Summit Bank, National Association in Panama City, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Summit Bank, National Association in Panama City, Florida (FL)
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Summit Bank, National Association - Overview

  • General
  • FDIC Certificate #: 58786
    Status: Active
    Federal Reserve ID: 3696936
    Bank Holding Company (Regulatory Top Holder): Summit Financial Enterprises, Inc. (RSSDID: 3696945, Location: Panama City, FL)
    Date Established: April 08, 2008
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 4 (Domestic: 4, Interstate: No)
    FDIC's unique #: 468028
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: April 08, 2008
    Last Structure Change Effective Date: December 16, 2011
    Last Structure Change Process Date: December 19, 2011
    Last Data Update: December 19, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 101 West 23rd Street, Panama City, FL 32405
    County: Bay
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Pensacola
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Panama City, FL (#6015)
    Core Based Statistical Area (CBSA): Panama City-Lynn Haven-Panama City Beach, FL (#37460)
    CBSA Metro Statistical Area: Panama City-Lynn Haven-Panama City Beach, FL (#37460)
  • History of Changes
  • Participated in FDIC Assisted Absorption/Consolidation/Merger
  • Financial Summary
  • Total assets: $224.4 mil
    Equity capital: $24.0 mil
    Deposits held in domestic offices: $190.6 mil
    Return on assets (ROA): 0.80% ($1.8 mil)
    Quarterly return on assets: 1.60% ($3.6 mil)
    Return on Equity (ROE): 5.33% ($1.3 mil)
    Quarterly return on equity: 12.95% ($3.1 mil)
    Net income: $1.1 mil
    Quarterly Net income: $0.7 mil
    Pretax return on assets: 1.04% ($2,333.9 mil)
    Quarterly Pretax return on assets: 1.82% ($4,084.4 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
  • 40Total employees (full-time equivalent)
  • $224,418Total assets
  • $27,538Cash and due from depository institutions
  • $21,927Interest-bearing balances
  • $35,048Securities
  • $3,210Federal funds sold & reverse repurchase agreements
  • $125,862Net loans & leases
  • $1,068Loan loss allowance
  • $0Trading account assets
  • $1,670Bank premises and fixed assets
  • $3,256Other real estate owned
  • $129Goodwill and other intangibles
  • $224,418Life insurance assets
  • $27,705All other assets
  • $200,437Total liabilities and capital
  • $190,577Total liabilities
  • $142,463Total deposits
  • $190,577Interest-bearing deposits
  • $82Deposits held in domestic offices
  • 3232.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $4,000Trading liabilities
  • $0Other borrowed funds
  • $2,628Subordinated debt
  • $23,981All other liabilities
  • $23,981Total equity capital
  • $23,981Total bank equity capital
  • $0Perpetual preferred stock
  • $1Common stock
  • $24,092Surplus
  • $-112Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $9,540Income earned, not collected on loans
  • $0Earning assets
  • $766Long-term assets (5+ years)
  • $186,047Average Assets, year-to-date
  • $29,607Average Assets, quarterly
  • $136,948Volatile liabilities
  • $177,551Insider loans
  • $169,325FHLB advances
  • $156,199Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $23,968Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $18,130Restructured Loans and leases
  • $3,174Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,580Total interest income
  • $591Total interest expense
  • $3,989Net interest income
  • $365Provision for loan and lease losses
  • $1,481Total noninterest income
  • $0Fiduciary activities
  • $126Service charges on deposit accounts
  • $5Trading account gains & fees
  • $1,350Additional noninterest income
  • $3,837Total noninterest expense
  • $2,236Salaries and employee benefits
  • $330Premises and equipment expense
  • $1,271Additional noninterest expense
  • $1,268Pre-tax net operating income
  • $160Securities gains (losses)
  • $327Applicable income taxes
  • $1,101Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,101Net income attributable to bank
  • $0Net charge-offs
  • $1,101Cash dividends
  • $88Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.80%Yield on earning assets
  • 0.49%Cost of funding earning assets
  • 3.31%Net interest margin
  • 1.23%Noninterest income to earning assets
  • 3.18%Noninterest expense to earning assets
  • 0.71%Net operating income to assets
  • 0.80%Return on assets (ROA)
  • 1.04%Pretax return on assets
  • 5.33%Return on equity (ROE)
  • 5.33%Retained earnings to average equity (YTD only)
  • 0.12%Net charge-offs to loans
  • 414.77%Credit loss provision to net charge-offs
  • 18.56%Efficiency ratio
  • 70,146Assets per employee
  • 5.61%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.84%Loss allowance to noncurrent loans
  • 11.19%Noncurrent assets plus other real estate owned to assets
  • 5.70%Noncurrent loans to loans
  • 7.52%Net loans and leases to deposits
  • 66.04%Net loans and leases to core deposits
  • 70.78%Equity capital to assets
  • 10.69%Core capital (leverage) ratio
  • 15.34%Tier 1 risk-based capital ratio
  • 14.16%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $136,948Average earning assets
  • $20,664Average equity
  • $120,573Average loans

List of branches

  • 4 Florida Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0468028Summit Bank, National Association101 West 23rd Street, Panama City, FL 32405April 08, 2008Full Service Brick and Mortar
    1500168Pensacola Branch109 East Garden Street, Pensacola, FL 32502October 01, 2009Full Service Brick and Mortar
    2446823Premier Community Bank Of The Emeral345 East James Lee Boulevard, Crestview, FL 32539September 05, 2006Full Service Brick and Mortar
    3458366Fort Walton Beach Branch32 Beal Parkway, Nw, Fort Walton Beach, FL 32548September 05, 2006Full Service Brick and Mortar

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