BANK47
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Data as of · sourced from FFIEC call reports. How we update
BANK47 is an FDIC-insured commercial bank headquartered in Union Springs, AL, established in 1990 (FDIC certificate 32968), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $97.0M, up 39.9% from Q2 2025, the 85th largest of 93 banks headquartered in Alabama. It reports no CET1 ratio; its Tier 1 leverage ratio was 12.97% at Q2 2026, above the 9% community bank leverage ratio requirement for being considered well capitalized.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 32968
- Headquarters
- Union Springs, AL
- Established
- 1990
- Total assets, Q2 2026
- $97.0M
- Assets vs Q2 2025
- +39.9%
- Tier 1 leverage ratio, Q2 2026
- 12.97%
- Domestic offices
- 2 FDIC institution directory, current count
- Routing number
- 062104070
- Asset rank in state
- 85th of 93 in Alabama
BANK47 spends more to run itself than most banks of its size. The Union Springs, Alabama bank had $97 million in assets at June 30, 2026, up 39.9% from a year earlier. It loses about $3.28 a year on every $100 of assets, lower than about 9 in 10 of the 583 banks with less than $100 million in assets (median $1.06). It also spends about 187 cents to bring in each dollar of revenue, 2.7 times the median of 69 cents for banks its size.
Problem loans fell by more than half over the year: loans on nonaccrual or 90 or more days past due, net of government guarantees are down to 0.18% of loans from 1.29%. It lost $748,000 in the quarter. Concentration is the risk to watch: it holds commercial real estate loans worth 1.4 times its capital, 5.2 times the median of 26% for banks its size.
As of June 30, 2026, BANK47 reported a return on assets of -3.28%, a nonperforming-loan ratio of 0.18% and a Texas ratio of 1.18%. The figures come from its call report filed with the FFIEC.
Of the 93 banks headquartered in Alabama, BANK47 is the 85th largest by total assets at Q2 2026. Quarter on quarter (Q1 2026 to Q2 2026), its total assets rose 10.2% to $97.0M, loans rose 26.1% and deposits rose 11.4%. 1-4 family residential loans made up 26.6% of its total loans on June 30, 2026, its largest category; next came non-owner-occupied commercial real estate loans at 21.6%. Its 2 offices in the FDIC Summary of Deposits are in Union Springs, AL and Huntsville, AL; its Union Springs office books 60% of its branch deposits. Judged on its Q2 2026 call report, BANK47 meets the community bank leverage ratio test for well capitalized.
Headquarters Profile
- Address
- 415a Church St Nw, Union Springs, AL 35801
- County
- Madison
- Metro Area
- Huntsville, AL
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- Atlanta (Region 5)
- Federal Reserve member
- No
- Federal Reserve district
- District 6, Atlanta
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 051
- Established
- May 18, 1990
- Former names
- LifeSteps Bank & Trust (2024-2025)
- Domestic offices
- 2 FDIC institution directory, current count
- Employees (FTE)
- 26
- Domestic deposits
- $87.7M
- Allowance for credit losses
- $1.6M
- Net charge-offs (YTD)
- -$48K
- Average total assets
- $91.3M
- Average total loans
- $57.4M
- Average interest-bearing deposits
- $71.8M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- May 18, 1990
- FDIC Cert
- 32968
- Fed RSSD
- 1474309
- Website
- www.bank-47.com →
Profitability
Q2 annualizedBalance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. As a community bank leverage ratio filer, BANK47 reports no risk-based capital ratios; its Tier 1 leverage ratio applies. How we compute these figures
Quarterly trends
Over the 12 quarters to Q2 2026, BANK47's total assets ran between $47.8M (Q3 2023) and $97.0M (Q2 2026), and it earned a profit in 1 of the 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$97.0M total assets against $69.3M; $88.7M total liabilities against $61.3M.
$63.6M net loans and leases against $37.9M; $87.7M total deposits against $60.5M.
$19.2M securities against $19.5M; $10.9M cash and balances due against $8.8M.
$1.2M total interest income against $874K; $479K total interest expense against $225K.
$686K net interest income against $649K.
$82K total noninterest income against $88K; $1.5M total noninterest expense against $1.6M.
$45K provision for credit losses against $120K.
-$748K net income against -$950K.
-3.28% return on assets against -5.10%; 2.99% net interest margin against 3.69%.
12.97% tier 1 leverage ratio against 16.33%.
Inside the full BANK47 terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeQuarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from -6.52% (Q3 2025) to -2.50% (Q3 2024) and its net interest margin ran from 2.90% (Q1 2026) to 3.69% (Q2 2025).
| Quarter | Leverage | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 12.97% | -3.28% | 0.18% | 1.18% | 2.99% |
| Q1 2026 | 13.50% | -5.28% | 0.81% | 4.25% | 2.90% |
| Q4 2025 | 11.79% | -5.84% | 0.13% | 0.72% | 3.14% |
| Q3 2025 | 16.43% | -6.52% | 1.15% | 4.42% | 3.37% |
| Q2 2025 | 16.33% | -5.10% | 1.29% | 5.57% | 3.69% |
| Q1 2025 | 17.07% | -4.05% | 1.55% | 4.91% | 3.30% |
| Q4 2024 | 18.25% | -4.14% | 1.75% | 4.86% | 3.56% |
| Q3 2024 | 20.23% | -2.50% | 1.71% | 4.02% | 3.45% |
Swipe the table sideways to see every column.
Branch Network
View all 2 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Union Springs Branch | Union Springs , AL | 36089 | $52.8M |
| BANK47 (main office) | Huntsville , AL | 35801 | $34.9M |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| May 19, 1990 | Structure Change | Acquired Phenix FS&LA F.A. Failure, Government Assistance Provided for the acquired bank | FFIEC NIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 1 event.
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- <0.1% of deposits in AL, rank 112 of 131 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- SBA 7(a) lending
- 1 loans, $115K approved, $115K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2002 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Enforcement actions, Mortgage lending (HMDA), Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about BANK47
What are BANK47's total assets?
As of the Q2 2026 filing, BANK47 reported total assets of $97.0 million in its FFIEC call report.
Where is BANK47 headquartered?
It is headquartered in Union Springs, AL, United States.
When was BANK47 founded?
It was established in 1990, per the FDIC institution directory.
Is BANK47 FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #32968). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates BANK47?
BANK47's primary federal regulator is the FDIC.
How many branches does BANK47 operate?
It operates 2 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is BANK47's Texas Ratio?
Its Texas Ratio is 1.18% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
What was BANK47 previously called?
The charter now named BANK47 has also operated as LifeSteps Bank & Trust (2024-2025), per FDIC structure-change records.
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