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

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Florida Shores Bank - Southwest routing number info

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Florida Shores Bank - Southwest
GeneralFDIC 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
LocationAddress: 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 ChangesChange in Geographic Region/Area/Territory/Field Office
New Institution
Financial SummaryTotal 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)
Total employees (full-time equivalent)47
Total assets$317,362
Cash and due from depository institutions$8,180
Interest-bearing balances$210
Federal funds sold & reverse repurchase agreements$5,089
Net loans & leases$153,245
Loan loss allowance $2,778
Trading account assets$0
Bank premises and fixed assets$7,553
Other real estate owned$503
Goodwill and other intangibles$0
All other assets$2,229
Life insurance assets$317,362
Total liabilities and capital$283,626
Total liabilities$283,241
Total deposits$262,779
Interest-bearing deposits$283,241
Deposits held in domestic offices$82
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $385
All other liabilities $33,736
Total equity capital$33,736
Total bank equity capital$33,736
Perpetual preferred stock$6,750
Common stock$13,210
Undivided profits $-1,181
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $3,260
Earning assets $0
Long-term assets (5+ years) $896
Average Assets, year-to-date $299,107
Average Assets, quarterly $161,759
Volatile liabilities $288,663
Insider loans $308,150
FHLB advances $181,458
Loans and leases held for sale $307,587
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $32,153
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $30,235
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $10,609
Total interest expense $2,217
Net interest income $8,392
Provision for loan and lease losses $1,309
Total noninterest income $276
Fiduciary activities $0
Service charges on deposit accounts $23
Trading account gains & fees $0
Additional noninterest income $253
Total noninterest expense $6,770
Salaries and employee benefits $3,723
Premises and equipment expense $864
Additional noninterest expense $2,183
Pre-tax net operating income $589
Securities gains (losses) $407
Applicable income taxes -$633
Income before extraordinary items $1,629
Extraordinary gains - net $0
Net income attributable to bank $1,629
Net charge-offs $0
Cash dividends $1,629
Sale, conversion, retirement of capital stock, net $215
Net operating income $25
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets3.95%
Cost of funding earning assets 0.82%
Net interest margin 3.12%
Noninterest income to earning assets 0.10%
Noninterest expense to earning assets 2.52%
Net operating income to assets 0.42%
Return on assets (ROA) 0.56%
Pretax return on assets 0.35%
Return on equity (ROE) 5.76%
Retained earnings to average equity (YTD only) 5.67%
Net charge-offs to loans 0.16%
Credit loss provision to net charge-offs 608.84%
Efficiency ratio8.83%
Assets per employee$78,103
Cash dividends to net income (YTD only)6.75%
Condition Ratios (%)
Loss allowance to loans 1.53%
Loss allowance to noncurrent loans 1.78%
Noncurrent assets plus other real estate owned to assets 85.21%
Noncurrent loans to loans 1.19%
Net loans and leases to deposits2.09%
Net loans and leases to core deposits 54.10%
Equity capital to assets 60.35%
Core capital (leverage) ratio 10.63%
Tier 1 risk-based capital ratio 10.45%
Total risk-based capital ratio 17.72%
Average assets$19
Average earning assets$288,663
Average equity $28,267
Average loans $268,843
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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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