FDIC Certificate #: 58356 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Florida Bank (#26280) Federal Reserve ID: 3462430 Date Established: December 04, 2006 Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 1 (Interstate: No) FDIC's unique #: 447329 Numeric code: 13 Regulator: FED 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: December 04, 2006 Last Structure Change Effective Date: December 06, 2008 Last Structure Change Process Date: December 22, 2008 Last Data Update: December 22, 2008 Data Source Date: April 05, 2012
Location
Address: 1432 1st Street, Sarasota, FL 34236 County: Sarasota 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): 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: $38.6 mil
2000 - 2011 Historical total assets, liabilities and capital ($ 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
22Total employees (full-time equivalent)
$62,899Total assets
$1,593Cash and due from depository institutions
$1,265Interest-bearing balances
$0Securities
$0Federal funds sold & reverse repurchase agreements
$53,331Net loans & leases
$673Loan loss allowance
$0Trading account assets
$5,569Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$2,406All other assets
$62,900Total liabilities and capital
$44,644Total liabilities
$44,375Total deposits
$36,136Interest-bearing deposits
$44,375Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$269All other liabilities
$18,256Total equity capital
$18,256Total bank equity capital
$18,256Perpetual preferred stock
$0Common stock
$10,000Surplus
$10,120Undivided profits
Memoranda
$-1,864Noncurrent loans and leases
$15,328Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$0Earning assets
$0Long-term assets (5+ years)
$218Average Assets, year-to-date
$54,596Average Assets, quarterly
$15,018Volatile liabilities
$47,706Insider loans
$55,682FHLB advances
$4,680Loans and leases held for sale
$1,458Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$15,328Total unused commitments
$0Restructured Loans and leases
$673Derivatives
Income and Expense (December 31, 2007)
Dollar figures in thousands
$2,494Total interest income
$1,108Total interest expense
$1,386Net interest income
$656Provision for loan and lease losses
$15Total noninterest income
$0Fiduciary activities
$3Service charges on deposit accounts
$0Trading account gains & fees
$12Additional noninterest income
$3,366Total noninterest expense
$1,776Salaries and employee benefits
$546Premises and equipment expense
$1,044Additional noninterest expense
-$2,621Pre-tax net operating income
$0Securities gains (losses)
-$967Applicable income taxes
-$1,654Income before extraordinary items
$0Extraordinary gains - net
-$1,654Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2007)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.86%Yield on earning assets
2.60%Cost of funding earning assets
3.26%Net interest margin
0.04%Noninterest income to earning assets
7.91%Noninterest expense to earning assets
-3.47%Net operating income to assets
-3.47%Return on assets (ROA)
-5.49%Pretax return on assets
-8.69%Return on equity (ROE)
-8.69%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
240,257Assets per employee
2.86%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.25%Loss allowance to noncurrent loans
0.00%Noncurrent assets plus other real estate owned to assets
0.00%Noncurrent loans to loans
0.00%Net loans and leases to deposits
120.18%Net loans and leases to core deposits
134.35%Equity capital to assets
29.02%Core capital (leverage) ratio
33.59%Tier 1 risk-based capital ratio
25.71%Total risk-based capital ratio
Memoranda
$27Average assets
$47,706Average earning assets
$19,031Average equity
$42,547Average loans
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