Destin Bank in Destin, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 22, 2005

  • Destin Bank in Destin, Florida (FL)
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Destin Bank - Overview

  • General
  • FDIC Certificate #: 32321
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Whitney National Bank (#18538)
    Federal Reserve ID: 217479
    Date Established: May 15, 1985
    WWW: http://www.destinbank.com
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 10 (Interstate: No)
    OTS Docket #: 8140
    FDIC's unique #: 45155
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    SAIF Insured: Yes
    State Chartered: Yes
    Date of Deposit Insurance: May 15, 1985
    Last Structure Change Effective Date: April 22, 2005
    Last Structure Change Process Date: May 04, 2005
    Last Data Update: May 04, 2005
    Data Source Date: April 05, 2012
  • Location
  • Address: 2000 Ninety Eight Palms Boulevard, Destin, FL 32541
    County: Okaloosa
    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): Fort Walton Beach, FL (#2750)
    Core Based Statistical Area (CBSA): Crestview-Fort Walton Beach-Destin, FL (#18880)
    CBSA Metro Statistical Area: Crestview-Fort Walton Beach-Destin, FL (#18880)
  • Financial Summary
  • Total assets: $528.0 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, 2004)

  • Dollar figures in thousands
  • 116Total employees (full-time equivalent)
  • $508,684Total assets
  • $30,123Cash and due from depository institutions
  • $13,249Interest-bearing balances
  • $98,885Securities
  • $500Federal funds sold & reverse repurchase agreements
  • $366,609Net loans & leases
  • $3,598Loan loss allowance
  • $0Trading account assets
  • $4,593Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $7,974All other assets
  • $508,684Total liabilities and capital
  • $474,553Total liabilities
  • $395,575Total deposits
  • $332,872Interest-bearing deposits
  • $395,575Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $78,180Other borrowed funds
  • $0Subordinated debt
  • $798All other liabilities
  • $34,131Total equity capital
  • $34,131Total bank equity capital
  • $34,131Perpetual preferred stock
  • $0Common stock
  • $2,316Surplus
  • $14,384Undivided profits
  • Memoranda
  • $17,431Noncurrent loans and leases
  • $82,434Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $946Earning assets
  • $0Long-term assets (5+ years)
  • $2,219Average Assets, year-to-date
  • $479,243Average Assets, quarterly
  • $104,685Volatile liabilities
  • $446,050Insider loans
  • $489,480FHLB advances
  • $116,581Loans and leases held for sale
  • $7,227Unused loan commitments
  • $78,180Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $8,643Total risk weighted assets
  • $82,434Total unused commitments
  • $0Restructured Loans and leases
  • $3,598Derivatives

Income and Expense (December 31, 2004)

  • Dollar figures in thousands
  • $25,605Total interest income
  • $6,809Total interest expense
  • $18,796Net interest income
  • $912Provision for loan and lease losses
  • $3,653Total noninterest income
  • $0Fiduciary activities
  • $1,833Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,820Additional noninterest income
  • $12,527Total noninterest expense
  • $7,169Salaries and employee benefits
  • $2,853Premises and equipment expense
  • $2,505Additional noninterest expense
  • $9,010Pre-tax net operating income
  • $16Securities gains (losses)
  • $3,593Applicable income taxes
  • $5,433Income before extraordinary items
  • $0Extraordinary gains - net
  • $5,433Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $204Sale, conversion, retirement of capital stock, net
  • $1,420Net operating income

Performance and Condition Ratios (December 31, 2004)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.12%Yield on earning assets
  • 1.63%Cost of funding earning assets
  • 4.49%Net interest margin
  • 0.87%Noninterest income to earning assets
  • 2.99%Noninterest expense to earning assets
  • 1.22%Net operating income to assets
  • 1.22%Return on assets (ROA)
  • 2.02%Pretax return on assets
  • 17.15%Return on equity (ROE)
  • 12.67%Retained earnings to average equity (YTD only)
  • 0.07%Net charge-offs to loans
  • 447.06%Credit loss provision to net charge-offs
  • 48.64%Efficiency ratio
  • 55,802Assets per employee
  • 4.39%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 26.14%Loss allowance to loans
  • 0.97%Loss allowance to noncurrent loans
  • 380.34%Noncurrent assets plus other real estate owned to assets
  • 0.19%Noncurrent loans to loans
  • 0.26%Net loans and leases to deposits
  • 92.68%Net loans and leases to core deposits
  • 110.04%Equity capital to assets
  • 6.71%Core capital (leverage) ratio
  • 6.96%Tier 1 risk-based capital ratio
  • 9.45%Total risk-based capital ratio
  • Memoranda
  • $10Average assets
  • $446,050Average earning assets
  • $31,673Average equity
  • $418,422Average loans

Total Fiduciary and Related Assets (December 31, 2004)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $971Managed Assets
  • 1Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 10Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $971Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $971Fiduciary accounts held in foreign offices

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