Gulfstream Business Bank in Stuart, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

Gulfstream Business Bank - Overview

  • General
  • FDIC Certificate #: 35092
    Status: Active
    Federal Reserve ID: 2814210
    Bank Holding Company (Regulatory Top Holder): Gulfstream Bancshares, Inc. (RSSDID: 3001156, Location: Stuart, FL)
    Date Established: May 27, 1999
    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 #: 74670
    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 27, 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: 2400 Se Monterey Road, Suite 100, Stuart, FL 34996
    County: Martin
    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): Fort Pierce-Port St. Lucie, FL (#2710)
    Combined Statistical Area (CSA): Port St. Lucie-Sebastian-Vero Beach, FL (#442)
    Core Based Statistical Area (CBSA): Port St. Lucie, FL (#38940)
    CBSA Metro Statistical Area: Port St. Lucie, FL (#38940)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $545.9 mil
    Equity capital: $61.1 mil
    Deposits held in domestic offices: $438.2 mil
    Return on assets (ROA): 0.66% ($3.6 mil)
    Quarterly return on assets: 0.72% ($3.9 mil)
    Return on Equity (ROE): 6.06% ($3.7 mil)
    Quarterly return on equity: 6.45% ($3.9 mil)
    Net income: $3.7 mil
    Quarterly Net income: $1.0 mil
    Pretax return on assets: 1.05% ($5,731.9 mil)
    Quarterly Pretax return on assets: 1.14% ($6,223.2 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
  • 76Total employees (full-time equivalent)
  • $545,893Total assets
  • $100,681Cash and due from depository institutions
  • $89,992Interest-bearing balances
  • $57,345Securities
  • $9,054Federal funds sold & reverse repurchase agreements
  • $348,048Net loans & leases
  • $16,717Loan loss allowance
  • $0Trading account assets
  • $6,284Bank premises and fixed assets
  • $5,928Other real estate owned
  • $0Goodwill and other intangibles
  • $545,893Life insurance assets
  • $18,553All other assets
  • $484,768Total liabilities and capital
  • $438,214Total liabilities
  • $294,175Total deposits
  • $438,214Interest-bearing deposits
  • $87Deposits held in domestic offices
  • 4710.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $40,000Trading liabilities
  • $0Other borrowed funds
  • $1,844Subordinated debt
  • $61,125All other liabilities
  • $61,125Total equity capital
  • $61,125Total bank equity capital
  • $0Perpetual preferred stock
  • $5,697Common stock
  • $30,699Surplus
  • $24,729Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $733Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $8,075Income earned, not collected on loans
  • $0Earning assets
  • $1,401Long-term assets (5+ years)
  • $504,439Average Assets, year-to-date
  • $121,504Average Assets, quarterly
  • $556,798Volatile liabilities
  • $545,374Insider loans
  • $392,391FHLB advances
  • $550,495Loans and leases held for sale
  • $4,596Unused loan commitments
  • $4,596Tier 1 (core) risk-based capital
  • $60,626Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $78,122Restructured Loans and leases
  • $10,582Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $25,788Total interest income
  • $5,257Total interest expense
  • $20,531Net interest income
  • $5,320Provision for loan and lease losses
  • $1,620Total noninterest income
  • $0Fiduciary activities
  • $994Service charges on deposit accounts
  • $0Trading account gains & fees
  • $626Additional noninterest income
  • $10,798Total noninterest expense
  • $5,951Salaries and employee benefits
  • $1,097Premises and equipment expense
  • $3,750Additional noninterest expense
  • $6,033Pre-tax net operating income
  • -$195Securities gains (losses)
  • $2,183Applicable income taxes
  • $3,655Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,655Net income attributable to bank
  • $0Net charge-offs
  • $3,655Cash dividends
  • $9,920Sale, conversion, retirement of capital stock, net
  • $1,025Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.99%Yield on earning assets
  • 1.02%Cost of funding earning assets
  • 3.97%Net interest margin
  • 0.31%Noninterest income to earning assets
  • 2.09%Noninterest expense to earning assets
  • 0.68%Net operating income to assets
  • 0.66%Return on assets (ROA)
  • 1.05%Pretax return on assets
  • 6.06%Return on equity (ROE)
  • 4.36%Retained earnings to average equity (YTD only)
  • 2.58%Net charge-offs to loans
  • 53.63%Credit loss provision to net charge-offs
  • 1.14%Efficiency ratio
  • 48,747Assets per employee
  • 7.18%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 28.04%Loss allowance to loans
  • 4.58%Loss allowance to noncurrent loans
  • 207.02%Noncurrent assets plus other real estate owned to assets
  • 2.57%Noncurrent loans to loans
  • 2.21%Net loans and leases to deposits
  • 79.42%Net loans and leases to core deposits
  • 89.33%Equity capital to assets
  • 11.20%Core capital (leverage) ratio
  • 11.01%Tier 1 risk-based capital ratio
  • 15.45%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $556,798Average earning assets
  • $60,297Average equity
  • $516,878Average loans

List of branches

  • 4 Florida Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    074670Gulfstream Business Bank2400 Se Monterey Road, Suite 100, Stuart, FL 34996May 27, 1999Full Service Brick and Mortar
    1428145Delray Beach Branch909 Se 5th Avenue, Delray Beach, FL 33483January 27, 2003Full Service Brick and Mortar
    2467447St Lucie Branch9815 S Us Highway 1, Port Saint Lucie, FL 34952August 16, 2006Full Service Brick and Mortar
    3478291North Palm Branch250 Central Blvd #106, Jupiter, FL 33458July 02, 2007Full Service Brick and Mortar

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