Progress Bank of Florida in Tampa, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 22, 2010

  • Progress Bank of Florida in Tampa, Florida (FL)
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Progress Bank of Florida - Overview

  • General
  • FDIC Certificate #: 32251
    Status: Inactive
    Closing history: Absorption - Assisted
    Acquiring institution: Bay Cities Bank (#35066)
    Federal Reserve ID: 761178
    Date Established: October 25, 1984
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 3 (Interstate: No)
    OTS Docket #: 8051
    FDIC's unique #: 45085
    Numeric code: 13
    Regulator: FED
    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: October 25, 1984
    Last Structure Change Effective Date: October 22, 2010
    Last Structure Change Process Date: October 25, 2010
    Last Data Update: October 25, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 5537 Sheldon Road, Suite D, Tampa, FL 33615
    County: Hillsborough
    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): Tampa-St. Petersburg-Clearwater, FL (#8280)
    Core Based Statistical Area (CBSA): Tampa-St. Petersburg-Clearwater, FL (#45300)
    CBSA Metro Statistical Area: Tampa-St. Petersburg-Clearwater, FL (#45300)
  • Financial Summary
  • Total assets: $94.8 mil

1992 - 1999 Historical total assets, liabilities and capital ($ 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
  • 22Total employees (full-time equivalent)
  • $119,185Total assets
  • $10,642Cash and due from depository institutions
  • $8,851Interest-bearing balances
  • $0Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $101,843Net loans & leases
  • $7,419Loan loss allowance
  • $0Trading account assets
  • $3,124Bank premises and fixed assets
  • $30Other real estate owned
  • $223Goodwill and other intangibles
  • $0Life insurance assets
  • $3,323All other assets
  • $119,185Total liabilities and capital
  • $115,489Total liabilities
  • $107,892Total deposits
  • $101,991Interest-bearing deposits
  • $107,892Deposits held in domestic offices
  • 94.76%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $7,000Other borrowed funds
  • $0Subordinated debt
  • $597All other liabilities
  • $3,696Total equity capital
  • $3,696Total bank equity capital
  • $3,696Perpetual preferred stock
  • $0Common stock
  • $6,122Surplus
  • $11,966Undivided profits
  • Memoranda
  • $-14,392Noncurrent loans and leases
  • $5,646Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $17,447Earning assets
  • $0Long-term assets (5+ years)
  • $412Average Assets, year-to-date
  • $110,694Average Assets, quarterly
  • $7,516Volatile liabilities
  • $115,458Insider loans
  • $122,525FHLB advances
  • $38,898Loans and leases held for sale
  • $0Unused loan commitments
  • $7,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $270Total risk weighted assets
  • $5,645Total unused commitments
  • $0Restructured Loans and leases
  • $1,239Derivatives

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $6,464Total interest income
  • $3,693Total interest expense
  • $2,771Net interest income
  • $6,538Provision for loan and lease losses
  • -$92Total noninterest income
  • $0Fiduciary activities
  • $46Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$138Additional noninterest income
  • $3,994Total noninterest expense
  • $1,851Salaries and employee benefits
  • $730Premises and equipment expense
  • $1,413Additional noninterest expense
  • -$7,853Pre-tax net operating income
  • $0Securities gains (losses)
  • $274Applicable income taxes
  • -$8,127Income before extraordinary items
  • $0Extraordinary gains - net
  • -$8,127Net income attributable to bank
  • $0Net charge-offs
  • -$8,127Cash dividends
  • $370Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.99%Yield on earning assets
  • 3.42%Cost of funding earning assets
  • 2.57%Net interest margin
  • -0.09%Noninterest income to earning assets
  • 3.70%Noninterest expense to earning assets
  • -7.04%Net operating income to assets
  • -7.04%Return on assets (ROA)
  • -6.80%Pretax return on assets
  • -83.81%Return on equity (ROE)
  • -83.81%Retained earnings to average equity (YTD only)
  • 0.38%Net charge-offs to loans
  • 1767.03%Credit loss provision to net charge-offs
  • -3.55%Efficiency ratio
  • 147,966Assets per employee
  • 5.42%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 6.79%Loss allowance to noncurrent loans
  • 42.52%Noncurrent assets plus other real estate owned to assets
  • 14.66%Noncurrent loans to loans
  • 15.97%Net loans and leases to deposits
  • 94.39%Net loans and leases to core deposits
  • 134.01%Equity capital to assets
  • 3.10%Core capital (leverage) ratio
  • 2.86%Tier 1 risk-based capital ratio
  • 3.83%Total risk-based capital ratio
  • Memoranda
  • $5Average assets
  • $115,458Average earning assets
  • $9,697Average equity
  • $107,884Average loans

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