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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