Spirit of Texas Bank, SSB
Spirit of Texas Bank, SSB reported total assets of $3.2 bn at Q1 2022, its last Call Report before it merged into Simmons Bank. Its common equity tier 1 ratio was 11.49%, and an estimated 45.47% of domestic deposits were uninsured. Source: FDIC Call Report data, cross-checked against FFIEC filings.
- Bank equity capital: down 12.7% on Q4 2021, to $360.6 mn
- Uninsured share of domestic deposits: up 1.97 pp on Q4 2021, to 45.47%
- Common equity tier 1 (CET1) ratio: down 1.34 pp on Q4 2021, to 11.49%
Ranks compare banks in our US coverage that report each metric. Sparklines: the last ten years. Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Overview
What stands out about Spirit of Texas Bank, SSB?
Its largest one-quarter change in total assets since Q1 2016 was +33.1% between Q3 2018 and Q4 2018, when it absorbed The Comanche National Bank.
How large is Spirit of Texas Bank, SSB?
At Q1 2022 the bank held $3.2 bn of assets. Deposits were $2.8 bn and net loans and leases $2.4 bn, a loan-to-deposit ratio of 84.16%. Securities of $384.7 mn made up 11.9% of assets.
Total assets rose 273.8% between Q1 2016 and Q1 2022, from $861.9 mn.
How much of its funding is uninsured?
An estimated 45.47% of domestic deposits were above the FDIC insurance limit at Q1 2022, +1.97 pp from the previous quarter and +6.61 pp from a year earlier.
Key facts, Q1 2022
| Metric | Value | Change from a year earlier | US rank |
|---|---|---|---|
| Total assets | $3.2 bn | +1.7% | |
| Total deposits | $2.8 bn | +7.1% | |
| Net loans and leases | $2.4 bn | -2.3% | |
| Bank equity capital | $360.6 mn | -3.6% | |
| Common equity tier 1 (CET1) ratio | 11.49% | -1.36 pp | |
| Tier 1 leverage ratio | 9.53% | -0.48 pp | |
| Return on equity (ROE) | 11.93% | +0.06 pp | |
| Net interest margin | 3.93% | -0.01 pp | |
| Uninsured share of domestic deposits | 45.47% | +6.61 pp | |
| Noncurrent loans to total loans | 0.18% | -0.22 pp | |
| Net charge-offs to average loans | 0.15% | +0.02 pp |
US rank: rank among the banks in our coverage reporting each metric, 1 = highest unless marked 1 = lowest.
Balance sheet
Total assets, deposits and net loans, quarterly, Q1 2016 to Q1 2022. Dashed amber lines mark the mergers and acquisitions listed under Mergers and acquisitions.
- Total assets $3.2bn
- Deposits $2.8bn
- Net loans $2.4bn
Capital and securities
The common equity tier 1 (CET1) ratio was 11.49% at Q1 2022, -1.36 pp from a year earlier. Since Q1 2016 it has ranged from 10.53% (Q3 2018) to 13.98% (Q4 2019). At Q1 2022 the tier 1 leverage ratio was 9.53% and the total risk-based capital ratio 12.14%. The median CET1 ratio of the size peers listed below was 15.41% at Q1 2022.
Available-for-sale securities showed an unrealized loss of $33.8 mn at Q1 2022; the loss widened by $28.1 mn from a year earlier.
Capital ratios
- Total capital 12%
- CET1 11%
- Tier 1 leverage 9.5%
Unrealized gains and losses on securities
- Available for sale -$34mn
- Held to maturity $0
Profitability and loan quality
Return on equity was 11.93% for the year to Q1 2022, annualized, with a return on assets of 1.42% and a net interest margin of 3.93%. The margin was -0.01 pp from a year earlier. The efficiency ratio, noninterest expense as a share of revenue as the FDIC defines it, was 52.40%. Net income for the year to Q1 2022 was $11.5 mn, up 4.7% on the same period a year earlier. The median return on equity of its size peers was 9.75% for the same period.
Noncurrent loans, those 90 days or more past due or no longer accruing interest, were 0.18% of total loans at Q1 2022. Net charge-offs for the year to date were 0.15% of average loans, annualized.
Profitability
- Return on equity 12%
- Net interest margin 3.9%
- Return on assets 1.4%
Compared with banks of similar size
The six banks ranked closest to Spirit of Texas Bank, SSB by total assets at Q1 2022, three above and three below where possible.
Among the seven banks in the table at Q1 2022, Spirit of Texas Bank, SSB is 4th by total assets. Its CET1 ratio of 11.49% compares with a peer median of 15.41%, its tier 1 leverage ratio of 9.53% compares with a peer median of 10.96%, and its return on equity of 11.93% compares with a peer median of 9.75%.
| Bank | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|
| Southern Bank | $3.2 bn | 11.94% | 12.90% | 15.64% | |
| NATIONAL COOPERATIVE BANK | $3.2 bn | 15.24% | 5.04% | 62.19% | |
| First Community Bank | $3.2 bn | 12.62% | 9.51% | 8.33% | |
| Spirit of Texas Bank, SSB | $3.2 bn | 11.49% | 11.93% | 45.47% | |
| Primis Bank | $3.2 bn | 15.66% | 4.80% | 36.93% | |
| Red River Bank | $3.2 bn | 15.57% | 11.19% | 40.75% | |
| Leader Bank | $3.2 bn | 17.69% | 10.00% | 51.11% | |
Q1 2022. Peer median (the six banks, excluding this one): CET1 15.41%, return on equity 9.75%. Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Last eight quarters
Spirit of Texas Bank, SSB, as reported in its Call Reports.
From Q2 2020 to Q1 2022, total assets rose 8.8% to $3.2 bn, deposits rose 16.0% to $2.8 bn and bank equity capital rose 2.9% to $360.6 mn. Over the same period its full-time equivalent staff went from 437 to 349 and its offices went from 39 to 37.
| Metric | Q2 2020 | Q3 2020 | Q4 2020 | Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $3.0 bn | $2.9 bn | $3.1 bn | $3.2 bn | $3.1 bn | $3.2 bn | $3.3 bn | $3.2 bn |
| Total deposits | $2.4 bn | $2.3 bn | $2.5 bn | $2.6 bn | $2.6 bn | $2.7 bn | $2.8 bn | $2.8 bn |
| Bank equity capital | $350.5 mn | $355.7 mn | $368.9 mn | $374.1 mn | $396.5 mn | $406.3 mn | $413.3 mn | $360.6 mn |
| Common equity tier 1 (CET1) ratio | 12.61% | 12.59% | 12.29% | 12.85% | 13.41% | 13.44% | 12.83% | 11.49% |
| Return on equity (ROE) | 7.75% | 8.17% | 9.91% | 11.87% | 12.81% | 12.34% | 11.92% | 11.93% |
| Uninsured share of domestic deposits | 28.29% | 33.18% | 39.04% | 38.86% | 39.49% | 40.69% | 43.50% | 45.47% |
| Full-time equivalent employees | 437 | 432 | 386 | 377 | 380 | 382 | 380 | 349 |
| Number of offices | 39 | 39 | 40 | 39 | 39 | 39 | 37 | 37 |
Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Mergers and acquisitions
Figures before and after each event are not like for like.
- . Absorbed The Comanche National Bank (FDIC certificate 3145).
- . Absorbed The First National Bank of Beeville (FDIC certificate 3095).
- . Absorbed Citizens State Bank (FDIC certificate 19806).
- . Merged into Simmons Bank (FDIC certificate 3890).
Large one-quarter moves
- Total assets changed by +33.1% in the quarter to 2018-12-31: Merger -Without Assistance; Participated in Absorbtion/Consolidation/Merger: acquired from The Comanche National Bank.
- Total assets changed by +28.7% in the quarter to 2019-06-30: Merger -Without Assistance; Participated in Absorbtion/Consolidation/Merger: acquired from The First National Bank of Beeville.
Source: FDIC BankFind API, institution history. Moves of more than 25% in one quarter are checked against that history in our review.
Identifiers and sources
- FDIC certificate
- 22327
- Federal Reserve RSSD ID
- 260868
- Head office
- College Station, Texas
- Holding company
- SPIRIT OF TEXAS BANCSHARES INC (as reported to the FDIC)
- Holding company RSSD ID
- 3818390
- EconoMonitor ID
- EMB-US-000514
Frequently asked questions
What were Spirit of Texas Bank, SSB's total assets?
$3.2 bn at Q1 2022, according to its Call Report as published by the FDIC.
Is Spirit of Texas Bank, SSB the same as its holding company?
No. This page covers the FDIC-insured bank (certificate 22327). Its holding company, SPIRIT OF TEXAS BANCSHARES INC (as reported to the FDIC), reports separately to the Federal Reserve and, if its shares are listed, to the SEC.
How often is this page updated?
Every quarter, after Spirit of Texas Bank, SSB files its Call Report and the FDIC publishes it. This page shows Q1 2022, loaded on 19 October 2026; any sentence that uses an earlier quarter names it.
Where can I check these numbers?
In the FDIC BankFind Suite record for certificate 22327, and in the Call Reports filed under RSSD ID 260868 at the FFIEC Central Data Repository.
Sources and definitions
Definitions, Call Report fields and formulas for each metric: Bank equity capital, Uses community bank leverage ratio framework, Common equity tier 1 (CET1) ratio, Deposits in domestic offices, Efficiency ratio, Full-time equivalent employees, Loan-to-deposit ratio, Total loans and leases (gross), Net loans and leases, Net charge-offs to average loans, Net income (year to date), Net interest margin, Noncurrent loans to total loans, Number of offices, Return on assets (ROA), Return on equity (ROE), Available-for-sale securities (amortized cost), Available-for-sale securities (fair value), Held-to-maturity securities (amortized cost), Held-to-maturity securities (fair value), Total securities, Tier 1 leverage ratio, Total assets, Total deposits, Total equity capital, Total risk-based capital ratio, Uninsured share of domestic deposits, Estimated uninsured deposits, Unrealized gain/loss on available-for-sale securities, Unrealized gain/loss on held-to-maturity securities.
Checks for this release: Check A (database against the FDIC download) passed, Check B (FDIC against FFIEC Call Report filings) passed.
Source: FDIC BankFind Suite (Call Report data). EconoMonitor is not affiliated with or endorsed by the FDIC. FDIC BankFind Suite API.
Source: FFIEC Central Data Repository (Call Reports). EconoMonitor is not affiliated with or endorsed by the FFIEC. FFIEC Central Data Repository, Public Data Distribution.
Data and analysis only, not financial advice. The FDIC and the FFIEC do not endorse EconoMonitor. See the disclaimer and methodology.