First City Bank of Florida in Fort Walton Beach, Florida (FL)

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First City Bank of Florida
GeneralFDIC Certificate #: 16748
Status: Active
Federal Reserve ID: 695134
Bank Holding Company (Regulatory Top Holder): Florida First City Banks, Inc. (RSSDID: 1246382, Location: Fort Walton Beach, FL)
Date Established: November 17, 1948
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Domestic: 4, Interstate: No)
OTS Docket #: 11266
FDIC's unique #: 10863
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: November 17, 1948
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: 135 Perry Avenue, S.E., Fort Walton Beach, FL 32548
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)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $261.9 mil
Equity capital: $6.5 mil
Deposits held in domestic offices: $244.8 mil
Return on assets (ROA): -0.69% (-$1.8 mil)
Quarterly return on assets: -0.18% (-$0.5 mil)
Return on Equity (ROE): -26.17% (-$1.8 mil)
Quarterly return on equity: -7.33% (-$0.5 mil)
Net income: -$1.9 mil
Quarterly Net income: -$0.1 mil
Pretax return on assets: -0.69% (-$1,807.3 mil)
Quarterly Pretax return on assets: -0.18% (-$471.5 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)59
Total assets$261,931
Cash and due from depository institutions$13,854
Interest-bearing balances$11,731
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$166,389
Loan loss allowance $4,652
Trading account assets$0
Bank premises and fixed assets$13,547
Other real estate owned$27,076
Goodwill and other intangibles$0
All other assets$7,627
Life insurance assets$261,931
Total liabilities and capital$255,428
Total liabilities$244,794
Total deposits$221,025
Interest-bearing deposits$244,794
Deposits held in domestic offices$95
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$10,000
Other borrowed funds $0
Subordinated debt $634
All other liabilities $6,503
Total equity capital$6,503
Total bank equity capital$6,503
Perpetual preferred stock$0
Common stock$414
Undivided profits $-3,391
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 $12,376
Earning assets $0
Long-term assets (5+ years) $1,025
Average Assets, year-to-date $211,558
Average Assets, quarterly $19,202
Volatile liabilities $275,755
Insider loans $266,110
FHLB advances $189,349
Loans and leases held for sale $266,125
Unused loan commitments $4,902
Tier 1 (core) risk-based capital $4,902
Tier 2 risk-based capital $6,571
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $10,740
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $9,407
Total interest expense $2,713
Net interest income $6,694
Provision for loan and lease losses $2,000
Total noninterest income $1,536
Fiduciary activities $0
Service charges on deposit accounts $627
Trading account gains & fees $0
Additional noninterest income $909
Total noninterest expense $8,416
Salaries and employee benefits $3,595
Premises and equipment expense $1,524
Additional noninterest expense $3,297
Pre-tax net operating income -$2,186
Securities gains (losses) $278
Applicable income taxes $0
Income before extraordinary items -$1,908
Extraordinary gains - net $0
Net income attributable to bank -$1,908
Net charge-offs $0
Cash dividends -$1,908
Sale, conversion, retirement of capital stock, net $2,575
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 assets4.17%
Cost of funding earning assets 1.20%
Net interest margin 2.97%
Noninterest income to earning assets 0.68%
Noninterest expense to earning assets 3.73%
Net operating income to assets -0.79%
Return on assets (ROA) -0.69%
Pretax return on assets -0.69%
Return on equity (ROE) -26.17%
Retained earnings to average equity (YTD only) -26.17%
Net charge-offs to loans 1.41%
Credit loss provision to net charge-offs 77.67%
Efficiency ratio-0.07%
Assets per employee$102,260
Cash dividends to net income (YTD only)4.44%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.72%
Noncurrent assets plus other real estate owned to assets 37.59%
Noncurrent loans to loans 15.06%
Net loans and leases to deposits7.24%
Net loans and leases to core deposits 67.97%
Equity capital to assets 69.36%
Core capital (leverage) ratio 2.48%
Tier 1 risk-based capital ratio 2.47%
Total risk-based capital ratio 3.47%
Average assets$5
Average earning assets$275,755
Average equity $7,292
Average loans $225,529
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4 Florida Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
010863First City Bank Of Florida135 Perry Avenue, S.E., Fort Walton Beach, FL 32548November 17, 1948Full Service Brick and Mortar
2238692Sun Plaza Branch217-F Mary Esther Cutoff, Fort Walton Beach, FL 32548June 26, 1981Full Service Brick and Mortar
3238693Racetrack Road Branch24 Racetrack Road, N.E., Fort Walton Beach, FL 32548June 27, 1985Full Service Brick and Mortar
5238695Destin Branch363 East U.S. Highway 98, Destin, FL 32541November 15, 1989Full Service Brick and Mortar
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