Jacksonville Federal Savings Association in Jacksonville, Florida (FL)

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Jacksonville Federal Savings Association
GeneralFDIC Certificate #: 33622
Status: Inactive
Closing history: Conservatorship Institution Resolved
Acquiring institution: First Union National Bank of Florida (#24398)
Federal Reserve ID: 10773
Date Established: June 26, 1992
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
OTS Docket #: 10033
FDIC's unique #: 47676
Numeric code: 38
Regulator: OTS
Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
FDIC Insured: Yes
SAIF Insured: Yes
Insured Savings Institution: Yes
State Chartered: No
Date of Deposit Insurance: June 26, 1992
Last Structure Change Effective Date: April 08, 1994
Last Structure Change Process Date: April 18, 1994
Last Data Update: August 02, 1994
Data Source Date: April 05, 2012
LocationAddress: 2107 Hendricks Avenue, Jacksonville, FL 32207
County: Duval
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Gainesville
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Jacksonville, FL (#3600)
Core Based Statistical Area (CBSA): Jacksonville, FL (#27260)
CBSA Metro Statistical Area: Jacksonville, FL (#27260)
History of ChangesPass Through Receivership Merger
Conservatorship Institution Resolved
Financial SummaryTotal assets: $52.3 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$31
Cash and due from depository institutions$58,866
Interest-bearing balances$2,777
Federal funds sold & reverse repurchase agreements$31,475
Net loans & leases$0
Loan loss allowance $14,343
Trading account assets$9,781
Bank premises and fixed assets$0
Other real estate owned$1,851
Goodwill and other intangibles$2,401
All other assets$0
Life insurance assets$6,019
Total liabilities and capital$0
Total liabilities$58,866
Total deposits$79,822
Interest-bearing deposits$78,943
Deposits held in domestic offices$78,943
% insured (estimated)78943.00%
Federal funds purchased & repurchase agreements $97
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $0
Total equity capital$879
Total bank equity capital$879
Perpetual preferred stock$-20,956
Common stock$0
Undivided profits $0
Noncurrent loans and leases $-20,956
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $18,730
Earning assets $37
Long-term assets (5+ years) $48,372
Average Assets, year-to-date $0
Average Assets, quarterly $70,269
Volatile liabilities $61,160
Insider loans $4,728
FHLB advances $0
Loans and leases held for sale $0
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $-20,956
Total unused commitments $28,782
Restructured Loans and leases $0
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Income and Expense (December 31, 1993)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $2,195
Net interest income $3,729
Provision for loan and lease losses -$1,534
Total noninterest income $2,068
Fiduciary activities -$1,055
Service charges on deposit accounts $0
Trading account gains & fees $0
Additional noninterest income $0
Total noninterest expense -$1,055
Salaries and employee benefits $4,236
Premises and equipment expense $1,550
Additional noninterest expense $477
Pre-tax net operating income $2,209
Securities gains (losses) -$8,893
Applicable income taxes -$876
Income before extraordinary items $0
Extraordinary gains - net -$9,769
Net income attributable to bank $104
Net charge-offs -$9,665
Cash dividends $4,002
Sale, conversion, retirement of capital stock, net $0
Net operating income $0
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Performance and Condition Ratios (December 31, 1993)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 3.70%
Net interest margin 6.28%
Noninterest income to earning assets -2.58%
Noninterest expense to earning assets -1.78%
Net operating income to assets 7.14%
Return on assets (ROA) -12.66%
Pretax return on assets -13.75%
Return on equity (ROE) -13.75%
Retained earnings to average equity (YTD only) 57.94%
Net charge-offs to loans 57.94%
Credit loss provision to net charge-offs 11.82%
Efficiency ratio51.67%
Assets per employee-$163,615
Cash dividends to net income (YTD only)1.90%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 40.54%
Noncurrent assets plus other real estate owned to assets 52.22%
Noncurrent loans to loans 35.90%
Net loans and leases to deposits77.64%
Net loans and leases to core deposits 18.17%
Equity capital to assets 19.33%
Core capital (leverage) ratio -35.60%
Tier 1 risk-based capital ratio -35.60%
Total risk-based capital ratio -72.81%
Average assets-$73
Average earning assets$70,269
Average equity -$16,681
Average loans $59,348
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