First Federal Savings Bank of New Smyrna in New Smyrna Beach, Florida (FL)

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First Federal Savings Bank of New Smyrna
GeneralFDIC Certificate #: 29483
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Regions Bank of Florida (#18114)
Federal Reserve ID: 181776
Date Established: July 17, 1935
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
OTS Docket #: 3530
FDIC's unique #: 42317
Numeric code: 33
Regulator: OTS
Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
FDIC Insured: Yes
SAIF Insured: Yes
Insured Savings Institution: Yes
State Chartered: No
Date of Deposit Insurance: July 17, 1935
Last Structure Change Effective Date: September 19, 1997
Last Structure Change Process Date: October 07, 1997
Last Data Update: October 07, 1997
Data Source Date: April 05, 2012
LocationAddress: 900 N Dixie Freeway, New Smyrna Beach, FL 32168
County: Volusia
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Gainesville
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Daytona Beach, FL (#2020)
Combined Statistical Area (CSA): Orlando-Deltona-Daytona Beach, FL (#422)
Core Based Statistical Area (CBSA): Deltona-Daytona Beach-Ormond Beach, FL (#19660)
CBSA Metro Statistical Area: Deltona-Daytona Beach-Ormond Beach, FL (#19660)
Financial SummaryTotal assets: $320.0 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1996)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$56
Cash and due from depository institutions$312,825
Interest-bearing balances$11,381
Federal funds sold & reverse repurchase agreements$45,416
Net loans & leases$6,970
Loan loss allowance $236,433
Trading account assets$1,988
Bank premises and fixed assets$0
Other real estate owned$5,409
Goodwill and other intangibles$1,176
All other assets$0
Life insurance assets$6,040
Total liabilities and capital$0
Total liabilities$312,825
Total deposits$291,190
Interest-bearing deposits$286,901
Deposits held in domestic offices$283,177
% insured (estimated)286901.00%
Federal funds purchased & repurchase agreements $98
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $0
Total equity capital$4,289
Total bank equity capital$4,289
Perpetual preferred stock$21,635
Common stock$0
Undivided profits $9,248
Noncurrent loans and leases $11,237
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $3,536
Earning assets $1,355
Long-term assets (5+ years) $294,356
Average Assets, year-to-date $0
Average Assets, quarterly $323,535
Volatile liabilities $314,631
Insider loans $27,065
FHLB advances $346
Loans and leases held for sale $0
Unused loan commitments $0
Tier 1 (core) risk-based capital $2,562
Tier 2 risk-based capital $0
Total risk weighted assets $21,557
Total unused commitments $160,936
Restructured Loans and leases $0
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Income and Expense (December 31, 1996)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $24,630
Net interest income $13,545
Provision for loan and lease losses $11,085
Total noninterest income $0
Fiduciary activities $806
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $0
Total noninterest expense $806
Salaries and employee benefits $7,121
Premises and equipment expense $1,979
Additional noninterest expense $1,336
Pre-tax net operating income $3,806
Securities gains (losses) $4,770
Applicable income taxes $2,851
Income before extraordinary items $2,936
Extraordinary gains - net $4,685
Net income attributable to bank $0
Net charge-offs $4,685
Cash dividends $19
Sale, conversion, retirement of capital stock, net $6,440
Net operating income $0
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Performance and Condition Ratios (December 31, 1996)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 8.04%
Net interest margin 4.42%
Noninterest income to earning assets 3.62%
Noninterest expense to earning assets 0.26%
Net operating income to assets 2.33%
Return on assets (ROA) 0.88%
Pretax return on assets 1.45%
Return on equity (ROE) 2.36%
Retained earnings to average equity (YTD only) 19.75%
Net charge-offs to loans -7.40%
Credit loss provision to net charge-offs 0.01%
Efficiency ratio0.00%
Assets per employee$59,886
Cash dividends to net income (YTD only)5.59%
Condition Ratios (%)
Loss allowance to loans 137.46%
Loss allowance to noncurrent loans 0.83%
Noncurrent assets plus other real estate owned to assets 56.22%
Noncurrent loans to loans 1.51%
Net loans and leases to deposits1.48%
Net loans and leases to core deposits 82.41%
Equity capital to assets 90.99%
Core capital (leverage) ratio 6.92%
Tier 1 risk-based capital ratio 6.89%
Total risk-based capital ratio 13.39%
Average assets$15
Average earning assets$323,535
Average equity $23,725
Average loans $306,213
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