Preferred Bank, A FSB in Palmetto, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of November 22, 1996

  • Preferred Bank, A FSB in Palmetto, Florida (FL)
  • Show street view No street view available for this location

Preferred Bank, A FSB - Overview

  • General
  • FDIC Certificate #: 32522
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: SouthTrust Bank of Florida, National Association (#21679)
    Federal Reserve ID: 262675
    Date Established: Febuary 27, 1987
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    OTS Docket #: 8380
    FDIC's unique #: 45356
    Numeric code: 33
    Regulator: OTS
    Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
    FDIC Insured: Yes
    SAIF Insured: Yes
    Insured Savings Institution: Yes
    State Chartered: No
    Date of Deposit Insurance: Febuary 27, 1987
    Last Structure Change Effective Date: November 22, 1996
    Last Structure Change Process Date: November 29, 1996
    Last Data Update: December 31, 1996
    Data Source Date: April 05, 2012
  • Location
  • Address: 510 7th Street West, Palmetto, FL 33561
    County: Manatee
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Tampa
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Sarasota-Bradenton, FL (#7510)
    Combined Statistical Area (CSA): Sarasota-Bradenton-Punta Gorda, FL (#494)
    Core Based Statistical Area (CBSA): North Port-Bradenton-Sarasota, FL (#35840)
    CBSA Metro Statistical Area: North Port-Bradenton-Sarasota, FL (#35840)
  • History of Changes
  • Merger - Without Assistance
    Corrections
  • Financial Summary
  • Total assets: $79.1 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
  • 0Total employees (full-time equivalent)
  • $26Total assets
  • $80,648Cash and due from depository institutions
  • $10,807Interest-bearing balances
  • $10,362Securities
  • $6,262Federal funds sold & reverse repurchase agreements
  • $0Net loans & leases
  • $60,109Loan loss allowance
  • $497Trading account assets
  • $0Bank premises and fixed assets
  • $1,773Other real estate owned
  • $24Goodwill and other intangibles
  • $1,673Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $80,648Total liabilities
  • $75,866Total deposits
  • $75,509Interest-bearing deposits
  • $73,381Deposits held in domestic offices
  • 75509.00%% insured (estimated)
  • $96Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $357Total equity capital
  • $357Total bank equity capital
  • $4,782Perpetual preferred stock
  • $0Common stock
  • $874Surplus
  • $3,144Undivided profits
  • Memoranda
  • $764Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $284Income earned, not collected on loans
  • $361Earning assets
  • $76,733Long-term assets (5+ years)
  • $0Average Assets, year-to-date
  • $75,168Average Assets, quarterly
  • $79,299Volatile liabilities
  • $8,905Insider loans
  • $421FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $1,477Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $4,782Total risk weighted assets
  • $44,781Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1995)

  • Dollar figures in thousands
  • $0Total interest income
  • $5,681Total interest expense
  • $3,217Net interest income
  • $2,464Provision for loan and lease losses
  • -$33Total noninterest income
  • $379Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $0Additional noninterest income
  • $379Total noninterest expense
  • $2,067Salaries and employee benefits
  • $996Premises and equipment expense
  • $400Additional noninterest expense
  • $671Pre-tax net operating income
  • $809Securities gains (losses)
  • $8Applicable income taxes
  • $317Income before extraordinary items
  • $500Extraordinary gains - net
  • $0Net income attributable to bank
  • $500Net charge-offs
  • $8Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1995)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 7.97%Cost of funding earning assets
  • 4.52%Net interest margin
  • 3.46%Noninterest income to earning assets
  • 0.53%Noninterest expense to earning assets
  • 2.90%Net operating income to assets
  • 0.66%Return on assets (ROA)
  • 0.67%Pretax return on assets
  • 1.09%Return on equity (ROE)
  • 11.03%Retained earnings to average equity (YTD only)
  • 11.03%Net charge-offs to loans
  • 0.01%Credit loss provision to net charge-offs
  • -412.50%Efficiency ratio
  • 72,705Assets per employee
  • 3.10%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.82%Loss allowance to noncurrent loans
  • 175.00%Noncurrent assets plus other real estate owned to assets
  • 0.38%Noncurrent loans to loans
  • 0.47%Net loans and leases to deposits
  • 79.61%Net loans and leases to core deposits
  • 90.25%Equity capital to assets
  • 5.93%Core capital (leverage) ratio
  • 5.93%Tier 1 risk-based capital ratio
  • 10.68%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $75,168Average earning assets
  • $4,532Average equity
  • $71,236Average loans

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