Harbor Federal Savings Bank in Fort Pierce, Florida (FL)

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Harbor Federal Savings Bank
GeneralFDIC Certificate #: 29307
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: National City Bank (#6557)
Federal Reserve ID: 39372
Date Established: January 01, 1934
WWW: http://www.harborfederal.com
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
OTS Docket #: 3257
FDIC's unique #: 42141
Numeric code: 33
Regulator: OTS
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: Yes
Deposit Insurance Fund member: Yes
State Chartered: No
Date of Deposit Insurance: January 11, 1935
Last Structure Change Effective Date: March 17, 2007
Last Structure Change Process Date: March 27, 2007
Last Data Update: March 27, 2007
Data Source Date: April 05, 2012
LocationAddress: 100 South Second Street, Fort Pierce, FL 34950
County: St. Lucie
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)
Financial SummaryTotal assets: $4,373.1 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, 2006)
(Dollar figures in thousands)
Total employees (full-time equivalent)696
Total assets$4,373,131
Cash and due from depository institutions$70,289
Interest-bearing balances$2,883
Federal funds sold & reverse repurchase agreements$367,161
Net loans & leases$2,674,961
Loan loss allowance $12,032
Trading account assets$0
Bank premises and fixed assets$87,137
Other real estate owned$785
Goodwill and other intangibles$733,047
All other assets$54,180
Life insurance assets$0
Total liabilities and capital$4,373,132
Total liabilities$3,282,052
Total deposits$2,276,000
Interest-bearing deposits$1,932,215
Deposits held in domestic offices$2,276,000
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $312,237
Trading liabilities$0
Other borrowed funds $614,679
Subordinated debt $0
All other liabilities $79,136
Total equity capital$1,091,080
Total bank equity capital$1,091,080
Perpetual preferred stock$1,091,080
Common stock$0
Undivided profits $1,085,137
Noncurrent loans and leases $5,942
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $486,999
Income earned, not collected on loans $0
Earning assets $5,258
Long-term assets (5+ years) $0
Average Assets, year-to-date $16,596
Average Assets, quarterly $3,430,576
Volatile liabilities $0
Insider loans $3,426,730
FHLB advances $3,820,512
Loans and leases held for sale $1,742,834
Unused loan commitments $8,362
Tier 1 (core) risk-based capital $614,679
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $486,999
Restructured Loans and leases $675
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Income and Expense (December 31, 2006)
(Dollar figures in thousands)
Total interest income $51,850
Total interest expense $27,692
Net interest income $24,158
Provision for loan and lease losses -$8,090
Total noninterest income $5,682
Fiduciary activities $0
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $5,682
Total noninterest expense $18,753
Salaries and employee benefits $11,738
Premises and equipment expense $3,797
Additional noninterest expense $3,218
Pre-tax net operating income $19,177
Securities gains (losses) $918
Applicable income taxes $8,165
Income before extraordinary items $11,930
Extraordinary gains - net $0
Net income attributable to bank $11,930
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net $722
Net operating income $0
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Performance and Condition Ratios (December 31, 2006)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets1.68%
Cost of funding earning assets 0.90%
Net interest margin 0.78%
Noninterest income to earning assets 0.18%
Noninterest expense to earning assets 0.61%
Net operating income to assets 0.33%
Return on assets (ROA) 0.35%
Pretax return on assets 0.59%
Return on equity (ROE) 2.52%
Retained earnings to average equity (YTD only) 2.52%
Net charge-offs to loans 0.03%
Credit loss provision to net charge-offs -1120.50%
Efficiency ratio15.36%
Assets per employee$60,801
Cash dividends to net income (YTD only)6.28%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 0.45%
Noncurrent assets plus other real estate owned to assets 228.83%
Noncurrent loans to loans 0.12%
Net loans and leases to deposits0.20%
Net loans and leases to core deposits 117.53%
Equity capital to assets 183.21%
Core capital (leverage) ratio 24.95%
Tier 1 risk-based capital ratio 9.95%
Total risk-based capital ratio 16.72%
Average assets$17
Average earning assets$3,426,730
Average equity $473,152
Average loans $3,086,349
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