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

This bank is inactive as of December 04, 2003

  • Sarasota Bank in Sarasota, Florida (FL)
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Sarasota Bank - Overview

  • General
  • FDIC Certificate #: 33644
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Colonial Bank (#9609)
    Federal Reserve ID: 1988730
    Date Established: September 15, 1992
    WWW: http://www.sarasotabank.com
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Interstate: No)
    FDIC's unique #: 47725
    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: September 15, 1992
    Last Structure Change Effective Date: December 04, 2003
    Last Structure Change Process Date: January 22, 2004
    Last Data Update: January 22, 2004
    Data Source Date: April 05, 2012
  • Location
  • Address: Two North Tamiami Trail, Sarasota, FL 34236
    County: Sarasota
    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): Sarasota-Bradenton, FL (#7510)
    Combined Statistical Area (CSA): Sarasota-Bradenton-Punta Gorda, FL (#494)
    Core Based Statistical Area (CBSA): North Port-Bradenton-Sarasota, FL (#35840)
    CBSA Metro Statistical Area: North Port-Bradenton-Sarasota, FL (#35840)
  • Financial Summary
  • Total assets: $187.0 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, 2002)

  • Dollar figures in thousands
  • 22Total employees (full-time equivalent)
  • $152,577Total assets
  • $4,074Cash and due from depository institutions
  • $200Interest-bearing balances
  • $32,398Securities
  • $3,298Federal funds sold & reverse repurchase agreements
  • $111,167Net loans & leases
  • $1,648Loan loss allowance
  • $0Trading account assets
  • $296Bank premises and fixed assets
  • $0Other real estate owned
  • $106Goodwill and other intangibles
  • $0Life insurance assets
  • $1,238All other assets
  • $152,577Total liabilities and capital
  • $140,754Total liabilities
  • $127,223Total deposits
  • $110,461Interest-bearing deposits
  • $127,223Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $6,182Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $7,000Other borrowed funds
  • $0Subordinated debt
  • $349All other liabilities
  • $11,823Total equity capital
  • $11,823Total bank equity capital
  • $11,823Perpetual preferred stock
  • $0Common stock
  • $2,125Surplus
  • $2,655Undivided profits
  • Memoranda
  • $7,043Noncurrent loans and leases
  • $15,993Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $1,077Earning assets
  • $34Long-term assets (5+ years)
  • $589Average Assets, year-to-date
  • $147,063Average Assets, quarterly
  • $26,282Volatile liabilities
  • $141,213Insider loans
  • $153,286FHLB advances
  • $50,450Loans and leases held for sale
  • $1,004Unused loan commitments
  • $7,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $15,993Total unused commitments
  • $0Restructured Loans and leases
  • $1,413Derivatives

Income and Expense (December 31, 2002)

  • Dollar figures in thousands
  • $9,724Total interest income
  • $3,648Total interest expense
  • $6,076Net interest income
  • $836Provision for loan and lease losses
  • $373Total noninterest income
  • $0Fiduciary activities
  • $216Service charges on deposit accounts
  • $0Trading account gains & fees
  • $157Additional noninterest income
  • $2,887Total noninterest expense
  • $1,281Salaries and employee benefits
  • $431Premises and equipment expense
  • $1,175Additional noninterest expense
  • $2,726Pre-tax net operating income
  • $0Securities gains (losses)
  • $1,003Applicable income taxes
  • $1,723Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,723Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $429Sale, conversion, retirement of capital stock, net
  • $10Net operating income

Performance and Condition Ratios (December 31, 2002)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.13%Yield on earning assets
  • 2.68%Cost of funding earning assets
  • 4.46%Net interest margin
  • 0.27%Noninterest income to earning assets
  • 2.12%Noninterest expense to earning assets
  • 1.22%Net operating income to assets
  • 1.22%Return on assets (ROA)
  • 1.93%Pretax return on assets
  • 16.68%Return on equity (ROE)
  • 16.58%Retained earnings to average equity (YTD only)
  • 0.41%Net charge-offs to loans
  • 194.87%Credit loss provision to net charge-offs
  • 8.30%Efficiency ratio
  • 44,767Assets per employee
  • 6.94%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.58%Loss allowance to loans
  • 1.46%Loss allowance to noncurrent loans
  • 153.02%Noncurrent assets plus other real estate owned to assets
  • 0.71%Noncurrent loans to loans
  • 0.95%Net loans and leases to deposits
  • 87.38%Net loans and leases to core deposits
  • 127.84%Equity capital to assets
  • 7.75%Core capital (leverage) ratio
  • 7.37%Tier 1 risk-based capital ratio
  • 9.98%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $141,213Average earning assets
  • $10,333Average equity
  • $136,349Average loans

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