Bank at Ormond-By-The-Sea in Volusia County, Florida (FL)



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Bank at Ormond-By-The-Sea
GeneralFDIC Certificate #: 21269
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Regions Bank (#12368)
Federal Reserve ID: 395630
Date Established: October 16, 1973
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 3 (Interstate: No)
OTS Docket #: 9412
FDIC's unique #: 14713
Numeric code: 13
Regulator: FED
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: October 16, 1973
Last Structure Change Effective Date: October 13, 2000
Last Structure Change Process Date: November 15, 2000
Last Data Update: November 15, 2000
Data Source Date: April 05, 2012
LocationAddress: 1400 Ocean Shore Boulevard, Volusia County, FL 32174
County: Volusia
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Gainesville
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Daytona Beach, FL (#2020)
Combined Statistical Area (CSA): Orlando-Deltona-Daytona Beach, FL (#422)
Core Based Statistical Area (CBSA): Deltona-Daytona Beach-Ormond Beach, FL (#19660)
CBSA Metro Statistical Area: Deltona-Daytona Beach-Ormond Beach, FL (#19660)
Financial SummaryTotal assets: $105.8 mil

1992 - 1999 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, 1999)
(Dollar figures in thousands)
Total employees (full-time equivalent)47
Total assets$104,139
Cash and due from depository institutions$5,729
Interest-bearing balances$83
Securities$42,578
Federal funds sold & reverse repurchase agreements$1,450
Net loans & leases$49,235
Loan loss allowance $413
Trading account assets$0
Bank premises and fixed assets$1,769
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$3,378
Life insurance assets$0
Total liabilities and capital$104,139
Total liabilities$97,328
Total deposits$94,960
Interest-bearing deposits$85,625
Deposits held in domestic offices$94,960
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $2,368
Total equity capital$6,811
Total bank equity capital$6,811
Perpetual preferred stock$6,811
Common stock$0
Surplus$550
Undivided profits $1,445
Memoranda
Noncurrent loans and leases $4,816
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $3,365
Income earned, not collected on loans $0
Earning assets $1
Long-term assets (5+ years) $0
Average Assets, year-to-date $218
Average Assets, quarterly $93,346
Volatile liabilities $7,521
Insider loans $106,062
FHLB advances $104,873
Loans and leases held for sale $7,755
Unused loan commitments $2,894
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $3,365
Restructured Loans and leases $0
Derivatives$413
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Income and Expense (December 31, 1999)
(Dollar figures in thousands)
Total interest income $6,787
Total interest expense $3,145
Net interest income $3,642
Provision for loan and lease losses $36
Total noninterest income $652
Fiduciary activities $0
Service charges on deposit accounts $320
Trading account gains & fees $0
Additional noninterest income $332
Total noninterest expense $3,626
Salaries and employee benefits $2,018
Premises and equipment expense $607
Additional noninterest expense $1,001
Pre-tax net operating income $632
Securities gains (losses) $15
Applicable income taxes $246
Income before extraordinary items $401
Extraordinary gains - net $0
Net income attributable to bank $401
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $27
Net operating income $308
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Performance and Condition Ratios (December 31, 1999)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.96%
Cost of funding earning assets 3.22%
Net interest margin 3.73%
Noninterest income to earning assets 0.67%
Noninterest expense to earning assets 3.72%
Net operating income to assets 0.37%
Return on assets (ROA) 0.38%
Pretax return on assets 0.61%
Return on equity (ROE) 5.80%
Retained earnings to average equity (YTD only) 1.34%
Net charge-offs to loans 0.06%
Credit loss provision to net charge-offs 133.33%
Efficiency ratio24.74%
Assets per employee$84,443
Cash dividends to net income (YTD only)2.22%
Condition Ratios (%)
Loss allowance to loans 76.81%
Loss allowance to noncurrent loans 0.83%
Noncurrent assets plus other real estate owned to assets 41300.00%
Noncurrent loans to loans 0.00%
Net loans and leases to deposits0.00%
Net loans and leases to core deposits 51.85%
Equity capital to assets 56.46%
Core capital (leverage) ratio 6.54%
Tier 1 risk-based capital ratio 6.67%
Total risk-based capital ratio 14.35%
Memoranda
Average assets$15
Average earning assets$106,062
Average equity $6,918
Average loans $97,568
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