Horizon Bank in Bradenton, Florida (FL)



Show street view No street view available for this location
Table of contents:
Horizon Bank
GeneralFDIC Certificate #: 35061
Status: Inactive
Closing history: Absorption - Assisted
Acquiring institution: Bank of the Ozarks (#110)
Federal Reserve ID: 2738857
Date Established: October 25, 1999
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 4 (Interstate: No)
FDIC's unique #: 74365
Numeric code: 13
Regulator: FED
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: October 25, 1999
Last Structure Change Effective Date: September 10, 2010
Last Structure Change Process Date: September 14, 2010
Last Data Update: September 14, 2010
Data Source Date: April 05, 2012
LocationAddress: 900 53rd Avenue East, Bradenton, FL 34203
County: Manatee
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
Metropolitan Statistical Area (MSA): Sarasota-Bradenton, FL (#7510)
Combined Statistical Area (CSA): Sarasota-Bradenton-Punta Gorda, FL (#494)
Core Based Statistical Area (CBSA): North Port-Bradenton-Sarasota, FL (#35840)
CBSA Metro Statistical Area: North Port-Bradenton-Sarasota, FL (#35840)
Financial SummaryTotal assets: $187.8 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, 2009)
(Dollar figures in thousands)
Total employees (full-time equivalent)42
Total assets$199,331
Cash and due from depository institutions$9,719
Interest-bearing balances$6,694
Securities$22,685
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$152,390
Loan loss allowance $4,731
Trading account assets$0
Bank premises and fixed assets$3,699
Other real estate owned$2,580
Goodwill and other intangibles$0
All other assets$8,258
Life insurance assets$0
Total liabilities and capital$199,331
Total liabilities$192,626
Total deposits$174,577
Interest-bearing deposits$164,890
Deposits held in domestic offices$174,577
% insured (estimated)93.20%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $18,000
Subordinated debt $0
All other liabilities $49
Total equity capital$6,705
Total bank equity capital$6,705
Perpetual preferred stock$6,705
Common stock$0
Surplus$2,640
Undivided profits $6,883
Memoranda
Noncurrent loans and leases $-2,818
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $4,779
Income earned, not collected on loans $0
Earning assets $15,685
Long-term assets (5+ years) $0
Average Assets, year-to-date $1,146
Average Assets, quarterly $181,769
Volatile liabilities $44,017
Insider loans $208,932
FHLB advances $203,579
Loans and leases held for sale $25,907
Unused loan commitments $7,935
Tier 1 (core) risk-based capital $18,000
Tier 2 risk-based capital $20,000
Total risk weighted assets $1,262
Total unused commitments $4,779
Restructured Loans and leases $0
Derivatives$1,876
Back to page top, Back to table top

Income and Expense (December 31, 2009)
(Dollar figures in thousands)
Total interest income $11,753
Total interest expense $5,729
Net interest income $6,024
Provision for loan and lease losses $11,197
Total noninterest income $1,228
Fiduciary activities $0
Service charges on deposit accounts $76
Trading account gains & fees $0
Additional noninterest income $1,152
Total noninterest expense $5,575
Salaries and employee benefits $2,387
Premises and equipment expense $949
Additional noninterest expense $2,239
Pre-tax net operating income -$9,520
Securities gains (losses) -$2,095
Applicable income taxes -$3,582
Income before extraordinary items -$8,033
Extraordinary gains - net $0
Net income attributable to bank -$8,033
Net charge-offs $0
Cash dividends -$8,033
Sale, conversion, retirement of capital stock, net $7,969
Net operating income $0
Back to page top, Back to table top

Performance and Condition Ratios (December 31, 2009)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets6.03%
Cost of funding earning assets 2.94%
Net interest margin 3.09%
Noninterest income to earning assets 0.63%
Noninterest expense to earning assets 2.86%
Net operating income to assets -3.15%
Return on assets (ROA) -3.84%
Pretax return on assets -5.56%
Return on equity (ROE) -79.31%
Retained earnings to average equity (YTD only) -79.31%
Net charge-offs to loans 4.80%
Credit loss provision to net charge-offs 140.51%
Efficiency ratio0.21%
Assets per employee$76,875
Cash dividends to net income (YTD only)4.75%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 3.01%
Noncurrent assets plus other real estate owned to assets 30.16%
Noncurrent loans to loans 9.16%
Net loans and leases to deposits9.98%
Net loans and leases to core deposits 87.29%
Equity capital to assets 102.50%
Core capital (leverage) ratio 3.36%
Tier 1 risk-based capital ratio 2.62%
Total risk-based capital ratio 3.64%
Memoranda
Average assets$5
Average earning assets$208,932
Average equity $10,129
Average loans $195,062
Back to page top, Back to table top

User Contributions:

Comment about this bank, ask questions, or add new information about it:

CAPTCHA


This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Horizon Bank.
Based on public records. Inadvertent errors are possible.
BankEncyclopedia.com does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.