Premier Community Bank of the Emerald Coast - Overview
General
FDIC Certificate #: 58343 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:Summit Bank, National Association (#58786) Federal Reserve ID: 3469448 Date Established: September 05, 2006 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Interstate: No) FDIC's unique #: 446823 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: September 05, 2006 Last Structure Change Effective Date: December 16, 2011 Last Structure Change Process Date: December 19, 2011 Last Data Update: December 19, 2011 Data Source Date: April 05, 2012
Location
Address: 345 East James Lee Boulevard, Crestview, FL 32539 County: Okaloosa Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Pensacola Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast Metropolitan Statistical Area (MSA): Fort Walton Beach, FL (#2750) Core Based Statistical Area (CBSA): Crestview-Fort Walton Beach-Destin, FL (#18880) CBSA Metro Statistical Area: Crestview-Fort Walton Beach-Destin, FL (#18880)
Financial Summary
Total assets: $126.0 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2010)
Dollar figures in thousands
25Total employees (full-time equivalent)
$151,587Total assets
$8,874Cash and due from depository institutions
$6,809Interest-bearing balances
$17,611Securities
$1,438Federal funds sold & reverse repurchase agreements
$107,250Net loans & leases
$3,296Loan loss allowance
$0Trading account assets
$5,453Bank premises and fixed assets
$5,598Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$5,363All other assets
$151,587Total liabilities and capital
$139,640Total liabilities
$119,801Total deposits
$111,587Interest-bearing deposits
$119,801Deposits held in domestic offices
96.70%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$19,500Other borrowed funds
$0Subordinated debt
$339All other liabilities
$11,947Total equity capital
$11,947Total bank equity capital
$11,947Perpetual preferred stock
$0Common stock
$10,000Surplus
$10,557Undivided profits
Memoranda
$-8,610Noncurrent loans and leases
$8,643Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$11,320Earning assets
$0Long-term assets (5+ years)
$562Average Assets, year-to-date
$133,108Average Assets, quarterly
$24,075Volatile liabilities
$160,714Insider loans
$157,515FHLB advances
$3,380Loans and leases held for sale
$3,281Unused loan commitments
$19,500Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$8,643Total unused commitments
$3,898Restructured Loans and leases
$1,507Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$6,677Total interest income
$3,206Total interest expense
$3,471Net interest income
$6,057Provision for loan and lease losses
$372Total noninterest income
$0Fiduciary activities
$83Service charges on deposit accounts
$0Trading account gains & fees
$289Additional noninterest income
$3,738Total noninterest expense
$1,622Salaries and employee benefits
$420Premises and equipment expense
$1,696Additional noninterest expense
-$5,952Pre-tax net operating income
$0Securities gains (losses)
-$268Applicable income taxes
-$5,684Income before extraordinary items
$0Extraordinary gains - net
-$5,684Net income attributable to bank
$0Net charge-offs
-$5,684Cash dividends
$5,404Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.66%Yield on earning assets
2.24%Cost of funding earning assets
2.42%Net interest margin
0.26%Noninterest income to earning assets
2.61%Noninterest expense to earning assets
-3.54%Net operating income to assets
-3.54%Return on assets (ROA)
-3.70%Pretax return on assets
-34.67%Return on equity (ROE)
-34.67%Retained earnings to average equity (YTD only)
4.82%Net charge-offs to loans
112.08%Credit loss provision to net charge-offs
0.02%Efficiency ratio
97,268Assets per employee
6.06%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.98%Loss allowance to noncurrent loans
29.12%Noncurrent assets plus other real estate owned to assets
11.16%Noncurrent loans to loans
10.24%Net loans and leases to deposits
89.52%Net loans and leases to core deposits
92.12%Equity capital to assets
7.88%Core capital (leverage) ratio
6.71%Tier 1 risk-based capital ratio
8.65%Total risk-based capital ratio
Memoranda
$10Average assets
$160,714Average earning assets
$16,395Average equity
$143,401Average loans
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