Barnett Bank, National Association in Jacksonville, Florida (FL)



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Barnett Bank, National Association
GeneralFDIC Certificate #: 3566
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Bank of America, National Association (#15802)
Federal Reserve ID: 182232
Date Established: May 07, 1877
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 589 (Interstate: No)
FDIC's unique #: 2258
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
Oakar Institutions: Yes
State Chartered: No
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: October 08, 1998
Last Structure Change Process Date: October 20, 1998
Last Data Update: October 20, 1998
Data Source Date: April 05, 2012
LocationAddress: 50 North Laura Street, Jacksonville, FL 32203
County: Duval
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): Jacksonville, FL (#3600)
Core Based Statistical Area (CBSA): Jacksonville, FL (#27260)
CBSA Metro Statistical Area: Jacksonville, FL (#27260)
Financial SummaryTotal assets: $42,432.0 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)
Total employees (full-time equivalent)18,807
Total assets$42,828,483
Cash and due from depository institutions$3,391,100
Interest-bearing balances$100
Securities$3,225,860
Federal funds sold & reverse repurchase agreements$63,025
Net loans & leases$30,548,393
Loan loss allowance $476,385
Trading account assets$29,726
Bank premises and fixed assets$930,856
Other real estate owned$26,913
Goodwill and other intangibles$850,821
All other assets$3,761,789
Life insurance assets$0
Total liabilities and capital$42,828,483
Total liabilities$38,877,992
Total deposits$34,778,612
Interest-bearing deposits$27,358,910
Deposits held in domestic offices$34,778,612
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $2,652,420
Trading liabilities$30,095
Other borrowed funds $664,845
Subordinated debt $66,600
All other liabilities $685,420
Total equity capital$3,950,491
Total bank equity capital$3,950,491
Perpetual preferred stock$3,950,491
Common stock$0
Surplus$26,000
Undivided profits $2,094,183
Memoranda
Noncurrent loans and leases $1,830,308
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $0
Earning assets $229,221
Long-term assets (5+ years) $0
Average Assets, year-to-date $223,819
Average Assets, quarterly $33,838,399
Volatile liabilities $4,456,872
Insider loans $41,323,817
FHLB advances $42,253,320
Loans and leases held for sale $5,332,569
Unused loan commitments $69,312
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $375,255
Total unused commitments $14,332,841
Restructured Loans and leases $0
Derivatives$33,225,835
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Income and Expense (December 31, 1997)
(Dollar figures in thousands)
Total interest income $2,982,057
Total interest expense $1,116,221
Net interest income $1,865,836
Provision for loan and lease losses $150,277
Total noninterest income $1,047,944
Fiduciary activities $83,924
Service charges on deposit accounts $272,286
Trading account gains & fees $3,562
Additional noninterest income $688,172
Total noninterest expense $1,979,964
Salaries and employee benefits $848,361
Premises and equipment expense $272,701
Additional noninterest expense $858,902
Pre-tax net operating income $783,539
Securities gains (losses) $1,744
Applicable income taxes $276,909
Income before extraordinary items $508,374
Extraordinary gains - net $0
Net income attributable to bank $508,374
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $150,850
Net operating income $550,000
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Performance and Condition Ratios (December 31, 1997)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets8.67%
Cost of funding earning assets 3.24%
Net interest margin 5.42%
Noninterest income to earning assets 3.05%
Noninterest expense to earning assets 5.75%
Net operating income to assets 1.23%
Return on assets (ROA) 1.23%
Pretax return on assets 1.90%
Return on equity (ROE) 13.68%
Retained earnings to average equity (YTD only) -1.12%
Net charge-offs to loans 0.50%
Credit loss provision to net charge-offs 99.62%
Efficiency ratio6.19%
Assets per employee$66,454
Cash dividends to net income (YTD only)2.28%
Condition Ratios (%)
Loss allowance to loans 108.19%
Loss allowance to noncurrent loans 1.54%
Noncurrent assets plus other real estate owned to assets 207.83%
Noncurrent loans to loans 0.60%
Net loans and leases to deposits0.74%
Net loans and leases to core deposits 87.84%
Equity capital to assets 95.07%
Core capital (leverage) ratio 9.22%
Tier 1 risk-based capital ratio 7.69%
Total risk-based capital ratio 9.42%
Memoranda
Average assets$11
Average earning assets$41,323,817
Average equity $3,716,894
Average loans $34,405,809
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