Friends Bank in New Smyrna Beach, Florida (FL)



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Friends Bank routing number info

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Friends Bank
GeneralFDIC Certificate #: 35376
Status: Active
Federal Reserve ID: 2911856
Date Established: May 15, 2000
WWW: http://www.friendsbank.com
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
LocationAddress: 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 ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal 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)
Total employees (full-time equivalent)28
Total assets$122,699
Cash and due from depository institutions$12,770
Interest-bearing balances$11,919
Securities$7,856
Federal funds sold & reverse repurchase agreements$107
Net loans & leases$90,228
Loan loss allowance $3,731
Trading account assets$0
Bank premises and fixed assets$4,052
Other real estate owned$6,645
Goodwill and other intangibles$0
All other assets$1,041
Life insurance assets$122,699
Total liabilities and capital$115,758
Total liabilities$115,659
Total deposits$105,959
Interest-bearing deposits$115,659
Deposits held in domestic offices$97
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $99
All other liabilities $6,941
Total equity capital$6,941
Total bank equity capital$6,941
Perpetual preferred stock$0
Common stock$3,550
Surplus$8,284
Undivided profits $-4,893
Memoranda
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 $12,155
Earning assets $0
Long-term assets (5+ years) $335
Average Assets, year-to-date $110,110
Average Assets, quarterly $46,672
Volatile liabilities $136,183
Insider loans $127,728
FHLB advances $99,022
Loans and leases held for sale $127,965
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $6,607
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $3,856
Derivatives$821
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $5,910
Total interest expense $1,620
Net interest income $4,290
Provision for loan and lease losses $2,663
Total noninterest income -$313
Fiduciary activities $0
Service charges on deposit accounts $138
Trading account gains & fees $0
Additional noninterest income -$451
Total noninterest expense $3,977
Salaries and employee benefits $1,452
Premises and equipment expense $396
Additional noninterest expense $2,129
Pre-tax net operating income -$2,663
Securities gains (losses) $0
Applicable income taxes $2,302
Income before extraordinary items -$4,965
Extraordinary gains - net $0
Net income attributable to bank -$4,965
Net charge-offs $0
Cash dividends -$4,965
Sale, conversion, retirement of capital stock, net $5,233
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.74%
Cost of funding earning assets 1.30%
Net interest margin 3.44%
Noninterest income to earning assets -0.25%
Noninterest expense to earning assets 3.19%
Net operating income to assets -3.65%
Return on assets (ROA) -3.65%
Pretax return on assets -1.96%
Return on equity (ROE) -46.49%
Retained earnings to average equity (YTD only) -46.49%
Net charge-offs to loans 5.01%
Credit loss provision to net charge-offs 50.89%
Efficiency ratio0.00%
Assets per employee$100,000
Cash dividends to net income (YTD only)4.38%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 3.97%
Noncurrent assets plus other real estate owned to assets 30.70%
Noncurrent loans to loans 15.32%
Net loans and leases to deposits12.94%
Net loans and leases to core deposits 78.01%
Equity capital to assets 81.29%
Core capital (leverage) ratio 5.66%
Tier 1 risk-based capital ratio 5.16%
Total risk-based capital ratio 6.67%
Memoranda
Average assets$8
Average earning assets$136,183
Average equity $10,680
Average loans $124,679
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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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