FDIC Certificate #: 27182 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Vanguard Bank & Trust Company (#11290) Federal Reserve ID: 1166695 Date Established: Febuary 22, 1988 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Interstate: No) OTS Docket #: 15602 FDIC's unique #: 39022 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Bank Insurance Fund (BIF) Bank Insurance Fund: Yes Insured commercial Banks: Yes FDIC Insured: Yes State Chartered: Yes Date of Deposit Insurance: Febuary 22, 1988 Last Structure Change Effective Date: October 31, 1999 Last Structure Change Process Date: December 15, 1999 Last Data Update: December 15, 1999 Data Source Date: April 05, 2012
Location
Address: 71 North Beal Parkway, Fort Walton Beach, FL 32548 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: $65.4 mil
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 1998)
Dollar figures in thousands
31Total employees (full-time equivalent)
$72,942Total assets
$3,520Cash and due from depository institutions
$0Interest-bearing balances
$5,249Securities
$12,325Federal funds sold & reverse repurchase agreements
$48,678Net loans & leases
$562Loan loss allowance
$0Trading account assets
$2,290Bank premises and fixed assets
$50Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$830All other assets
$72,942Total liabilities and capital
$66,391Total liabilities
$65,990Total deposits
$54,848Interest-bearing deposits
$65,990Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$401All other liabilities
$6,551Total equity capital
$6,551Total bank equity capital
$6,551Perpetual preferred stock
$0Common stock
$1,326Surplus
$1,326Undivided profits
Memoranda
$3,899Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,476Earning assets
$0Long-term assets (5+ years)
$623Average Assets, year-to-date
$66,252Average Assets, quarterly
$1,470Volatile liabilities
$68,466Insider loans
$72,826FHLB advances
$11,593Loans and leases held for sale
$127Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$13,010Total unused commitments
$0Restructured Loans and leases
$55,384Derivatives
Income and Expense (December 31, 1998)
Dollar figures in thousands
$5,703Total interest income
$2,786Total interest expense
$2,917Net interest income
$407Provision for loan and lease losses
$309Total noninterest income
$0Fiduciary activities
$254Service charges on deposit accounts
$0Trading account gains & fees
$55Additional noninterest income
$1,918Total noninterest expense
$1,104Salaries and employee benefits
$313Premises and equipment expense
$501Additional noninterest expense
$901Pre-tax net operating income
$0Securities gains (losses)
$377Applicable income taxes
$524Income before extraordinary items
$0Extraordinary gains - net
$524Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$620Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 1998)
Dollar figures in thousands
Performance Ratios (%, annualized)
9.14%Yield on earning assets
4.47%Cost of funding earning assets
4.68%Net interest margin
0.50%Noninterest income to earning assets
3.07%Noninterest expense to earning assets
0.77%Net operating income to assets
0.77%Return on assets (ROA)
1.32%Pretax return on assets
8.48%Return on equity (ROE)
8.48%Retained earnings to average equity (YTD only)
1.34%Net charge-offs to loans
65.65%Credit loss provision to net charge-offs
2.11%Efficiency ratio
59,454Assets per employee
2.35%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.14%Loss allowance to noncurrent loans
38.08%Noncurrent assets plus other real estate owned to assets
2.09%Noncurrent loans to loans
3.00%Net loans and leases to deposits
73.77%Net loans and leases to core deposits
89.49%Equity capital to assets
8.98%Core capital (leverage) ratio
8.85%Tier 1 risk-based capital ratio
11.83%Total risk-based capital ratio
Memoranda
$13Average assets
$68,466Average earning assets
$6,181Average equity
$62,385Average loans
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