First National Bank of Nassau County in Fernandina Beach, Florida (FL)



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First National Bank of Nassau County
GeneralFDIC Certificate #: 35049
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: CBC NATIONAL BANK (#35309)
Federal Reserve ID: 2771797
Date Established: July 26, 1999
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 2 (Interstate: No)
FDIC's unique #: 74353
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: No
Date of Deposit Insurance: July 26, 1999
Last Structure Change Effective Date: August 10, 2008
Last Structure Change Process Date: September 26, 2008
Last Data Update: September 26, 2008
Data Source Date: April 05, 2012
LocationAddress: 1891 South 14th Street, Fernandina Beach, FL 32034
County: Nassau
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): Jacksonville, FL (#3600)
Core Based Statistical Area (CBSA): Jacksonville, FL (#27260)
CBSA Metro Statistical Area: Jacksonville, FL (#27260)
Financial SummaryTotal assets: $260.1 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, 2007)
(Dollar figures in thousands)
Total employees (full-time equivalent)59
Total assets$241,927
Cash and due from depository institutions$4,754
Interest-bearing balances$1,510
Securities$43,387
Federal funds sold & reverse repurchase agreements$1,452
Net loans & leases$168,510
Loan loss allowance $1,993
Trading account assets$0
Bank premises and fixed assets$3,870
Other real estate owned$319
Goodwill and other intangibles$10,871
All other assets$8,764
Life insurance assets$4,483
Total liabilities and capital$241,927
Total liabilities$208,940
Total deposits$187,705
Interest-bearing deposits$173,106
Deposits held in domestic offices$187,705
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $2,000
Trading liabilities$0
Other borrowed funds $17,273
Subordinated debt $0
All other liabilities $1,962
Total equity capital$32,987
Total bank equity capital$32,987
Perpetual preferred stock$32,987
Common stock$0
Surplus$3,500
Undivided profits $24,878
Memoranda
Noncurrent loans and leases $4,609
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $37,736
Income earned, not collected on loans $0
Earning assets $1,733
Long-term assets (5+ years) $0
Average Assets, year-to-date $1,136
Average Assets, quarterly $214,859
Volatile liabilities $65,787
Insider loans $235,720
FHLB advances $238,066
Loans and leases held for sale $70,014
Unused loan commitments $4,991
Tier 1 (core) risk-based capital $17,273
Tier 2 risk-based capital $59,054
Total risk weighted assets $19,552
Total unused commitments $37,736
Restructured Loans and leases $0
Derivatives$2,011
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Income and Expense (December 31, 2007)
(Dollar figures in thousands)
Total interest income $15,587
Total interest expense $8,193
Net interest income $7,394
Provision for loan and lease losses $252
Total noninterest income $1,522
Fiduciary activities $0
Service charges on deposit accounts $348
Trading account gains & fees $0
Additional noninterest income $1,174
Total noninterest expense $5,700
Salaries and employee benefits $3,565
Premises and equipment expense $489
Additional noninterest expense $1,646
Pre-tax net operating income $2,964
Securities gains (losses) $6
Applicable income taxes $916
Income before extraordinary items $2,054
Extraordinary gains - net $0
Net income attributable to bank $2,054
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $79
Net operating income $0
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Performance and Condition Ratios (December 31, 2007)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets7.48%
Cost of funding earning assets 3.93%
Net interest margin 3.55%
Noninterest income to earning assets 0.73%
Noninterest expense to earning assets 2.73%
Net operating income to assets 0.87%
Return on assets (ROA) 0.87%
Pretax return on assets 1.26%
Return on equity (ROE) 6.46%
Retained earnings to average equity (YTD only) 6.46%
Net charge-offs to loans 0.05%
Credit loss provision to net charge-offs 318.99%
Efficiency ratio40.71%
Assets per employee$60,778
Cash dividends to net income (YTD only)4.10%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.17%
Noncurrent assets plus other real estate owned to assets 115.00%
Noncurrent loans to loans 0.72%
Net loans and leases to deposits1.02%
Net loans and leases to core deposits 89.77%
Equity capital to assets 138.13%
Core capital (leverage) ratio 13.64%
Tier 1 risk-based capital ratio 9.91%
Total risk-based capital ratio 12.54%
Memoranda
Average assets$14
Average earning assets$235,720
Average equity $31,786
Average loans $208,479
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