Highlands Independent Bank in Sebring, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

Highlands Independent Bank - Overview

  • General
  • FDIC Certificate #: 26428
    Status: Active
    Federal Reserve ID: 659538
    Bank Holding Company (Regulatory Top Holder): Highlands Independent Bancshares, Inc. (RSSDID: 2638014, Location: Sebring, FL)
    Date Established: November 01, 1985
    WWW: http://www.highlandsindependentbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 6 (Domestic: 6, Interstate: No)
    OTS Docket #: 10432
    FDIC's unique #: 33047
    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 01, 1985
    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: 2600 U.S. Highway 27, North, Sebring, FL 33871
    County: Highlands
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Tampa
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Core Based Statistical Area (CBSA): Sebring, FL (#42700)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $260.6 mil
    Equity capital: $17.7 mil
    Deposits held in domestic offices: $240.6 mil
    Return on assets (ROA): -1.20% (-$3.1 mil)
    Quarterly return on assets: -3.26% (-$8.5 mil)
    Return on Equity (ROE): -16.38% (-$2.9 mil)
    Quarterly return on equity: -45.45% (-$8.2 mil)
    Net income: -$3.3 mil
    Quarterly Net income: -$2.1 mil
    Pretax return on assets: -1.20% (-$3,126.8 mil)
    Quarterly Pretax return on assets: -3.29% (-$8,572.7 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, 2011)

  • Dollar figures in thousands
  • 77Total employees (full-time equivalent)
  • $260,569Total assets
  • $29,313Cash and due from depository institutions
  • $10,642Interest-bearing balances
  • $44,191Securities
  • $7,966Federal funds sold & reverse repurchase agreements
  • $154,298Net loans & leases
  • $9,871Loan loss allowance
  • $0Trading account assets
  • $6,425Bank premises and fixed assets
  • $11,199Other real estate owned
  • $0Goodwill and other intangibles
  • $260,569Life insurance assets
  • $7,177All other assets
  • $242,887Total liabilities and capital
  • $240,638Total liabilities
  • $176,453Total deposits
  • $240,638Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $291Trading liabilities
  • $0Other borrowed funds
  • $1,958Subordinated debt
  • $17,682All other liabilities
  • $17,682Total equity capital
  • $17,682Total bank equity capital
  • $0Perpetual preferred stock
  • $2,993Common stock
  • $13,966Surplus
  • $723Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $14,906Income earned, not collected on loans
  • $0Earning assets
  • $884Long-term assets (5+ years)
  • $217,097Average Assets, year-to-date
  • $36,770Average Assets, quarterly
  • $274,907Volatile liabilities
  • $262,402Insider loans
  • $172,886FHLB advances
  • $265,312Loans and leases held for sale
  • $4,543Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $16,535Tier 2 risk-based capital
  • $2,548Total risk weighted assets
  • $1,995Total unused commitments
  • $24,816Restructured Loans and leases
  • $3,594Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $10,575Total interest income
  • $1,488Total interest expense
  • $9,087Net interest income
  • $5,064Provision for loan and lease losses
  • $1,459Total noninterest income
  • $0Fiduciary activities
  • $862Service charges on deposit accounts
  • $0Trading account gains & fees
  • $597Additional noninterest income
  • $9,109Total noninterest expense
  • $4,073Salaries and employee benefits
  • $1,113Premises and equipment expense
  • $3,923Additional noninterest expense
  • -$3,627Pre-tax net operating income
  • $333Securities gains (losses)
  • $0Applicable income taxes
  • -$3,294Income before extraordinary items
  • $0Extraordinary gains - net
  • -$3,294Net income attributable to bank
  • $0Net charge-offs
  • -$3,294Cash dividends
  • $3,826Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.52%Yield on earning assets
  • 0.64%Cost of funding earning assets
  • 3.89%Net interest margin
  • 0.62%Noninterest income to earning assets
  • 3.90%Noninterest expense to earning assets
  • -1.32%Net operating income to assets
  • -1.20%Return on assets (ROA)
  • -1.20%Pretax return on assets
  • -16.38%Return on equity (ROE)
  • -16.38%Retained earnings to average equity (YTD only)
  • 2.21%Net charge-offs to loans
  • 132.36%Credit loss provision to net charge-offs
  • 0.38%Efficiency ratio
  • 86,374Assets per employee
  • 3.38%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 6.01%Loss allowance to noncurrent loans
  • 66.22%Noncurrent assets plus other real estate owned to assets
  • 10.02%Noncurrent loans to loans
  • 9.08%Net loans and leases to deposits
  • 64.12%Net loans and leases to core deposits
  • 65.86%Equity capital to assets
  • 6.79%Core capital (leverage) ratio
  • 6.23%Tier 1 risk-based capital ratio
  • 9.56%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $274,907Average earning assets
  • $20,112Average equity
  • $233,806Average loans

List of branches

  • 6 Florida Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    033047Highlands Independent Bank2600 U.S. Highway 27, North, Sebring, FL 33871November 01, 1985Full Service Brick and Mortar
    1259417Avon Park Branch400 U S Highway 27 North, Avon Park, FL 33825July 01, 1996Full Service Brick and Mortar
    2357283South Sebring Branch3540 U.S. Hwy. 27 S., Sebring, FL 33870May 15, 2000Full Service Brick and Mortar
    3363331Downtown Sebring Branch205 W. Center Avenue, Sebring, FL 33870March 11, 2002Full Service Brick and Mortar
    4363628Lake Placid Branch207 U.S. Highway #27 South, Lake Placid, FL 33852March 24, 2002Full Service Brick and Mortar
    5462246Sun-N-lake Branch6505 Us Highway 27 North, Sebring, FL 33870December 18, 2006Limited Service Facility

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