Grand Bank & Trust of Florida in West Palm Beach, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Grand Bank & Trust of Florida in West Palm Beach, Florida (FL)
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Grand Bank & Trust of Florida - Overview

  • General
  • FDIC Certificate #: 34776
    Status: Active
    Federal Reserve ID: 2765611
    Bank Holding Company (Regulatory Top Holder): Grand Bankshares, Inc. (RSSDID: 3047163, Location: West Palm Beach, FL)
    Date Established: Febuary 01, 1999
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 8 (Domestic: 8, Interstate: No)
    FDIC's unique #: 61549
    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: Febuary 01, 1999
    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: 2055 Palm Beach Lakes Boulevard, West Palm Beach, FL 33409
    County: Palm Beach
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: South Florida
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): West Palm Beach-Boca Raton, FL (#8960)
    Core Based Statistical Area (CBSA): Miami-Fort Lauderdale-Pompano Beach, FL (#33100)
    CBSA Metro Statistical Area: Miami-Fort Lauderdale-Pompano Beach, FL (#33100)
    Core Based Statistical Division: West Palm Beach-Boca Raton-Boynton Beach, FL (#48424)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $323.7 mil
    Equity capital: $16.1 mil
    Deposits held in domestic offices: $285.8 mil
    Return on assets (ROA): -2.40% (-$7.8 mil)
    Quarterly return on assets: 0.10% ($0.3 mil)
    Return on Equity (ROE): -45.76% (-$7.3 mil)
    Quarterly return on equity: 1.94% ($0.3 mil)
    Net income: -$9.1 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: -2.39% (-$7,736.5 mil)
    Quarterly Pretax return on assets: 0.37% ($1,197.7 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
  • 74Total employees (full-time equivalent)
  • $323,704Total assets
  • $25,207Cash and due from depository institutions
  • $21,274Interest-bearing balances
  • $56,043Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $219,688Net loans & leases
  • $7,100Loan loss allowance
  • $0Trading account assets
  • $4,721Bank premises and fixed assets
  • $7,532Other real estate owned
  • $0Goodwill and other intangibles
  • $323,704Life insurance assets
  • $10,513All other assets
  • $307,566Total liabilities and capital
  • $285,815Total liabilities
  • $237,911Total deposits
  • $285,815Interest-bearing deposits
  • $87Deposits held in domestic offices
  • 10196.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $11,000Trading liabilities
  • $0Other borrowed funds
  • $555Subordinated debt
  • $16,138All other liabilities
  • $16,138Total equity capital
  • $16,138Total bank equity capital
  • $0Perpetual preferred stock
  • $4,500Common stock
  • $32,770Surplus
  • $-21,132Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $127Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $16,626Income earned, not collected on loans
  • $0Earning assets
  • $862Long-term assets (5+ years)
  • $297,005Average Assets, year-to-date
  • $57,467Average Assets, quarterly
  • $377,943Volatile liabilities
  • $329,269Insider loans
  • $242,810FHLB advances
  • $324,956Loans and leases held for sale
  • $7,005Unused loan commitments
  • $3,469Tier 1 (core) risk-based capital
  • $16,059Tier 2 risk-based capital
  • $1,880Total risk weighted assets
  • $1,656Total unused commitments
  • $19,839Restructured Loans and leases
  • $9,730Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $14,230Total interest income
  • $3,440Total interest expense
  • $10,790Net interest income
  • $8,594Provision for loan and lease losses
  • $947Total noninterest income
  • $1,145Fiduciary activities
  • $461Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$659Additional noninterest income
  • $12,454Total noninterest expense
  • $5,798Salaries and employee benefits
  • $2,034Premises and equipment expense
  • $4,622Additional noninterest expense
  • -$9,311Pre-tax net operating income
  • $295Securities gains (losses)
  • $71Applicable income taxes
  • -$9,087Income before extraordinary items
  • $0Extraordinary gains - net
  • -$9,087Net income attributable to bank
  • $0Net charge-offs
  • -$9,087Cash dividends
  • $9,494Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.11%Yield on earning assets
  • 0.99%Cost of funding earning assets
  • 3.12%Net interest margin
  • 0.27%Noninterest income to earning assets
  • 3.60%Noninterest expense to earning assets
  • -2.48%Net operating income to assets
  • -2.40%Return on assets (ROA)
  • -2.39%Pretax return on assets
  • -45.76%Return on equity (ROE)
  • -45.76%Retained earnings to average equity (YTD only)
  • 3.75%Net charge-offs to loans
  • 90.52%Credit loss provision to net charge-offs
  • -0.08%Efficiency ratio
  • 106,109Assets per employee
  • 4.37%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.13%Loss allowance to noncurrent loans
  • 42.70%Noncurrent assets plus other real estate owned to assets
  • 7.46%Noncurrent loans to loans
  • 7.33%Net loans and leases to deposits
  • 76.86%Net loans and leases to core deposits
  • 78.60%Equity capital to assets
  • 4.99%Core capital (leverage) ratio
  • 4.94%Tier 1 risk-based capital ratio
  • 6.61%Total risk-based capital ratio
  • Memoranda
  • $8Average assets
  • $377,943Average earning assets
  • $19,857Average equity
  • $345,928Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $193,613Managed Assets
  • 1Number of Accounts
  • $172,626Personal trust and agency accounts
  • $120,069Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $8,549Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $40,075Other fiduciary accounts
  • $3,830Fiduciary accounts held in foreign offices
  • $103Non-managed Assets
  • 326Number of Accounts
  • $0Personal trust and agency accounts
  • $8,549Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $20,987Other retirement accounts
  • $2Corporate trust and agency accounts
  • $1,818Other fiduciary accounts
  • $15,783Fiduciary accounts held in foreign offices

List of branches

  • 8 Florida Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    061549Grand Bank & Trust Of Florida2055 Palm Beach Lakes Boulevard, West Palm Beach, FL 33409Febuary 01, 1999Full Service Brick and Mortar
    1301172Lantana Branch2000 Lantana Road, Lantana, FL 33462Febuary 04, 2000Full Service Brick and Mortar
    2340753Messenger Service2055 Palm Beach Lakes Blvd., West Palm Beach, FL 33409Febuary 01, 1999Limited Service Messenger
    3363335Pga Branch3601 Pga Boulevard, Palm Beach Gardens, FL 33410Febuary 25, 2002Full Service Brick and Mortar
    4418491Jupiter Branch6736 Indiantown Road, Jupiter, FL 33458Febuary 10, 2003Full Service Brick and Mortar
    5451228St. Lucie West Branch1722 Sw St. Lucie West Boulevard, Port Saint Lucie, FL 34986May 15, 2006Full Service Brick and Mortar
    6462245Fort Pierce Branch200 South Indian River Drive, Fort Pierce, FL 34950March 30, 2007Full Service Brick and Mortar
    7470823Vero Beach Branch3240 Cardinal Drive, Vero Beach, FL 32963January 22, 2008Full Service Brick and Mortar

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