Valrico State Bank in Valrico, Florida (FL)

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Valrico State Bank
GeneralFDIC Certificate #: 27536
Status: Active
Federal Reserve ID: 1396700
Bank Holding Company (Regulatory Top Holder): Centerstate Banks, Inc. (RSSDID: 2868129, Location: Davenport, FL)
Date Established: June 23, 1989
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 5 (Domestic: 5, Interstate: No)
OTS Docket #: 13266
FDIC's unique #: 40269
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: June 23, 1989
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 1815 East State Road 60, Valrico, FL 33594
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 ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $186.1 mil
Equity capital: $41.5 mil
Deposits held in domestic offices: $143.2 mil
Return on assets (ROA): -0.28% (-$0.5 mil)
Quarterly return on assets: -0.05% (-$0.1 mil)
Return on Equity (ROE): -1.24% (-$0.5 mil)
Quarterly return on equity: -0.22% (-$0.1 mil)
Net income: -$0.5 mil
Quarterly Net income: -$0.0 mil
Pretax return on assets: -0.51% (-$949.1 mil)
Quarterly Pretax return on assets: -0.02% (-$37.2 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, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)54
Total assets$186,102
Cash and due from depository institutions$5,487
Interest-bearing balances$2,523
Federal funds sold & reverse repurchase agreements$8,399
Net loans & leases$103,165
Loan loss allowance $2,561
Trading account assets$0
Bank premises and fixed assets$11,456
Other real estate owned$1,552
Goodwill and other intangibles$19,391
All other assets$7,086
Life insurance assets$186,103
Total liabilities and capital$144,566
Total liabilities$143,224
Total deposits$115,688
Interest-bearing deposits$143,224
Deposits held in domestic offices$95
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $1,342
All other liabilities $41,537
Total equity capital$41,537
Total bank equity capital$41,537
Perpetual preferred stock$0
Common stock$1,640
Undivided profits $3,930
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $6,243
Earning assets $0
Long-term assets (5+ years) $549
Average Assets, year-to-date $143,653
Average Assets, quarterly $35,872
Volatile liabilities $189,965
Insider loans $188,376
FHLB advances $130,853
Loans and leases held for sale $169,353
Unused loan commitments $5,084
Tier 1 (core) risk-based capital $847
Tier 2 risk-based capital $21,730
Total risk weighted assets $0
Total unused commitments $4,237
Restructured Loans and leases $9,631
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $7,346
Total interest expense $1,187
Net interest income $6,159
Provision for loan and lease losses $1,521
Total noninterest income $1,706
Fiduciary activities $0
Service charges on deposit accounts $1,409
Trading account gains & fees $0
Additional noninterest income $297
Total noninterest expense $7,314
Salaries and employee benefits $2,901
Premises and equipment expense $834
Additional noninterest expense $3,579
Pre-tax net operating income -$970
Securities gains (losses) $0
Applicable income taxes -$443
Income before extraordinary items -$527
Extraordinary gains - net $0
Net income attributable to bank -$527
Net charge-offs $0
Cash dividends -$527
Sale, conversion, retirement of capital stock, net $3,384
Net operating income $1,170
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.03%
Cost of funding earning assets 0.81%
Net interest margin 4.22%
Noninterest income to earning assets 1.17%
Noninterest expense to earning assets 5.01%
Net operating income to assets -0.28%
Return on assets (ROA) -0.28%
Pretax return on assets -0.51%
Return on equity (ROE) -1.24%
Retained earnings to average equity (YTD only) -4.00%
Net charge-offs to loans 3.01%
Credit loss provision to net charge-offs 44.95%
Efficiency ratio0.16%
Assets per employee$90,248
Cash dividends to net income (YTD only)3.45%
Condition Ratios (%)
Loss allowance to loans -222.01%
Loss allowance to noncurrent loans 2.42%
Noncurrent assets plus other real estate owned to assets 41.02%
Noncurrent loans to loans 4.19%
Net loans and leases to deposits5.90%
Net loans and leases to core deposits 72.03%
Equity capital to assets 74.14%
Core capital (leverage) ratio 22.32%
Tier 1 risk-based capital ratio 12.83%
Total risk-based capital ratio 16.61%
Average assets$18
Average earning assets$189,965
Average equity $42,379
Average loans $145,946
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5 Florida Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
040269Valrico State Bank1815 East State Road 60, Valrico, FL 33594June 23, 1989Full Service Brick and Mortar
1262220Brandon Branch102 West Robertson Street, Brandon, FL 33511April 29, 1994Full Service Brick and Mortar
2262221Plant City Branch305 South Wheeler Street, Plant City, FL 33566September 15, 1995Full Service Brick and Mortar
4262223North Riverview Office10101 Bloomingdale Ave, Riverview, FL 33569January 22, 1999Full Service Brick and Mortar
6466828Fishhawk Branch15256 Fishhawk Blvd, Lithia, FL 33547May 16, 2007Full Service Brick and Mortar
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