Northern Trust Bank of Vero Beach in Vero Beach, Florida (FL)

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Northern Trust Bank of Vero Beach
GeneralFDIC Certificate #: 19606
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Northern Trust, National Association (#24185)
Federal Reserve ID: 575937
Date Established: July 11, 1966
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Interstate: No)
FDIC's unique #: 13405
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: July 11, 1966
Last Structure Change Effective Date: March 22, 1996
Last Structure Change Process Date: April 11, 1996
Last Data Update: April 11, 1996
Data Source Date: April 05, 2012
LocationAddress: 755 Beachland Boulevard, Vero Beach, FL 32960
County: Indian River
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
Combined Statistical Area (CSA): Port St. Lucie-Sebastian-Vero Beach, FL (#442)
Core Based Statistical Area (CBSA): Sebastian-Vero Beach, FL (#42680)
CBSA Metro Statistical Area: Sebastian-Vero Beach, FL (#42680)
Financial SummaryTotal assets: $199.1 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$79
Cash and due from depository institutions$199,068
Interest-bearing balances$10,463
Federal funds sold & reverse repurchase agreements$67,248
Net loans & leases$19,052
Loan loss allowance $95,252
Trading account assets$893
Bank premises and fixed assets$0
Other real estate owned$4,303
Goodwill and other intangibles$635
All other assets$0
Life insurance assets$2,115
Total liabilities and capital$0
Total liabilities$199,068
Total deposits$177,962
Interest-bearing deposits$176,672
Deposits held in domestic offices$154,899
% insured (estimated)176672.00%
Federal funds purchased & repurchase agreements $87
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $0
Total equity capital$1,290
Total bank equity capital$1,290
Perpetual preferred stock$21,106
Common stock$0
Undivided profits $9,128
Noncurrent loans and leases $11,484
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $1,709
Earning assets $584
Long-term assets (5+ years) $181,552
Average Assets, year-to-date $9,510
Average Assets, quarterly $196,922
Volatile liabilities $192,822
Insider loans $12,558
FHLB advances $48
Loans and leases held for sale $0
Unused loan commitments $0
Tier 1 (core) risk-based capital $13,689
Tier 2 risk-based capital $0
Total risk weighted assets $20,892
Total unused commitments $87,283
Restructured Loans and leases $0
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Income and Expense (December 31, 1995)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $12,949
Net interest income $5,465
Provision for loan and lease losses $7,484
Total noninterest income $134
Fiduciary activities $3,341
Service charges on deposit accounts $2,862
Trading account gains & fees $282
Additional noninterest income $0
Total noninterest expense $197
Salaries and employee benefits $6,599
Premises and equipment expense $3,698
Additional noninterest expense $826
Pre-tax net operating income $2,075
Securities gains (losses) $4,092
Applicable income taxes -$411
Income before extraordinary items $1,451
Extraordinary gains - net $2,230
Net income attributable to bank $0
Net charge-offs $2,230
Cash dividends $381
Sale, conversion, retirement of capital stock, net $6,350
Net operating income $0
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Performance and Condition Ratios (December 31, 1995)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 7.16%
Net interest margin 3.02%
Noninterest income to earning assets 4.14%
Noninterest expense to earning assets 1.85%
Net operating income to assets 3.65%
Return on assets (ROA) 1.27%
Pretax return on assets 1.13%
Return on equity (ROE) 1.87%
Retained earnings to average equity (YTD only) 9.80%
Net charge-offs to loans -18.11%
Credit loss provision to net charge-offs 0.38%
Efficiency ratio35.17%
Assets per employee$60,961
Cash dividends to net income (YTD only)2.52%
Condition Ratios (%)
Loss allowance to loans 284.75%
Loss allowance to noncurrent loans 0.93%
Noncurrent assets plus other real estate owned to assets 52.25%
Noncurrent loans to loans 1.18%
Net loans and leases to deposits1.78%
Net loans and leases to core deposits 53.91%
Equity capital to assets 58.04%
Core capital (leverage) ratio 10.60%
Tier 1 risk-based capital ratio 10.80%
Total risk-based capital ratio 23.94%
Average assets$25
Average earning assets$196,922
Average equity $22,744
Average loans $180,891
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