Heritage First Bank in Gulf Shores, Alabama (AL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of December 09, 2011

  • Heritage First Bank in Gulf Shores, Alabama (AL)
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Heritage First Bank - Overview

  • General
  • FDIC Certificate #: 19023
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Merchants & Marine Bank (#12203)
    Federal Reserve ID: 420934
    Date Established: Febuary 14, 1964
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Interstate: No)
    FDIC's unique #: 12863
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: Febuary 14, 1964
    Last Structure Change Effective Date: December 09, 2011
    Last Structure Change Process Date: January 05, 2012
    Last Data Update: January 05, 2012
    Data Source Date: April 05, 2012
  • Location
  • Address: 1820 South Gulf Shores Parkway, Gulf Shores, AL 36542
    County: Baldwin
    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): Mobile, AL (#5160)
    Combined Statistical Area (CSA): Mobile-Daphne-Fairhope, AL (#380)
    Core Based Statistical Area (CBSA): Daphne-Fairhope-Foley, AL (#19300)
    CBSA Micro Statistical Area: Yes
  • Financial Summary
  • Total assets: $54.6 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, 2010)

  • Dollar figures in thousands
  • 23Total employees (full-time equivalent)
  • $57,324Total assets
  • $10,115Cash and due from depository institutions
  • $9,593Interest-bearing balances
  • $3,674Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $34,388Net loans & leases
  • $995Loan loss allowance
  • $0Trading account assets
  • $6,157Bank premises and fixed assets
  • $2,596Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $394All other assets
  • $57,324Total liabilities and capital
  • $54,436Total liabilities
  • $54,253Total deposits
  • $45,263Interest-bearing deposits
  • $54,253Deposits held in domestic offices
  • 96.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $183All other liabilities
  • $2,888Total equity capital
  • $2,888Total bank equity capital
  • $2,888Perpetual preferred stock
  • $0Common stock
  • $200Surplus
  • $8,101Undivided profits
  • Memoranda
  • $-5,413Noncurrent loans and leases
  • $1,032Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $1,450Earning assets
  • $0Long-term assets (5+ years)
  • $235Average Assets, year-to-date
  • $47,655Average Assets, quarterly
  • $1,825Volatile liabilities
  • $55,998Insider loans
  • $56,724FHLB advances
  • $9,430Loans and leases held for sale
  • $965Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $1,032Total unused commitments
  • $1,445Restructured Loans and leases
  • $462Derivatives

Income and Expense (December 31, 2010)

  • Dollar figures in thousands
  • $2,633Total interest income
  • $643Total interest expense
  • $1,990Net interest income
  • $979Provision for loan and lease losses
  • $390Total noninterest income
  • $0Fiduciary activities
  • $304Service charges on deposit accounts
  • $0Trading account gains & fees
  • $86Additional noninterest income
  • $2,679Total noninterest expense
  • $1,228Salaries and employee benefits
  • $340Premises and equipment expense
  • $1,111Additional noninterest expense
  • -$1,278Pre-tax net operating income
  • $2Securities gains (losses)
  • $0Applicable income taxes
  • -$1,276Income before extraordinary items
  • $0Extraordinary gains - net
  • -$1,276Net income attributable to bank
  • $0Net charge-offs
  • -$1,276Cash dividends
  • $802Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2010)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.58%Yield on earning assets
  • 1.36%Cost of funding earning assets
  • 4.22%Net interest margin
  • 0.83%Noninterest income to earning assets
  • 5.68%Noninterest expense to earning assets
  • -2.28%Net operating income to assets
  • -2.28%Return on assets (ROA)
  • -2.28%Pretax return on assets
  • -36.79%Return on equity (ROE)
  • -36.79%Retained earnings to average equity (YTD only)
  • 2.04%Net charge-offs to loans
  • 122.07%Credit loss provision to net charge-offs
  • -0.37%Efficiency ratio
  • 112,563Assets per employee
  • 2.49%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.81%Loss allowance to noncurrent loans
  • 68.62%Noncurrent assets plus other real estate owned to assets
  • 7.06%Noncurrent loans to loans
  • 4.10%Net loans and leases to deposits
  • 63.38%Net loans and leases to core deposits
  • 76.72%Equity capital to assets
  • 5.04%Core capital (leverage) ratio
  • 4.75%Tier 1 risk-based capital ratio
  • 7.51%Total risk-based capital ratio
  • Memoranda
  • $9Average assets
  • $55,998Average earning assets
  • $3,469Average equity
  • $47,172Average loans

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