SouthBank, a Federal Savings Bank in Palm Beach Gardens, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • SouthBank, a Federal Savings Bank in Palm Beach Gardens, Florida (FL)
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SouthBank, a Federal Savings Bank - Overview

  • General
  • 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
  • NoIDNameAddressEstablishedService TypeMap
    048156Southbank, A Federal Savings Bank10891 North Military Trail, Palm Beach Gardens, FL 33410October 08, 1993Full Service Brick and Mortar

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