First Bank of the Palm Beaches in West Palm Beach, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • First Bank of the Palm Beaches in West Palm Beach, Florida (FL)
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First Bank of the Palm Beaches - Overview

  • General
  • FDIC Certificate #: 58152
    Status: Active
    Federal Reserve ID: 3429282
    Date Established: March 06, 2006
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 440765
    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: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: March 06, 2006
    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: 415 5th Street, West Palm Beach, FL 33401
    County: Palm Beach
    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): West Palm Beach-Boca Raton, FL (#8960)
    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: West Palm Beach-Boca Raton-Boynton Beach, FL (#48424)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $83.5 mil
    Equity capital: $7.6 mil
    Deposits held in domestic offices: $67.7 mil
    Return on assets (ROA): 0.06% ($0.0 mil)
    Quarterly return on assets: 0.01% ($0.0 mil)
    Return on Equity (ROE): 0.57% ($0.0 mil)
    Quarterly return on equity: 0.10% ($0.0 mil)
    Net income: $0.0 mil
    Quarterly Net income: $0.0 mil
    Pretax return on assets: 0.06% ($50.1 mil)
    Quarterly Pretax return on assets: 0.01% ($8.3 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
  • 16Total employees (full-time equivalent)
  • $83,465Total assets
  • $23,615Cash and due from depository institutions
  • $2,135Interest-bearing balances
  • $2,291Securities
  • $184Federal funds sold & reverse repurchase agreements
  • $56,190Net loans & leases
  • $1,765Loan loss allowance
  • $0Trading account assets
  • $183Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $83,465Life insurance assets
  • $1,002All other assets
  • $75,823Total liabilities and capital
  • $67,721Total liabilities
  • $50,711Total deposits
  • $67,721Interest-bearing deposits
  • $96Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $8,000Trading liabilities
  • $0Other borrowed funds
  • $102Subordinated debt
  • $7,642All other liabilities
  • $7,642Total equity capital
  • $7,642Total bank equity capital
  • $0Perpetual preferred stock
  • $8,116Common stock
  • $8,435Surplus
  • $-8,909Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,537Income earned, not collected on loans
  • $0Earning assets
  • $231Long-term assets (5+ years)
  • $60,800Average Assets, year-to-date
  • $16,675Average Assets, quarterly
  • $70,988Volatile liabilities
  • $77,810Insider loans
  • $55,029FHLB advances
  • $78,681Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $7,625Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $4,040Restructured Loans and leases
  • $2,113Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $3,347Total interest income
  • $437Total interest expense
  • $2,910Net interest income
  • $160Provision for loan and lease losses
  • $96Total noninterest income
  • $0Fiduciary activities
  • $48Service charges on deposit accounts
  • $0Trading account gains & fees
  • $48Additional noninterest income
  • $2,842Total noninterest expense
  • $1,520Salaries and employee benefits
  • $315Premises and equipment expense
  • $1,007Additional noninterest expense
  • $4Pre-tax net operating income
  • $38Securities gains (losses)
  • $0Applicable income taxes
  • $42Income before extraordinary items
  • $0Extraordinary gains - net
  • $42Net income attributable to bank
  • $0Net charge-offs
  • $42Cash dividends
  • $761Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.56%Yield on earning assets
  • 0.73%Cost of funding earning assets
  • 4.83%Net interest margin
  • 0.16%Noninterest income to earning assets
  • 4.72%Noninterest expense to earning assets
  • 0.01%Net operating income to assets
  • 0.06%Return on assets (ROA)
  • 0.06%Pretax return on assets
  • 0.57%Return on equity (ROE)
  • 0.57%Retained earnings to average equity (YTD only)
  • 1.37%Net charge-offs to loans
  • 21.02%Credit loss provision to net charge-offs
  • 0.22%Efficiency ratio
  • 94,544Assets per employee
  • 5.22%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.05%Loss allowance to noncurrent loans
  • 49.90%Noncurrent assets plus other real estate owned to assets
  • 4.24%Noncurrent loans to loans
  • 6.10%Net loans and leases to deposits
  • 82.97%Net loans and leases to core deposits
  • 84.22%Equity capital to assets
  • 9.16%Core capital (leverage) ratio
  • 9.69%Tier 1 risk-based capital ratio
  • 13.86%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $70,988Average earning assets
  • $7,309Average equity
  • $60,199Average loans

List of branches

  • 2 Florida Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0440765First Bank Of The Palm Beaches415 5th Street, West Palm Beach, FL 33401March 06, 2006Full Service Brick and Mortar
    1470769Messenger Service415 5th Street, West Palm Beach, FL 33401March 06, 2006Limited Service Messenger

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