FDIC Certificate #: 35356 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Sabadell United Bank, National Association (#21837) Federal Reserve ID: 2903383 Date Established: April 06, 2000 Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) Offices: 7 (Interstate: No) OTS Docket #: 16406 FDIC's unique #: 78818 Numeric code: 33 Regulator: OCC 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: April 06, 2000 Last Structure Change Effective Date: August 19, 2011 Last Structure Change Process Date: August 22, 2011 Last Data Update: August 22, 2011 Data Source Date: April 05, 2012
Location
Address: 180 Royal Palm Way, Palm Beach, FL 33480 County: Palm Beach 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 Metropolitan Statistical Area (MSA): West Palm Beach-Boca Raton, FL (#8960) Core Based Statistical Area (CBSA): Miami-Fort Lauderdale-Pompano Beach, FL (#33100) CBSA Metro Statistical Area: Miami-Fort Lauderdale-Pompano Beach, FL (#33100) Core Based Statistical Division: West Palm Beach-Boca Raton-Boynton Beach, FL (#48424)
Financial Summary
Total assets: $1,700.1 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2010)
Dollar figures in thousands
150Total employees (full-time equivalent)
$1,764,703Total assets
$102,808Cash and due from depository institutions
$101,860Interest-bearing balances
$203,062Securities
$0Federal funds sold & reverse repurchase agreements
$1,270,051Net loans & leases
$23,169Loan loss allowance
$0Trading account assets
$12,442Bank premises and fixed assets
$42,614Other real estate owned
$12,819Goodwill and other intangibles
$28,464Life insurance assets
$120,907All other assets
$1,764,703Total liabilities and capital
$1,638,533Total liabilities
$1,280,235Total deposits
$1,207,518Interest-bearing deposits
$1,280,235Deposits held in domestic offices
87.47%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$342,213Other borrowed funds
$7,145Subordinated debt
$8,940All other liabilities
$126,170Total equity capital
$126,170Total bank equity capital
$100,786Perpetual preferred stock
$29,500Common stock
$458Surplus
$78,620Undivided profits
Memoranda
$-7,792Noncurrent loans and leases
$132,370Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$25,384Income earned, not collected on loans
$45,300Earning assets
$0Long-term assets (5+ years)
$6,750Average Assets, year-to-date
$1,574,973Average Assets, quarterly
$0Volatile liabilities
$1,932,584Insider loans
$1,823,522FHLB advances
$719,240Loans and leases held for sale
$14,982Unused loan commitments
$342,213Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$132,370Total unused commitments
$229,658Restructured Loans and leases
$30,192Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$86,025Total interest income
$30,840Total interest expense
$55,185Net interest income
$39,990Provision for loan and lease losses
-$2,030Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$1,212Trading account gains & fees
-$3,242Additional noninterest income
$61,154Total noninterest expense
$23,099Salaries and employee benefits
$4,391Premises and equipment expense
$33,664Additional noninterest expense
-$47,989Pre-tax net operating income
$29,624Securities gains (losses)
-$6,731Applicable income taxes
-$11,634Income before extraordinary items
$0Extraordinary gains - net
-$12,812Net income attributable to bank
$1,178Net charge-offs
-$11,634Cash dividends
$55,860Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.95%Yield on earning assets
1.77%Cost of funding earning assets
3.17%Net interest margin
-0.12%Noninterest income to earning assets
3.52%Noninterest expense to earning assets
-1.58%Net operating income to assets
-0.66%Return on assets (ROA)
-1.01%Pretax return on assets
-12.44%Return on equity (ROE)
-12.44%Retained earnings to average equity (YTD only)
3.94%Net charge-offs to loans
71.59%Credit loss provision to net charge-offs
-0.14%Efficiency ratio
112,052Assets per employee
11.76%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.79%Loss allowance to noncurrent loans
51.15%Noncurrent assets plus other real estate owned to assets
4.98%Noncurrent loans to loans
3.50%Net loans and leases to deposits
99.20%Net loans and leases to core deposits
140.62%Equity capital to assets
5.71%Core capital (leverage) ratio
6.65%Tier 1 risk-based capital ratio
9.67%Total risk-based capital ratio
Memoranda
$12Average assets
$1,932,584Average earning assets
$102,980Average equity
$1,739,143Average loans
Total Fiduciary and Related Assets (December 31, 2010)
Dollar figures in thousands
$1Total fiduciary and related assets
1Number of Fiduciary Accounts and Related Asset Accounts
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