Net First National Bank in Boca Raton, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 01, 2002

  • Net First National Bank in Boca Raton, Florida (FL)
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Net First National Bank - Overview

  • General
  • FDIC Certificate #: 26652
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: Bank Leumi USA (#19842)
    Federal Reserve ID: 145835
    Date Established: April 21, 1986
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 1 (Interstate: No)
    FDIC's unique #: 35385
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: No
    Date of Deposit Insurance: April 21, 1986
    Last Structure Change Effective Date: March 01, 2002
    Last Structure Change Process Date: July 16, 2002
    Last Data Update: July 16, 2002
    Data Source Date: April 05, 2012
  • Location
  • Address: 5295 Town Center Road, Boca Raton, FL 33486
    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)
  • History of Changes
  • Absorption - Assisted
  • Financial Summary
  • Total assets: $37.2 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, 2001)

  • Dollar figures in thousands
  • 23Total employees (full-time equivalent)
  • $37,207Total assets
  • $1,458Cash and due from depository institutions
  • $0Interest-bearing balances
  • $4,901Securities
  • $4,880Federal funds sold & reverse repurchase agreements
  • $20,884Net loans & leases
  • $1,134Loan loss allowance
  • $0Trading account assets
  • $1,345Bank premises and fixed assets
  • $0Other real estate owned
  • $3,157Goodwill and other intangibles
  • $0Life insurance assets
  • $582All other assets
  • $37,207Total liabilities and capital
  • $32,080Total liabilities
  • $31,601Total deposits
  • $24,742Interest-bearing deposits
  • $31,601Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $479All other liabilities
  • $5,127Total equity capital
  • $5,127Total bank equity capital
  • $5,127Perpetual preferred stock
  • $0Common stock
  • $550Surplus
  • $10,936Undivided profits
  • Memoranda
  • $-6,359Noncurrent loans and leases
  • $341Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $2,501Earning assets
  • $451Long-term assets (5+ years)
  • $87Average Assets, year-to-date
  • $30,665Average Assets, quarterly
  • $5,812Volatile liabilities
  • $38,250Insider loans
  • $38,217FHLB advances
  • $2,755Loans and leases held for sale
  • $435Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $341Total unused commitments
  • $0Restructured Loans and leases
  • $330Derivatives

Income and Expense (December 31, 2001)

  • Dollar figures in thousands
  • $2,210Total interest income
  • $1,498Total interest expense
  • $712Net interest income
  • $1,192Provision for loan and lease losses
  • $1,626Total noninterest income
  • $0Fiduciary activities
  • $26Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,600Additional noninterest income
  • $3,039Total noninterest expense
  • $1,349Salaries and employee benefits
  • $536Premises and equipment expense
  • $1,154Additional noninterest expense
  • -$1,893Pre-tax net operating income
  • $26Securities gains (losses)
  • $0Applicable income taxes
  • -$1,867Income before extraordinary items
  • $0Extraordinary gains - net
  • -$1,867Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $806Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2001)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.91%Yield on earning assets
  • 4.68%Cost of funding earning assets
  • 2.23%Net interest margin
  • 5.09%Noninterest income to earning assets
  • 9.50%Noninterest expense to earning assets
  • -4.95%Net operating income to assets
  • -4.88%Return on assets (ROA)
  • -4.88%Pretax return on assets
  • -29.00%Return on equity (ROE)
  • -29.00%Retained earnings to average equity (YTD only)
  • 4.12%Net charge-offs to loans
  • 147.89%Credit loss provision to net charge-offs
  • -0.87%Efficiency ratio
  • 122,926Assets per employee
  • 1.62%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 5.15%Loss allowance to noncurrent loans
  • 45.34%Noncurrent assets plus other real estate owned to assets
  • 6.72%Noncurrent loans to loans
  • 11.36%Net loans and leases to deposits
  • 66.09%Net loans and leases to core deposits
  • 72.40%Equity capital to assets
  • 13.78%Core capital (leverage) ratio
  • 6.22%Tier 1 risk-based capital ratio
  • 8.90%Total risk-based capital ratio
  • Memoranda
  • $10Average assets
  • $38,250Average earning assets
  • $6,439Average equity
  • $31,976Average loans

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