Valrico State Bank in Valrico, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

Valrico State Bank - Overview

  • General
  • FDIC 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
  • Location
  • Address: 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 Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total 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
  • 54Total employees (full-time equivalent)
  • $186,102Total assets
  • $5,487Cash and due from depository institutions
  • $2,523Interest-bearing balances
  • $29,566Securities
  • $8,399Federal funds sold & reverse repurchase agreements
  • $103,165Net loans & leases
  • $2,561Loan loss allowance
  • $0Trading account assets
  • $11,456Bank premises and fixed assets
  • $1,552Other real estate owned
  • $19,391Goodwill and other intangibles
  • $186,103Life insurance assets
  • $7,086All other assets
  • $144,566Total liabilities and capital
  • $143,224Total liabilities
  • $115,688Total deposits
  • $143,224Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $1,342Subordinated debt
  • $41,537All other liabilities
  • $41,537Total equity capital
  • $41,537Total bank equity capital
  • $0Perpetual preferred stock
  • $1,640Common stock
  • $35,967Surplus
  • $3,930Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $6,243Income earned, not collected on loans
  • $0Earning assets
  • $549Long-term assets (5+ years)
  • $143,653Average Assets, year-to-date
  • $35,872Average Assets, quarterly
  • $189,965Volatile liabilities
  • $188,376Insider loans
  • $130,853FHLB advances
  • $169,353Loans and leases held for sale
  • $5,084Unused loan commitments
  • $847Tier 1 (core) risk-based capital
  • $21,730Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $4,237Total unused commitments
  • $9,631Restructured Loans and leases
  • $3,996Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $7,346Total interest income
  • $1,187Total interest expense
  • $6,159Net interest income
  • $1,521Provision for loan and lease losses
  • $1,706Total noninterest income
  • $0Fiduciary activities
  • $1,409Service charges on deposit accounts
  • $0Trading account gains & fees
  • $297Additional noninterest income
  • $7,314Total noninterest expense
  • $2,901Salaries and employee benefits
  • $834Premises and equipment expense
  • $3,579Additional noninterest expense
  • -$970Pre-tax net operating income
  • $0Securities gains (losses)
  • -$443Applicable income taxes
  • -$527Income before extraordinary items
  • $0Extraordinary gains - net
  • -$527Net income attributable to bank
  • $0Net charge-offs
  • -$527Cash dividends
  • $3,384Sale, conversion, retirement of capital stock, net
  • $1,170Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.03%Yield on earning assets
  • 0.81%Cost of funding earning assets
  • 4.22%Net interest margin
  • 1.17%Noninterest income to earning assets
  • 5.01%Noninterest expense to earning assets
  • -0.28%Net operating income to assets
  • -0.28%Return on assets (ROA)
  • -0.51%Pretax return on assets
  • -1.24%Return on equity (ROE)
  • -4.00%Retained earnings to average equity (YTD only)
  • 3.01%Net charge-offs to loans
  • 44.95%Credit loss provision to net charge-offs
  • 0.16%Efficiency ratio
  • 90,248Assets per employee
  • 3.45%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • -222.01%Loss allowance to loans
  • 2.42%Loss allowance to noncurrent loans
  • 41.02%Noncurrent assets plus other real estate owned to assets
  • 4.19%Noncurrent loans to loans
  • 5.90%Net loans and leases to deposits
  • 72.03%Net loans and leases to core deposits
  • 74.14%Equity capital to assets
  • 22.32%Core capital (leverage) ratio
  • 12.83%Tier 1 risk-based capital ratio
  • 16.61%Total risk-based capital ratio
  • Memoranda
  • $18Average assets
  • $189,965Average earning assets
  • $42,379Average equity
  • $145,946Average loans

List of branches

  • 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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