Friends Bank in New Smyrna Beach, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

Friends Bank - Overview

  • General
  • FDIC Certificate #: 35376
    Status: Active
    Federal Reserve ID: 2911856
    Date Established: May 15, 2000
    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 #: 78844
    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: May 15, 2000
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 2222 State Route 44, New Smyrna Beach, FL 32168
    County: Volusia
    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): Daytona Beach, FL (#2020)
    Combined Statistical Area (CSA): Orlando-Deltona-Daytona Beach, FL (#422)
    Core Based Statistical Area (CBSA): Deltona-Daytona Beach-Ormond Beach, FL (#19660)
    CBSA Metro Statistical Area: Deltona-Daytona Beach-Ormond Beach, FL (#19660)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $122.7 mil
    Equity capital: $6.9 mil
    Deposits held in domestic offices: $115.7 mil
    Return on assets (ROA): -3.65% (-$4.5 mil)
    Quarterly return on assets: -12.71% (-$15.6 mil)
    Return on Equity (ROE): -46.49% (-$3.3 mil)
    Quarterly return on equity: -180.67% (-$12.6 mil)
    Net income: -$5.0 mil
    Quarterly Net income: -$4.1 mil
    Pretax return on assets: -1.96% (-$2,404.9 mil)
    Quarterly Pretax return on assets: -3.80% (-$4,662.6 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, 2011)

  • Dollar figures in thousands
  • 28Total employees (full-time equivalent)
  • $122,699Total assets
  • $12,770Cash and due from depository institutions
  • $11,919Interest-bearing balances
  • $7,856Securities
  • $107Federal funds sold & reverse repurchase agreements
  • $90,228Net loans & leases
  • $3,731Loan loss allowance
  • $0Trading account assets
  • $4,052Bank premises and fixed assets
  • $6,645Other real estate owned
  • $0Goodwill and other intangibles
  • $122,699Life insurance assets
  • $1,041All other assets
  • $115,758Total liabilities and capital
  • $115,659Total liabilities
  • $105,959Total deposits
  • $115,659Interest-bearing deposits
  • $97Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $99Subordinated debt
  • $6,941All other liabilities
  • $6,941Total equity capital
  • $6,941Total bank equity capital
  • $0Perpetual preferred stock
  • $3,550Common stock
  • $8,284Surplus
  • $-4,893Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $12,155Income earned, not collected on loans
  • $0Earning assets
  • $335Long-term assets (5+ years)
  • $110,110Average Assets, year-to-date
  • $46,672Average Assets, quarterly
  • $136,183Volatile liabilities
  • $127,728Insider loans
  • $99,022FHLB advances
  • $127,965Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $6,607Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $3,856Restructured Loans and leases
  • $821Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,910Total interest income
  • $1,620Total interest expense
  • $4,290Net interest income
  • $2,663Provision for loan and lease losses
  • -$313Total noninterest income
  • $0Fiduciary activities
  • $138Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$451Additional noninterest income
  • $3,977Total noninterest expense
  • $1,452Salaries and employee benefits
  • $396Premises and equipment expense
  • $2,129Additional noninterest expense
  • -$2,663Pre-tax net operating income
  • $0Securities gains (losses)
  • $2,302Applicable income taxes
  • -$4,965Income before extraordinary items
  • $0Extraordinary gains - net
  • -$4,965Net income attributable to bank
  • $0Net charge-offs
  • -$4,965Cash dividends
  • $5,233Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.74%Yield on earning assets
  • 1.30%Cost of funding earning assets
  • 3.44%Net interest margin
  • -0.25%Noninterest income to earning assets
  • 3.19%Noninterest expense to earning assets
  • -3.65%Net operating income to assets
  • -3.65%Return on assets (ROA)
  • -1.96%Pretax return on assets
  • -46.49%Return on equity (ROE)
  • -46.49%Retained earnings to average equity (YTD only)
  • 5.01%Net charge-offs to loans
  • 50.89%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 100,000Assets per employee
  • 4.38%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.97%Loss allowance to noncurrent loans
  • 30.70%Noncurrent assets plus other real estate owned to assets
  • 15.32%Noncurrent loans to loans
  • 12.94%Net loans and leases to deposits
  • 78.01%Net loans and leases to core deposits
  • 81.29%Equity capital to assets
  • 5.66%Core capital (leverage) ratio
  • 5.16%Tier 1 risk-based capital ratio
  • 6.67%Total risk-based capital ratio
  • Memoranda
  • $8Average assets
  • $136,183Average earning assets
  • $10,680Average equity
  • $124,679Average loans

List of branches

  • 3 Florida Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    078844Friends Bank2222 State Route 44, New Smyrna Beach, FL 32168May 15, 2000Full Service Brick and Mortar
    1425788Edgewater Office1504 South Ridgewood Avenue, Edgewater, FL 32132Febuary 23, 2004Full Service Brick and Mortar
    2455371Ormond Beach Branch208 South Nova Road, Ormond Beach, FL 32174September 18, 2006Full Service Brick and Mortar

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