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


1st United Bank - Overview

  • General
  • FDIC Certificate #: 35408
    Status: Active
    Federal Reserve ID: 2860440
    Bank Holding Company (Regulatory Top Holder): 1st United Bancorp, Inc. (RSSDID: 2860431, Location: Boca Raton, FL)
    Date Established: April 20, 2000
    WWW: http://www.1stunitedbankfl.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 24 (Domestic: 24, Interstate: No)
    FDIC's unique #: 79513
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: Yes
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: April 20, 2000
    Last Structure Change Effective Date: October 21, 2011
    Last Structure Change Process Date: October 24, 2011
    Last Data Update: October 24, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: One 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)
  • History of Changes
  • Participated in FDIC Assisted Absorption/Consolidation/Merger
  • Financial Summary
  • Total assets: $1,416.0 mil
    Equity capital: $179.6 mil
    Deposits held in domestic offices: $1,212.3 mil
    Return on assets (ROA): 0.31% ($4.4 mil)
    Quarterly return on assets: 0.28% ($4.0 mil)
    Return on Equity (ROE): 2.45% ($4.4 mil)
    Quarterly return on equity: 2.18% ($3.9 mil)
    Net income: $3.9 mil
    Quarterly Net income: $0.9 mil
    Pretax return on assets: 0.49% ($6,938.4 mil)
    Quarterly Pretax return on assets: 0.45% ($6,372.0 mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 284Total employees (full-time equivalent)
  • $1,416,005Total assets
  • $164,724Cash and due from depository institutions
  • $151,961Interest-bearing balances
  • $201,722Securities
  • $700Federal funds sold & reverse repurchase agreements
  • $863,931Net loans & leases
  • $12,336Loan loss allowance
  • $0Trading account assets
  • $12,326Bank premises and fixed assets
  • $13,512Other real estate owned
  • $55,229Goodwill and other intangibles
  • $1,416,005Life insurance assets
  • $103,861All other assets
  • $1,236,401Total liabilities and capital
  • $1,212,255Total liabilities
  • $870,701Total deposits
  • $1,212,255Interest-bearing deposits
  • $75Deposits held in domestic offices
  • 8399.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $5,347Trading liabilities
  • $0Other borrowed funds
  • $10,400Subordinated debt
  • $179,604All other liabilities
  • $179,604Total equity capital
  • $179,604Total bank equity capital
  • $0Perpetual preferred stock
  • $3,764Common stock
  • $163,043Surplus
  • $12,797Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $100Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $41,258Income earned, not collected on loans
  • $285Earning assets
  • $3,224Long-term assets (5+ years)
  • $1,218,314Average Assets, year-to-date
  • $434,908Average Assets, quarterly
  • $1,286,507Volatile liabilities
  • $1,329,280Insider loans
  • $651,963FHLB advances
  • $1,331,456Loans and leases held for sale
  • $5,093Unused loan commitments
  • $2,491Tier 1 (core) risk-based capital
  • $121,810Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $2,602Total unused commitments
  • $69,043Restructured Loans and leases
  • $13,553Derivatives
  • $4,345Total assets and liabilities in foreign offices

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $60,252Total interest income
  • $6,580Total interest expense
  • $53,672Net interest income
  • $7,000Provision for loan and lease losses
  • $1,435Total noninterest income
  • $0Fiduciary activities
  • $1,275Service charges on deposit accounts
  • $0Trading account gains & fees
  • $160Additional noninterest income
  • $42,109Total noninterest expense
  • $20,186Salaries and employee benefits
  • $7,680Premises and equipment expense
  • $14,243Additional noninterest expense
  • $5,998Pre-tax net operating income
  • $364Securities gains (losses)
  • $2,436Applicable income taxes
  • $3,926Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,926Net income attributable to bank
  • $0Net charge-offs
  • $3,926Cash dividends
  • $7,214Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.49%Yield on earning assets
  • 0.60%Cost of funding earning assets
  • 4.89%Net interest margin
  • 0.13%Noninterest income to earning assets
  • 3.83%Noninterest expense to earning assets
  • 0.29%Net operating income to assets
  • 0.31%Return on assets (ROA)
  • 0.49%Pretax return on assets
  • 2.45%Return on equity (ROE)
  • 2.45%Retained earnings to average equity (YTD only)
  • 0.87%Net charge-offs to loans
  • 97.03%Credit loss provision to net charge-offs
  • 1.80%Efficiency ratio
  • 75,480Assets per employee
  • 4.99%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.41%Loss allowance to noncurrent loans
  • 29.90%Noncurrent assets plus other real estate owned to assets
  • 3.87%Noncurrent loans to loans
  • 4.71%Net loans and leases to deposits
  • 71.27%Net loans and leases to core deposits
  • 74.83%Equity capital to assets
  • 12.68%Core capital (leverage) ratio
  • 9.15%Tier 1 risk-based capital ratio
  • 18.68%Total risk-based capital ratio
  • Memoranda
  • $20Average assets
  • $1,286,507Average earning assets
  • $160,427Average equity
  • $1,098,233Average loans

List of branches

  • 24 Florida Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0795131st United BankOne North Federal Highway, Boca Raton, FL 33432April 20, 2000Full Service Brick and Mortar
    2365479Messengr Service Branch741 U.S. Highway One, North Palm Beach, FL 33408April 26, 2002Limited Service Messenger
    3424732North Palm Beach Branch741 U.S. Highway One, North Palm Beach, FL 33408November 01, 2003Full Service Brick and Mortar
    436153Cooper City Branch5854 South Flamingo Road, Cooper City, FL 33330January 14, 1987Full Service Brick and Mortar
    5430017Downtown Wpb Branch307 Evernia Street, West Palm Beach, FL 33401May 17, 2004Full Service Retail
    6454674Palm Beach Branch335 South County Road, Palm Beach, FL 33480January 02, 2006Full Service Brick and Mortar
    836228Ft Lauderdale Downtown Branch633 South Federal Highway, Fort Lauderdale, FL 33301Febuary 19, 1987Full Service Brick and Mortar
    9260460North Miami Beach Branch15801 Biscayne Boulevard, North Miami Beach, FL 33162June 02, 1992Full Service Brick and Mortar
    12433229Coral Ridge Banking Center Branch2800 East Oakland Park Boulevard, Fort Lauderdale, FL 33306November 01, 2004Full Service Brick and Mortar
    13480327Coral Springs Banking Center Branch2855 North University Drive #100, Coral Springs, FL 33065September 01, 2007Full Service Brick and Mortar
    15289077Sebastian Branch1020 U.S. Highway 1, Sebastian, FL 32958Febuary 01, 1993Full Service Brick and Mortar
    16289078Barefoot Bay Branch1020 Buttonwood Street, Barefoot Bay, FL 32976September 03, 1996Full Service Brick and Mortar
    20480400Citrus Bank Branch1717 Indian River Boulevard, Vero Beach, FL 32960August 15, 2008Full Service Brick and Mortar
    23362954Doral Branch8484 Nw 36 Street, Miami, FL 33166January 14, 2002Full Service Brick and Mortar
    24364389Coral Way Branch2159 Coral Way, Miami, FL 33145June 05, 2002Full Service Brick and Mortar
    2547121Brickell Branch1001 Brickell Bay Drive, Miami, FL 33131June 24, 1991Full Service Brick and Mortar
    29365181Old Harbor Bank Branch2605 Enterprise Road East, Suite 100, Clearwater, FL 33759July 14, 2003Full Service Brick and Mortar
    30428062Courier/Messenger Service Branch2605 Enterprise Road East, Suite 100, Clearwater, FL 33759March 04, 2004Limited Service Messenger
    31433606Main Street Dunedin Branch1352 Main Street, Dunedin, FL 34698December 27, 2004Full Service Brick and Mortar
    32441829Trinity Branch9040 Tryfon Boulevard, Suite A-102, Trinity, FL 34655July 05, 2005Full Service Brick and Mortar
    33446036Palm Harbor Branch32700 U.S. Highway 19 North, Palm Harbor, FL 34684December 05, 2005Full Service Brick and Mortar
    34463495Belleair Branch715 North Indian Rocks Road, Belleair Bluffs, FL 33770October 10, 2006Full Service Brick and Mortar
    35470761New Port Richey Branch5138 Deer Park Drive, Suite 105, New Port Richey, FL 34653January 09, 2008Full Service Brick and Mortar
    36476046Clearwater Branch2201 Drew Street, Clearwater, FL 33765May 27, 2008Full Service Brick and Mortar

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