1st United Bank in Boca Raton, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of July 01, 1998

  • 1st United Bank in Boca Raton, Florida (FL)
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1st United Bank - Overview

  • General
  • FDIC Certificate #: 27136
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Wachovia Bank, National Association (#817)
    Federal Reserve ID: 1161917
    Date Established: December 17, 1987
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 40 (Interstate: No)
    OTS Docket #: 11120
    FDIC's unique #: 38849
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Oakar Institutions: Yes
    State Chartered: Yes
    Date of Deposit Insurance: December 17, 1987
    Last Structure Change Effective Date: July 01, 1998
    Last Structure Change Process Date: July 22, 1998
    Last Data Update: July 22, 1998
    Data Source Date: April 05, 2012
  • Location
  • Address: 980 North Federal Highway, Boca Raton, FL 33432
    County: Palm Beach
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: South Florida
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): West Palm Beach-Boca Raton, FL (#8960)
    Core Based Statistical Area (CBSA): Miami-Fort Lauderdale-Pompano Beach, FL (#33100)
    CBSA Metro Statistical Area: Miami-Fort Lauderdale-Pompano Beach, FL (#33100)
    Core Based Statistical Division: West Palm Beach-Boca Raton-Boynton Beach, FL (#48424)
  • Financial Summary
  • Total assets: $1,263.4 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1997)

  • Dollar figures in thousands
  • 331Total employees (full-time equivalent)
  • $916,649Total assets
  • $125,627Cash and due from depository institutions
  • $79,982Interest-bearing balances
  • $68,336Securities
  • $11,017Federal funds sold & reverse repurchase agreements
  • $529,881Net loans & leases
  • $11,398Loan loss allowance
  • $0Trading account assets
  • $15,133Bank premises and fixed assets
  • $657Other real estate owned
  • $160,061Goodwill and other intangibles
  • $0Life insurance assets
  • $5,937All other assets
  • $916,649Total liabilities and capital
  • $715,557Total liabilities
  • $696,699Total deposits
  • $514,899Interest-bearing deposits
  • $696,699Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $9,380Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $284Other borrowed funds
  • $0Subordinated debt
  • $9,194All other liabilities
  • $201,092Total equity capital
  • $201,092Total bank equity capital
  • $201,092Perpetual preferred stock
  • $0Common stock
  • $5,177Surplus
  • $195,266Undivided profits
  • Memoranda
  • $649Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $4,960Earning assets
  • $45Long-term assets (5+ years)
  • $2,957Average Assets, year-to-date
  • $689,216Average Assets, quarterly
  • $40,608Volatile liabilities
  • $756,480Insider loans
  • $820,339FHLB advances
  • $59,618Loans and leases held for sale
  • $4,587Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $68,669Total unused commitments
  • $0Restructured Loans and leases
  • $543,741Derivatives

Income and Expense (December 31, 1997)

  • Dollar figures in thousands
  • $8,192Total interest income
  • $2,491Total interest expense
  • $5,701Net interest income
  • $1,080Provision for loan and lease losses
  • $1,144Total noninterest income
  • $183Fiduciary activities
  • $579Service charges on deposit accounts
  • $0Trading account gains & fees
  • $382Additional noninterest income
  • $4,297Total noninterest expense
  • $1,387Salaries and employee benefits
  • $755Premises and equipment expense
  • $2,155Additional noninterest expense
  • $1,468Pre-tax net operating income
  • $0Securities gains (losses)
  • $782Applicable income taxes
  • $686Income before extraordinary items
  • $0Extraordinary gains - net
  • $686Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $1,051Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1997)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 1.25%Yield on earning assets
  • 0.38%Cost of funding earning assets
  • 0.87%Net interest margin
  • 0.17%Noninterest income to earning assets
  • 0.66%Noninterest expense to earning assets
  • 0.09%Net operating income to assets
  • 0.09%Return on assets (ROA)
  • 0.19%Pretax return on assets
  • 0.80%Return on equity (ROE)
  • 0.80%Retained earnings to average equity (YTD only)
  • 0.21%Net charge-offs to loans
  • 102.76%Credit loss provision to net charge-offs
  • 2.42%Efficiency ratio
  • 46,545Assets per employee
  • 2.77%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.11%Loss allowance to noncurrent loans
  • 229.80%Noncurrent assets plus other real estate owned to assets
  • 0.61%Noncurrent loans to loans
  • 0.92%Net loans and leases to deposits
  • 76.06%Net loans and leases to core deposits
  • 81.96%Equity capital to assets
  • 21.94%Core capital (leverage) ratio
  • 5.43%Tier 1 risk-based capital ratio
  • 7.55%Total risk-based capital ratio
  • Memoranda
  • $9Average assets
  • $756,480Average earning assets
  • $85,386Average equity
  • $655,907Average loans

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