Bank of the South in Pensacola, Florida (FL)

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Bank of the South
GeneralFDIC Certificate #: 19125
Status: Active
Federal Reserve ID: 83236
Bank Holding Company (Regulatory Top Holder): Five Flags Banks, Inc. (RSSDID: 1129515, Location: Pensacola, FL)
Date Established: May 20, 1964
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Domestic: 2, Interstate: No)
FDIC's unique #: 12957
Numeric code: 21
Regulator: FDIC
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: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Other Specialized Lending < 1 Billion
Date of Deposit Insurance: May 24, 1964
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 4410 W. Fairfield Drive, Pensacola, FL 32506
County: Escambia
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Pensacola
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Pensacola, FL (#6080)
Core Based Statistical Area (CBSA): Pensacola-Ferry Pass-Brent, FL (#37860)
CBSA Metro Statistical Area: Pensacola-Ferry Pass-Brent, FL (#37860)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $67.2 mil
Equity capital: $14.6 mil
Deposits held in domestic offices: $52.6 mil
Return on assets (ROA): 0.15% ($0.1 mil)
Quarterly return on assets: 0.25% ($0.2 mil)
Return on Equity (ROE): 0.68% ($0.1 mil)
Quarterly return on equity: 1.16% ($0.2 mil)
Net income: $0.1 mil
Quarterly Net income: $0.0 mil
Pretax return on assets: 0.23% ($154.5 mil)
Quarterly Pretax return on assets: 0.40% ($268.6 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ 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)
Total employees (full-time equivalent)20
Total assets$67,153
Cash and due from depository institutions$10,814
Interest-bearing balances$2,186
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$11,457
Loan loss allowance $136
Trading account assets$0
Bank premises and fixed assets$1,033
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$750
Life insurance assets$67,153
Total liabilities and capital$52,600
Total liabilities$52,577
Total deposits$36,844
Interest-bearing deposits$52,577
Deposits held in domestic offices$93
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $23
All other liabilities $14,553
Total equity capital$14,553
Total bank equity capital$14,553
Perpetual preferred stock$0
Common stock$250
Undivided profits $14,053
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $0
Earning assets $0
Long-term assets (5+ years) $459
Average Assets, year-to-date $56,742
Average Assets, quarterly $4,266
Volatile liabilities $66,042
Insider loans $66,572
FHLB advances $14,342
Loans and leases held for sale $64,534
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $14,553
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $3,403
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $1,660
Total interest expense $105
Net interest income $1,555
Provision for loan and lease losses $23
Total noninterest income $312
Fiduciary activities $0
Service charges on deposit accounts $149
Trading account gains & fees $0
Additional noninterest income $163
Total noninterest expense $1,689
Salaries and employee benefits $913
Premises and equipment expense $222
Additional noninterest expense $554
Pre-tax net operating income $155
Securities gains (losses) $0
Applicable income taxes $56
Income before extraordinary items $99
Extraordinary gains - net $0
Net income attributable to bank $99
Net charge-offs $0
Cash dividends $99
Sale, conversion, retirement of capital stock, net $1
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets2.95%
Cost of funding earning assets 0.19%
Net interest margin 2.76%
Noninterest income to earning assets 0.55%
Noninterest expense to earning assets 3.00%
Net operating income to assets 0.15%
Return on assets (ROA) 0.15%
Pretax return on assets 0.23%
Return on equity (ROE) 0.68%
Retained earnings to average equity (YTD only) 0.68%
Net charge-offs to loans 0.01%
Credit loss provision to net charge-offs 2300.00%
Efficiency ratio178.00%
Assets per employee$90,466
Cash dividends to net income (YTD only)3.36%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.17%
Noncurrent assets plus other real estate owned to assets 0.00%
Noncurrent loans to loans 0.00%
Net loans and leases to deposits0.00%
Net loans and leases to core deposits 21.79%
Equity capital to assets 22.49%
Core capital (leverage) ratio 21.67%
Tier 1 risk-based capital ratio 22.55%
Total risk-based capital ratio 101.47%
Average assets$102
Average earning assets$66,042
Average equity $14,482
Average loans $56,240
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2 Florida Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
012957Bank Of The South4410 W. Fairfield Drive, Pensacola, FL 32506May 20, 1964Full Service Brick and Mortar
1247365Island Branch136 Fort Pickens Road, Pensacola Beach, FL 32561March 20, 1980Full Service Brick and Mortar
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