Prime Bank in Melbourne, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of May 01, 2010

Prime Bank - Overview

  • General
  • FDIC Certificate #: 57832
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Florida Bank of Commerce (#58081)
    Federal Reserve ID: 3309768
    Date Established: December 13, 2004
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Interstate: No)
    FDIC's unique #: 427083
    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: December 13, 2004
    Last Structure Change Effective Date: May 01, 2010
    Last Structure Change Process Date: June 04, 2010
    Last Data Update: June 04, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 5770 North Wickham Road, Melbourne, FL 32940
    County: Brevard
    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): Melbourne-Titusville-Palm Bay, FL (#4900)
    Core Based Statistical Area (CBSA): Palm Bay-Melbourne-Titusville, FL (#37340)
    CBSA Metro Statistical Area: Palm Bay-Melbourne-Titusville, FL (#37340)
  • Financial Summary
  • Total assets: $77.8 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, 2009)

  • Dollar figures in thousands
  • 15Total employees (full-time equivalent)
  • $72,384Total assets
  • $5,087Cash and due from depository institutions
  • $4,333Interest-bearing balances
  • $5,289Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $53,972Net loans & leases
  • $769Loan loss allowance
  • $0Trading account assets
  • $3,703Bank premises and fixed assets
  • $242Other real estate owned
  • $2,485Goodwill and other intangibles
  • $0Life insurance assets
  • $1,606All other assets
  • $72,384Total liabilities and capital
  • $62,571Total liabilities
  • $62,025Total deposits
  • $52,146Interest-bearing deposits
  • $62,025Deposits held in domestic offices
  • 88.15%% insured (estimated)
  • $450Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $96All other liabilities
  • $9,813Total equity capital
  • $9,813Total bank equity capital
  • $9,813Perpetual preferred stock
  • $0Common stock
  • $3,767Surplus
  • $6,130Undivided profits
  • Memoranda
  • $-84Noncurrent loans and leases
  • $8,207Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $1,162Earning assets
  • $0Long-term assets (5+ years)
  • $225Average Assets, year-to-date
  • $63,594Average Assets, quarterly
  • $11,126Volatile liabilities
  • $69,557Insider loans
  • $74,085FHLB advances
  • $18,606Loans and leases held for sale
  • $1,967Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $8,207Total unused commitments
  • $2,461Restructured Loans and leases
  • $769Derivatives

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $3,166Total interest income
  • $1,067Total interest expense
  • $2,099Net interest income
  • $225Provision for loan and lease losses
  • $129Total noninterest income
  • $0Fiduciary activities
  • $71Service charges on deposit accounts
  • $0Trading account gains & fees
  • $58Additional noninterest income
  • $2,037Total noninterest expense
  • $983Salaries and employee benefits
  • $275Premises and equipment expense
  • $779Additional noninterest expense
  • -$34Pre-tax net operating income
  • $71Securities gains (losses)
  • $30Applicable income taxes
  • $7Income before extraordinary items
  • $0Extraordinary gains - net
  • $7Net income attributable to bank
  • $0Net charge-offs
  • $7Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.37%Yield on earning assets
  • 1.81%Cost of funding earning assets
  • 3.56%Net interest margin
  • 0.22%Noninterest income to earning assets
  • 3.46%Noninterest expense to earning assets
  • -0.06%Net operating income to assets
  • 0.01%Return on assets (ROA)
  • 0.05%Pretax return on assets
  • 0.07%Return on equity (ROE)
  • 0.07%Retained earnings to average equity (YTD only)
  • 0.00%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 90,619Assets per employee
  • 4.83%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.40%Loss allowance to noncurrent loans
  • 66.18%Noncurrent assets plus other real estate owned to assets
  • 1.94%Noncurrent loans to loans
  • 2.12%Net loans and leases to deposits
  • 87.02%Net loans and leases to core deposits
  • 123.03%Equity capital to assets
  • 13.56%Core capital (leverage) ratio
  • 9.33%Tier 1 risk-based capital ratio
  • 10.66%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $69,557Average earning assets
  • $9,828Average equity
  • $58,933Average loans

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