Prime Bank of Central Florida in Titusville, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 07, 1998

Prime Bank of Central Florida in Titusville, Florida (FL)
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Prime Bank of Central Florida - Overview

General
FDIC Certificate #: 32545
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Colonial Bank (#9609)
Federal Reserve ID: 998170
Date Established: June 30, 1987
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Interstate: No)
OTS Docket #: 8418
FDIC's unique #: 45379
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Savings Association Insurance Fund (SAIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
SAIF Insured: Yes
State Chartered: Yes
Date of Deposit Insurance: June 30, 1987
Last Structure Change Effective Date: October 07, 1998
Last Structure Change Process Date: October 29, 1998
Last Data Update: October 29, 1998
Data Source Date: April 05, 2012
Location
Address: 690 Country Club Drive, Titusville, FL 32780
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: $74.5 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1997)

Dollar figures in thousands
28Total employees (full-time equivalent)
$68,295Total assets
$6,248Cash and due from depository institutions
$238Interest-bearing balances
$15,571Securities
$1,550Federal funds sold & reverse repurchase agreements
$42,039Net loans & leases
$445Loan loss allowance
$0Trading account assets
$2,370Bank premises and fixed assets
$0Other real estate owned
$50Goodwill and other intangibles
$0Life insurance assets
$467All other assets
$68,295Total liabilities and capital
$61,845Total liabilities
$61,375Total deposits
$49,139Interest-bearing deposits
$61,375Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$470All other liabilities
$6,450Total equity capital
$6,450Total bank equity capital
$6,450Perpetual preferred stock
$0Common stock
$400Surplus
$3,771Undivided profits
Memoranda
$2,279Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$27Earning assets
$0Long-term assets (5+ years)
$203Average Assets, year-to-date
$59,398Average Assets, quarterly
$9,335Volatile liabilities
$63,546Insider loans
$66,273FHLB advances
$5,019Loans and leases held for sale
$1,106Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$8,575Total unused commitments
$0Restructured Loans and leases
$46,669Derivatives

Income and Expense (December 31, 1997)

Dollar figures in thousands
$4,835Total interest income
$2,072Total interest expense
$2,763Net interest income
$72Provision for loan and lease losses
$400Total noninterest income
$0Fiduciary activities
$291Service charges on deposit accounts
$0Trading account gains & fees
$109Additional noninterest income
$1,990Total noninterest expense
$1,001Salaries and employee benefits
$389Premises and equipment expense
$600Additional noninterest expense
$1,101Pre-tax net operating income
$3Securities gains (losses)
$408Applicable income taxes
$696Income before extraordinary items
$0Extraordinary gains - net
$696Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$28Sale, conversion, retirement of capital stock, net
$0Net operating income

Performance and Condition Ratios (December 31, 1997)

Dollar figures in thousands
Performance Ratios (%, annualized)
8.39%Yield on earning assets
3.60%Cost of funding earning assets
4.80%Net interest margin
0.69%Noninterest income to earning assets
3.45%Noninterest expense to earning assets
1.09%Net operating income to assets
1.10%Return on assets (ROA)
1.74%Pretax return on assets
11.48%Return on equity (ROE)
11.48%Retained earnings to average equity (YTD only)
0.07%Net charge-offs to loans
257.14%Credit loss provision to net charge-offs
41.89%Efficiency ratio
62,219Assets per employee
2.44%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.05%Loss allowance to noncurrent loans
1648.15%Noncurrent assets plus other real estate owned to assets
0.04%Noncurrent loans to loans
0.06%Net loans and leases to deposits
68.50%Net loans and leases to core deposits
74.60%Equity capital to assets
9.44%Core capital (leverage) ratio
9.80%Tier 1 risk-based capital ratio
13.70%Total risk-based capital ratio
Memoranda
$15Average assets
$63,546Average earning assets
$6,061Average equity
$57,613Average loans

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