Indian River National Bank in Vero Beach, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of April 12, 2008

  • Indian River National Bank in Vero Beach, Florida (FL)
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Indian River National Bank - Overview

  • General
  • FDIC Certificate #: 26018
    Status: Inactive
    Closing history: Absorption - Without Assistance
    Acquiring institution: RBC Bank (USA) (#33184)
    Federal Reserve ID: 576439
    Date Established: March 26, 1985
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 11 (Interstate: No)
    OTS Docket #: 13840
    FDIC's unique #: 32298
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: No
    Date of Deposit Insurance: March 26, 1985
    Last Structure Change Effective Date: April 12, 2008
    Last Structure Change Process Date: May 28, 2008
    Last Data Update: May 28, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 958 20th Place, Vero Beach, FL 32961
    County: Indian River
    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
    Combined Statistical Area (CSA): Port St. Lucie-Sebastian-Vero Beach, FL (#442)
    Core Based Statistical Area (CBSA): Sebastian-Vero Beach, FL (#42680)
    CBSA Metro Statistical Area: Sebastian-Vero Beach, FL (#42680)
  • Financial Summary
  • Total assets: $698.2 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, 2007)

  • Dollar figures in thousands
  • 154Total employees (full-time equivalent)
  • $762,321Total assets
  • $19,805Cash and due from depository institutions
  • $5,599Interest-bearing balances
  • $200,377Securities
  • $1,596Federal funds sold & reverse repurchase agreements
  • $494,085Net loans & leases
  • $8,454Loan loss allowance
  • $0Trading account assets
  • $23,370Bank premises and fixed assets
  • $1,334Other real estate owned
  • $1,796Goodwill and other intangibles
  • $7,816Life insurance assets
  • $19,958All other assets
  • $762,321Total liabilities and capital
  • $703,127Total liabilities
  • $606,451Total deposits
  • $480,525Interest-bearing deposits
  • $606,451Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $23,029Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $72,008Other borrowed funds
  • $0Subordinated debt
  • $1,639All other liabilities
  • $59,194Total equity capital
  • $59,194Total bank equity capital
  • $59,194Perpetual preferred stock
  • $0Common stock
  • $1,103Surplus
  • $19,186Undivided profits
  • Memoranda
  • $38,905Noncurrent loans and leases
  • $105,078Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $7,021Earning assets
  • $0Long-term assets (5+ years)
  • $3,074Average Assets, year-to-date
  • $701,657Average Assets, quarterly
  • $232,352Volatile liabilities
  • $787,866Insider loans
  • $774,725FHLB advances
  • $151,609Loans and leases held for sale
  • $5,002Unused loan commitments
  • $72,008Tier 1 (core) risk-based capital
  • $3,112Tier 2 risk-based capital
  • $3,120Total risk weighted assets
  • $105,078Total unused commitments
  • $0Restructured Loans and leases
  • $6,883Derivatives

Income and Expense (December 31, 2007)

  • Dollar figures in thousands
  • $49,786Total interest income
  • $24,102Total interest expense
  • $25,684Net interest income
  • $4,307Provision for loan and lease losses
  • $4,911Total noninterest income
  • $0Fiduciary activities
  • $2,295Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,616Additional noninterest income
  • $17,730Total noninterest expense
  • $9,814Salaries and employee benefits
  • $2,235Premises and equipment expense
  • $5,681Additional noninterest expense
  • $8,558Pre-tax net operating income
  • -$52Securities gains (losses)
  • $2,462Applicable income taxes
  • $6,044Income before extraordinary items
  • $0Extraordinary gains - net
  • $6,044Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $1,864Sale, conversion, retirement of capital stock, net
  • $7,000Net operating income

Performance and Condition Ratios (December 31, 2007)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.80%Yield on earning assets
  • 3.29%Cost of funding earning assets
  • 3.51%Net interest margin
  • 0.67%Noninterest income to earning assets
  • 2.42%Noninterest expense to earning assets
  • 0.77%Net operating income to assets
  • 0.77%Return on assets (ROA)
  • 1.08%Pretax return on assets
  • 10.09%Return on equity (ROE)
  • -1.60%Retained earnings to average equity (YTD only)
  • 0.37%Net charge-offs to loans
  • 231.06%Credit loss provision to net charge-offs
  • 6.90%Efficiency ratio
  • 54,283Assets per employee
  • 4.95%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 115.82%Loss allowance to loans
  • 1.68%Loss allowance to noncurrent loans
  • 120.41%Noncurrent assets plus other real estate owned to assets
  • 1.10%Noncurrent loans to loans
  • 1.40%Net loans and leases to deposits
  • 81.47%Net loans and leases to core deposits
  • 103.39%Equity capital to assets
  • 7.76%Core capital (leverage) ratio
  • 7.43%Tier 1 risk-based capital ratio
  • 10.57%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $787,866Average earning assets
  • $59,889Average equity
  • $731,998Average loans

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