Nexity Bank in Birmingham, Alabama (AL)



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Nexity Bank
GeneralFDIC Certificate #: 19794
Status: Inactive
Closing history: Absorption - Assisted
Acquiring institution: AloStar Bank of Commerce (#59060)
Federal Reserve ID: 509231
Date Established: Febuary 22, 1968
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 1 (Interstate: No)
FDIC's unique #: 13588
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
State Chartered: Yes
Date of Deposit Insurance: Febuary 22, 1968
Last Structure Change Effective Date: April 15, 2011
Last Structure Change Process Date: April 18, 2011
Last Data Update: April 18, 2011
Data Source Date: April 05, 2012
LocationAddress: 3680 Grandview Parkway, Suite 200, Birmingham, AL 35243
County: Jefferson
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Shelby
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Birmingham, AL (#1000)
Combined Statistical Area (CSA): Birmingham-Hoover-Cullman, AL (#142)
Core Based Statistical Area (CBSA): Birmingham-Hoover, AL (#13820)
CBSA Metro Statistical Area: Birmingham-Hoover, AL (#13820)
Financial SummaryTotal assets: $757.6 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, 2010)
(Dollar figures in thousands)
Total employees (full-time equivalent)81
Total assets$793,704
Cash and due from depository institutions$107,771
Interest-bearing balances$107,352
Securities$241,119
Federal funds sold & reverse repurchase agreements$829
Net loans & leases$349,031
Loan loss allowance $11,124
Trading account assets$0
Bank premises and fixed assets$10,076
Other real estate owned$53,262
Goodwill and other intangibles$0
All other assets$31,616
Life insurance assets$18,688
Total liabilities and capital$793,704
Total liabilities$792,746
Total deposits$637,804
Interest-bearing deposits$579,827
Deposits held in domestic offices$637,804
% insured (estimated)99.03%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $150,000
Subordinated debt $250
All other liabilities $4,692
Total equity capital$958
Total bank equity capital$958
Perpetual preferred stock$958
Common stock$1,100
Surplus$3
Undivided profits $79,515
Memoranda
Noncurrent loans and leases $-79,660
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $15,783
Income earned, not collected on loans $0
Earning assets $60,704
Long-term assets (5+ years) $0
Average Assets, year-to-date $2,198
Average Assets, quarterly $698,331
Volatile liabilities $215,790
Insider loans $906,950
FHLB advances $853,275
Loans and leases held for sale $330,949
Unused loan commitments $784
Tier 1 (core) risk-based capital $150,000
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $15,783
Restructured Loans and leases $48
Derivatives$6,156
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Income and Expense (December 31, 2010)
(Dollar figures in thousands)
Total interest income $24,105
Total interest expense $16,185
Net interest income $7,920
Provision for loan and lease losses $11,475
Total noninterest income $1,213
Fiduciary activities $0
Service charges on deposit accounts $263
Trading account gains & fees $2,916
Additional noninterest income -$1,966
Total noninterest expense $23,125
Salaries and employee benefits $9,744
Premises and equipment expense $1,584
Additional noninterest expense $11,797
Pre-tax net operating income -$25,467
Securities gains (losses) $3,293
Applicable income taxes $274
Income before extraordinary items -$22,448
Extraordinary gains - net $0
Net income attributable to bank -$22,448
Net charge-offs $0
Cash dividends -$22,448
Sale, conversion, retirement of capital stock, net $22,699
Net operating income $0
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Performance and Condition Ratios (December 31, 2010)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets3.00%
Cost of funding earning assets 2.02%
Net interest margin 0.99%
Noninterest income to earning assets 0.15%
Noninterest expense to earning assets 2.88%
Net operating income to assets -2.84%
Return on assets (ROA) -2.48%
Pretax return on assets -2.44%
Return on equity (ROE) -106.53%
Retained earnings to average equity (YTD only) -106.53%
Net charge-offs to loans 5.10%
Credit loss provision to net charge-offs 50.55%
Efficiency ratio-0.62%
Assets per employee$253,203
Cash dividends to net income (YTD only)9.80%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 3.09%
Noncurrent assets plus other real estate owned to assets 18.32%
Noncurrent loans to loans 14.55%
Net loans and leases to deposits16.85%
Net loans and leases to core deposits 54.72%
Equity capital to assets 111.92%
Core capital (leverage) ratio 0.12%
Tier 1 risk-based capital ratio 0.72%
Total risk-based capital ratio 1.23%
Memoranda
Average assets$2
Average earning assets$906,950
Average equity $21,071
Average loans $802,828
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Total Fiduciary and Related Assets (December 31, 2010)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$132
Number of Accounts1
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts1
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$132
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
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