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

This bank is inactive as of July 23, 2010

  • Sterling Bank in Lantana, Florida (FL)
  • Show street view No street view available for this location

Sterling Bank - Overview

  • General
  • FDIC Certificate #: 32536
    Status: Inactive
    Closing history: Absorption - Assisted
    Acquiring institution: Iberiabank (#28100)
    Federal Reserve ID: 147174
    Date Established: May 01, 1987
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 7 (Interstate: No)
    OTS Docket #: 8402
    FDIC's unique #: 45370
    Numeric code: 13
    Regulator: FED
    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: May 01, 1987
    Last Structure Change Effective Date: July 23, 2010
    Last Structure Change Process Date: July 26, 2010
    Last Data Update: July 26, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 1189 Hypoluxo Road, Lantana, FL 33462
    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)
  • Financial Summary
  • Total assets: $355.0 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, 2009)

  • Dollar figures in thousands
  • 62Total employees (full-time equivalent)
  • $385,307Total assets
  • $48,685Cash and due from depository institutions
  • $46,536Interest-bearing balances
  • $53,267Securities
  • $5,004Federal funds sold & reverse repurchase agreements
  • $246,263Net loans & leases
  • $10,741Loan loss allowance
  • $0Trading account assets
  • $21,638Bank premises and fixed assets
  • $2,414Other real estate owned
  • $36Goodwill and other intangibles
  • $2,449Life insurance assets
  • $8,000All other assets
  • $385,307Total liabilities and capital
  • $374,848Total liabilities
  • $344,267Total deposits
  • $319,440Interest-bearing deposits
  • $344,267Deposits held in domestic offices
  • 75.87%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $25,164Other borrowed funds
  • $4,000Subordinated debt
  • $1,417All other liabilities
  • $10,459Total equity capital
  • $10,459Total bank equity capital
  • $10,459Perpetual preferred stock
  • $0Common stock
  • $1Surplus
  • $30,099Undivided profits
  • Memoranda
  • $-19,641Noncurrent loans and leases
  • $10,965Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $20,632Earning assets
  • $0Long-term assets (5+ years)
  • $1,228Average Assets, year-to-date
  • $351,070Average Assets, quarterly
  • $54,369Volatile liabilities
  • $391,333Insider loans
  • $378,424FHLB advances
  • $137,056Loans and leases held for sale
  • $1,491Unused loan commitments
  • $24,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $10,965Total unused commitments
  • $14,565Restructured Loans and leases
  • $7,623Derivatives

Income and Expense (December 31, 2009)

  • Dollar figures in thousands
  • $17,506Total interest income
  • $10,250Total interest expense
  • $7,256Net interest income
  • $14,266Provision for loan and lease losses
  • $631Total noninterest income
  • $0Fiduciary activities
  • $249Service charges on deposit accounts
  • $0Trading account gains & fees
  • $382Additional noninterest income
  • $10,333Total noninterest expense
  • $4,612Salaries and employee benefits
  • $1,604Premises and equipment expense
  • $4,117Additional noninterest expense
  • -$16,712Pre-tax net operating income
  • -$2,216Securities gains (losses)
  • $0Applicable income taxes
  • -$18,928Income before extraordinary items
  • $0Extraordinary gains - net
  • -$18,928Net income attributable to bank
  • $0Net charge-offs
  • -$18,928Cash dividends
  • $14,517Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2009)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.91%Yield on earning assets
  • 2.87%Cost of funding earning assets
  • 2.04%Net interest margin
  • 0.18%Noninterest income to earning assets
  • 2.90%Noninterest expense to earning assets
  • -4.27%Net operating income to assets
  • -4.84%Return on assets (ROA)
  • -4.84%Pretax return on assets
  • -81.74%Return on equity (ROE)
  • -81.74%Retained earnings to average equity (YTD only)
  • 5.27%Net charge-offs to loans
  • 98.27%Credit loss provision to net charge-offs
  • -0.17%Efficiency ratio
  • 131,013Assets per employee
  • 6.21%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 4.18%Loss allowance to noncurrent loans
  • 52.06%Noncurrent assets plus other real estate owned to assets
  • 6.81%Noncurrent loans to loans
  • 8.03%Net loans and leases to deposits
  • 71.53%Net loans and leases to core deposits
  • 118.28%Equity capital to assets
  • 2.71%Core capital (leverage) ratio
  • 3.78%Tier 1 risk-based capital ratio
  • 4.92%Total risk-based capital ratio
  • Memoranda
  • $8Average assets
  • $391,333Average earning assets
  • $23,156Average equity
  • $356,529Average loans

Comment about this bank, ask questions, or add new information about it:


This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Sterling Bank.
Based on public records. Inadvertent errors are possible. does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents