Paradise Bank in Boca Raton, Florida (FL)

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Paradise Bank routing number info

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Paradise Bank
GeneralFDIC Certificate #: 58030
Status: Active
Federal Reserve ID: 3368635
Date Established: July 25, 2005
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 3 (Domestic: 3, Interstate: No)
FDIC's unique #: 434100
Numeric code: 13
Regulator: FED
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: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: July 25, 2005
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
LocationAddress: 2420 North Federal Highway, Boca Raton, FL 33431
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 ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $284.8 mil
Equity capital: $24.2 mil
Deposits held in domestic offices: $257.0 mil
Return on assets (ROA): 0.71% ($2.0 mil)
Quarterly return on assets: 0.89% ($2.5 mil)
Return on Equity (ROE): 9.47% ($2.3 mil)
Quarterly return on equity: 10.58% ($2.5 mil)
Net income: $2.1 mil
Quarterly Net income: $0.6 mil
Pretax return on assets: 0.71% ($2,021.7 mil)
Quarterly Pretax return on assets: 0.89% ($2,534.3 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)
Total employees (full-time equivalent)38
Total assets$284,753
Cash and due from depository institutions$39,536
Interest-bearing balances$36,990
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$211,777
Loan loss allowance $5,804
Trading account assets$0
Bank premises and fixed assets$8,028
Other real estate owned$1,014
Goodwill and other intangibles$459
All other assets$3,690
Life insurance assets$284,753
Total liabilities and capital$260,508
Total liabilities$256,958
Total deposits$197,733
Interest-bearing deposits$256,958
Deposits held in domestic offices$88
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $2,500
Subordinated debt $1,050
All other liabilities $24,245
Total equity capital$24,245
Total bank equity capital$24,245
Perpetual preferred stock$0
Common stock$17,815
Undivided profits $-9,223
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $1,741
Earning assets $0
Long-term assets (5+ years) $761
Average Assets, year-to-date $269,016
Average Assets, quarterly $46,538
Volatile liabilities $298,383
Insider loans $286,365
FHLB advances $214,386
Loans and leases held for sale $291,376
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $23,918
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $16,217
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $13,072
Total interest expense $2,572
Net interest income $10,500
Provision for loan and lease losses $1,551
Total noninterest income $999
Fiduciary activities $0
Service charges on deposit accounts $258
Trading account gains & fees $0
Additional noninterest income $741
Total noninterest expense $8,166
Salaries and employee benefits $3,767
Premises and equipment expense $1,861
Additional noninterest expense $2,538
Pre-tax net operating income $1,782
Securities gains (losses) $332
Applicable income taxes $0
Income before extraordinary items $2,114
Extraordinary gains - net $0
Net income attributable to bank $2,114
Net charge-offs $0
Cash dividends $2,114
Sale, conversion, retirement of capital stock, net $2,961
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.64%
Cost of funding earning assets 0.91%
Net interest margin 3.73%
Noninterest income to earning assets 0.35%
Noninterest expense to earning assets 2.90%
Net operating income to assets 0.60%
Return on assets (ROA) 0.71%
Pretax return on assets 0.71%
Return on equity (ROE) 9.47%
Retained earnings to average equity (YTD only) 9.47%
Net charge-offs to loans 1.27%
Credit loss provision to net charge-offs 52.38%
Efficiency ratio1.13%
Assets per employee$71,015
Cash dividends to net income (YTD only)7.49%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.67%
Noncurrent assets plus other real estate owned to assets 333.37%
Noncurrent loans to loans 0.97%
Net loans and leases to deposits0.80%
Net loans and leases to core deposits 82.42%
Equity capital to assets 86.71%
Core capital (leverage) ratio 8.51%
Tier 1 risk-based capital ratio 8.21%
Total risk-based capital ratio 11.16%
Average assets$14
Average earning assets$298,383
Average equity $22,321
Average loans $281,677
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3 Florida Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0434100Paradise Bank2420 North Federal Highway, Boca Raton, FL 33431July 25, 2005Full Service Brick and Mortar
1454711Ft Lauderdale Office Branch540 North Federal Highway, Fort Lauderdale, FL 33301April 27, 2006Full Service Brick and Mortar
2492734Delray Beach Office Branch1351 N Federal Highway, Delray Beach, FL 33483Febuary 23, 2009Full Service Brick and Mortar
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