deposits $2.5 bn, net loans $1.6 bn (loans equal to 64.51% of deposits). Securities make up 30.8% of total assets at First Bank & Trust (Lubbock, TX). Since , when First Bank & Trust (Lubbock, TX) held $819.1 mn, its assets grew 260.1%. In the year to , deposits at First Bank & Trust (Lubbock, TX) rose 3.6% while its total assets rose 2.0%. At , First Bank & Trust (Lubbock, TX) employed 196 full-time equivalent staff across 18 offices, about $15.1 mn of assets per employee and $141.2 mn of deposits per office.
How much funding at First Bank & Trust (Lubbock, TX) is uninsured?
At First Bank & Trust (Lubbock, TX), uninsured deposits (above the FDIC limit) made up 40.14% of domestic deposits at (-10.06 pp on a year earlier). In dollars, First Bank & Trust (Lubbock, TX) estimated $1.0 bn of uninsured deposits.
Key facts, Q1 2023
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $2.5 bn | $2.5 bn (Q1 2022) | |
| Net loans and leases | $1.6 bn | $1.5 bn (Q1 2022) | |
| Loan-to-deposit ratio | 64.51% | 60.24% (Q1 2022) | |
| Tier 1 leverage ratio | 9.59% | 10.01% (Q1 2022) | |
| Total risk-based capital ratio | 13.87% | 14.76% (Q1 2022) | |
| Net interest margin | 3.15% | 3.29% (Q1 2022) | |
| Return on assets (ROA) | 0.78% | 0.69% (Q1 2022) | |
| Efficiency ratio | 68.49% | 66.69% (Q1 2022) | |
| Unrealized gain/loss on held-to-maturity securities | Loss of $4.5 mn | Turned from a gain into a loss | |
| Unrealized gain/loss on available-for-sale securities | Loss of $88.4 mn | Widened by $15.2 mn | |
| Noncurrent loans to total loans | 0.80% | 0.71% (Q1 2022) | |
| Net charge-offs to average loans | 0.02% | 1.18% (Q1 2022) |
US rank of First Bank & Trust (Lubbock, TX): 1 = highest unless marked 1 = lowest.
Balance sheet
First Bank & Trust (Lubbock, TX): assets, deposits and loans
- Total assets $2.9bn
- Deposits $2.5bn
- Net loans $1.6bn
Capital and securities
The CET1 ratio of First Bank & Trust (Lubbock, TX) stood at 12.87% in , -0.98 pp year on year. Low and high at First Bank & Trust (Lubbock, TX) since : 10.63% () to 14.56% (). Equity capital of First Bank & Trust (Lubbock, TX) at : $379.5 mn, or 12.9% of total assets. First Bank & Trust (Lubbock, TX) also reported a total capital ratio of 13.87% for , and a tier 1 leverage ratio of 9.59%.
On held-to-maturity securities, First Bank & Trust (Lubbock, TX) carried an unrealized loss of $4.5 mn at , equal to 1.2% of equity capital. The loss turned from a gain into a loss over the year. Its deepest point: $11.7 mn in . The available-for-sale portfolio of First Bank & Trust (Lubbock, TX) showed an unrealized loss of $88.4 mn at ; the loss widened by $15.2 mn over the year.
First Bank & Trust (Lubbock, TX): capital ratios
- Total capital 14%
- CET1 13%
- Tier 1 leverage 9.6%
First Bank & Trust (Lubbock, TX): unrealized securities gains and losses
- Available for sale -$88mn
- Held to maturity -$5mn
Profitability and loan quality
For the year to , First Bank & Trust (Lubbock, TX) earned a return on equity of 6.22%; return on assets: 0.78%. Net interest margin at First Bank & Trust (Lubbock, TX): 3.15%, -0.14 pp in a year. First Bank & Trust (Lubbock, TX) net income: $5.8 mn, up 15.3% year on year. The efficiency ratio of First Bank & Trust (Lubbock, TX) was 68.49%: about 68 cents cost per revenue dollar, against 74 cents at the median peer.
At , noncurrent loans were 0.80% of total loans at First Bank & Trust (Lubbock, TX); net charge-offs: 0.02% of average loans. Gross loans and leases at First Bank & Trust (Lubbock, TX): $1.7 bn at , against $1.5 bn at .
First Bank & Trust (Lubbock, TX): profitability
- Return on equity 6.2%
- Net interest margin 3.2%
- Return on assets 0.8%
Peer group of First Bank & Trust (Lubbock, TX)
The peer group of First Bank & Trust (Lubbock, TX) is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 3 share the charter type of First Bank & Trust (Lubbock, TX) (state nonmember bank) and 1 has its head office in Texas. Against them, First Bank & Trust (Lubbock, TX) shows CET1 ratio 12.87% against a peer median of 11.92%, return on equity 6.22% against a peer median of 7.42% and uninsured deposit share 40.14% against a peer median of 34.83%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| STAR Financial Bank | State nonmember bank | IN | $3.0 bn | 13.18% | 14.04% | 42.01% | |
| First Western Trust Bank | State nonmember bank | CO | $3.0 bn | 10.29% | 6.68% | 36.87% | |
| Lone Star National Bank | National bank | TX | $3.0 bn | 20.86% | 18.59% | 57.14% | |
| First Bank & Trust | State nonmember bank | TX | $2.9 bn | 12.87% | 6.22% | 40.14% | |
| BayCoast Bank | State-chartered stock savings bank | MA | $2.9 bn | 9.43% | 2.74% | 32.78% | |
| Industrial and Commercial Bank of China USA | National bank | NY | $2.9 bn | 17.62% | 7.92% | 26.95% | |
| Banterra Bank | State nonmember bank | IL | $2.9 bn | 10.66% | 6.91% | 17.82% | |
. FDIC Call Reports.
Last eight quarters
Two years at First Bank & Trust (Lubbock, TX), to : assets $2.9 bn to $2.9 bn, deposits $2.4 bn to $2.5 bn, equity $463.4 mn to $379.5 mn. Staff 295 to 196.
| Metric | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $2.9 bn | $2.9 bn | $2.9 bn | $2.9 bn | $3.0 bn | $3.0 bn | $3.0 bn | $2.9 bn |
| Total deposits | $2.4 bn | $2.4 bn | $2.4 bn | $2.5 bn | $2.5 bn | $2.6 bn | $2.6 bn | $2.5 bn |
| Bank equity capital | $463.4 mn | $463.6 mn | $459.1 mn | $420.6 mn | $382.9 mn | $354.7 mn | $364.4 mn | $379.5 mn |
| CET1 ratio | 13.73% | 14.56% | 14.43% | 13.85% | 12.60% | 12.15% | 12.51% | 12.87% |
| Return on equity (ROE) | 7.51% | 8.51% | 8.32% | 4.56% | 6.23% | 6.27% | 6.70% | 6.22% |
| Uninsured share of domestic deposits | 51.15% | 52.05% | 52.37% | 50.20% | 48.47% | 47.09% | 44.20% | 40.14% |
| Full-time equivalent employees | 295 | 286 | 279 | 268 | 253 | 226 | 211 | 196 |
| Number of offices | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of First Bank & Trust (Lubbock, TX), oldest first; figures before and after each event are not like for like.
- . Absorbed AIMBank (FDIC certificate 3304).
- . Merged into HTLF Bank (FDIC certificate 58458).
Large one-quarter moves at First Bank & Trust (Lubbock, TX)
- Total assets at First Bank & Trust (Lubbock, TX) changed by +146.0% in the quarter to 2020-12-31: Merger -Without Assistance; Participated in Absorbtion/Consolidation/Merger: acquired from AIMBank.
Questions and identifiers
What were the total assets of First Bank & Trust (Lubbock, TX)?
First Bank & Trust (Lubbock, TX) reported $2.9 bn at in its Call Report.
Is First Bank & Trust (Lubbock, TX) the same as its holding company?
No. This page covers First Bank & Trust (Lubbock, TX), FDIC certificate 14778; HEARTLAND FINANCIAL USA INC (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is First Bank & Trust (Lubbock, TX) profitable?
First Bank & Trust (Lubbock, TX) reported net income of $5.8 mn for the year to ; annualized return on equity: 6.22%. So yes: First Bank & Trust (Lubbock, TX) made a profit over these months.
When is data for First Bank & Trust (Lubbock, TX) next updated?
First Bank & Trust (Lubbock, TX) no longer files Call Reports; its data ends at .
Where can I check the figures for First Bank & Trust (Lubbock, TX)?
In the FDIC BankFind Suite record for certificate 14778, and in the Call Reports of First Bank & Trust (Lubbock, TX) (RSSD ID 294564) at the FFIEC Central Data Repository.