GulfSouth Private Bank in Destin, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

GulfSouth Private Bank - Overview

  • General
  • FDIC Certificate #: 58073
    Status: Active
    Federal Reserve ID: 3392872
    Date Established: November 21, 2005
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Domestic: 4, Interstate: No)
    FDIC's unique #: 438887
    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 21, 2005
    Last Structure Change Effective Date: April 30, 2010
    Last Structure Change Process Date: August 11, 2010
    Last Data Update: August 11, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 4405 Commons Drive East, Destin, FL 32541
    County: Okaloosa
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Pensacola
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Fort Walton Beach, FL (#2750)
    Core Based Statistical Area (CBSA): Crestview-Fort Walton Beach-Destin, FL (#18880)
    CBSA Metro Statistical Area: Crestview-Fort Walton Beach-Destin, FL (#18880)
  • History of Changes
  • Change in Location
  • Financial Summary
  • Total assets: $174.1 mil
    Equity capital: $7.9 mil
    Deposits held in domestic offices: $160.7 mil
    Return on assets (ROA): -4.67% (-$8.1 mil)
    Quarterly return on assets: -18.40% (-$32.0 mil)
    Return on Equity (ROE): -60.12% (-$4.8 mil)
    Quarterly return on equity: -273.17% (-$21.9 mil)
    Net income: -$8.7 mil
    Quarterly Net income: -$8.2 mil
    Pretax return on assets: -2.70% (-$4,700.7 mil)
    Quarterly Pretax return on assets: -9.36% (-$16,295.9 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
  • 26Total employees (full-time equivalent)
  • $174,101Total assets
  • $22,824Cash and due from depository institutions
  • $22,088Interest-bearing balances
  • $10,651Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $126,662Net loans & leases
  • $6,879Loan loss allowance
  • $0Trading account assets
  • $8,086Bank premises and fixed assets
  • $4,056Other real estate owned
  • $0Goodwill and other intangibles
  • $174,101Life insurance assets
  • $1,822All other assets
  • $166,180Total liabilities and capital
  • $160,745Total liabilities
  • $150,949Total deposits
  • $160,745Interest-bearing deposits
  • $87Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $5,000Trading liabilities
  • $0Other borrowed funds
  • $435Subordinated debt
  • $7,921All other liabilities
  • $7,921Total equity capital
  • $7,921Total bank equity capital
  • $7,526Perpetual preferred stock
  • $1,725Common stock
  • $15,545Surplus
  • $-16,875Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $22,919Income earned, not collected on loans
  • $0Earning assets
  • $604Long-term assets (5+ years)
  • $159,401Average Assets, year-to-date
  • $10,056Average Assets, quarterly
  • $187,286Volatile liabilities
  • $177,710Insider loans
  • $122,745FHLB advances
  • $180,297Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $7,634Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $5,855Restructured Loans and leases
  • $4,947Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $7,348Total interest income
  • $2,591Total interest expense
  • $4,757Net interest income
  • $4,321Provision for loan and lease losses
  • -$575Total noninterest income
  • $0Fiduciary activities
  • $61Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$636Additional noninterest income
  • $4,926Total noninterest expense
  • $1,994Salaries and employee benefits
  • $758Premises and equipment expense
  • $2,174Additional noninterest expense
  • -$5,065Pre-tax net operating income
  • $0Securities gains (losses)
  • $3,677Applicable income taxes
  • -$8,742Income before extraordinary items
  • $0Extraordinary gains - net
  • -$8,742Net income attributable to bank
  • $0Net charge-offs
  • -$8,742Cash dividends
  • $3,060Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.35%Yield on earning assets
  • 1.53%Cost of funding earning assets
  • 2.81%Net interest margin
  • -0.34%Noninterest income to earning assets
  • 2.91%Noninterest expense to earning assets
  • -4.67%Net operating income to assets
  • -4.67%Return on assets (ROA)
  • -2.70%Pretax return on assets
  • -60.12%Return on equity (ROE)
  • -60.12%Retained earnings to average equity (YTD only)
  • 2.17%Net charge-offs to loans
  • 141.21%Credit loss provision to net charge-offs
  • -0.24%Efficiency ratio
  • 117,791Assets per employee
  • 6.70%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 5.15%Loss allowance to noncurrent loans
  • 30.01%Noncurrent assets plus other real estate owned to assets
  • 15.49%Noncurrent loans to loans
  • 17.16%Net loans and leases to deposits
  • 78.80%Net loans and leases to core deposits
  • 86.71%Equity capital to assets
  • 4.55%Core capital (leverage) ratio
  • 4.23%Tier 1 risk-based capital ratio
  • 6.22%Total risk-based capital ratio
  • Memoranda
  • $8Average assets
  • $187,286Average earning assets
  • $14,540Average equity
  • $168,990Average loans

List of branches

  • 4 Florida Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0438887Gulfsouth Private Bank4405 Commons Drive East, Destin, FL 32541November 21, 2005Full Service Brick and Mortar
    1464789Waterside Branch2441 Highway 98 West, Santa Rosa Beach, FL 32459August 28, 2006Full Service Brick and Mortar
    2467463Fort Walton Beach Branch94 Northeast Eglin Parkway, Fort Walton Beach, FL 32548August 01, 2007Full Service Brick and Mortar
    4511134Pensacola Branch4300 Bayou Boulevard Suite 31 A, Pensacola, FL 32503August 10, 2009Full Service Brick and Mortar

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