First State Bank in city_name, state_name - Detailed Financial Reports, Location

First State Bank in Sarasota, Florida (FL)
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First State Bank - Overview

General
FDIC Certificate #: 27364
Status: Inactive
Closing history: Absorption - Assisted
Acquiring institution: Stearns Bank National Association (#10988)
Federal Reserve ID: 1219591
Date Established: October 27, 1988
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 10 (Interstate: No)
OTS Docket #: 14070
FDIC's unique #: 39684
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: Yes
Date of Deposit Insurance: October 27, 1988
Last Structure Change Effective Date: August 07, 2009
Last Structure Change Process Date: August 10, 2009
Last Data Update: August 10, 2009
Data Source Date: April 05, 2012
Location
Address: 22 South Links Avenue, Sarasota, FL 34236
County: Sarasota
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Tampa
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Sarasota-Bradenton, FL (#7510)
Combined Statistical Area (CSA): Sarasota-Bradenton-Punta Gorda, FL (#494)
Core Based Statistical Area (CBSA): North Port-Bradenton-Sarasota, FL (#35840)
CBSA Metro Statistical Area: North Port-Bradenton-Sarasota, FL (#35840)
Financial Summary
Total assets: $447.7 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, 2008)

Dollar figures in thousands
136Total employees (full-time equivalent)
$463,330Total assets
$5,420Cash and due from depository institutions
$225Interest-bearing balances
$67,321Securities
$1,524Federal funds sold & reverse repurchase agreements
$366,340Net loans & leases
$20,679Loan loss allowance
$0Trading account assets
$12,351Bank premises and fixed assets
$811Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$9,563All other assets
$463,330Total liabilities and capital
$435,509Total liabilities
$368,098Total deposits
$335,295Interest-bearing deposits
$368,098Deposits held in domestic offices
0.00%% insured (estimated)
$25,000Federal funds purchased & repurchase agreements
$0Trading liabilities
$41,000Other borrowed funds
$0Subordinated debt
$1,411All other liabilities
$27,821Total equity capital
$27,821Total bank equity capital
$27,821Perpetual preferred stock
$4,000Common stock
$2Surplus
$33,169Undivided profits
Memoranda
$-9,350Noncurrent loans and leases
$40,231Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$23,880Earning assets
$0Long-term assets (5+ years)
$1,831Average Assets, year-to-date
$435,410Average Assets, quarterly
$91,134Volatile liabilities
$471,386Insider loans
$470,575FHLB advances
$142,452Loans and leases held for sale
$3,730Unused loan commitments
$41,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$46Total risk weighted assets
$40,231Total unused commitments
$7,702Restructured Loans and leases
$5,295Derivatives

Income and Expense (December 31, 2008)

Dollar figures in thousands
$29,391Total interest income
$16,893Total interest expense
$12,498Net interest income
$22,441Provision for loan and lease losses
$1,373Total noninterest income
$0Fiduciary activities
$849Service charges on deposit accounts
$0Trading account gains & fees
$524Additional noninterest income
$13,745Total noninterest expense
$8,012Salaries and employee benefits
$2,593Premises and equipment expense
$3,140Additional noninterest expense
-$22,315Pre-tax net operating income
-$472Securities gains (losses)
-$2,000Applicable income taxes
-$20,787Income before extraordinary items
$0Extraordinary gains - net
-$20,787Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$9,395Sale, conversion, retirement of capital stock, net
$948Net operating income

Performance and Condition Ratios (December 31, 2008)

Dollar figures in thousands
Performance Ratios (%, annualized)
6.60%Yield on earning assets
3.80%Cost of funding earning assets
2.81%Net interest margin
0.31%Noninterest income to earning assets
3.09%Noninterest expense to earning assets
-4.32%Net operating income to assets
-4.41%Return on assets (ROA)
-4.83%Pretax return on assets
-49.41%Return on equity (ROE)
-51.66%Retained earnings to average equity (YTD only)
2.41%Net charge-offs to loans
238.86%Credit loss provision to net charge-offs
0.01%Efficiency ratio
99,092Assets per employee
3.41%Cash dividends to net income (YTD only)
Condition Ratios (%)
-4.56%Loss allowance to loans
5.34%Loss allowance to noncurrent loans
86.60%Noncurrent assets plus other real estate owned to assets
5.33%Noncurrent loans to loans
6.17%Net loans and leases to deposits
99.52%Net loans and leases to core deposits
135.36%Equity capital to assets
6.00%Core capital (leverage) ratio
5.76%Tier 1 risk-based capital ratio
6.77%Total risk-based capital ratio
Memoranda
$8Average assets
$471,386Average earning assets
$42,071Average equity
$445,111Average loans

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

First State Bank - Overview

Assets and Liabilities (December 31, 2008)

Income and Expense (December 31, 2008)

Performance and Condition Ratios (December 31, 2008)

Comment about this bank, ask questions, or add new information about it:

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

First State Bank - Overview

Assets and Liabilities (December 31, 2008)

Income and Expense (December 31, 2008)

Performance and Condition Ratios (December 31, 2008)

Comment about this bank, ask questions, or add new information about it:

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