Overview, Financial Summary, Detailed Financial Reports, Branches


  • General
  • FDIC Certificate #: 17509
    Status: Active
    Federal Reserve ID: 191935
    Bank Holding Company (Regulatory Top Holder): First State Bank Of The Florida Keys Holding Company (RSSDID: 3897519, Location: Key West, FL)
    Date Established: October 29, 1955
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 12 (Domestic: 12, Interstate: No)
    OTS Docket #: 13362
    FDIC's unique #: 11489
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: Yes
    Asset Concentration Hierarchy: All Other Specialization < 1 Billion
    Date of Deposit Insurance: October 29, 1955
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 1201 Simonton Street, Key West, FL 33040
    County: Monroe
    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
    Core Based Statistical Area (CBSA): Key West, FL (#28580)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $859.9 mil
    Equity capital: $68.9 mil
    Deposits held in domestic offices: $576.3 mil
    Return on assets (ROA): -0.58% (-$5.0 mil)
    Quarterly return on assets: -0.49% (-$4.2 mil)
    Return on Equity (ROE): -7.28% (-$5.0 mil)
    Quarterly return on equity: -5.97% (-$4.1 mil)
    Net income: -$4.6 mil
    Quarterly Net income: -$1.0 mil
    Pretax return on assets: -0.58% (-$4,987.7 mil)
    Quarterly Pretax return on assets: -0.49% (-$4,213.7 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, 2011)

  • Dollar figures in thousands
  • 177Total employees (full-time equivalent)
  • $859,944Total assets
  • $76,132Cash and due from depository institutions
  • $68,095Interest-bearing balances
  • $310,257Securities
  • $10,696Federal funds sold & reverse repurchase agreements
  • $424,486Net loans & leases
  • $13,804Loan loss allowance
  • $0Trading account assets
  • $13,696Bank premises and fixed assets
  • $10,061Other real estate owned
  • $0Goodwill and other intangibles
  • $859,944Life insurance assets
  • $14,616All other assets
  • $791,050Total liabilities and capital
  • $576,274Total liabilities
  • $446,944Total deposits
  • $576,274Interest-bearing deposits
  • $75Deposits held in domestic offices
  • 50957.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $150,000Trading liabilities
  • $0Other borrowed funds
  • $13,819Subordinated debt
  • $68,894All other liabilities
  • $68,894Total equity capital
  • $68,894Total bank equity capital
  • $0Perpetual preferred stock
  • $15Common stock
  • $36,173Surplus
  • $32,706Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $326Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $24,440Income earned, not collected on loans
  • $0Earning assets
  • $3,054Long-term assets (5+ years)
  • $813,534Average Assets, year-to-date
  • $282,277Average Assets, quarterly
  • $789,107Volatile liabilities
  • $823,235Insider loans
  • $421,929FHLB advances
  • $809,986Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $67,413Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $37,198Restructured Loans and leases
  • $13,033Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $30,510Total interest income
  • $6,525Total interest expense
  • $23,985Net interest income
  • $10,354Provision for loan and lease losses
  • $2,295Total noninterest income
  • $0Fiduciary activities
  • $1,530Service charges on deposit accounts
  • $0Trading account gains & fees
  • $765Additional noninterest income
  • $21,625Total noninterest expense
  • $10,849Salaries and employee benefits
  • $3,298Premises and equipment expense
  • $7,478Additional noninterest expense
  • -$5,699Pre-tax net operating income
  • $1,136Securities gains (losses)
  • $0Applicable income taxes
  • -$4,563Income before extraordinary items
  • $0Extraordinary gains - net
  • -$4,563Net income attributable to bank
  • $0Net charge-offs
  • -$4,563Cash dividends
  • $10,628Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.11%Yield on earning assets
  • 0.88%Cost of funding earning assets
  • 3.23%Net interest margin
  • 0.31%Noninterest income to earning assets
  • 2.92%Noninterest expense to earning assets
  • -0.72%Net operating income to assets
  • -0.58%Return on assets (ROA)
  • -0.58%Pretax return on assets
  • -7.28%Return on equity (ROE)
  • -7.28%Retained earnings to average equity (YTD only)
  • 2.33%Net charge-offs to loans
  • 97.42%Credit loss provision to net charge-offs
  • 0.44%Efficiency ratio
  • 82,287Assets per employee
  • 4.86%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.15%Loss allowance to noncurrent loans
  • 56.48%Noncurrent assets plus other real estate owned to assets
  • 4.01%Noncurrent loans to loans
  • 5.58%Net loans and leases to deposits
  • 73.66%Net loans and leases to core deposits
  • 76.76%Equity capital to assets
  • 8.01%Core capital (leverage) ratio
  • 8.32%Tier 1 risk-based capital ratio
  • 15.98%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $789,107Average earning assets
  • $62,652Average equity
  • $741,439Average loans

List of branches

  • 12 Florida Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    011489First State Bank Of The Florida Keys1201 Simonton Street, Key West, FL 33040October 29, 1955Full Service Brick and Mortar
    2241905Key Largo BranchMile Marker 97.7, U.S. Highway 1, Key Largo, FL 33037November 02, 1977Full Service Brick and Mortar
    3241906Boulevard Branch3406 North Roosevelt Boulevard, Key West, FL 33040Febuary 04, 1985Full Service Brick and Mortar
    4241907Winn Dixie Branch2778 North Roosevelt Boulevard, Key West, FL 33040March 21, 1991Full Service Brick and Mortar
    5241908Summerland BranchU.S. Highway 1, Mile Marker 24.9, Summerland Key, FL 33042July 31, 1995Full Service Brick and Mortar
    8241911Tradewinds Branch101433 Overseas Highway, Key Largo, FL 33037October 01, 1997Full Service Brick and Mortar
    9358849Whitehead Branch444 Whitehead Street, Key West, FL 33040August 28, 2000Full Service Brick and Mortar
    10360597Marathon Branch6900 Overseas Highway, Marathon, FL 33050July 24, 2000Full Service Brick and Mortar
    11363089Stock Island Branch5450 Macdonald Avenue, Stock Island, FL 33040Febuary 11, 2002Full Service Brick and Mortar
    12363340Islamorada Branch81621 Old State Highway, Islamorada, FL 33036Febuary 25, 2002Full Service Brick and Mortar
    13478450Miramar Branch3740 Exectuive Way, Miramar, FL 33025March 19, 2007Limited Service Administrative
    14492696Big Pine Branch30515 Overseas Hwy, Big Pine Key, FL 33043December 16, 2008Full Service Brick and Mortar

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