FDIC Certificate #: 33848 Status: Active Federal Reserve ID: 2111508 Date Established: October 08, 1993 WWW:http://www.southbank.com Trust Powers Granted: No Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) Offices: 1 (Domestic: 1, Interstate: No) OTS Docket #: 11351 FDIC's unique #: 48156 Numeric code: 33 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: No Subchapter S Corporations: Yes Asset Concentration Hierarchy: Other Specialized Lending < 1 Billion Date of Deposit Insurance: October 08, 1993 Last Structure Change Effective Date: July 21, 2011 Last Structure Change Process Date: July 21, 2011 Last Data Update: July 21, 2011 Data Source Date: April 05, 2012
Location
Address: 10891 North Military Trail, Palm Beach Gardens, FL 33410 County: Palm Beach Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: South Florida Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast Metropolitan Statistical Area (MSA): West Palm Beach-Boca Raton, FL (#8960) Core Based Statistical Area (CBSA): Miami-Fort Lauderdale-Pompano Beach, FL (#33100) CBSA Metro Statistical Area: Miami-Fort Lauderdale-Pompano Beach, FL (#33100) Core Based Statistical Division: West Palm Beach-Boca Raton-Boynton Beach, FL (#48424)
History of Changes
Change in Primary Regulatory Agency
Financial Summary
Total assets: $22.8 mil Equity capital: $1.9 mil Deposits held in domestic offices: $19.7 mil Return on assets (ROA): -0.41% (-$0.1 mil) Quarterly return on assets: -1.65% (-$0.4 mil) Return on Equity (ROE): -5.30% (-$0.1 mil) Quarterly return on equity: -20.18% (-$0.4 mil) Net income: -$0.1 mil Quarterly Net income: -$0.1 mil Pretax return on assets: -0.41% (-$93.4 mil) Quarterly Pretax return on assets: -1.65% (-$375.7 mil)
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2011)
Dollar figures in thousands
4Total employees (full-time equivalent)
$22,770Total assets
$4,041Cash and due from depository institutions
$3,875Interest-bearing balances
$13,597Securities
$0Federal funds sold & reverse repurchase agreements
$3,309Net loans & leases
$209Loan loss allowance
$0Trading account assets
$550Bank premises and fixed assets
$847Other real estate owned
$0Goodwill and other intangibles
$22,772Life insurance assets
$426All other assets
$20,913Total liabilities and capital
$19,714Total liabilities
$19,259Total deposits
$19,714Interest-bearing deposits
$91Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$667Trading liabilities
$0Other borrowed funds
$532Subordinated debt
$1,859All other liabilities
$1,859Total equity capital
$1,859Total bank equity capital
$0Perpetual preferred stock
$15Common stock
$2,106Surplus
$-262Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$500Income earned, not collected on loans
$0Earning assets
$54Long-term assets (5+ years)
$20,781Average Assets, year-to-date
$0Average Assets, quarterly
$23,680Volatile liabilities
$23,278Insider loans
$10,012FHLB advances
$22,785Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$1,874Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$541Restructured Loans and leases
$0Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$518Total interest income
$236Total interest expense
$282Net interest income
$9Provision for loan and lease losses
$58Total noninterest income
$0Fiduciary activities
$4Service charges on deposit accounts
$0Trading account gains & fees
$54Additional noninterest income
$639Total noninterest expense
$232Salaries and employee benefits
$223Premises and equipment expense
$184Additional noninterest expense
-$308Pre-tax net operating income
$210Securities gains (losses)
$0Applicable income taxes
-$98Income before extraordinary items
$0Extraordinary gains - net
-$98Net income attributable to bank
$0Net charge-offs
-$98Cash dividends
$8Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
2.41%Yield on earning assets
1.10%Cost of funding earning assets
1.31%Net interest margin
0.27%Noninterest income to earning assets
2.97%Noninterest expense to earning assets
-1.30%Net operating income to assets
-0.41%Return on assets (ROA)
-0.41%Pretax return on assets
-5.30%Return on equity (ROE)
-5.30%Retained earnings to average equity (YTD only)
0.22%Net charge-offs to loans
112.50%Credit loss provision to net charge-offs
-37.38%Efficiency ratio
187,941Assets per employee
5.69%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
5.94%Loss allowance to noncurrent loans
41.80%Noncurrent assets plus other real estate owned to assets
5.92%Noncurrent loans to loans
14.21%Net loans and leases to deposits
16.79%Net loans and leases to core deposits
17.59%Equity capital to assets
8.16%Core capital (leverage) ratio
8.22%Tier 1 risk-based capital ratio
18.72%Total risk-based capital ratio
Memoranda
$20Average assets
$23,680Average earning assets
$1,851Average equity
$21,494Average loans
List of branches
1 Florida Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
48156
Southbank, A Federal Savings Bank
10891 North Military Trail, Palm Beach Gardens, FL 33410
October 08, 1993
Full Service Brick and Mortar
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