FDIC Certificate #: 58056 Status: Inactive Closing history: Absorption - Assisted Acquiring institution:American Momentum Bank (#58309) Federal Reserve ID: 3379426 Date Established: September 12, 2005 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Interstate: No) FDIC's unique #: 437884 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: September 12, 2005 Last Structure Change Effective Date: July 22, 2011 Last Structure Change Process Date: July 25, 2011 Last Data Update: July 25, 2011 Data Source Date: April 05, 2012
Location
Address: 5998 Us Hwy 41 North Suite A, Apollo Beach, FL 33572 County: Hillsborough 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): Tampa-St. Petersburg-Clearwater, FL (#8280) Core Based Statistical Area (CBSA): Tampa-St. Petersburg-Clearwater, FL (#45300) CBSA Metro Statistical Area: Tampa-St. Petersburg-Clearwater, FL (#45300)
Financial Summary
Total assets: $41.3 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2010)
Dollar figures in thousands
11Total employees (full-time equivalent)
$48,927Total assets
$7,498Cash and due from depository institutions
$6,525Interest-bearing balances
$2,485Securities
$1,984Federal funds sold & reverse repurchase agreements
$31,753Net loans & leases
$690Loan loss allowance
$0Trading account assets
$480Bank premises and fixed assets
$4,190Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$537All other assets
$48,927Total liabilities and capital
$47,208Total liabilities
$47,079Total deposits
$40,998Interest-bearing deposits
$47,079Deposits held in domestic offices
97.86%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$129All other liabilities
$1,719Total equity capital
$1,719Total bank equity capital
$1,719Perpetual preferred stock
$0Common stock
$4,510Surplus
$4,205Undivided profits
Memoranda
$-6,996Noncurrent loans and leases
$2,132Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$1,068Earning assets
$0Long-term assets (5+ years)
$173Average Assets, year-to-date
$42,747Average Assets, quarterly
$5,620Volatile liabilities
$48,327Insider loans
$47,345FHLB advances
$12,915Loans and leases held for sale
$2,050Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$2,132Total unused commitments
$1,528Restructured Loans and leases
$470Derivatives
Income and Expense (December 31, 2010)
Dollar figures in thousands
$2,171Total interest income
$725Total interest expense
$1,446Net interest income
$1,040Provision for loan and lease losses
$521Total noninterest income
$0Fiduciary activities
$70Service charges on deposit accounts
$0Trading account gains & fees
$451Additional noninterest income
$2,015Total noninterest expense
$700Salaries and employee benefits
$359Premises and equipment expense
$956Additional noninterest expense
-$1,088Pre-tax net operating income
$151Securities gains (losses)
$0Applicable income taxes
-$937Income before extraordinary items
$0Extraordinary gains - net
-$937Net income attributable to bank
$0Net charge-offs
-$937Cash dividends
$1,645Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2010)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.19%Yield on earning assets
1.73%Cost of funding earning assets
3.46%Net interest margin
1.25%Noninterest income to earning assets
4.82%Noninterest expense to earning assets
-2.25%Net operating income to assets
-1.94%Return on assets (ROA)
-1.94%Pretax return on assets
-40.59%Return on equity (ROE)
-40.59%Retained earnings to average equity (YTD only)
4.60%Net charge-offs to loans
63.22%Credit loss provision to net charge-offs
-0.03%Efficiency ratio
102,440Assets per employee
4.45%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.13%Loss allowance to noncurrent loans
64.61%Noncurrent assets plus other real estate owned to assets
10.75%Noncurrent loans to loans
3.29%Net loans and leases to deposits
67.45%Net loans and leases to core deposits
92.94%Equity capital to assets
3.51%Core capital (leverage) ratio
3.94%Tier 1 risk-based capital ratio
4.82%Total risk-based capital ratio
Memoranda
$6Average assets
$48,327Average earning assets
$2,308Average equity
$41,793Average loans
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