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GeneralFDIC Certificate #: 20830
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Synovus Bank (#873)
Federal Reserve ID: 391838
Date Established: October 11, 1972
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 26 (Interstate: No)
FDIC's unique #: 14390
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: Yes
Date of Deposit Insurance: October 11, 1972
Last Structure Change Effective Date: June 01, 2010
Last Structure Change Process Date: June 14, 2010
Last Data Update: June 14, 2010
Data Source Date: April 05, 2012
LocationAddress: 125 West Romana Street, Suite 400, Pensacola, FL 32502
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)
Financial SummaryTotal assets: $1,733.8 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)212
Total assets$1,777,337
Cash and due from depository institutions$19,816
Interest-bearing balances$679
Federal funds sold & reverse repurchase agreements$76,825
Net loans & leases$1,416,605
Loan loss allowance $38,934
Trading account assets$0
Bank premises and fixed assets$34,188
Other real estate owned$14,103
Goodwill and other intangibles$66
All other assets$95,853
Life insurance assets$1,219
Total liabilities and capital$1,777,337
Total liabilities$1,631,898
Total deposits$1,511,537
Interest-bearing deposits$1,350,221
Deposits held in domestic offices$1,511,537
% insured (estimated)76.42%
Federal funds purchased & repurchase agreements $7,740
Trading liabilities$0
Other borrowed funds $101,345
Subordinated debt $0
All other liabilities $11,276
Total equity capital$145,439
Total bank equity capital$145,439
Perpetual preferred stock$145,345
Common stock$0
Undivided profits $135,392
Noncurrent loans and leases $6,743
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $158,671
Income earned, not collected on loans $94
Earning assets $71,661
Long-term assets (5+ years) $0
Average Assets, year-to-date $6,551
Average Assets, quarterly $1,613,990
Volatile liabilities $296,608
Insider loans $1,807,817
FHLB advances $1,773,789
Loans and leases held for sale $324,387
Unused loan commitments $58,343
Tier 1 (core) risk-based capital $100,000
Tier 2 risk-based capital $0
Total risk weighted assets $360
Total unused commitments $158,671
Restructured Loans and leases $368
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Income and Expense (December 31, 2009)
(Dollar figures in thousands)
Total interest income $88,082
Total interest expense $24,652
Net interest income $63,430
Provision for loan and lease losses $99,123
Total noninterest income -$2,062
Fiduciary activities $0
Service charges on deposit accounts $6,000
Trading account gains & fees $0
Additional noninterest income -$8,062
Total noninterest expense $39,764
Salaries and employee benefits $13,708
Premises and equipment expense $4,087
Additional noninterest expense $21,969
Pre-tax net operating income -$77,519
Securities gains (losses) $1,114
Applicable income taxes -$10,886
Income before extraordinary items -$65,519
Extraordinary gains - net $0
Net income attributable to bank -$65,519
Net charge-offs $0
Cash dividends -$65,519
Sale, conversion, retirement of capital stock, net $90,912
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 assets5.31%
Cost of funding earning assets 1.49%
Net interest margin 3.82%
Noninterest income to earning assets -0.12%
Noninterest expense to earning assets 2.40%
Net operating income to assets -3.68%
Return on assets (ROA) -3.62%
Pretax return on assets -4.23%
Return on equity (ROE) -39.63%
Retained earnings to average equity (YTD only) -39.63%
Net charge-offs to loans 5.95%
Credit loss provision to net charge-offs 109.03%
Efficiency ratio0.24%
Assets per employee$57,292
Cash dividends to net income (YTD only)8.38%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.67%
Noncurrent assets plus other real estate owned to assets 54.33%
Noncurrent loans to loans 4.83%
Net loans and leases to deposits4.92%
Net loans and leases to core deposits 93.72%
Equity capital to assets 111.55%
Core capital (leverage) ratio 8.18%
Tier 1 risk-based capital ratio 7.94%
Total risk-based capital ratio 9.14%
Average assets$10
Average earning assets$1,807,817
Average equity $165,328
Average loans $1,659,635
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