Florida Shores Bank - Southwest in Venice, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Florida Shores Bank - Southwest in Venice, Florida (FL)
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Florida Shores Bank - Southwest - Overview

  • General
  • FDIC Certificate #: 58616
    Status: Active
    Federal Reserve ID: 3632448
    Bank Holding Company (Regulatory Top Holder): Smith Associates Bank Fund Management Llc (RSSDID: 3467293, Location: Pompano Beach, FL)
    Date Established: November 26, 2007
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    FDIC's unique #: 458393
    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 26, 2007
    Last Structure Change Effective Date: November 26, 2007
    Last Structure Change Process Date: November 27, 2007
    Last Data Update: November 27, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 500 U. S. Highway 41 Bypass North, Venice, FL 34285
    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)
  • History of Changes
  • Change in Geographic Region/Area/Territory/Field Office
    New Institution
  • Financial Summary
  • Total assets: $317.4 mil
    Equity capital: $33.7 mil
    Deposits held in domestic offices: $283.2 mil
    Return on assets (ROA): 0.56% ($1.8 mil)
    Quarterly return on assets: 0.81% ($2.6 mil)
    Return on Equity (ROE): 5.76% ($2.0 mil)
    Quarterly return on equity: 7.33% ($2.5 mil)
    Net income: $1.6 mil
    Quarterly Net income: $0.6 mil
    Pretax return on assets: 0.35% ($1,110.8 mil)
    Quarterly Pretax return on assets: -0.01% (-$31.7 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
  • 47Total employees (full-time equivalent)
  • $317,362Total assets
  • $8,180Cash and due from depository institutions
  • $210Interest-bearing balances
  • $140,563Securities
  • $5,089Federal funds sold & reverse repurchase agreements
  • $153,245Net loans & leases
  • $2,778Loan loss allowance
  • $0Trading account assets
  • $7,553Bank premises and fixed assets
  • $503Other real estate owned
  • $0Goodwill and other intangibles
  • $317,362Life insurance assets
  • $2,229All other assets
  • $283,626Total liabilities and capital
  • $283,241Total liabilities
  • $262,779Total deposits
  • $283,241Interest-bearing deposits
  • $82Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $385Subordinated debt
  • $33,736All other liabilities
  • $33,736Total equity capital
  • $33,736Total bank equity capital
  • $6,750Perpetual preferred stock
  • $13,210Common stock
  • $14,957Surplus
  • $-1,181Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,260Income earned, not collected on loans
  • $0Earning assets
  • $896Long-term assets (5+ years)
  • $299,107Average Assets, year-to-date
  • $161,759Average Assets, quarterly
  • $288,663Volatile liabilities
  • $308,150Insider loans
  • $181,458FHLB advances
  • $307,587Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $32,153Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $30,235Restructured Loans and leases
  • $7,419Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $10,609Total interest income
  • $2,217Total interest expense
  • $8,392Net interest income
  • $1,309Provision for loan and lease losses
  • $276Total noninterest income
  • $0Fiduciary activities
  • $23Service charges on deposit accounts
  • $0Trading account gains & fees
  • $253Additional noninterest income
  • $6,770Total noninterest expense
  • $3,723Salaries and employee benefits
  • $864Premises and equipment expense
  • $2,183Additional noninterest expense
  • $589Pre-tax net operating income
  • $407Securities gains (losses)
  • -$633Applicable income taxes
  • $1,629Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,629Net income attributable to bank
  • $0Net charge-offs
  • $1,629Cash dividends
  • $215Sale, conversion, retirement of capital stock, net
  • $25Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.95%Yield on earning assets
  • 0.82%Cost of funding earning assets
  • 3.12%Net interest margin
  • 0.10%Noninterest income to earning assets
  • 2.52%Noninterest expense to earning assets
  • 0.42%Net operating income to assets
  • 0.56%Return on assets (ROA)
  • 0.35%Pretax return on assets
  • 5.76%Return on equity (ROE)
  • 5.67%Retained earnings to average equity (YTD only)
  • 0.16%Net charge-offs to loans
  • 608.84%Credit loss provision to net charge-offs
  • 8.83%Efficiency ratio
  • 78,103Assets per employee
  • 6.75%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 1.53%Loss allowance to loans
  • 1.78%Loss allowance to noncurrent loans
  • 85.21%Noncurrent assets plus other real estate owned to assets
  • 1.19%Noncurrent loans to loans
  • 2.09%Net loans and leases to deposits
  • 54.10%Net loans and leases to core deposits
  • 60.35%Equity capital to assets
  • 10.63%Core capital (leverage) ratio
  • 10.45%Tier 1 risk-based capital ratio
  • 17.72%Total risk-based capital ratio
  • Memoranda
  • $19Average assets
  • $288,663Average earning assets
  • $28,267Average equity
  • $268,843Average loans

List of branches

  • 3 Florida Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0458393Florida Shores Bank - Southwest500 U. S. Highway 41 Bypass North, Venice, FL 34285November 26, 2007Full Service Brick and Mortar
    1479366Englewood Branch1450 Placida Road, Englewood, FL 34223January 14, 2008Full Service Brick and Mortar
    2479927Fort Myers Branch12995 South Cleveland Avenue, Fort Myers, FL 33907July 23, 2008Full Service Brick and Mortar

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