Commercial Bank of Florida in Miami, Florida (FL)



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Commercial Bank of Florida
GeneralFDIC Certificate #: 22813
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Colonial Bank (#9609)
Federal Reserve ID: 889036
Date Established: Febuary 21, 1979
WWW: http://www.commercialbankfl.com
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 14 (Interstate: No)
OTS Docket #: 15502
FDIC's unique #: 15932
Numeric code: 13
Regulator: FED
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: Febuary 21, 1979
Last Structure Change Effective Date: June 08, 2007
Last Structure Change Process Date: June 18, 2007
Last Data Update: June 18, 2007
Data Source Date: April 05, 2012
LocationAddress: 1550 S.W. 57th Avenue, Miami, FL 33144
County: Miami-Dade
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: South Florida
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Miami, FL (#5000)
Consolidated Metropolitan Statistical Area (CMSA): Miami-Fort Lauderdale, FL (#56)
Core Based Statistical Area (CBSA): Miami-Fort Lauderdale-Pompano Beach, FL (#33100)
CBSA Metro Statistical Area: Miami-Fort Lauderdale-Pompano Beach, FL (#33100)
Core Based Statistical Division: Miami-Miami Beach-Kendall, FL (#33124)
Financial SummaryTotal assets: $1,031.7 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, 2006)
(Dollar figures in thousands)
Total employees (full-time equivalent)190
Total assets$1,030,993
Cash and due from depository institutions$21,996
Interest-bearing balances$193
Securities$374,114
Federal funds sold & reverse repurchase agreements$2,853
Net loans & leases$604,896
Loan loss allowance $6,001
Trading account assets$0
Bank premises and fixed assets$11,952
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$15,182
Life insurance assets$0
Total liabilities and capital$1,030,993
Total liabilities$954,723
Total deposits$847,804
Interest-bearing deposits$694,785
Deposits held in domestic offices$847,804
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $103,478
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $3,441
Total equity capital$76,270
Total bank equity capital$76,270
Perpetual preferred stock$76,270
Common stock$0
Surplus$5,824
Undivided profits $15,761
Memoranda
Noncurrent loans and leases $54,685
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $70,820
Income earned, not collected on loans $0
Earning assets $0
Long-term assets (5+ years) $0
Average Assets, year-to-date $7,533
Average Assets, quarterly $982,056
Volatile liabilities $277,876
Insider loans $1,042,303
FHLB advances $1,044,580
Loans and leases held for sale $420,756
Unused loan commitments $3,832
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $70,820
Restructured Loans and leases $0
Derivatives$6,077
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Income and Expense (December 31, 2006)
(Dollar figures in thousands)
Total interest income $61,869
Total interest expense $27,326
Net interest income $34,543
Provision for loan and lease losses $625
Total noninterest income $2,501
Fiduciary activities $0
Service charges on deposit accounts $1,840
Trading account gains & fees $0
Additional noninterest income $661
Total noninterest expense $18,367
Salaries and employee benefits $11,996
Premises and equipment expense $2,525
Additional noninterest expense $3,846
Pre-tax net operating income $18,052
Securities gains (losses) $91
Applicable income taxes $5,958
Income before extraordinary items $12,185
Extraordinary gains - net $0
Net income attributable to bank $12,185
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $25
Net operating income $5,250
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Performance and Condition Ratios (December 31, 2006)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.27%
Cost of funding earning assets 2.77%
Net interest margin 3.50%
Noninterest income to earning assets 0.25%
Noninterest expense to earning assets 1.86%
Net operating income to assets 1.16%
Return on assets (ROA) 1.17%
Pretax return on assets 1.74%
Return on equity (ROE) 16.88%
Retained earnings to average equity (YTD only) 9.61%
Net charge-offs to loans 0.00%
Credit loss provision to net charge-offs 2500.00%
Efficiency ratio747.08%
Assets per employee$49,582
Cash dividends to net income (YTD only)5.43%
Condition Ratios (%)
Loss allowance to loans 43.09%
Loss allowance to noncurrent loans 0.98%
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 71.35%
Equity capital to assets 114.02%
Core capital (leverage) ratio 7.40%
Tier 1 risk-based capital ratio 7.43%
Total risk-based capital ratio 11.21%
Memoranda
Average assets$12
Average earning assets$1,042,303
Average equity $72,187
Average loans $986,259
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