Public Bank in Saint Cloud, Florida (FL)



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Public Bank
GeneralFDIC Certificate #: 23410
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Florida Choice Bank (#34954)
Federal Reserve ID: 881339
Date Established: May 05, 1981
WWW: http://www.publicbank.org
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 8 (Interstate: No)
OTS Docket #: 15995
FDIC's unique #: 16411
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: May 05, 1981
Last Structure Change Effective Date: June 15, 2007
Last Structure Change Process Date: July 02, 2007
Last Data Update: July 02, 2007
Data Source Date: April 05, 2012
LocationAddress: 2500 13th Street, Saint Cloud, FL 34769
County: Osceola
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): Orlando, FL (#5960)
Combined Statistical Area (CSA): Orlando-Deltona-Daytona Beach, FL (#422)
Core Based Statistical Area (CBSA): Orlando-Kissimmee-Sanford, FL (#36740)
CBSA Metro Statistical Area: Orlando-Kissimmee-Sanford, FL (#36740)
Financial SummaryTotal assets: $431.9 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, 2006)
(Dollar figures in thousands)
Total employees (full-time equivalent)112
Total assets$424,008
Cash and due from depository institutions$11,271
Interest-bearing balances$261
Securities$71,924
Federal funds sold & reverse repurchase agreements$3,200
Net loans & leases$316,413
Loan loss allowance $3,889
Trading account assets$0
Bank premises and fixed assets$10,579
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$10,621
Life insurance assets$3,812
Total liabilities and capital$424,008
Total liabilities$389,253
Total deposits$320,081
Interest-bearing deposits$276,257
Deposits held in domestic offices$320,081
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $23,605
Trading liabilities$0
Other borrowed funds $42,000
Subordinated debt $0
All other liabilities $3,567
Total equity capital$34,755
Total bank equity capital$34,755
Perpetual preferred stock$34,755
Common stock$0
Surplus$1,158
Undivided profits $4,540
Memoranda
Noncurrent loans and leases $29,057
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $88,651
Income earned, not collected on loans $0
Earning assets $292
Long-term assets (5+ years) $0
Average Assets, year-to-date $2,014
Average Assets, quarterly $391,798
Volatile liabilities $74,098
Insider loans $404,797
FHLB advances $420,511
Loans and leases held for sale $115,626
Unused loan commitments $1,033
Tier 1 (core) risk-based capital $42,000
Tier 2 risk-based capital $1,324
Total risk weighted assets $1,145
Total unused commitments $88,651
Restructured Loans and leases $0
Derivatives$3,889
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Income and Expense (December 31, 2006)
(Dollar figures in thousands)
Total interest income $27,241
Total interest expense $10,962
Net interest income $16,279
Provision for loan and lease losses $160
Total noninterest income $2,574
Fiduciary activities $0
Service charges on deposit accounts $1,261
Trading account gains & fees $0
Additional noninterest income $1,313
Total noninterest expense $8,340
Salaries and employee benefits $5,191
Premises and equipment expense $1,199
Additional noninterest expense $1,950
Pre-tax net operating income $10,353
Securities gains (losses) $0
Applicable income taxes $3,876
Income before extraordinary items $6,477
Extraordinary gains - net $0
Net income attributable to bank $6,477
Net charge-offs $0
Cash dividends $0
Sale, conversion, retirement of capital stock, net -$11
Net operating income $3,100
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Performance and Condition Ratios (December 31, 2006)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets7.30%
Cost of funding earning assets 2.94%
Net interest margin 4.36%
Noninterest income to earning assets 0.69%
Noninterest expense to earning assets 2.23%
Net operating income to assets 1.60%
Return on assets (ROA) 1.60%
Pretax return on assets 2.56%
Return on equity (ROE) 19.75%
Retained earnings to average equity (YTD only) 10.30%
Net charge-offs to loans -0.00%
Credit loss provision to net charge-offs -1454.55%
Efficiency ratio0.00%
Assets per employee$44,237
Cash dividends to net income (YTD only)3.79%
Condition Ratios (%)
Loss allowance to loans 47.86%
Loss allowance to noncurrent loans 1.21%
Noncurrent assets plus other real estate owned to assets 1331.85%
Noncurrent loans to loans 0.07%
Net loans and leases to deposits0.09%
Net loans and leases to core deposits 98.85%
Equity capital to assets 125.03%
Core capital (leverage) ratio 8.20%
Tier 1 risk-based capital ratio 8.52%
Total risk-based capital ratio 10.52%
Memoranda
Average assets$12
Average earning assets$404,797
Average equity $32,792
Average loans $373,193
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