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GeneralFDIC Certificate #: 32699
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: CenterState Bank of Florida, National Association (#33555)
Federal Reserve ID: 1407512
Date Established: November 03, 1989
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 12 (Interstate: No)
FDIC's unique #: 45533
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: No
Date of Deposit Insurance: November 03, 1989
Last Structure Change Effective Date: December 10, 2010
Last Structure Change Process Date: January 03, 2011
Last Data Update: January 03, 2011
Data Source Date: April 05, 2012
LocationAddress: 6930 Gall Boulevard, Zephyrhills, FL 33541
County: Pasco
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Tampa
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Tampa-St. Petersburg-Clearwater, FL (#8280)
Core Based Statistical Area (CBSA): Tampa-St. Petersburg-Clearwater, FL (#45300)
CBSA Metro Statistical Area: Tampa-St. Petersburg-Clearwater, FL (#45300)
Financial SummaryTotal assets: $372.3 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, 2009)
(Dollar figures in thousands)
Total employees (full-time equivalent)97
Total assets$362,994
Cash and due from depository institutions$25,639
Interest-bearing balances$20,428
Federal funds sold & reverse repurchase agreements$11,502
Net loans & leases$221,023
Loan loss allowance $6,399
Trading account assets$0
Bank premises and fixed assets$20,250
Other real estate owned$4,996
Goodwill and other intangibles$5,415
All other assets$15,802
Life insurance assets$4,349
Total liabilities and capital$362,994
Total liabilities$322,392
Total deposits$317,700
Interest-bearing deposits$291,010
Deposits held in domestic offices$317,700
% insured (estimated)83.11%
Federal funds purchased & repurchase agreements $609
Trading liabilities$0
Other borrowed funds $3,000
Subordinated debt $0
All other liabilities $1,083
Total equity capital$40,602
Total bank equity capital$40,602
Perpetual preferred stock$40,602
Common stock$0
Undivided profits $27,910
Noncurrent loans and leases $10,256
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $23,587
Income earned, not collected on loans $0
Earning assets $10,016
Long-term assets (5+ years) $0
Average Assets, year-to-date $1,257
Average Assets, quarterly $311,320
Volatile liabilities $68,240
Insider loans $360,516
FHLB advances $356,721
Loans and leases held for sale $94,796
Unused loan commitments $7,904
Tier 1 (core) risk-based capital $3,000
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $23,587
Restructured Loans and leases $4,858
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Income and Expense (December 31, 2009)
(Dollar figures in thousands)
Total interest income $17,259
Total interest expense $6,488
Net interest income $10,771
Provision for loan and lease losses $9,929
Total noninterest income $1,555
Fiduciary activities $0
Service charges on deposit accounts $907
Trading account gains & fees $0
Additional noninterest income $648
Total noninterest expense $15,110
Salaries and employee benefits $5,044
Premises and equipment expense $2,169
Additional noninterest expense $7,897
Pre-tax net operating income -$12,713
Securities gains (losses) $195
Applicable income taxes -$4,830
Income before extraordinary items -$7,688
Extraordinary gains - net $0
Net income attributable to bank -$7,688
Net charge-offs $0
Cash dividends -$7,688
Sale, conversion, retirement of capital stock, net $7,693
Net operating income $0
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Performance and Condition Ratios (December 31, 2009)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.59%
Cost of funding earning assets 2.10%
Net interest margin 3.49%
Noninterest income to earning assets 0.50%
Noninterest expense to earning assets 4.89%
Net operating income to assets -2.17%
Return on assets (ROA) -2.13%
Pretax return on assets -3.47%
Return on equity (ROE) -17.90%
Retained earnings to average equity (YTD only) -17.90%
Net charge-offs to loans 3.13%
Credit loss provision to net charge-offs 129.07%
Efficiency ratio-0.36%
Assets per employee$109,776
Cash dividends to net income (YTD only)3.74%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.81%
Noncurrent assets plus other real estate owned to assets 63.89%
Noncurrent loans to loans 4.14%
Net loans and leases to deposits4.40%
Net loans and leases to core deposits 69.57%
Equity capital to assets 97.58%
Core capital (leverage) ratio 11.19%
Tier 1 risk-based capital ratio 9.76%
Total risk-based capital ratio 12.69%
Average assets$14
Average earning assets$360,516
Average equity $42,938
Average loans $308,914
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