First Bank in Clewiston, Florida (FL)



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First Bank
GeneralFDIC Certificate #: 9620
Status: Active
Federal Reserve ID: 131436
Bank Holding Company (Regulatory Top Holder): Pioneer Bankcorp, Inc. (RSSDID: 2061162, Location: Clewiston, FL)
Date Established: January 01, 1922
WWW: http://www.first1bank.net
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 6 (Domestic: 6, Interstate: No)
OTS Docket #: 13673
FDIC's unique #: 6147
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Agricultural lending institution: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Agricultural Specialization
Date of Deposit Insurance: January 01, 1934
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
LocationAddress: 300 East Sugarland Highway, Clewiston, FL 33440
County: Hendry
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): Clewiston, FL (#17500)
CBSA Micro Statistical Area: Yes
History of ChangesName Change
Merge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $229.9 mil
Equity capital: $20.5 mil
Deposits held in domestic offices: $203.6 mil
Return on assets (ROA): -0.45% (-$1.0 mil)
Quarterly return on assets: 0.58% ($1.3 mil)
Return on Equity (ROE): -5.47% (-$1.1 mil)
Quarterly return on equity: 6.72% ($1.4 mil)
Net income: -$1.1 mil
Quarterly Net income: $0.3 mil
Pretax return on assets: -0.88% (-$2,023.1 mil)
Quarterly Pretax return on assets: 0.50% ($1,149.5 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)
Total employees (full-time equivalent)79
Total assets$229,895
Cash and due from depository institutions$12,151
Interest-bearing balances$2,213
Securities$13,866
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$174,905
Loan loss allowance $4,145
Trading account assets$0
Bank premises and fixed assets$11,400
Other real estate owned$6,135
Goodwill and other intangibles$0
All other assets$11,438
Life insurance assets$229,894
Total liabilities and capital$209,375
Total liabilities$203,609
Total deposits$149,316
Interest-bearing deposits$203,609
Deposits held in domestic offices$85
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$5,000
Other borrowed funds $0
Subordinated debt $766
All other liabilities $20,519
Total equity capital$20,519
Total bank equity capital$20,519
Perpetual preferred stock$0
Common stock$1,516
Surplus$7,583
Undivided profits $11,420
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $6,727
Earning assets $301
Long-term assets (5+ years) $1,041
Average Assets, year-to-date $190,984
Average Assets, quarterly $80,422
Volatile liabilities $242,219
Insider loans $234,895
FHLB advances $185,915
Loans and leases held for sale $227,826
Unused loan commitments $4,489
Tier 1 (core) risk-based capital $4,489
Tier 2 risk-based capital $18,247
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $25,567
Derivatives$4,350
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $10,649
Total interest expense $2,086
Net interest income $8,563
Provision for loan and lease losses $3,446
Total noninterest income $1,947
Fiduciary activities $0
Service charges on deposit accounts $1,015
Trading account gains & fees $0
Additional noninterest income $932
Total noninterest expense $9,194
Salaries and employee benefits $4,490
Premises and equipment expense $1,172
Additional noninterest expense $3,532
Pre-tax net operating income -$2,130
Securities gains (losses) $1
Applicable income taxes -$1,051
Income before extraordinary items -$1,078
Extraordinary gains - net $0
Net income attributable to bank -$1,078
Net charge-offs $0
Cash dividends -$1,078
Sale, conversion, retirement of capital stock, net $3,015
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.25%
Cost of funding earning assets 1.03%
Net interest margin 4.22%
Noninterest income to earning assets 0.96%
Noninterest expense to earning assets 4.53%
Net operating income to assets -0.45%
Return on assets (ROA) -0.45%
Pretax return on assets -0.88%
Return on equity (ROE) -5.47%
Retained earnings to average equity (YTD only) -5.47%
Net charge-offs to loans 1.68%
Credit loss provision to net charge-offs 114.30%
Efficiency ratio0.44%
Assets per employee$87,479
Cash dividends to net income (YTD only)2.91%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.31%
Noncurrent assets plus other real estate owned to assets 61.62%
Noncurrent loans to loans 5.59%
Net loans and leases to deposits3.76%
Net loans and leases to core deposits 85.90%
Equity capital to assets 95.24%
Core capital (leverage) ratio 8.93%
Tier 1 risk-based capital ratio 8.01%
Total risk-based capital ratio 9.81%
Memoranda
Average assets$11
Average earning assets$242,219
Average equity $19,723
Average loans $203,020
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6 Florida Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
06147First Bank300 East Sugarland Highway, Clewiston, FL 33440January 01, 1922Full Service Brick and Mortar
1220704Drive-In FacilityDeane Duff Avenue And Sagamore Street, Clewiston, FL 33440Febuary 07, 1974Limited Service Facility
2220705La Belle Branch301 Hwy 80 W, La Belle, FL 33935June 12, 1981Full Service Brick and Mortar
3220706Berner Road Branch101 South Berner Road, Clewiston, FL 33440July 15, 1996Full Service Brick and Mortar
4430428Ft. Myers Branch11741 Palm Beach Blvd, Suite 100, Fort Myers, FL 33905June 14, 2004Full Service Brick and Mortar
5493520Moore Haven Branch1212 N Us Hwy 27 Sw, Moore Haven, FL 33471July 01, 2008Full Service Brick and Mortar
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