FDIC Certificate #: 25654 Status: Inactive Federal Reserve ID: 931636 Date Established: September 24, 1984 WWW:http://www.gulfbankonline.com Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 3 (Interstate: No) OTS Docket #: 11255 FDIC's unique #: 17559 Numeric code: 13 Regulator: FED Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes Insured commercial Banks: Yes FDIC Insured: Yes State Chartered: Yes Date of Deposit Insurance: September 24, 1984 Last Structure Change Effective Date: Febuary 17, 2004 Last Structure Change Process Date: April 26, 2004 Last Data Update: April 26, 2004 Data Source Date: April 05, 2012
Location
Address: 3400 Coral Way, Miami, FL 33145 County: Miami-Dade 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): Miami, FL (#5000) Consolidated Metropolitan Statistical Area (CMSA): Miami-Fort Lauderdale, FL (#56) 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: Miami-Miami Beach-Kendall, FL (#33124)
History of Changes
Other Liquidations and Closings
Office Sold
Financial Summary
Total assets: $70.4 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2003)
Dollar figures in thousands
41Total employees (full-time equivalent)
$70,432Total assets
$5,440Cash and due from depository institutions
$2,071Interest-bearing balances
$22,141Securities
$0Federal funds sold & reverse repurchase agreements
$39,132Net loans & leases
$732Loan loss allowance
$0Trading account assets
$2,193Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,526All other assets
$70,432Total liabilities and capital
$64,019Total liabilities
$60,050Total deposits
$44,114Interest-bearing deposits
$60,050Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$3,000Other borrowed funds
$0Subordinated debt
$969All other liabilities
$6,413Total equity capital
$6,413Total bank equity capital
$6,413Perpetual preferred stock
$733Common stock
$1,652Surplus
$1,743Undivided profits
Memoranda
$2,285Noncurrent loans and leases
$2,530Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$354Earning assets
$315Long-term assets (5+ years)
$347Average Assets, year-to-date
$63,344Average Assets, quarterly
$17,158Volatile liabilities
$80,816Insider loans
$72,777FHLB advances
$9,058Loans and leases held for sale
$0Unused loan commitments
$3,000Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$2,530Total unused commitments
$0Restructured Loans and leases
$561Derivatives
$219Total assets and liabilities in foreign offices
Income and Expense (December 31, 2003)
Dollar figures in thousands
$4,105Total interest income
$1,383Total interest expense
$2,722Net interest income
-$35Provision for loan and lease losses
$970Total noninterest income
$0Fiduciary activities
$805Service charges on deposit accounts
$0Trading account gains & fees
$165Additional noninterest income
$6,135Total noninterest expense
$2,588Salaries and employee benefits
$557Premises and equipment expense
$2,990Additional noninterest expense
-$2,408Pre-tax net operating income
$65Securities gains (losses)
$0Applicable income taxes
-$2,343Income before extraordinary items
$0Extraordinary gains - net
-$2,343Net income attributable to bank
$0Net charge-offs
$0Cash dividends
-$167Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2003)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.57%Yield on earning assets
1.88%Cost of funding earning assets
3.70%Net interest margin
1.32%Noninterest income to earning assets
8.33%Noninterest expense to earning assets
-2.98%Net operating income to assets
-2.90%Return on assets (ROA)
-2.90%Pretax return on assets
-31.21%Return on equity (ROE)
-31.21%Retained earnings to average equity (YTD only)
-0.39%Net charge-offs to loans
20.96%Credit loss provision to net charge-offs
0.00%Efficiency ratio
166,170Assets per employee
1.72%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.84%Loss allowance to noncurrent loans
206.78%Noncurrent assets plus other real estate owned to assets
0.50%Noncurrent loans to loans
0.89%Net loans and leases to deposits
65.17%Net loans and leases to core deposits
76.74%Equity capital to assets
9.11%Core capital (leverage) ratio
8.56%Tier 1 risk-based capital ratio
13.98%Total risk-based capital ratio
Memoranda
$15Average assets
$80,816Average earning assets
$7,508Average equity
$73,653Average loans
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