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

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