Key West Bank in Key West, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 26, 2010

  • Key West Bank in Key West, Florida (FL)
  • Show street view No street view available for this location

Key West Bank - Overview

  • General
  • FDIC Certificate #: 34684
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: Centennial Bank (#11241)
    Federal Reserve ID: 2769002
    Date Established: Febuary 08, 1999
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 14929
    FDIC's unique #: 61196
    Numeric code: 33
    Regulator: OTS
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: No
    Date of Deposit Insurance: Febuary 08, 1999
    Last Structure Change Effective Date: March 26, 2010
    Last Structure Change Process Date: March 29, 2010
    Last Data Update: March 29, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 701 Whitehead Street, Key West, FL 33040
    County: Monroe
    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
    Core Based Statistical Area (CBSA): Key West, FL (#28580)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Absorption - Assisted
    Corrections
  • Financial Summary
  • Total assets: $88.0 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
  • 16Total employees (full-time equivalent)
  • $88,031Total assets
  • $2,190Cash and due from depository institutions
  • $1,754Interest-bearing balances
  • $0Securities
  • $11,690Federal funds sold & reverse repurchase agreements
  • $65,517Net loans & leases
  • $1,053Loan loss allowance
  • $0Trading account assets
  • $1,181Bank premises and fixed assets
  • $5,968Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $1,485All other assets
  • $88,031Total liabilities and capital
  • $87,979Total liabilities
  • $67,662Total deposits
  • $63,642Interest-bearing deposits
  • $67,662Deposits held in domestic offices
  • 100.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $20,000Other borrowed funds
  • $0Subordinated debt
  • $317All other liabilities
  • $52Total equity capital
  • $52Total bank equity capital
  • $52Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $6,785Undivided profits
  • Memoranda
  • $-6,733Noncurrent loans and leases
  • $1,218Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $6,746Earning assets
  • $0Long-term assets (5+ years)
  • $276Average Assets, year-to-date
  • $78,961Average Assets, quarterly
  • $0Volatile liabilities
  • $93,646Insider loans
  • $93,945FHLB advances
  • $56,537Loans and leases held for sale
  • $3,045Unused loan commitments
  • $20,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $1,218Total unused commitments
  • $8,309Restructured Loans and leases
  • $52Derivatives

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $4,053Total interest income
  • $1,924Total interest expense
  • $2,129Net interest income
  • $5,983Provision for loan and lease losses
  • -$460Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$460Additional noninterest income
  • $2,489Total noninterest expense
  • $1,297Salaries and employee benefits
  • $324Premises and equipment expense
  • $868Additional noninterest expense
  • -$6,803Pre-tax net operating income
  • $310Securities gains (losses)
  • $0Applicable income taxes
  • -$6,493Income before extraordinary items
  • $0Extraordinary gains - net
  • -$6,493Net income attributable to bank
  • $0Net charge-offs
  • -$6,493Cash dividends
  • $5,861Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.74%Yield on earning assets
  • 2.25%Cost of funding earning assets
  • 2.49%Net interest margin
  • -0.54%Noninterest income to earning assets
  • 2.91%Noninterest expense to earning assets
  • -7.26%Net operating income to assets
  • -6.93%Return on assets (ROA)
  • -6.93%Pretax return on assets
  • -160.16%Return on equity (ROE)
  • -160.16%Retained earnings to average equity (YTD only)
  • 7.70%Net charge-offs to loans
  • 102.08%Credit loss provision to net charge-offs
  • -0.14%Efficiency ratio
  • 149,131Assets per employee
  • 5.50%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.58%Loss allowance to noncurrent loans
  • 15.61%Noncurrent assets plus other real estate owned to assets
  • 14.44%Noncurrent loans to loans
  • 10.13%Net loans and leases to deposits
  • 96.83%Net loans and leases to core deposits
  • 210.50%Equity capital to assets
  • 0.06%Core capital (leverage) ratio
  • 0.06%Tier 1 risk-based capital ratio
  • 0.09%Total risk-based capital ratio
  • Memoranda
  • $0Average assets
  • $93,646Average earning assets
  • $4,054Average equity
  • $85,436Average loans

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