Sunstate Bank in Miami, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches


Sunstate Bank - Overview

  • General
  • FDIC Certificate #: 34643
    Status: Active
    Federal Reserve ID: 2791085
    Date Established: March 15, 1999
    WWW: http://www.sunstatefl.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    FDIC's unique #: 60866
    Numeric code: 21
    Regulator: FDIC
    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: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: March 15, 1999
    Last Structure Change Effective Date: March 07, 2007
    Last Structure Change Process Date: March 26, 2007
    Last Data Update: March 26, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 14095 South Dixie Highway, Miami, FL 33176
    County: Miami-Dade
    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): Miami, FL (#5000)
    Consolidated Metropolitan Statistical Area (CMSA): Miami-Fort Lauderdale, FL (#56)
    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: Miami-Miami Beach-Kendall, FL (#33124)
  • History of Changes
  • Name Change
  • Financial Summary
  • Total assets: $155.5 mil
    Equity capital: $13.9 mil
    Deposits held in domestic offices: $125.4 mil
    Return on assets (ROA): -4.77% (-$7.4 mil)
    Quarterly return on assets: -12.42% (-$19.4 mil)
    Return on Equity (ROE): -43.28% (-$6.1 mil)
    Quarterly return on equity: -124.85% (-$17.5 mil)
    Net income: -$7.9 mil
    Quarterly Net income: -$5.0 mil
    Pretax return on assets: -2.74% (-$4,261.7 mil)
    Quarterly Pretax return on assets: -3.96% (-$6,159.3 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, 2011)

  • Dollar figures in thousands
  • 34Total employees (full-time equivalent)
  • $155,538Total assets
  • $13,584Cash and due from depository institutions
  • $10,329Interest-bearing balances
  • $41,497Securities
  • $5,149Federal funds sold & reverse repurchase agreements
  • $86,872Net loans & leases
  • $4,182Loan loss allowance
  • $0Trading account assets
  • $2,146Bank premises and fixed assets
  • $2,997Other real estate owned
  • $0Goodwill and other intangibles
  • $155,538Life insurance assets
  • $3,293All other assets
  • $141,634Total liabilities and capital
  • $125,403Total liabilities
  • $98,113Total deposits
  • $125,403Interest-bearing deposits
  • $77Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $15,650Trading liabilities
  • $0Other borrowed funds
  • $581Subordinated debt
  • $13,904All other liabilities
  • $13,904Total equity capital
  • $13,904Total bank equity capital
  • $0Perpetual preferred stock
  • $15,345Common stock
  • $12,854Surplus
  • $-14,295Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $7,545Income earned, not collected on loans
  • $0Earning assets
  • $1,086Long-term assets (5+ years)
  • $143,847Average Assets, year-to-date
  • $25,819Average Assets, quarterly
  • $166,434Volatile liabilities
  • $159,653Insider loans
  • $121,824FHLB advances
  • $158,908Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $14,625Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $5,505Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,518Total interest income
  • $1,397Total interest expense
  • $5,121Net interest income
  • $5,320Provision for loan and lease losses
  • $652Total noninterest income
  • $0Fiduciary activities
  • $365Service charges on deposit accounts
  • $0Trading account gains & fees
  • $287Additional noninterest income
  • $5,201Total noninterest expense
  • $2,455Salaries and employee benefits
  • $697Premises and equipment expense
  • $2,049Additional noninterest expense
  • -$4,748Pre-tax net operating income
  • $184Securities gains (losses)
  • $3,378Applicable income taxes
  • -$7,942Income before extraordinary items
  • $0Extraordinary gains - net
  • -$7,942Net income attributable to bank
  • $0Net charge-offs
  • -$7,942Cash dividends
  • $5,847Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.26%Yield on earning assets
  • 0.91%Cost of funding earning assets
  • 3.35%Net interest margin
  • 0.43%Noninterest income to earning assets
  • 3.40%Noninterest expense to earning assets
  • -4.88%Net operating income to assets
  • -4.77%Return on assets (ROA)
  • -2.74%Pretax return on assets
  • -43.28%Return on equity (ROE)
  • -43.28%Retained earnings to average equity (YTD only)
  • 6.07%Net charge-offs to loans
  • 90.99%Credit loss provision to net charge-offs
  • 0.10%Efficiency ratio
  • 90,092Assets per employee
  • 4.57%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 4.59%Loss allowance to noncurrent loans
  • 55.43%Noncurrent assets plus other real estate owned to assets
  • 6.78%Noncurrent loans to loans
  • 8.29%Net loans and leases to deposits
  • 69.27%Net loans and leases to core deposits
  • 77.31%Equity capital to assets
  • 8.94%Core capital (leverage) ratio
  • 9.20%Tier 1 risk-based capital ratio
  • 12.01%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $166,434Average earning assets
  • $18,350Average equity
  • $152,993Average loans

List of branches

  • 3 Florida Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    060866Sunstate Bank14095 South Dixie Highway, Miami, FL 33176March 15, 1999Full Service Brick and Mortar
    1419892Old Cutler Branch20351 Old Cutler Road, Miami, FL 33189Febuary 10, 2003Full Service Brick and Mortar
    2422888Coral Gables Branch2901 Le Jeune Road, Coral Gables, FL 33134August 26, 2003Full Service Brick and Mortar

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