Ocean Bank in Miami, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches


Ocean Bank - Overview

  • General
  • FDIC Certificate #: 24156
    Status: Active
    Federal Reserve ID: 663834
    Bank Holding Company (Regulatory Top Holder): Ocean Bankshares, Inc. (RSSDID: 1136661, Location: Miami, FL)
    Date Established: December 09, 1982
    WWW: http://www.oceanbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 21 (Domestic: 21, Interstate: No)
    FDIC's unique #: 16824
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: December 09, 1982
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 780 N.W. 42nd Avenue, Miami, FL 33126
    County: Miami-Dade
    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): Miami, FL (#5000)
    Consolidated Metropolitan Statistical Area (CMSA): Miami-Fort Lauderdale, FL (#56)
    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: Miami-Miami Beach-Kendall, FL (#33124)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $3,249.7 mil
    Equity capital: $167.6 mil
    Deposits held in domestic offices: $3,056.2 mil
    Return on assets (ROA): -0.54% (-$17.6 mil)
    Quarterly return on assets: 0.39% ($12.7 mil)
    Return on Equity (ROE): -11.45% (-$19.2 mil)
    Quarterly return on equity: 7.84% ($13.2 mil)
    Net income: -$18.7 mil
    Quarterly Net income: $3.3 mil
    Pretax return on assets: -0.55% (-$17,873.5 mil)
    Quarterly Pretax return on assets: 0.32% ($10,399.1 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, 2011)

  • Dollar figures in thousands
  • 652Total employees (full-time equivalent)
  • $3,249,730Total assets
  • $254,728Cash and due from depository institutions
  • $230,384Interest-bearing balances
  • $675,367Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $2,092,653Net loans & leases
  • $49,938Loan loss allowance
  • $0Trading account assets
  • $36,253Bank premises and fixed assets
  • $85,611Other real estate owned
  • $161Goodwill and other intangibles
  • $3,249,730Life insurance assets
  • $104,957All other assets
  • $3,082,162Total liabilities and capital
  • $3,056,219Total liabilities
  • $2,974,521Total deposits
  • $3,056,219Interest-bearing deposits
  • $81Deposits held in domestic offices
  • 2044.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $2,975Trading liabilities
  • $0Other borrowed funds
  • $20,924Subordinated debt
  • $167,568All other liabilities
  • $167,568Total equity capital
  • $167,568Total bank equity capital
  • $0Perpetual preferred stock
  • $8,500Common stock
  • $150,519Surplus
  • $8,549Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $69,567Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $191,780Income earned, not collected on loans
  • $161Earning assets
  • $9,530Long-term assets (5+ years)
  • $2,998,404Average Assets, year-to-date
  • $354,454Average Assets, quarterly
  • $3,472,354Volatile liabilities
  • $3,324,974Insider loans
  • $2,060,021FHLB advances
  • $3,348,894Loans and leases held for sale
  • $84,329Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $166,585Tier 2 risk-based capital
  • $10,794Total risk weighted assets
  • $73,535Total unused commitments
  • $133,846Restructured Loans and leases
  • $7,913Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $145,502Total interest income
  • $28,238Total interest expense
  • $117,264Net interest income
  • $16,209Provision for loan and lease losses
  • -$23,408Total noninterest income
  • $0Fiduciary activities
  • $11,899Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$35,307Additional noninterest income
  • $104,594Total noninterest expense
  • $46,582Salaries and employee benefits
  • $12,169Premises and equipment expense
  • $45,843Additional noninterest expense
  • -$26,947Pre-tax net operating income
  • $7,977Securities gains (losses)
  • -$251Applicable income taxes
  • -$18,719Income before extraordinary items
  • $0Extraordinary gains - net
  • -$18,719Net income attributable to bank
  • $0Net charge-offs
  • -$18,719Cash dividends
  • $27,725Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.57%Yield on earning assets
  • 0.89%Cost of funding earning assets
  • 3.68%Net interest margin
  • -0.73%Noninterest income to earning assets
  • 3.28%Noninterest expense to earning assets
  • -0.77%Net operating income to assets
  • -0.54%Return on assets (ROA)
  • -0.55%Pretax return on assets
  • -11.45%Return on equity (ROE)
  • -11.45%Retained earnings to average equity (YTD only)
  • 1.19%Net charge-offs to loans
  • 58.46%Credit loss provision to net charge-offs
  • -0.39%Efficiency ratio
  • 111,441Assets per employee
  • 4.98%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.33%Loss allowance to noncurrent loans
  • 26.04%Noncurrent assets plus other real estate owned to assets
  • 8.54%Noncurrent loans to loans
  • 8.95%Net loans and leases to deposits
  • 68.47%Net loans and leases to core deposits
  • 79.64%Equity capital to assets
  • 5.16%Core capital (leverage) ratio
  • 4.97%Tier 1 risk-based capital ratio
  • 8.09%Total risk-based capital ratio
  • Memoranda
  • $9Average assets
  • $3,472,354Average earning assets
  • $163,492Average equity
  • $3,186,393Average loans

List of branches

  • 21 Florida Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    016824Ocean Bank780 N.W. 42nd Avenue, Miami, FL 33126December 09, 1982Full Service Brick and Mortar
    1256984Bird Road Branch7951 S.W. 40th Street, Miami, FL 33140August 19, 1985Full Service Brick and Mortar
    2256985Palm Spring Branch790 West 49th Street, Hialeah, FL 33012November 18, 1985Full Service Brick and Mortar
    3256986West Flagler Branch8700 West Flagler Street, Miami, FL 33144December 08, 1986Full Service Brick and Mortar
    417491Hialeah Branch1801 West Fourth Avenue, Hialeah, FL 33010July 19, 1984Full Service Brick and Mortar
    5256987Brickell Branch1000 Brickell Avenue, Miami, FL 33126August 17, 1987Full Service Brick and Mortar
    6256988Coral Way Branch12005 26th Street, S.W., Miami, FL 33175October 07, 1987Full Service Brick and Mortar
    7256989Eighth Street Branch6600 S.W. 8th Street, West Miami, FL 33144December 09, 1992Full Service Brick and Mortar
    8256990Coral Gables Branch2655 Le Jeune Road, Coral Gables, FL 33134December 09, 1993Full Service Brick and Mortar
    9256991Airport West Branch7650 N.W. 25th Street, Miami, FL 33122Febuary 06, 1995Full Service Brick and Mortar
    10256992Miami Lakes Branch7455 Miami Lakes Drive, Miami Lakes, FL 33014June 23, 1997Full Service Brick and Mortar
    11256993Miami Beach Branch501 41st Street, Miami Beach, FL 33140April 21, 1997Full Service Brick and Mortar
    12256994Downtown Miami Branch200 Southeast First Street, Miami, FL 33131October 27, 1997Full Service Brick and Mortar
    13256995Downtown Fort Lauderdale Branch200 Northeast 3rd Avenue, Fort Lauderdale, FL 33301July 27, 1998Full Service Brick and Mortar
    15256997Taft Street Branch6775 Taft Street, Hollywood, FL 33024Febuary 02, 1999Full Service Brick and Mortar
    17256999Embassy Lakes Branch2581 Hiatus Road, Cooper City, FL 33026Febuary 02, 1999Full Service Brick and Mortar
    18356661East Kendall Branch7880 Southwest 104 Street, Miami, FL 33156May 18, 2000Full Service Brick and Mortar
    20359708Miller Branch14702 Southwest 56th Street, Miami, FL 33175March 30, 2001Full Service Brick and Mortar
    21365331Weston Branch2700 South Commerce Parkway, Suite 100, Weston, FL 33326May 02, 2002Full Service Brick and Mortar
    22419488Kendall Drive Branch10950 North Kendall Drive, Miami, FL 33176June 23, 2003Full Service Brick and Mortar
    23514896Doral Branch2500 N.W. 97th Avenue, Suite 100, Doral, FL 33172October 22, 2010Full Service Brick and Mortar

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