First Florida Bank in Destin, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches


First Florida Bank - Overview

  • General
  • FDIC Certificate #: 58370
    Status: Active
    Federal Reserve ID: 3525577
    Date Established: November 27, 2006
    WWW: http://www.firstflbank.com
    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 #: 447931
    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 27, 2006
    Last Structure Change Effective Date: April 19, 2010
    Last Structure Change Process Date: May 24, 2010
    Last Data Update: May 24, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 125 Main Street, Destin, FL 32541
    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 Changes
  • Name Change
    Change in Location
  • Financial Summary
  • Total assets: $174.0 mil
    Equity capital: $23.6 mil
    Deposits held in domestic offices: $149.9 mil
    Return on assets (ROA): 0.72% ($1.3 mil)
    Quarterly return on assets: 0.51% ($0.9 mil)
    Return on Equity (ROE): 5.54% ($1.3 mil)
    Quarterly return on equity: 3.76% ($0.9 mil)
    Net income: $1.2 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 0.72% ($1,252.5 mil)
    Quarterly Pretax return on assets: 0.51% ($887.2 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
  • 34Total employees (full-time equivalent)
  • $173,961Total assets
  • $12,804Cash and due from depository institutions
  • $11,178Interest-bearing balances
  • $58,768Securities
  • $2,900Federal funds sold & reverse repurchase agreements
  • $93,373Net loans & leases
  • $2,065Loan loss allowance
  • $0Trading account assets
  • $2,027Bank premises and fixed assets
  • $2,810Other real estate owned
  • $0Goodwill and other intangibles
  • $173,961Life insurance assets
  • $1,279All other assets
  • $150,341Total liabilities and capital
  • $149,882Total liabilities
  • $123,769Total deposits
  • $149,882Interest-bearing deposits
  • $85Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $459Subordinated debt
  • $23,620All other liabilities
  • $23,620Total equity capital
  • $23,620Total bank equity capital
  • $0Perpetual preferred stock
  • $6,347Common stock
  • $24,957Surplus
  • $-7,684Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $1,858Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $0Earning assets
  • $679Long-term assets (5+ years)
  • $166,219Average Assets, year-to-date
  • $62,069Average Assets, quarterly
  • $171,692Volatile liabilities
  • $175,156Insider loans
  • $104,143FHLB advances
  • $176,480Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $23,202Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $10,422Restructured Loans and leases
  • $822Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $7,282Total interest income
  • $1,526Total interest expense
  • $5,756Net interest income
  • $484Provision for loan and lease losses
  • $524Total noninterest income
  • $0Fiduciary activities
  • $196Service charges on deposit accounts
  • $0Trading account gains & fees
  • $328Additional noninterest income
  • $4,735Total noninterest expense
  • $2,421Salaries and employee benefits
  • $650Premises and equipment expense
  • $1,664Additional noninterest expense
  • $1,061Pre-tax net operating income
  • $176Securities gains (losses)
  • $0Applicable income taxes
  • $1,237Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,237Net income attributable to bank
  • $0Net charge-offs
  • $1,237Cash dividends
  • $788Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.51%Yield on earning assets
  • 0.94%Cost of funding earning assets
  • 3.56%Net interest margin
  • 0.32%Noninterest income to earning assets
  • 2.93%Noninterest expense to earning assets
  • 0.62%Net operating income to assets
  • 0.72%Return on assets (ROA)
  • 0.72%Pretax return on assets
  • 5.54%Return on equity (ROE)
  • 5.54%Retained earnings to average equity (YTD only)
  • 0.91%Net charge-offs to loans
  • 61.42%Credit loss provision to net charge-offs
  • 1.96%Efficiency ratio
  • 75,398Assets per employee
  • 5.12%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.16%Loss allowance to noncurrent loans
  • 0.00%Noncurrent assets plus other real estate owned to assets
  • 1.62%Noncurrent loans to loans
  • 0.00%Net loans and leases to deposits
  • 62.30%Net loans and leases to core deposits
  • 66.04%Equity capital to assets
  • 13.58%Core capital (leverage) ratio
  • 13.15%Tier 1 risk-based capital ratio
  • 22.28%Total risk-based capital ratio
  • Memoranda
  • $24Average assets
  • $171,692Average earning assets
  • $22,335Average equity
  • $161,482Average loans

List of branches

  • 2 Florida Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0447931First Florida Bank125 Main Street, Destin, FL 32541November 27, 2006Full Service Brick and Mortar
    1511142Destin East Branch9461 Emerald Coast Parkway, Destin, FL 32550August 09, 2010Full Service Brick and Mortar

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