Paradise Bank in Boca Raton, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

Paradise Bank - Overview

  • General
  • FDIC 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
  • Location
  • Address: 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 Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total 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
  • 38Total employees (full-time equivalent)
  • $284,753Total assets
  • $39,536Cash and due from depository institutions
  • $36,990Interest-bearing balances
  • $20,249Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $211,777Net loans & leases
  • $5,804Loan loss allowance
  • $0Trading account assets
  • $8,028Bank premises and fixed assets
  • $1,014Other real estate owned
  • $459Goodwill and other intangibles
  • $284,753Life insurance assets
  • $3,690All other assets
  • $260,508Total liabilities and capital
  • $256,958Total liabilities
  • $197,733Total deposits
  • $256,958Interest-bearing deposits
  • $88Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $2,500Other borrowed funds
  • $1,050Subordinated debt
  • $24,245All other liabilities
  • $24,245Total equity capital
  • $24,245Total bank equity capital
  • $0Perpetual preferred stock
  • $17,815Common stock
  • $15,653Surplus
  • $-9,223Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,741Income earned, not collected on loans
  • $0Earning assets
  • $761Long-term assets (5+ years)
  • $269,016Average Assets, year-to-date
  • $46,538Average Assets, quarterly
  • $298,383Volatile liabilities
  • $286,365Insider loans
  • $214,386FHLB advances
  • $291,376Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $23,918Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $16,217Restructured Loans and leases
  • $8,026Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $13,072Total interest income
  • $2,572Total interest expense
  • $10,500Net interest income
  • $1,551Provision for loan and lease losses
  • $999Total noninterest income
  • $0Fiduciary activities
  • $258Service charges on deposit accounts
  • $0Trading account gains & fees
  • $741Additional noninterest income
  • $8,166Total noninterest expense
  • $3,767Salaries and employee benefits
  • $1,861Premises and equipment expense
  • $2,538Additional noninterest expense
  • $1,782Pre-tax net operating income
  • $332Securities gains (losses)
  • $0Applicable income taxes
  • $2,114Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,114Net income attributable to bank
  • $0Net charge-offs
  • $2,114Cash dividends
  • $2,961Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.64%Yield on earning assets
  • 0.91%Cost of funding earning assets
  • 3.73%Net interest margin
  • 0.35%Noninterest income to earning assets
  • 2.90%Noninterest expense to earning assets
  • 0.60%Net operating income to assets
  • 0.71%Return on assets (ROA)
  • 0.71%Pretax return on assets
  • 9.47%Return on equity (ROE)
  • 9.47%Retained earnings to average equity (YTD only)
  • 1.27%Net charge-offs to loans
  • 52.38%Credit loss provision to net charge-offs
  • 1.13%Efficiency ratio
  • 71,015Assets per employee
  • 7.49%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.67%Loss allowance to noncurrent loans
  • 333.37%Noncurrent assets plus other real estate owned to assets
  • 0.97%Noncurrent loans to loans
  • 0.80%Net loans and leases to deposits
  • 82.42%Net loans and leases to core deposits
  • 86.71%Equity capital to assets
  • 8.51%Core capital (leverage) ratio
  • 8.21%Tier 1 risk-based capital ratio
  • 11.16%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $298,383Average earning assets
  • $22,321Average equity
  • $281,677Average loans

List of branches

  • 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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