Tallahassee State Bank in Tallahassee, Florida (FL)



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Tallahassee State Bank
GeneralFDIC Certificate #: 21866
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: Synovus Bank (#873)
Federal Reserve ID: 149235
Date Established: December 20, 1974
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Interstate: No)
FDIC's unique #: 15151
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: December 20, 1974
Last Structure Change Effective Date: June 01, 2010
Last Structure Change Process Date: June 15, 2010
Last Data Update: June 15, 2010
Data Source Date: April 05, 2012
LocationAddress: 2720 West Tennessee Street, Tallahassee, FL 32304
County: Leon
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Gainesville
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Tallahassee, FL (#8240)
Core Based Statistical Area (CBSA): Tallahassee, FL (#45220)
CBSA Metro Statistical Area: Tallahassee, FL (#45220)
Financial SummaryTotal assets: $359.8 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)
Total employees (full-time equivalent)34
Total assets$344,530
Cash and due from depository institutions$3,923
Interest-bearing balances$3
Securities$8,445
Federal funds sold & reverse repurchase agreements$29,516
Net loans & leases$281,420
Loan loss allowance $7,898
Trading account assets$0
Bank premises and fixed assets$7,189
Other real estate owned$339
Goodwill and other intangibles$0
All other assets$13,698
Life insurance assets$0
Total liabilities and capital$344,530
Total liabilities$315,236
Total deposits$314,393
Interest-bearing deposits$278,293
Deposits held in domestic offices$314,393
% insured (estimated)82.25%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $843
Total equity capital$29,294
Total bank equity capital$29,294
Perpetual preferred stock$29,294
Common stock$0
Surplus$540
Undivided profits $26,092
Memoranda
Noncurrent loans and leases $2,662
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $33,369
Income earned, not collected on loans $0
Earning assets $9,136
Long-term assets (5+ years) $0
Average Assets, year-to-date $1,168
Average Assets, quarterly $319,384
Volatile liabilities $112,983
Insider loans $350,575
FHLB advances $350,783
Loans and leases held for sale $72,461
Unused loan commitments $10,161
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $0
Total risk weighted assets $0
Total unused commitments $33,369
Restructured Loans and leases $0
Derivatives$3,917
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Income and Expense (December 31, 2009)
(Dollar figures in thousands)
Total interest income $17,074
Total interest expense $5,354
Net interest income $11,720
Provision for loan and lease losses $31,075
Total noninterest income $1,304
Fiduciary activities $0
Service charges on deposit accounts $1,212
Trading account gains & fees $0
Additional noninterest income $92
Total noninterest expense $6,077
Salaries and employee benefits $2,397
Premises and equipment expense $704
Additional noninterest expense $2,976
Pre-tax net operating income -$24,128
Securities gains (losses) $0
Applicable income taxes -$5,897
Income before extraordinary items -$18,231
Extraordinary gains - net $0
Net income attributable to bank -$18,231
Net charge-offs $0
Cash dividends -$18,231
Sale, conversion, retirement of capital stock, net $32,263
Net operating income $0
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Performance and Condition Ratios (December 31, 2009)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.17%
Cost of funding earning assets 1.62%
Net interest margin 3.55%
Noninterest income to earning assets 0.40%
Noninterest expense to earning assets 1.84%
Net operating income to assets -5.20%
Return on assets (ROA) -5.20%
Pretax return on assets -6.88%
Return on equity (ROE) -60.09%
Retained earnings to average equity (YTD only) -60.09%
Net charge-offs to loans 10.11%
Credit loss provision to net charge-offs 96.32%
Efficiency ratio0.22%
Assets per employee$46,660
Cash dividends to net income (YTD only)10.13%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.73%
Noncurrent assets plus other real estate owned to assets 86.45%
Noncurrent loans to loans 2.75%
Net loans and leases to deposits3.16%
Net loans and leases to core deposits 89.51%
Equity capital to assets 116.32%
Core capital (leverage) ratio 8.50%
Tier 1 risk-based capital ratio 8.16%
Total risk-based capital ratio 9.24%
Memoranda
Average assets$11
Average earning assets$350,575
Average equity $30,339
Average loans $330,023
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