The Palm Bank in Tampa, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • The Palm Bank in Tampa, Florida (FL)
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The Palm Bank - Overview

  • General
  • FDIC Certificate #: 57456
    Status: Active
    Federal Reserve ID: 3167883
    Bank Holding Company (Regulatory Top Holder): Palm Bancorp, Inc. (RSSDID: 3593277, Location: Tampa, FL)
    Date Established: Febuary 11, 2003
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Domestic: 4, Interstate: No)
    FDIC's unique #: 363855
    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: Febuary 11, 2003
    Last Structure Change Effective Date: November 13, 2007
    Last Structure Change Process Date: Febuary 04, 2008
    Last Data Update: Febuary 04, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 2302 South Macdill Avenue, Tampa, FL 33629
    County: Hillsborough
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Tampa
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Tampa-St. Petersburg-Clearwater, FL (#8280)
    Core Based Statistical Area (CBSA): Tampa-St. Petersburg-Clearwater, FL (#45300)
    CBSA Metro Statistical Area: Tampa-St. Petersburg-Clearwater, FL (#45300)
  • History of Changes
  • Change in Location
  • Financial Summary
  • Total assets: $120.7 mil
    Equity capital: $9.8 mil
    Deposits held in domestic offices: $103.0 mil
    Return on assets (ROA): -0.67% (-$0.8 mil)
    Quarterly return on assets: 0.29% ($0.4 mil)
    Return on Equity (ROE): -9.28% (-$0.9 mil)
    Quarterly return on equity: 3.57% ($0.4 mil)
    Net income: -$0.9 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: -0.67% (-$808.9 mil)
    Quarterly Pretax return on assets: 0.29% ($350.1 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
  • 29Total employees (full-time equivalent)
  • $120,730Total assets
  • $1,135Cash and due from depository institutions
  • $106Interest-bearing balances
  • $41,454Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $71,033Net loans & leases
  • $2,011Loan loss allowance
  • $0Trading account assets
  • $2,843Bank premises and fixed assets
  • $2,127Other real estate owned
  • $0Goodwill and other intangibles
  • $120,730Life insurance assets
  • $2,138All other assets
  • $110,920Total liabilities and capital
  • $103,006Total liabilities
  • $87,422Total deposits
  • $103,006Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $7,500Trading liabilities
  • $0Other borrowed funds
  • $414Subordinated debt
  • $9,810All other liabilities
  • $9,810Total equity capital
  • $9,810Total bank equity capital
  • $0Perpetual preferred stock
  • $6,226Common stock
  • $11,160Surplus
  • $-7,576Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $6,569Income earned, not collected on loans
  • $0Earning assets
  • $478Long-term assets (5+ years)
  • $112,593Average Assets, year-to-date
  • $48,771Average Assets, quarterly
  • $134,226Volatile liabilities
  • $127,449Insider loans
  • $81,528FHLB advances
  • $125,658Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $9,242Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $10,919Restructured Loans and leases
  • $817Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,080Total interest income
  • $1,593Total interest expense
  • $4,487Net interest income
  • $1,249Provision for loan and lease losses
  • $140Total noninterest income
  • $0Fiduciary activities
  • $228Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$88Additional noninterest income
  • $4,774Total noninterest expense
  • $2,026Salaries and employee benefits
  • $724Premises and equipment expense
  • $2,024Additional noninterest expense
  • -$1,396Pre-tax net operating income
  • $492Securities gains (losses)
  • $0Applicable income taxes
  • -$904Income before extraordinary items
  • $0Extraordinary gains - net
  • -$904Net income attributable to bank
  • $0Net charge-offs
  • -$904Cash dividends
  • $2,181Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.88%Yield on earning assets
  • 1.28%Cost of funding earning assets
  • 3.60%Net interest margin
  • 0.11%Noninterest income to earning assets
  • 3.83%Noninterest expense to earning assets
  • -1.04%Net operating income to assets
  • -0.67%Return on assets (ROA)
  • -0.67%Pretax return on assets
  • -9.28%Return on equity (ROE)
  • -9.28%Retained earnings to average equity (YTD only)
  • 2.74%Net charge-offs to loans
  • 57.27%Credit loss provision to net charge-offs
  • -0.07%Efficiency ratio
  • 103,177Assets per employee
  • 4.16%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.75%Loss allowance to noncurrent loans
  • 30.61%Noncurrent assets plus other real estate owned to assets
  • 7.20%Noncurrent loans to loans
  • 8.99%Net loans and leases to deposits
  • 68.96%Net loans and leases to core deposits
  • 73.20%Equity capital to assets
  • 8.13%Core capital (leverage) ratio
  • 7.35%Tier 1 risk-based capital ratio
  • 11.34%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $134,226Average earning assets
  • $9,742Average equity
  • $124,526Average loans

List of branches

  • 4 Florida Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0363855The Palm Bank2302 South Macdill Avenue, Tampa, FL 33629Febuary 11, 2003Full Service Brick and Mortar
    1428146Mac Dill2302 South Mac Dill Avenue, Tampa, FL 33629March 29, 2004Limited Service Messenger
    3453348Davis Islands Branch202 E. Davis Blvd., Tampa, FL 33606July 25, 2005Full Service Brick and Mortar
    4474207Downtown Branch300 N. Franklin Street, Tampa, FL 33602April 28, 2008Full Service Brick and Mortar

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